SEC Files Fraud Charges Against Promoters of NovaTech, Alleged $650M Crypto Pyramid Scheme

2024-8-13 22:24

The U.S. Securities and Exchange Commission (SEC) filed suit against an alleged crypto pyramid scheme, NovaTech, and eight of its promoters on Monday, charging them with fraud and multiple violations of federal securities laws.

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Источник: coindesk.com

scheme crypto → Результатов: 126

DOJ indicts Gotbit CEO for allegedly orchestrating massive wash trading scheme

The Department of Justice has indicted Aleksei Andriunin, founder and CEO of crypto financial services firm Gotbit, on charges of wire fraud and conspiracy to commit market manipulation. Andriunin, a Russian national residing in Portugal, allegedly orchestrated a scheme to artificially inflate trading volumes for client crypto companies, including several based in the US.

2024-11-2 02:30	Memecoins
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Crypto trader pleads guilty to ‘cherry picking’ futures scheme

The former CEO of Systematic Alpha Management faces up to five years in prison for his role in a fraudulent scheme tied to crypto futures contracts.

2023-10-13 04:00
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Reggie Fowler, Ex-Minnesota Vikings Co-Owner, Gets 6 Years Jail Term For Crypto Scam

Reggie Fowler, a former owner of NFL team Minnesota Vikings, has been meted a six-year prison sentence by a New York judge because of his involvement in a crypto fraud scheme. This scheme encompassed more than $700 million in unregulated transactions carried out over a period of 10 months in 2018.

2023-6-6 10:20
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Ukraine Authorities Uncover $40 Million Crypto Pyramid Scheme

Ukrainian law enforcement has exposed a crypto pyramid scheme based out of Russia that is suspected of making millions in US dollars. The post Ukraine Authorities Uncover $40 Million Crypto Pyramid Scheme appeared first on BeInCrypto.

2023-4-8 17:01	Blockchain News
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Binance CEO Once Again Denies Any Cloud Token Relations Due to ‘Fake Picture’ of Ponzi Scheme

The world’s biggest crypto exchange, Binance, is the latest target of a pyramid scheme using renowned crypto-based companies and individuals to propagate their fraudulent activities. This is after the company was targeted by a company accused of running a crypto ponzi scheme in Singapore.

2019-10-29 22:16	Binance
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Suspects in $68M Crypto Pyramid Scheme Detained by Tokyo Police

Eight men, six of whom have admitted to the allegations, have been arrested for running a crypto pyramid scheme which defrauded around 6,000 people in Japan.

2018-11-15 13:12	News
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Crypto Crime: Tokyo Fuzz Arrest Eight In $68M Bitcoin Pyramid Scheme

$68. 42 Million Stolen In Bitcoin Scheme Since Bitcoin’s inception, a mere decade ago, malicious users of the world’s first blockchain have sought to capitalize on the pseudonymous and anti-governmental nature of the Bitcoin Network and other crypto platforms.

2018-11-15 09:00
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Tokyo Police Crackdown on Alleged Crypto Pyramid Scheme, Arrest Eight Individuals

As global regulators rush to institute legal frameworks aimed at reducing the amount of fraud and scams that exist within the cryptocurrency industry, a recent series of arrests in Tokyo highlight just how important regulations can be.

2018-11-15 02:00	SEC
tokyo scheme eight individuals pyramid alleged police

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Japanese Police Arrest 8 Men In $68 Million ‘Sener’ Crypto Pyramid Scheme

Japanese Police Arrests 8 Men For Involvement In $68 Million USD Crypto Pyramid Scheme The Tokyo police have recently arrested eight men that were suspected of leading a $68. 4 million USD crypto and pyramid scheme.

2018-11-14 22:29	News
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Thailand Uses Blockchain-Supported Electronic Voting System in Primaries

Thailand's Democrat Party has become the first political party to use blockchain technology to elect its leaders in a primary election, which was held from November 1–9, 2018.

