Crypto Scam

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Bank of Namibia Warns Crypto Traders It ‘Will Not Entertain Complaints’ if They Get Scammed

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The Bank of Namibia (BON) has warned individuals investing in cryptocurrencies that it will not entertain their complaints should they get scammed. The institution argues that since its mandate does not currently cover digital currencies, it lacks the “legal power” to follow up on such complaints. Growing Namibian Interest in Crypto This latest BON warning … Read more

NYAG Court Order to Shut Down Coinseed Succeeds, CEO Creates Profanity Token for Attorney General

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The crypto trading platform Coinseed is shutting down operations according to a written statement from the company’s CEO Delgerdalai Davaasambuu. A court order secured by New York Attorney General Letitia James told Coinseed to halt all of its operations. Following the announcement of the shutdown, Coinseed’s CEO said he created an ERC20 token called “FLJ” … Read more

Fraudsters Impersonate a US Federal Agency by Sending Emails Asking for Bitcoin Wallet Keys

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U.S. consumers have been receiving fake emails that attempt to impersonate a federal regulatory agency which has raised alarms among crypto community members. The U.S. Office of the Comptroller of the Currency (OCC) warned that such bogus messages ask people for their bitcoin wallet keys. Fictitious Message Contains Several Grammar Mistakes and Typos According to … Read more

Argentinean Police Detain Two People Connected to Alleged Crypto Scam Intense Live

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As cryptocurrencies become a trending topic across Argentina, local authorities hunt virtual currencies scammers amid the coronavirus-driven crisis and high inflation levels. The Argentine Federal Police detained two members of an alleged pyramid scheme operating in a northern province. Investigations Initiated After Two Complaints Filed With the Authorities According to Valle Calchaquí, the operation happened … Read more

Cuban Central Bank Issues Warning on the Rising Number of Crypto-Related Ponzi Cases

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Cuba has witnessed some exciting times in the last few months as far as nationwide digital currency acceptance, but the road toward this goal is still under construction. The country’s central bank recently issued a warning about the rising number of cryptocurrency-related scam cases across the island. Alleged Crypto Scams Are Mentioned in the Alert … Read more

Six People Connected to a $36M Crypto Scam Arrested, Scheme Operated From Multiple Locations in Europe

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Authorities in Germany launched a massive operation that cracked down on a sophisticated crypto scam, resulting in the arrest of six people in different European countries. Initial reports state that such a fraudulent scheme stole over $36.2 million worth in virtual currencies from individuals across Europe. Raids Conducted in Poland, North Macedonia, and Sweden According … Read more

Chinese Investors File Lawsuit Against US-Based Alleged Crypto Fraudster Who Promised $200,000 Profits per Day

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A group of Chinese investors has filed a lawsuit against an alleged crypto fraudster based in New York, United States, who ran a Wechat group where he handled the scheme. The scammer reportedly promoted the bogus investment opportunity by promising earnings of “$200,000 in one day.” Scam Allegedly Ran From 2016 to 2020 According to … Read more

Cuban President Discusses Adopting Cryptocurrencies for the ‘Convenience’ of the National Economy

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Cuba has been actively discussing the possibility of adopting cryptocurrencies over the last few months during high-political summits. This time, the president of the Caribbean island discussed crypto assets once again during a virtual currencies topic on the summit agenda, talking about the possibility to consider it for future economic plans. Discussions Underway Despite Domestic … Read more

US Authorities Seek Court Order to Shut Down Crypto Trading Platform Allegedly Duping Thousands of Investors

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New York Attorney General Letitia James is seeking a court order to immediately shut down the operations of cryptocurrency exchange Coinseed. The attorney general previously filed a lawsuit against the crypto exchange but the platform allegedly continued to operate and dupe investors. US Authorities Take Urgent Action Against Coinseed The Office of Attorney General Letitia … Read more