3 / 13 Relevant items tagged with #Fraud
Posts: 384
Posts
Binance Helps Indonesian Authorities Recover Funds in Crypto Fraud Bust
[Sep 25, 2024 2:30 AM] Crypto exchanges Binance and Tokocrypto collaborated with Indonesian law enforcement to crack down on a crypto scam, seizing $200,000 in stolen assets. “During the investigation, multiple individuals involved in managing the accounts that…
US Indicts Two in $260M Bitcoin Heist and Laundering Scheme
[Sep 22, 2024 10:30 PM] Two individuals have been arrested for orchestrating a large-scale cryptocurrency heist, stealing over 4,100 bitcoins. Their complex laundering operation involved using multiple mixers and VPNs to cover their tracks. With the stolen funds, they…
Court Orders New York Man to Pay $36M for Forex, Digital Asset Fraud
[Sep 21, 2024 3:30 AM] William Koo Ichioka has been ordered to pay over $36 million after admitting to a forex and digital asset fraud scheme. His scam, which started in 2018, involved falsifying financial documents and misusing investor funds for personal luxuries like…
US Sentences Nigerian Darknet Fraud Leader to Five Years in Prison for $6M Scheme
[Sep 21, 2024 2:30 AM] A Nigerian national has been sentenced to five years in federal prison for his role in a massive darknet fraud scheme that intended to cause over $6 million in losses, according to the U.S. Department of Justice (DOJ). Using various online aliases…
Making crypto mainstream requires greater efforts to stop fraud
[Sep 19, 2024 10:59 PM] One of the greatest use-cases of blockchain technologies is the ability to improve security and counter malicious actors, but we need to get serious about it.
Terraform Labs Gets Court Approval to Wind Down Operations in Bankruptcy
[Sep 19, 2024 9:10 PM] Terraform Labs has received court approval to wind down operations in bankruptcy following a settlement with the U.S. Securities and Exchange Commission (SEC). The company had been at the center of a scandal that left cryptocurrency investors…
FBI Cracks Down on Illegal Gambling Network Using Fake Crypto
[Sep 19, 2024 8:30 AM] A Denver resident has been convicted of running an illegal gambling business involving several parlors across Colorado. The scheme involved electronic games and a fake cryptocurrency to conceal the exchange of credits for cash, revealing fraud and…
SEC sues ‘fake’ crypto exchanges in first action on pig butchering scams
[Sep 19, 2024 6:06 AM] The SEC has taken action against romance scammers for the first time, charging two allegedly fake crypto exchanges with carrying out fraud.
Inside the Pig Butchering Scam: Real Stories from Victims
[Sep 18, 2024 4:46 PM] The latest Cointelegraph video discusses one of the most dangerous crypto scams, 'Pig Butchering,' where victims are lured into fake investment schemes.
SEC Takes Action Against Fake Crypto Platforms Using Social Media to Deceive Investors
[Sep 17, 2024 11:40 PM] The U.S. Securities and Exchange Commission (SEC) has cracked down on two crypto investment scams, targeting platforms Nanobit and Coinw6. Involving fake relationships to deceive victims via social media, these schemes siphoned millions from…
FBI Seizes Websites Linked to Crypto Recovery Fraud
[Sep 16, 2024 2:30 AM] The Federal Bureau of Investigation’s San Diego office has seized websites linked to three fraudulent cryptocurrency recovery services. The scam preys on victims of crypto fraud by promising recovery of lost funds, often charging significant…
Indian Court Bars Police From Freezing Entire Bank Accounts in Crypto Fraud Probes
[Sep 15, 2024 4:11 PM] An Indian High Court has ruled that police cannot freeze entire bank accounts during fraud investigations. Only fraud-related amounts in bank accounts can be frozen. The decision followed a case where an account was frozen due to a cryptocurrency…
Bitcoin Investor Faces Prison Time for Underreporting Crypto Gains
[Sep 15, 2024 1:30 AM] A bitcoin investor has pleaded guilty to underreporting his cryptocurrency gains, including $3.7 million from BTC sales, resulting in a tax loss to the Internal Revenue Service (IRS) of over $550,000. The Department of Justice emphasized that…
5 US States Settle With GSB Group Over Unregistered Crypto Sales
[Sep 14, 2024 8:30 AM] Five U.S. states have reached a settlement with GSB Group over unregistered securities sales tied to digital assets. Residents of the states will receive refunds for all fiat and cryptocurrency deposits. GSB chairman Josip Heit agreed to cease…
CFTC Teams up With SEC to Fight Cryptocurrency Scams