2018-11-14 01:06	Adoption & community
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Indian Crypto Company Embroiled In Ponzi Scheme Targeting Muslim Investors

Ambidant Marketing allegedly lured individuals with "halal" investment.

2018-11-14 22:56	law and legislation
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Latest Crypto MLM Ponzi Scheme Collapses As FirstCoin Club Faces Accusations Of Fraud

FirstCoin Club Collapses Amidst Accusations Of Fraud Never trust a Ponzi scheme. It should be obvious, right? Unfortunately, it’s generally not. FirstCoin Club was a Ponzi scheme launched in 2017 that called out the attention of many investors who used their real money and got the useless altcoin of the company as a prize. As […]

2018-11-13 01:18	News
firstcoin club scheme ponzi accusations collapses fraud

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Trader Jailed and Fined Over $1 Million for Bitcoin and Litecoin Fraud Scheme

The U. S. Commodity Futures Trading Commission (CFTC) issued a press release on Friday, November 9, 2018, stating that it had fined Arizona resident Joseph Kim for perpetrating a fraudulent cryptocurrency trading scheme against his former employer and other investors.

2018-11-13 22:55	Law & justice
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Zambia Central Bank Declares Bitcoin Not Legal Tender, Jails Multiple Crypto Investment Scheme Bad Actors

Three Directors Of Zambia’s Heritage Coin Resources Limited Accused Of Laundering $2. 4 Million Arrested Zambia’s Drug Enforcement Commission (DEC) has apprehended three directors of the Heritage Coin Resources Limited in an alleged offence of laundering more than k28,000,000, which is approximately $2.

2018-11-12 20:42	News
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BitherCash: New Bitconnect-Like Crypto Loan Platform with BEC Tokens?

A new Ponzi scheme is operating in a similar way as Bitconnect was doing in the past. BitherCash, the name of this fraudulent scheme, has been reviewed by BehindMLM on November 10. According to the report, the company does not provide any information about who owns or runs the business. However, this seems to go […]

2018-11-11 21:16	News
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Shifty Principle Uses School Computers to Craft a Crypto Mining Scheme

A Middle School principle in China was fired after staffers uncovered a cryptocurrency mining scheme utilizing school computers. Local media in China have begun to write about a foiled cryptocurrency mining scheme organized by the principal of Puman Middle School.

2018-11-11 08:45
school mining computers scheme principle shifty summer

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JRR Crypto Launches Token Design Competition - [BTC Media Sponsor]

In a collaboration with LongHash and BTC Inc, JRR Crypto has launched an international token design competition. Beginning on October 26, 2018, JRR Crypto launched this design competition at a multiday festival in Berlin.

2018-11-9 17:35	Bitcoin
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Overstock CEO Calls Modern Financial System a Ponzi Scheme, Predicts Global Crypto Adoption

In a recent interview, Overstock CEO Patrick Byrne described the entire modern financial system as a “big Keynesian magic money tree ponzi scheme,” adding that its collapse will usher in the global adoption of cryptocurrency.

2018-11-8 03:34	Cryptocurrency News
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Hong Kong’s ‘Young Wizard of Investment’ Indicted for HK$6.9 Million in Bitcoin Mining Scam

HK Stock Market Commentator Indicted In HK$6. 9 Million Crypto Scam Hong Kong Media platform, The Standard, has reported that investors have complained that Raymond Yuen, a prominent stock market commentator, ran a fraud scheme and deprived the people of nearly 7 million Hong Kong Dollars.

2018-11-5 20:42	News
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Multisignature Scheme Enabled for the Multy Crypto Wallet on Android and iOS

Banks facilitate joint accounts, which are in the name of at least two people. With cryptocurrency wallets too, multiple owners are allowed to log into one wallet. Now, open-sourced mobile wallet for Ethereum and Bitcoin, Multy, is making the use of such wallets easier.

