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Former chief executive of the Russian cryptocurrency exchange Wex, Dmitry Vasiliev, has been released from arrest in Warsaw earlier this month. The ex-head of the now-defunct coin trading platform has since returned to Russia while court proceedings against him in Poland are still ongoing. Polish Court Rejects Extradition of Wex Executive to Kazakhstan Authorities in … Read more
Kirill Doronin, mastermind of the Russian crypto Ponzi scheme Finiko, has proposed to testify against dozens of his former associates he claims violated his order to accept only cryptocurrency from investors. The founder of Russia’s largest financial pyramid in modern times has already provided detailed testimonies against a long list of accomplices, a media report … Read more
A lawyer representing investors defrauded by the notorious crypto scam Onecoin has urged authorities in Bulgaria to act on the case, claiming that the “world’s largest pyramid scheme” is still operating from the country. In a petition with the Bulgarian Constitutional Ombudsman, Jonathan Levy accuses officials in Sofia of failing to provide justice to the … Read more
The Russian Ministry of Interior has rejected a request filed by clients of Wex to do its part in the blocking of crypto funds removed from a wallet controlled by the now-defunct crypto exchange. Over 10,000 ETH have been recently withdrawn from the wallet and transferred to other platforms. Wex Victims Try to Freeze $46 … Read more
The investigation into the Russia-based crypto pyramid Finiko is growing with law enforcement officials in Samara region announcing they have launched eight criminal cases against Finiko associates. Authorities are also working to identify more victims of the Ponzi scheme, Russia’s largest in recent years. Finiko Members Under Investigation in Samara, Russia The Russian Ministry of … Read more
Law enforcement in the Russian republic of Tatarstan have made new arrests in connection with the crypto Ponzi scheme Finiko. Two women detained this week are believed to have attracted millions of dollars to the pyramid. The now collapsed Finiko lured investors from a number of countries in the post-Soviet space and around the world, … Read more
Over the last eight years, U.S. law enforcement has seized a great number of bitcoins and at one time, the Federal Bureau of Investigation (FBI) held one of the largest bitcoin wallets after the Silk Road takedown. A recently published report shows the FBI has started using cryptocurrency mixing applications in recent times in order … Read more
Following the arrest of 109 accused members of the $6 billion Ponzi scheme called Plustoken, six alleged members of the team were prosecuted according to a court filing submitted on Monday. The prosecutors say the individuals are “suspected in organizing and leading criminal pyramid schemes.” The Plustoken scam was a large heist that managed to … Read more
It has been a year since the founder of now-defunct crypto exchange Quadrigacx supposedly died in India. However, some 76,000 victims are still out of millions of dollars. A court-appointed lawyer representing them has now requested an exhumation and post-mortem autopsy in Canada of the dead body, highlighting the need to know if Gerald Cotten … 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
