US CFTC Takes Civil Enforcement Action Against $11M Crypto Scam Circle Society

US CFTC Takes Civil Enforcement Action Against $11M Crypto Scam Circle Society

The U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against the Nevada-based corporation Circle Society and its owner, David Gilbert Saffron of Las Vegas, for Ponzi-like cryptocurrency scam and registration violations relating to an $11 million cryptocurrency fraud operation. The CFTC filed a civil enforcement action on Monday, September 30, 2019, and accused the defendants for unethical use of funds that were raised to trade in binary crypto and forex options. The case was…

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OneCoin Supporters Send Death Threats to Woman Fighting the Crypto Pyramid Scheme

OneCoin Supporters Send Death Threats to Woman Fighting the Crypto Pyramid Scheme

OneCoin is supposedly a digital currency estimated to have raised over £4 billion globally in the form of investments, but US prosecutors claim that the cryptocurrency is a front for a pyramid scheme, designed just to extract money from its investors. The founder, Ruja Ignatova, has vanished after being charged with money laundering charges since. As a once-hopeful investor herself, Jen McAdam has been working with a group of other investors who are victims of…

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Sextortion Criminals Switch to Altcoins from Bitcoin to Bypass Email Security

Sextortion Criminals Switch to Altcoins from Bitcoin to Bypass Email Security

A new version of sextortion Phishing scams is using alternative cryptocurrency wallet adresses other than Bitcoin(BTC)trade in an attempt to bypass email protections i.e. Secure Email Gateways (SEGs), according to a new report. On Tuesday, Cofense, a leading provider of human-driven phishing defense solutions, revealed that a new malicious technique has been successfully deployed, which helps scammers to bypass security layers implemented by email providers and their Secure Email Gateways (SEGs). Describing the common pattern…

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Prosecution to Call Bank of Ireland Members in OneCoin Money Laundering Case

Prosecution to Call Bank of Ireland Members in OneCoin Money Laundering Case

Several individuals are facing criminal proceedings launched against them for participating in the fraudulent digital currency scheme of OneCoin. Konstantin Ignatov, Ruja Ignatova and Mark Scott, continue to face these proceedings at the New York Southern District Court. The whole crypto Ponzi scheme is estimated to be worth billions of dollars and so far the investigating bodies have identified dozens of people who assisted or operated the fraud in a bid to capture millions of…

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Fraudsters Already Attempt to Impersonate the New Bitcoin Futures Platform Bakkt

Fraudsters Already Attempt to Impersonate the New Bitcoin Futures Platform Bakkt

It appears that crypto fraudsters have already started impersonating the newly-launched Bitcoin futures trading platform Bakkt. Intercontinental Exchange (ICE) launched Bakkt on Monday after being delayed two times in the past. The trading platform facilitates the institutional-grade investors to take positions on the cryptocurrencies through a government-regulated channel. For scammers, that turned out to be an opportunity and they started a series of scams, incorporating the Bakkt website. Cryptocurrency giveaway scams, phishing, and Ponzi schemes…

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Kate Winslet Sues Scammers Using her Identity to Promote Crypto Fraud

Kate Winslet Sues Scammers Using her Identity to Promote Crypto Fraud

Kate Winslet, an A-list Hollywood star, is the recent addition to a long list of popular figures who have experienced frauds committed in their names to promote crypto schemes. Recently, the actress learned that some scammers on the internet were using her images to persuade users to invest in a Bitcoin scam. As soon as the facts were established, she spoke to her legal team and is now reportedly filing a lawsuit against the criminals….

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The SEC Sues ICO Platform ICOBox for Violating Federal Securities Laws

The SEC Sues ICO Platform ICOBox for Violating Federal Securities Laws

According to a press release on September 18, the U.S. SEC has taken legal actions against a blockchain and crypto company called ICOBox and its founder Nikolay Evdokimov for illegally distributing $14 million worth of the company’s digital token and operating as an unregistered broker for other digital asset offerings. The United States District Court for the Central District of California has ordered to conduct the investigation which was led by Brent W. Wilner and…

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Australian Authorities Arrested 21-Year-Old for Crypto Fraud and Money Laundering

Australian Authorities Arrested 21-Year-Old for Crypto Fraud and Money Laundering

The Australian Securities and Investments Commission (ASIC) and the Australian Federal Police (AFP) arrested a 21-year-old Melbourne-based woman for her association in a crypto fraud and identity theft operation run by a group of scammers. If found guilty, she will be charged with a wide range of criminal offenses. The fraudsters reportedly created fake identities to steal the funds from retirement accounts and share trading accounts of unsuspecting individuals. The group used digital coins in…

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Chinese Crypto Scam Uncovered in the Philippines after Police Raid

Chinese Crypto Scam Uncovered in the Philippines after Police Raid

The local authorities in the Philippines have reportedly raided the offices of an alleged cryptocurrency scam and arrested the scammers who were targeting investors in China. According to a Sept. 15 report by local news outlet Inquirer, the raid was initiated by the agents from the Bureau of Immigration, the Presidential Anti-Corruption Commission and the National Police’s Integrity Monitoring and Enforcement Group, and targeted the offices of Grapefruit Services Inc. on the 37th floor of…

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Analysis: Chainlink Engaged in Pump and Dump Scheme to Manipulate LINK Price

Analysis: Chainlink Engaged in Pump and Dump Scheme to Manipulate LINK Price

The blockchain analytic firm, AnChain.ai, recently raised some dust in the crypto sphere when it posted some research findings that suggest Chainlink (LINK) has become a home to the infamous pump and dump scam. Although no confirmations are made yet, the findings by AnChain.ai show that a group of investors are of the habit of manipulating the price of Chainlink’s native cryptocurrency Link. According to the research, which was conducted from April 1 through July…

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