2018-10-31 13:59	ethereum
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What Is Initiative Q: New Crypto Payment Network Or Faulty Q Token Spam?

What Is Initiative Q: New Crypto Payment Network Or Faulty Q Token Spam? Have you ever heard of the Initiative Q? In case you haven’t, you should know that it was described by David Gerard, a crypto journalist from the United Kingdom, as “a non-crypto private currency, marketed by a pyramid scheme”. Well, that pretty […]

2018-10-30 05:24	News
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Polish Authorities Seize Over $10 Million Dollars From DasCoin Crypto MLM Scam

Polish authorities seized over 44 million PLN ($11. 6 million dollars) from DasCoin, a Ponzi scheme company that scammed users with fraudulent investments. According to local reports, Ewa Bialik, a spokesperson of the National Public Prosecutor’s Office confirmed the recent seizure of these funds.

2018-10-28 21:48	News
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FBI is Looking Into Call Of Duty Gamers Suspected of Running Crypto Theft Ring

On October 22, 2018, The Chicago Sun Times revealed the findings of unsealed court documents which detailed an FBI investigation into a ring of suspected cryptojackers. The alleged ring is comprised of a group of online gamers who met while playing the popular video game Call of Duty.

2018-10-27 23:00
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$3.3M Worth of Crypto Nicked by Call of Duty Criminal Ring

A group of Call of Duty players allegedly masterminded a scheme that allowed them to steal over $3 million in cryptocurrencies.

2018-10-23 13:03	News
duty call allowed steal cryptocurrencies million scheme

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Call of Duty Players Suspected of Swiping More Than $3 Million in Crypto

A group of Call of Duty players are suspected by authorities of masterminding a scheme to steal more than $3 million in cryptocurrency. The group allegedly hacked into cryptocurrency wallets after gaining access to a victim’s cell phone.

2018-10-23 07:00	#scams
cryptocurrency call duty players group suspected million

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Monero Transaction Fees Reduced by 97% After Bulletproofs Upgrade

After the recent hard fork upgrade of its protocol, Monero has seen its transaction fees shrink by approximately 97 percent, dropping from 60 cents to just 2 cents.

2018-10-23 22:09	Privacy & security
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Crypto Ponzi Scammer Ordered to Pay $2.5 Million for Duping Investors

On October 18, the U. S. Securities and Exchange Commission (SEC) ordered a New York-based firm Gelfman Blueprint, Inc. and CEO Nicholas Gelfman to pay $2. 5 million in fines and restitution for running a Bitcoin Ponzi scheme.

2018-10-22 09:00	Regulation
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US-Based Bitcoin Hedge Fund To Cough Up $2.5 Million For Running A Ponzi Scheme

A Federal Court in New York has passed a serious verdict that’s about to make fraudsters in the crypto world lose sleep for now on. A CEO of a hedge fund, together with the hedge fund entity itself, is to pay upwards of $2.

2018-10-20 03:14	Ponzi scheme
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New BitConnect Class Action Combines All Former Suits — And Targets Youtube

According to recent court documents, an Amended Consolidated Class Action Complaint has been filed at a U. S. District Court for the Southern District of Florida against BitConnect.

2018-10-19 22:58	Law & justice
bitconnect scheme suit against action new company

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Class Action Suits Launched Against Cryptocurrency Mining Investment Company

The law offices of Pomerantz LLP in New York have filed a series of civil suits against MGT Capital Investment and its executive officers on behalf of several of the trading firm’s past or present customers.

2018-10-18 20:05	Law & justice
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Ripple (XRP) Remains Undeterred By Bitcoin (BTC) Uncertainty

Ripple (XRP) seems to be undeterred by Bitcoin (BTC)’s uncertain moves. It did fall yesterday like the rest of the market. However, it was very keen on reversing those losses today. The above chart for XRP/USD on the daily time frame shows Ripple (XRP) in a clear ascending channel.

