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Popular messaging app Kik is shutting down due to a Securities and Exchange Commission lawsuit regarding ICO activity for the company’s cryptocurrency, kin. Ted Livingston, Founder and CEO of Kik and Kin, denies the allegations and maintains that the SEC’s case is based on mischaracterizations, but that shutdown for Kik is necessary to focus on … Read more
Influencers are cancer upon our society today. While these people get paid to share sponsored opinions on products and services, they are not necessarily a reliable source of information. This is especially true in the cryptocurrency industry, where no one’s opinion should be trusted. The recent NovaChain scam shows how users should always conduct their … Read more
A lot of things are happening in the world of cryptocurrency. While not all of these developments are prominent or even positive, it is important to keep tabs on everything that is going on. It now appears the Bitsane exchange has become defunct and they may have stone customer funds in the process. What is … Read more
Every time money is involved in any business model or project, there is a good chance an exit scam will occur sooner or later. In the cryptocurrency industry, such exit scams are a lot more common than one might think. The following examples show how one should never trust another person on the internet, no … Read more
During the first week of April, news.Bitcoin.com reported on a large swarm of darknet market (DNM) users flocking from Dream to the Wall Street marketplace. However, the migration hasn’t been as successful as it may have first seemed, with some vendors alleging that Wall Street has pulled an exit scam and ran off with $30 … Read more
Most cryptocurrency users are well aware of the recent Oyster project failure. Although it remains unclear if this was an exit scam or something else taking place entirely, legal action appears to be more than warranted. A new dedicated forum has been created to gather complaints and testimonials. Oyster Lawsuit Hangs in the Balance Most … Read more
Less than two months from today, NASDAQ and Bakkt are slated to launch their cryptocurrency trading tools to institutional investors. At the same time, major projects continue to exit scam and defraud their communities. It’s just another day in crypto. On October 29, creator of the Oyster (PRL) project exploited a vulnerability in the token’s … Read more
It’s not secret that a dauntingly large percentage of ICOs are fraudulent from the start. However, in most cases, it’s quite simple for speculators to separate the scams, and funds are primarily accumulated from inexperienced or otherwise naive investors that the coin offering targets. Unfortunately, every now and then, these scams pass, unsuspected, until the … Read more
The ethereum network has another pair of smash hit dapps. The decentralized applications have proven to be a viral success over the past week, amassing more transactions than IDEX and accruing seven-day trading volume of 180,000 ETH. There’s just one problem: both dapps are ponzi schemes in which virtually everyone who plays will lose. Also … Read more
Watchdog ICOs exit scamming; ERC20 token wallets getting emptied via smart contract bugs; people dying in token sale publicity stunts: the world of ICOs has become so bizarre it’s impossible to tell what’s real and what’s satire. As a glimpse into the events of the past week shows, there’s never a dull day in ICO … Read more
