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The Kakao-backed cryptocurrency exchange Upbit has launched a system to reward users for identifying fraudulent multi-level schemes related to cryptocurrencies. The exchange has already identified and reported 20 such schemes to the police. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Reporting Illegal Schemes South Korea’s largest cryptocurrency exchange Upbit has invited … Read more
A gang of criminals of Russian and Ukrainian origin has been apprehended in Spain. They have allegedly stolen $1.24 bln from various financial institutions over 5 years and converted money into BTC to get away. #NEWS Go to Source Powered by WPeMatico
South Korean prosecutors have searched the offices of three cryptocurrency exchanges suspected of buying bitcoin with money stolen from customers’ accounts. According to authorities, the companies turned up on the radar during investigations of dubious transfers in January. The raids have been conducted this week. Also read: Growing Number of South Korean Crypto Exchanges Participate … Read more
The Belgian financial authority has published a list of 19 cryptocurrency trading platforms that it had received complaints about. The regulator says these platforms show signs of fraud. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies 19 ‘Fraudulent’ Crypto Trading Platforms Belgium’s Financial Services and Markets Authority (FSMA) has recently warned about … Read more
By Leslie Ankney Bitconnect faces a mounting series of lawsuits and regulatory action following it’s quick rise and fall as one of the most notorious exit scams in crypto. It’s the blockchain the crypto community loves to hate, first known for its Ponzi scheme as a lending platform offering 1% daily interest. Today, it’s … Read more
HFT giant Virtu has been the target of an apparent clone scam, using its likeness to attract possible investors. The company is threatening legal action and has already approached the authorities about the matter. The promotional matrial for the “coin” in question, Virt, is so bizarre it almost looks like a parody of the current … Read more
Digital marketing guides are filled with cautionary tales of social media faux pas that have caused brand suicide. All it takes is an insensitive tweet from a marketing intern to leave a corporation groveling and its stock in the doldrums. It turns out that the world of cryptocurrency isn’t so different. After sending and hastily … Read more
In the time it takes you to read this sentence, $850 will have been lost to cryptocurrency scams. In the time it takes to complete this article, that figure will have risen to $17,000. Phishing; fraud; theft; hacking; it’s all rife. In the first two months of 2018, there were 22 separate scams involving thefts … Read more
You’ve heard of the scheme, seen the tweets, and been smart enough not to send cryptocurrency in the promise of receiving more back. The Twitter crypto scam, in which fraudsters impersonate the accounts of exchanges and influencers, is as simple as it is pernicious. While the odds of anyone falling for these scams is remote, … Read more
Last year, Apple’s co-founder Steve Wozniak (Woz) revealed he’d purchased bitcoin, likening it to being better than gold. And then, months later, Woz announced he’d sold it all. In the process of selling off his gains, it turns out he was defrauded out of a substantial sum. Also read: How To Regain Control From Nanny Zuck … Read more
