Founder of Coin Signals Funds Pleads Guilty in Crypto Scam — Faces up to 10 Years in Prison

Crypto Fund Manager ‘Coin Signals’ Pleads Guilty in $5 Million Crypto Fraud SchemeThe founder and manager of several cryptocurrency funds has pleaded guilty to luring investors to his crypto investment scam. His funds consistently lost money and his scam left investors with a $5 million loss, according to the U.S. Department of Justice (DOJ). Investors Scammed Into Investing in Coin Signals’ Funds The U.S. Department of Justice […]

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Finiko Founder Doronin Offers to Testify Against 44 Accomplices at Crypto Pyramid

Finiko Founder Doronin Offers to Testify Against 44 Accomplices at Crypto PyramidKirill 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 […]

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Onecoin Victims Petition Bulgaria for Seizure of Assets and Compensation

Onecoin Victims Petition Bulgaria for Seizure of Assets and CompensationA 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 […]

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Finiko Fugitives Suspected of Moving 750 BTC From Crypto Pyramid’s Wallet

Finiko Fugitives Suspected of Moving 750 BTC From Crypto Pyramid’s WalletA large amount of cryptocurrency has reportedly been withdrawn from a wallet previously controlled by the Finiko Ponzi scheme in Russia. The wallet’s unknown operators have transferred coins worth $48 million this month. The digital currency was split into smaller amounts and deposited to different addresses. 750 BTC Removed From Crypto Pyramid Finiko Wallet A […]

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Unnamed South African Investor Proposes Buying 51% Stake in Collapsed Crypto Firm for $5 Million

An unknown investor has proposed to acquire a 51% stake in Africrypt — the collapsed cryptocurrency investment company — for a purchase price of $5 million. However, in exchange for the offer, the investor wants all criminal proceedings against Africrypt directors dropped. Offer Must Be Supported by 75% of Creditors According to a report by […]

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An In-Depth Look at Olympus DAO Protocol and the Not-So-Stable Stablecoin OHM

An In-Depth Look at Olympus DAO Protocol and the Not so Stable Stablecoin OHMIn mid-October, Bitcoin.com News reported on how decentralized finance (defi) or algorithmic stablecoins have seen significant demand in 2021. One particular stablecoin called OHM is quite different from the traditional reserve currency defi protocols today, as OHM is a free-floating currency backed only by what’s held in the Olympus DAO treasury. OHM may not be […]

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Investors Lost $10,000 on Average to Russian Crypto Pyramid Finiko, Poll Reveals

Investors Lost $10,000 on Average to Russian Crypto Pyramid Finiko, Poll RevealsInvestors defrauded by the Russia-based cryptocurrency Ponzi scheme Finiko have sent the crypto pyramid an average exceeding 720,000 rubles, or more than $10,000 at current exchange rates. The assessment comes from a survey of victims conducted by a public non-profit organization. Fifth of Finiko Investors Parted With Over 1 Million Rubles Russia is still trying […]

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Cryptocurrencies Have ‘No Intrinsic Value’ Says South African Hedge Fund Guru

Jean-Pierre Verster, the founder of a South African hedge fund Protea Capital Management, has said he does not believe there is “intrinsic value” in cryptocurrencies. He insists that cryptocurrencies have “elements of a Ponzi scheme” and for that reason, he has not invested in them. A ‘Wonderful Technology’ In remarks made during an interview, Verster […]

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Russia, US in Top 3 for Crypto-Related Threats, Cybersecurity Report Unveils

Russia, US in Top 3 by Crypto-Related Threats, Cybersecurity Report UnveilsThreats related to cryptocurrency have followed prices, decreasing significantly after the market slump in May, suggests a recent report released by a leading internet security firm. Detections fell by almost a quarter but Russia remains the most affected country, with the U.S. ranking in the top three as well. ESET: 1 in 10 Crypto-Focused Threats […]

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Law Enforcement in Russia’s Samara Region Investigates 8 Cases of Fraud Related to Finiko

Law Enforcement in Russia’s Samara Region Investigates 8 Cases of Fraud Related to FinikoThe 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 […]

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