2023-1-10 14:06 |
The Nova Scotia Securities Commission is alerting locals to a cryptocurrency fraud that it describes as a "pig slaughtering" scheme. origin »
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By CCN: Another week, another breathless report about cryptocurrency fraud. Is this even news anymore? On April 30, CipherTrace reported that it had identified $1. 2 billion in cryptocurrency fraud in the first quarter of 2019, compared to $1.
2019-5-4 16:19 | |
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An Arizona Man and an Israeli woman have been charged in connection with providing “shadow banking services” to cryptocurrency exchanges — involving millions of dollars. The two individuals were charged by the United States Attorney for the Southern District of New York, the Federal Bureau of Investigation (FBI), and the Internal Revenue Service (IRS) in a criminal investigation.
2019-5-2 14:00 | |
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As first reported by Modern Consensus, an HSBC account linked to a federal indictment for bank fraud has been found to be directly related to Bitfinex. Legal Troubles Begin A portion of Bitfinex’s missing $850 million has been seized by the U.
2019-5-2 12:38 | |
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Federal prosecutors indicted Reginald Fowler, 60, of Arizona and Ravid Yosef, 36, of Tel Aviv on grounds of hiding the true nature of hundreds of millions of dollars transferred in and out of their several bank accounts around the world, reported Bloomberg May 1, 2019.
2019-5-2 12:00 | |
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Losses arising from cryptocurrency hacks and fraud may have reached as high as $1.2 billion in the first quarter of 2019, CipherTrace estimates.
2019-5-1 16:30 | |
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Bitfinex, one of the largest cryptocurrency exchanges in the world, has been the highlight of the cryptocurrency space ever since the NY Attorney General opened an investigation into the exchange alleging fraud.
2019-5-1 16:13 | |
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By CCN. com: Even as the bearish conditions in the crypto markets persisted in this year’s first quarter, bad actors in the sector continued to thrive. According to cybersecurity firm CipherTrace, during the first quarter of the year, the amount that bad actors generated from stealing from bitcoin exchanges and operating cryptocurrrency scams reached $1.
2019-5-1 15:13 | |
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By CCN. com: The U. S. Justice Department has nabbed one of two crypto fraudsters accused of a shadow banks scheme that entailed the processing of hundreds of millions of dollars of unregulated transactions on behalf of several cryptocurrency exchanges.
2019-5-1 11:35 | |
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What Is Gakex? Gakex is the world’s first decentralized binary options exchange platform based on TRON's Blockchain technology. Gakex seeks to reduce the control that financial corporations and intermediary organizations have in the financial markets as well as create a transparent and secure trading platform that ensures investors do not have to worry about fraud […]
2019-4-30 11:38 | |
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The latest edition of “Targeting scams,” an annual report released by the Australian Competition and Consumer Commission (ACCC) revealed that the country saw a 190 percent increase in cryptocurrency scams, with a total of $6.
2019-4-30 20:07 | |
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Australian fraudsters earned $4. 3 million (AU$6. 1 million) with cryptocurrency scams last year—a revenue increase of 190 percent when compared to 2017. The Australian Competition and Consumer Commission (ACCC)’s new report details the extent of the nation’s problem with cryptocurrency fraud.
2019-4-29 13:01 | |
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By CCN. com: While 2018 was a tough year for cryptocurrency enthusiasts with the persistent bearish market conditions, it was a bumper period for scammers in Australia. According to the Australian Competition and Consumer Commission (ACCC), the use of cryptocurrencies in scams surged by 190 percent year-on-year.
2019-4-29 12:17 | |
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A report by RNZ published April 26, 2019, states that a Samoan church has been implicated in a global multi-billion cryptocurrency fraud scheme. Crypto Scam Knocks the Doors of Churches The tentacles of crypto-based crimes now seem to have gripped religious institutions as highlighted by a recent development in the Oceania.
