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Mixing conspiracy theories, a distrust for traditional institutions and hopium in crypto, two influencers are alleged to have made millions using pump-and-dump schemes. Go to Source Powered by WPeMatico
Nearly half of the consumers that reported a cryptocurrency-related scam in 2021 said it started with an ad, post, or message on social media. Go to Source Powered by WPeMatico
Links posted to a fake Louis Vuitton non-fungible token (NFT) raffle were made to capitalize on a recent real collaboration between Beeple and the luxury fashion brand. Go to Source Powered by WPeMatico
The U.S. Securities and Exchange Commission (SEC) has halted a $62 million global cryptocurrency trading and mining scheme and the Department of Justice (DOJ) has indicted its CEO and founder. If convicted of all counts, he faces a maximum total penalty of 45 years in prison, the Justice Department. SEC Halts $62M Global Cryptocurrency Fraud … Read more
The founder of the $3.4 billion crypto Ponzi scheme Bitconnect has been charged in the United States. “If convicted of all counts, he faces a maximum total penalty of 70 years in prison,” said the U.S. Department of Justice. Bitconnect’s Founder Could Go to Prison for 70 Years The U.S. Department of Justice (DOJ) announced … Read more
Indian police have arrested 11 people so far in connection with a fraudulent cryptocurrency scheme that has duped about 2,000 investors out of $5.4 million. 11 People Arrested so Far in Cryptocurrency Scam in India Indian police have cracked down on a cryptocurrency investment scheme that has duped over 2,000 investors out of 40 crore … Read more
Seven executives of the collapsed South Korean scam cryptocurrency exchange, V Global, were recently handed lengthy jail sentences as punishment for their role in running one of the country’s biggest crypto frauds. Verdict Sets New Benchmark Seven former masterminds of the now-defunct scam crypto exchange, V Global, were recently given jail sentences for their part … Read more
Cryptocurrency exchange Binance has warned investors of a “massive phishing scam via SMS.” The scammers sent SMS messages to crypto users informing them of a withdrawal request from an unknown IP address they may want to cancel. Massive Phishing Scam Targeting Crypto Investors Binance CEO Changpeng Zhao (CZ) tweeted Friday: There is a massive phishing … Read more
Indians visited crypto scam websites nearly 10 million times last year, according to blockchain data analytics firm Chainalysis. The top crypto scam sites alone were visited 4.6 million times by Indian users. Millions of Indians Visit Crypto Scam Sites Indians visited scam crypto websites in droves over the past years, according to data from blockchain … Read more
The U.S. Federal Trade Commission (FTC) has warned consumers about scams involving cryptocurrency ATMs. “There’s a new spin on scammers asking people to pay with cryptocurrency,” the FTC described. FTC’s Warning About Scams Involving Cryptocurrency ATMs The U.S. Federal Trade Commission (FTC) issued a scam alert involving cryptocurrency ATMs Monday. The consumer notice, posted by … Read more
