Ponzi Scheme

Auto Added by WPeMatico

GAWMiners CEO Joshua Garza Sentenced to Almost 2 Years in Prison

by

The cryptocurrency industry has seen its fair share of scams and nefarious projects over the years. GAW Miners, a project spearheaded by Homero Joshua Garza, is one of the biggest scams to date. Garza now finally faces a two-year prison sentence for his $9m Ponzi Scheme which gave cryptocurrency an even worse reputation. Garza Finally … Read more

Someone Wins $3 Million Jackpot in Ethereum Ponzi Fomo3D

by

Fomo3D, a controversial but highly popular ethereum gambling game, has its first jackpot winner. The aim of the game is to purchase the last key before the timer goes to zero, whereupon it rests for 24 hours. After months of speculation over whether the timer would ever be allowed to reach zero, the question has … Read more

$46 Million of Ether is Locked in a Pair of Ponzi Dapps

by

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

Turcoin Ponzi Scheme Exposed, Founders Flee with Millions

by

Turkey’s so called “national” crypto, Turcoin, has turned out to be a classical example of a Ponzi scheme, local media reported. The founders of the “alternative” digital currency are believed to have fled the country with millions of dollars collected from defrauded investors. The company behind the Turkish token stopped distributing dividends earlier in June. … Read more