2019-4-28 01:00 | |
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The New York Office of the Attorney General (AG) wants to take a closer look into the business operations of Bitfinex and related stablecoin issuer Tether (USDT). According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinex’s suite of interrelated companies (including its umbrella firm iFinex and Tether Holdings Limited) for “ongoing fraud” to the tune of $850 million.
2019-4-27 01:30 | |
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Fraud in the cryptocurrency industry is one of the sorest subjects, and the recent theft at the hands of two Nigerian nationals has not helped the case. TNW Hard Fork recently reported on these two fraudsters that have managed to complete multiple Bitcoin investments scams, taking $50,000 in Bitcoin from the hands of investors. Even […]
2019-4-26 17:06 | |
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Cryptocurrency exchange Bitfinex has come out to defend its position after the New York State Attorney General filed a lawsuit against the company and Tether for fraud. Bitfinex maintains that the report claiming that it has lost $850 million at Crypto Capital were false.
2019-4-26 13:59 | |
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According to an official notification published April 24, 2019, by the U. S. Department of Justice for Oregon, two Nigerian nationals have been charged in a 13-count indictment with regard to their alleged involvement in an online bitcoin fraud scheme.
2019-4-26 11:00 | |
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Law enforcers from around the globe seem to finally be getting up to speed with tackling cryptocurrency crimes. But it seems the lure of Bitcoin is still too much for some, even for those that should be protecting citizens from cyber-criminals.
2019-4-23 15:14 | |
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Craig Wright has ignited a battle amongst the cryptocurrency community of the world that is having detrimental side effects for the whole industry. As Wright sought to find the identity of one user who called him a “fraud” while denying that he is the creator of Bitcoin, he offered a bounty of anyone with details. […]
2019-4-17 15:21 | |
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A federal jury convicted two hackers on 21 counts of cybercrimes including infecting computers with malware to steal credit card information. The culprits also attempted to sell sensitive data on dark web marketplaces, engaged in online fraud and illegally mined digital currencies.
2019-4-16 13:00 | |
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By CCN. com: Binance CEO Changpeng “CZ” Zhao has followed through with his threat, announcing that the exchange will delist Bitcoin SV. It’s a blow to Craig Wright and a reflection of the animosity that has been building against the controversial creator of the cryptocurrency.
2019-4-15 18:18 | |
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Many cryptocurrency proponents envision a world without the traditional banking system. Not Craig Wright though. nChain’s Chief Scientist is of the opinion that Bitcoin “doesn’t stop banking.
2019-4-15 18:00 | |
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Binance CEO Changpeng Zhao, known as CZ, slammed Craig Wright as a “fraud” in an ongoing Twitter spat. Craig Wright, the driving force behind cryptocurrency Bitcoin SV, has long claimed he is the founder of bitcoin and the man behind the pseudonym Satoshi Nakamoto.
2019-4-15 16:22 | |
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Two Romanian residents have been convicted of infecting over 400,000 individual computers with malware in order to mine cryptocurrency and steal victims’ data to sell on the dark web. Bogdan Nicolescu, 36, and Radu Miclaus, 37, were convicted by a US jury following a 12-day trial of conspiracy to commit wire fraud, conspiracy to traffic in counterfeit service marks, aggravated identity theft, conspiracy to commit money laundering, and 12 counts each of wire fraud.
2019-4-12 15:31 | |
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Craig S. Wright has officially taken the first steps in a legal action against a member of the Bitcoin community, according to a letter shared with Bitcoin Magazine.
2019-4-12 21:55 | |
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Blockchain and cryptocurrency related crimes are something heard about in a very scarce quantity. But this week, TheNextWeb uncovered the sentencing of a 37-year-old man from in the United States under charges of fraud and cybercrime, for which he was sentenced to one year and one day in prison. Where this relates to Bitcoin is […]
2019-4-10 21:32 | |
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A 37 year-old man in the US has been sentenced to one year and one day in prison for fraud in connection with a Bitcoin phishing scheme designed to rob victims of their cryptocurrency. Michael Richo, of New Haven, was also ordered to forfeit $352,000 in cash, various computers and electronic devices, and an assortment of precious coins and metals that he purchased with the proceeds of his offense.
