The Domino Effect of Mass Delisting Bitcoin SV by the Cryptocurrency Industry

The Domino Effect of Mass Delisting Bitcoin SV by the Cryptocurrency Industry

The US-based cryptocurrency exchange Kraken has announced that it will be delisting Bitcoin SV (BSV). Kraken launched a poll on Twitter in which over 70% of the participants backed the sentiment that BSV should be removed. Here are the poll results: This move makes Kraken the latest addition to the increasingly growing list of exchanges that are turning against Bitcoin SV. On April 15, 2019, Blockchain.com announced they would be removing support, stating: “After careful…

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Romanian “Bayrob Group” Cybercriminals Convicted in Ohio after 12-Year Scam

Romanian “Bayrob Group” Cybercriminals Convicted in Ohio after 12-Year Scam

According to a press release by the Department of Justice (DoJ), a federal jury in Ohio convicted two Romanian cybercriminals on 21 counts for infecting over a hundred thousand of computers in the U.S. with malware and duping victims out of millions of dollars. On Thursday, April 11, a federal jury declared two cybercriminals from Bucharest, Romania to be guilty of their involvement in a nefarious scheme in which malware was used to hijack the…

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Singapore Police Arrests Two Promoters of the OneCoin Cryptocurrency Scam

Singapore Police Arrests Two Promoters of the OneCoin Cryptocurrency Scam

OneCoin has been labeled as a fraudulent cryptocurrency by a number of countries around the world. In fact, many people connected with the promotion of OneCoin have been arrested in the past four years; those include the ringleader Konstantin Ignatov who was arrested at the Los Angeles International Airport on March 6, 2019. Recently, Singapore has also came to the same conclusion about OneCoin as two men connected with the scheme were arrested for duping…

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Bail Granted to $300 Million Bitcoin Ponzi Scheme Mastermind by India’s Supreme Court

Bail Granted to $300 Million Bitcoin Ponzi Scheme Mastermind by India’s Supreme Court

The Supreme Court of India has granted interim bail to Amit Bhardwaj in a $300 million Bitcoin Ponzi scheme case which was lodged against him by the Economic Directorate (ED). According to his lawyer, the GainBitcoin founder was suffering from kidney failure for several months prior to the bail grant and had been skipping hearings since December 2018 in 12 criminal cases filed against him. This Bitcoin Ponzi scheme is one of India’s worst public…

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Swiss Financial Watchdog FINMA Slams the Door on Envion AG Due to Illegal ICO

Swiss Financial Watchdog FINMA Slams the Door on Envion AG Due to Illegal ICO

As expected of any large industry, the crypto sphere is littered with both the good and bad eggs. Unfortunately, the bad eggs sometimes tend to be too many to hand pick. However, financial watchdogs of individual countries are unrelentingly struggling to fish out these con men out of the crypto space; and thus, creating a safer and better environment for crypto investors and enthusiasts to trade in. Although the size and drawbacks of the crypto…

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46-Year-Old New Yorker Faces 20 Years in Prison for Swindling Crypto Investors

46-Year-Old New Yorker Faces 20 Years in Prison for Swindling Crypto Investors

A 46-year-old Staten Island-based crypto trader is now facing 9 different charges as he swindled nearly $200,000 in cryptocurrency and cash by duping investors. Patrick McDonnell (AKA “Jason Flack) owner of a firm called CabbageTech, has been charged with wire fraud after soliciting investments on Facebook and Twitter, and allegedly using the money for personal use. The defendant was taken into police custody and an arraignment was held later in the day before the Magistrate…

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Delhi Police Arrests Four Suspects for a $14.5 Million Cryptocurrency Scam

Delhi Police Arrests Four Suspects for a $14.5 Million Cryptocurrency Scam

The world of crypto is full of Ponzi schemes, deceptive scams, and all sorts of illicit activities that you can imagine, which hurt innocent people. There are always some new ways that fraudsters would come up with to dupe people with no or very little knowledge of crypto trading and investing. One such case was recently reported in the capital of India, New Delhi. Last Monday, the city crime branch has arrested a gang of…

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18-Year-Old Japanese Hacker Arrested for $135K Cryptocurrency Theft from Monappy

18-Year-Old Japanese Hacker Arrested for $135K Cryptocurrency Theft from Monappy

An 18-year-old Japanese boy, whose name is kept by the police because he is a minor, was handed to prosecutors over ¥15 million worth of cryptocurrency (around $135K) theft last year by taking advantage of vulnerabilities presented in the cryptocurrency wallet website Monappy. Local news outlet The Japan Times also reported that the case is one of its kind in Japan; this is the first time that criminal charges have been filed against a hacker…

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Canadian Police Seeks Public Help with Multiple Bitcoin Frauds: 4 Suspects Wanted

Canadian Police Seeks Public Help with Multiple Bitcoin Frauds: 4 Suspects Wanted

True, cyber attacks, especially through cryptocurrencies are common in just about any country; however, if there was a record keeper, this has got to be one of the worst hits so far. Canadians have had their fair share of crypto frauds – if not slightly above fair. In 2018 alone, they recorded several crypto frauds including those perpetrated through sim swapping. And just when we thought we have heard the last of such crimes, the…

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GSR Markets Sues Lawyer, Seller and Wells Fargo for Losing $2 Million in Bitcoin

GSR Markets Sues Lawyer, Seller and Wells Fargo for Losing $2 Million in Bitcoin

The Hong Kong-based crypto company GSR Markets has reportedly sued the legal firm McDonald and McDonald Law together with a supposed Bitcoin seller and also the banking giant Wells Fargo over a poorly managed escrow account and a Bitcoin transaction going wrong, very wrong. The plaintiff (GSR Markets) claims that it wired $4 million on January 3rd to an escrow account supposedly managed by the law firm. The amount was paid into the escrow account…

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