2018-10-13 00:30	ripple
xrp ripple market going very price investors

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Has Bitcoin (BTC) Finally Succumbed To Stock Market Pressure?

Bitcoin (BTC) held its ground when the stock market plunged deep into the red yesterday. Both the S&P 500 and Dow Jones Industrial Average registered significant drops. However, Bitcoin (BTC) remained unaffected by it.

2018-10-11 17:00	Bitcoin
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Crypto Community Riled at Russian Exchange’s Coin Pump Scheme

The crypto market has just entered into another tough period when a lot of coins started losing its value. In the midst of all the chaos, one cryptocurrency exchange announced a new pump scheme on several random coins, while hoping to get a boost itself.

2018-10-11 16:00
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iCash: Old iCenter Crypto Ad Packs Trading Group Gone New MLM?

iCash Review Today our blog will review iCash. This new crypto trading bot is based on Telegram and has been called a Ponzi scheme by many. Is it true? Should you trust iCash? Read the review and find out.

2018-10-8 22:25
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Nordic Region’s Largest Bank Nordea Suspected of Money Laundering

Nordea, the largest bank in the Nordic region, is reportedly suspected of being part of a major international money laundering scandal. The scheme allegedly involved a Russian client and took place over multiple years at an international branch of the bank that is now closed.

2018-10-5 09:40	Virtual Currency
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Russia's Central Bank Revealed Crypto Related Ponzi Scheme

The financial scam project known as Cashberry lured thousands of unsuspecting people offering sky-high returns on traditional and cryptocurrency investments.

2018-9-28 09:49	News
people offering unsuspecting lured thousands sky-high returns

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Federal Judge Rules Cryptocurrency MBC Is a Commodity

In a landmark case for the cryptocurrency industry, a federal judge has ruled that a cryptocurrency caught in the midst of a lawsuit is a commodity, court documents reveal.

2018-9-28 23:15	Digital assets
coin big commodity securities cryptocurrency cftc judge

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Is Ripple (XRP)’s Wild Bullish Spree Sustainable?

Ripple (XRP) has been on a wild bullish spree these past few days. A lot of people even in the crypto community have been trying to wrap their mind around how Ripple (XRP) has achieved such gains without the blessing of Bitcoin (BTC).

2018-9-27 00:30	XRP
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SEC Seeks Court Sanction Against PlexCoin ICO Founders

The SEC is taking seeking further action against the founders of the Plexcoin crypto scheme, alleging they are not complying with court orders.

2018-9-27 20:00
plexcoin sec against founders court alleging scheme

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$300M Bitcoin Ponzi Scheme: Indian Scammers Face Justice

Money attracts thieves and masterminds of what could be the largest Bitcoin Ponzi scheme in history are facing justice. Vivek Bhardwaj, a software developer and brother of Gain Bitcoin founder and CEO Amit Bhardwaj, was brought to Delhi, India on Sept.

2018-9-24 21:30	Ponzi scheme
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AWS Mining Cryptocurrency MLM Scam Outed as a Bitcoin Ponzi Scheme

AWS Mining Outed As A Ponzi Scheme Popular scam watchdog site “Behind MLM” published a lengthy article recently outlining their belief that the AWS Mining company is an overt Ponzi scam selling unregistered, illegal securities to unknowing victims.

2018-9-21 19:01	News
ponzi mining scam aws scheme mlm outed

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Congressional Committee Calls for Clearer Crypto Tax Code in Letter to IRS

In an open letter to the Internal Revenue Service (IRS), the U. S. House’s Committee on Ways and Means argues that the tax collection body is leaving investors in the lurch with its vague cryptocurrency tax codes.

2018-9-21 23:35	Regulation
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Bitcoin Magazine’s Week in Review: Making Strides Across Industries

Industry buzz surrounded Ethereum this week as community members await the next stage of the coin’s development. The protocol also served as the jumping-off point for a new fully regulated stablecoin.