2019-4-10 12:28 | |
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Aggrieved Nigerians are demanding that the country’s banking and financial regulators, as well as the Foreign Affairs Ministry (NIIA), look into allegations of fraud leveled against Paxful – a bitcoin peer-to-peer (P2P) exchange platform, reports The Guardian, April 6, 2019.
2019-4-9 05:00 | |
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In Nigeria, thousands of cryptocurrency investors and traders have reportedly lost access to millions of dollars. Paxful Incorporated, a major cryptocurrency services firm based in Estonia, is accused of large-scale fraud, reportedly suspending the accounts of Nigerian users.
2019-4-8 18:52 | |
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Many individuals and organizations have acknowledged the immense potential of blockchain technology, but that hasn’t changed the fact that the cryptocurrency sector still faces massive obstacles in terms of public perception, fraud, and security.
2019-4-7 03:00 | |
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On April 4, 2019, Belgium’s financial watchdog, the Financial Services and Markets Authority (FSMA), announced that it had updated a blacklist of cryptocurrency-related websites associated with crimes such as fraud.
2019-4-5 19:00 | |
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The Belgian Financial Services and Markets Authority [FSMA] identified seven new cryptocurrency trading websites in Belgium which could potentially be fraudulent. The financial authority admitted to receiving complaints from Belgian consumers who had invested in digital assets through these platforms.
2019-4-5 18:30 | |
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The peer-to-peer bitcoin marketplace Paxful announced today, April 2, 2019, that it’s introducing AI-powered identity verification to help improve know-your-customer (KYC) and anti-money laundering (AML) procedures on the platform.
2019-4-3 21:13 | |
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In Canada, authorities have seized luxury cars and frozen bank accounts owned by the ringleaders of FUEL, an allegedly fraudulent $22-million initial coin offering (ICO) from 2017. Court documents claim “blockchain services company” Vanbex raised $22 million (CAD$30 million) in cryptocurrency and fiat by with absolutely no intention to develop the FUEL token, reports CoinDesk.
2019-4-1 17:04 | |
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Depending on what country you live in, your cryptocurrency will be subject to different tax rules. The questions below address implications within the United States, specifically, but similar issues arise around the world.
2019-3-29 18:20 | |
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New York resident Patrick McDonnell AKA “Jason Flack” was arrested and charged with nine counts of wire fraud in a Brooklyn court on Tuesday. McDonnell allegedly convinced others to “invest” in cryptocurrency through Facebook and Twitter, stealing the money for his own use and providing false balance statements in return.
2019-3-28 01:04 | |
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Banks are quick to label Bitcoin the money of criminals. But banks fines since the financial crisis have totaled over $243 billion. Bitcoin fines? Zero. Isn’t it time for society to open its eyes? Banks Don’t Want to Work with Cryptocurrency Companies I tried to make a small purchase from a well-known cryptocurrency exchange earlier this week.
2019-3-28 01:00 | |
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Binance has partnered with Medici Ventures’ portfolio company IdentityMind, a risk management and regulatory-technology compliance platform, in a bid to enhance its fraud protection and compliance protocols.
2019-3-28 18:08 | |
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Binance, the largest cryptocurrency exchange based on adjusted volume, is collaborating with IdentityMind’s Know Your Customer [KYC] and Anti-Money Laundering [AML] services. The partnership was announced via an official blog post on 26 March.
2019-3-27 12:30 | |
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Jeffrey Skilling, the former CEO of Enron Corp, fresh from serving a 12-year prison sentence for fraud and insider trading might be looking to make a comeback via the emerging cryptocurrency and blockchain technology market.