[Sep 14, 2024 1:30 AM] The Commodity Futures Trading Commission (CFTC) has partnered with several organizations, including the Securities and Exchange Commission (SEC), to educate the public about cryptocurrency scams, especially those involving fake romantic…
FBI Warns of Growing $55 Billion Business Email Scam
[Sep 13, 2024 11:20 AM] The Federal Bureau of Investigation (FBI) has warned of a rising business email compromise (BEC) threat, responsible for $55 billion in global losses over a decade. The scam has affected all 50 U.S. states and 186 countries, with funds frequently…
US Treasury Sanctions Cambodian Tycoon Over Crypto Fraud and Trafficking Links
[Sep 13, 2024 6:30 AM] The U.S. Department of the Treasury has imposed sanctions on Cambodian tycoon Ly Yong Phat and his businesses, linking them to human trafficking and forced labor scams involving cryptocurrency fraud. Victims were manipulated into online scam…
UK Bill Recognizes Digital Assets as Personal Property Under New Law
[Sep 12, 2024 1:30 AM] The UK Ministry of Justice has introduced the Property (Digital Assets etc) Bill to recognize bitcoin and other digital assets as personal property under English and Welsh law. Led by Justice Minister Heidi Alexander, this bill addresses legal…
State Regulator Warns of Crypto Fraud After Investor Loses $750K
[Sep 11, 2024 11:20 AM] The Washington State financial regulator has issued a warning about potential cryptocurrency fraud involving a mining platform and wallet. A Washington investor was scammed out of over $750,000 after investing. Despite the investment supposedly…
SEC Warns of Bitcoin and Ether ETF Risks — Labels BTC, ETH Highly Speculative Investments
[Sep 10, 2024 1:30 AM] The U.S. Securities and Exchange Commission (SEC) has issued a bulletin warning about the risks of bitcoin and ether exchange-traded funds (ETFs), highlighting their speculative nature. The regulator urged investors to consider potential issues…
UK Regulator: 87% of Crypto Firms Fail to Meet Registration Requirements
[Sep 9, 2024 1:30 AM] The UK Financial Conduct Authority (FCA) has revealed that over 87% of crypto registrations were either rejected, withdrawn, or refused as part of its ongoing efforts to combat fraud and enhance consumer protection. In its annual report, the FCA…
Istanbul Police Arrest Omegapro Managers Over $4 Billion Crypto Fraud Scheme
[Sep 8, 2024 6:30 AM] Two managers from the now-defunct crypto fraudulent investment platform Omegapro were arrested in Istanbul, according to Turkish media reports. Dutch executive Robert Velghe was arrested Tuesday, following the July arrest of Swedish co-founder…
FTC Urges Caution as Bitcoin ATM Fraud Cases Skyrocket
[Sep 6, 2024 2:30 AM] The Federal Trade Commission (FTC) has reported a sharp rise in scams involving bitcoin ATMs, with fraud losses increasing nearly tenfold from 2020 to 2023 and exceeding $65 million in the first half of 2024. These scams often involve…
Nigerian Scammer’s Crypto Wallet Seized by Kansas Attorney General
[Sep 6, 2024 12:30 AM] Kansas Attorney General Kris Kobach announced the recovery of an international crypto wallet and stated that the funds will be returned to a Kansas resident defrauded in a crypto scam. This followed a lawsuit against Bimbo Toyin Akinyemi, a…
US Court Imposes $209 Million Penalty in Crypto Ponzi Scheme
[Sep 5, 2024 11:20 AM] The U.S. District Court for the Northern District of Illinois has ordered an Oregon resident and his entities to pay over $209 million in penalties for running Ponzi schemes disguised as crypto and carbon investment programs. This includes…
Court Upholds $1,000 Cap on Daily Crypto ATM Withdrawals in California
[Sep 4, 2024 10:10 PM] A California Superior Court has upheld the Digital Financial Assets Law, which includes a $1,000 daily withdrawal limit for cryptocurrency ATMs. The law also requires crypto ATM operators to obtain licenses and comply with fee limits and new…
Coinbase Legal Chief Criticizes SEC’s Vague Position on FTX Plan — Says Investors Deserve ‘Way Better’
Plastic Surgery Fails to Help Crypto Scammer Evade Arrest After 10 Months
[Sep 2, 2024 3:30 AM] South Korean police arrested a man in his 40s for orchestrating a cryptocurrency scam that defrauded 158 investors of 16 billion won ($12 million). Operating from November 2021 to June 2022, he promised an 18% monthly return on investments in a…
Washington State Probes Alleged Crypto Fraud Linked to Fake Nasdaq Exchange
[Aug 30, 2024 9:30 AM] The financial watchdog in Washington State is currently probing a complaint regarding a cryptocurrency platform that allegedly purports to be associated with the Nasdaq Stock Exchange. This inquiry began after an investor reportedly put in $200,000…