2018-9-16 18:41
ethereum week bitcoin judge settlement could court

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Ex-CEO of Crypto Company Sentenced to Prison for Fraud, Fined $9 Million

The former CEO of a cryptocurrency company has been sentenced to prison time and ordered to pay $9 million in restitution due to his company’s role in a major Ponzi scheme that cost hundreds of investors millions of dollars.

2018-9-16 21:45	SEC
company sentenced prison million crypto ex-ceo fraud

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Texas Man Sentenced to Jail after Being Found Guilty of $9 Million Crypto Fraud

A Texas man, formerly a citizen of Somer, has been sentenced to 21 months in prison for his involvement in a cryptocurrency Ponzi scheme worth $9 million. Homero Joshua Garza, the 33-year-old convict, will be put under three years of supervised release after his jail term ends.

2018-9-15 07:00	Ponzi scheme
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Bitconnect Is Officially Dead

“BITCONNEEEEECT” The famous words of the Carlos Matos, the mind behind the ‘brilliance’ of what was Bitconnect. Bitconnect is now cryptos most infamous pyramid scheme and was a hot topic for discussion after the hilarious ‘press conference’ earlier in the year.

2018-9-12 16:00
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Bitconnect Finally Gets Delisted From All Crypto Exchanges — “Officially Dead”

Crypto Exchange TradeSatoshi Bids Bitconnect Farewell Bitconnect, crypto’s now most infamous pyramid scheme, used to a hot topic of discussion within the cryptosphere, with everyone and their dog having something to say about the project.

2018-9-12 07:06	Scam
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OKEx Founder Released After Questioning in Connection With Suspected Coin Fraud

The founder of cryptocurrency exchange OKEx was detained for questioning on September 10, 2018, by Shanghai police to investigate a case of suspected digital currency fraud related to WFee coin.

2018-9-12 23:42	Law & justice
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OKex and OKCoin Crypto Exchange Founder Star Xu Questioned for Investor Fraud Allegations

Shanghai Police Questioning Star Xu, Founder of World’s Second Largest Crypto Exchange Shanghai police have brought in Star Xu, who has been allegedly involved in a fraudulent scheme concerning WFEE coin, of which he is currently a shareholder.

2018-9-11 17:47	News
star allegations shanghai police questioned wfee exchange

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NYAG sues crypto firms NovaTechFx and AWS Mining for alleged $1b fraud

New York AG Letitia James has sued crypto firms NovaTechFx and AWS Mining for allegedly defrauding over 11,000 individuals out of more than $1 billion in a pyramid scheme. New York Attorney General (NYAG) Letitia James filed a lawsuit on…

Blast's One-Week, $600M Haul Shows Promise of Yield, Pitfalls of Hype

The idea of a yield-paying layer-2 blockchain atop Ethereum has clearly demonstrated market allure. But even the project's biggest investor has taken issue with the execution and marketing surrounding the initial rollout.

Thai Officials to Investigate Alleged Cryptocurrency Pyramid Scheme

20 victims of an alleged $2.5 million cryptocurrency pyramid scheme have appealed to Thailand’s Department of Special Investigation to investigate their case

Top 4 Reasons to Shun the “new” BitConnect 2.0 Exchange

In the world of cryptocurrency, there is always some sort of controversy worth keeping an eye on. While no one benefits from these dubious projects and scams, they tend to spark some interesting debates.

Brazil Shuts Down Cryptocurrency Pyramid Scheme That Defrauded 55,000 of $200 Million

Brazillian police have arrested ten people suspected of operating a cryptocurrency pyramid scheme worth 850 million reals ($210 million)

What Is FOMO3D?

Even though the cryptocurrency world allows for a lot of innovation, its underpinning technology is often used for the oddest ventures. In the case of FOMO3D, it is a very interesting game, although it’s also clearly a “legitimate” pyramid scheme which will cause at least one individual to lose a lot of money. The FOMO3D […]

2024-8-13 22:24

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