2019-3-26 04:00 | |
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Microsoft’s Bing has boasted it successfully blocked more than 5 million cryptocurrency-related ads, after it imposed a strict marketing ban last year. In a blog, Bing detailed its problem with spam from sketchy advertisers.
2019-3-25 19:30 | |
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Alexander Vinnik, a Russian national suspected of orchestrating a $4 billion bitcoin fraud has lodged an appeal with a Greek court for his extradition to Russia, this according to Greek media outlet Kathimerini, March 21, 2019.
2019-3-23 10:00 | |
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The AriseBank CEO, who faced up to 120 years in jail, entered a guilty plea for a count of securities fraud that implicates him for deceiving investors of AriseBank when he was at its helm. This according to a recent report from Dallas News.
2019-3-22 16:00 | |
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Alexander Vinnik, the alleged operator of troubled cryptocurrency exchange BTC-e (who is wanted in several countries for his potential involvement in a Bitcoin fraud case) has lodged an appeal for extradition to his native Russia.
2019-3-22 14:01 | |
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Even as every aspect of the crypto industry becomes more advanced and developed, so does the prosecution of crime relating to the industry. This is why there has been a sharp rise in people being arrested and prosecuted for SIM swapping, impersonation of other firms and running crypto scams. Such is the case of AriseBank […]
2019-3-21 22:25 | |
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AriseBank CEO Jared Rice, who faced 120 years in prison for defrauding investors of $4 million in a cryptocurrency scam, has pleaded guilty. The cryptopreneur plead guilty yesterday morning after standing in front of judges in Texas, local outlet Dallas News reports.
2019-3-21 17:54 | |
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Michael Patryn, the co-founder of the controversial QuadrigaCX, has already been convicted and spent 18 months in a U. S. Federal prison for identity theft linked to credit card and bank fraud. He “underwent a remarkable transformation,” and changed his identity before entering the world of cryptocurrency.
2019-3-21 16:00 | |
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The cryptocurrency market and space has been plagued with fraudulent schemes, exchanges, practices, and participants. This is something that has affected the integrity of the market and of virtual currencies.
2019-3-20 06:33 | |
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As anxiety grows around every new twist and turn in the ongoing QuadrigaCX drama, along with extensive QuadrigaCX media coverage, Canada’s mainstream media has been calling on the government to bring in better oversight and regulation of cryptocurrency businesses, especially cryptocurrency exchanges.
2019-3-20 18:42 | |
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Call centers avoid targeting Americans because they didn’t want the FBI after them Australians are targeted because the AFP is less likely to go after the scammers A former call center worker in Ukraine said Australians were targeted in crypto scam calls because they were perceived as “easy prey.
Andrew Tate said he would give all people who supported him a chance to make money from a new coin. The post Is Andrew Tate About to Drop His Own Cryptocurrency? appeared first on BeInCrypto.
SlowMist identified that a recent fake Skype app may have been carried out by Chinese gang responsible for a fake Binance app last year. The post Chinese Gang Dupes Users With Fake Skype and Binance Apps, Millions in Crypto Stolen appeared first on BeInCrypto.
Scott Dedels, a crypto author, took to X, notifying the community that a bank had blocked two separate Bitcoin purchases without any “concrete” reason given. Dedels now wants people to withdraw funds, saying financial institutions shouldn’t control how their clients decide how they spend their monies.
The US Commodity and Futures Trading Commission (CFTC) has revealed that most anonymous tips received this year were related to crypto scams, with whistleblowers receiving almost $350 million in awards.
Scammers impersonating Binance have stolen about $447,000 from users in Hong Kong through phishing emails, prompting users to click a link to verify their identity, which then leads to a fake website that steals personal information.
Bitcoin blackmail scams have been identified as the most successful attack vector, netting scammers nearly $1. 7 million in H1 2023, according to Coin Kickoff. The study also highlighted a rise in ransomware scams.