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Chilean cryptocurrency exchange, Badu.com has denied allegations that it fraudulently transferred client funds without authorization. The fraud allegations are being reported by Itau bank and both parties are set to appear before the country’s Tribunal for the Defense of Free Competition (TDLC), which must rule on the case. The Itau Bank, which initially reported the … Read more
Joel Ortiz, a college student who allegedly stole cryptocurrency worth over $5 million, has pleaded guilty and accepted a 10-year prison sentence. Ortiz was arrested last year and accused of hijacking the phone numbers of around 40 people. He is now the first person to be sentenced for the crime, commonly known as SIM swapping. … 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
Identity theft is one of the biggest crimes afflicting countries like the United States and Britain. According to a recent report, in 2016 alone, American citizens lost about USD 16 Billion due this misdemeanour. This figure increases to a staggering USD 106 Billion if we considered a ten year period up to 2016. In the … Read more
One would have hoped that by now investors in Initial Coin Offerings (ICOs) would have learned to be more careful who they trust with their money, but the spate of new scams that are reported every week shows this has yet to happen. The latest group to fall for an ICO fraud are Seele investors. Also … Read more
