Bitcoin Fraud – DIGIT INFO

Chainalysis: $100 Billion in Illicit Crypto Funds Traced Since 2019

DIGIT — Sat, 13 Jul 2024 11:16:08 +0000

Crypto analytics firm Chainalysis has previewed an in-depth report on money laundering within the crypto space, providing insights into tracing illicit funds and advanced identification techniques. The firm discovered that since 2019, nearly $100 billion has been transferred from known illicit wallets to conversion services. The report underscores the need for broad expertise among law […]

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Attorney Disbarred After Misappropriating $4 Million in Bitcoin Funds

DIGIT — Fri, 14 Jun 2024 01:27:52 +0000

The Supreme Court of Georgia, the highest judicial authority of the U.S. state of Georgia, has disbarred attorney Diana McDonald on June 11 for misappropriating $4 million from a bitcoin escrow transaction. In 2019, McDonald acted as a fiduciary for a client involved in a Bitcoin deal that failed to deliver the promised cryptocurrency. Despite […]

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JPMorgan CEO Jamie Dimon: Bitcoin Is a Fraud, There’s No Hope for BTC as a Currency

DIGIT — Sun, 21 Apr 2024 03:31:47 +0000

JPMorgan Chase CEO Jamie Dimon has doubled down on his anti-bitcoin stance, emphasizing that the crypto is a fraud with no future as a currency. “It’s a Ponzi scheme,” the executive stressed. However, despite his strong opinion about bitcoin, JPMorgan is an authorized participant for Blackrock’s spot bitcoin exchange-traded fund (ETF). Dimon, while advising investors […]

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US Court Orders Operator of South African Bitcoin Ponzi Scheme to Pay Over $3.4 Billion

DIGIT — Tue, 02 May 2023 00:00:31 +0000

Johann Steynberg, the founder and CEO of Mirror Trading International, has been ordered to pay over $1.73 billion in restitution to victims of his bitcoin ponzi scheme. The court has also ordered Steynberg to pay a civil monetary penalty of a similar amount. The Commodity Futures Trading Commission (CFTC) conceded that orders requiring payment of […]

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JPMorgan CEO Jamie Dimon Calls Bitcoin ‘Hyped-up Fraud’ — Expects Satoshi Nakamoto to Increase BTC Supply Cap

DIGIT — Sat, 21 Jan 2023 01:30:04 +0000

JPMorgan Chase CEO Jamie Dimon calls bitcoin “a hyped-up fraud.” The executive questioned the cryptocurrency’s supply cap, expecting a picture of bitcoin’s pseudonymous creator Satoshi Nakamoto to pop up and laugh at us all when bitcoin’s supply hits 21 million coins. JPMorgan’s CEO on Bitcoin and Its Supply Cap The CEO of global investment bank […]

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Bitcoin Fraud-Accused South African Radio Presenter Threatens Legal Action

DIGIT — Tue, 14 Jun 2022 09:30:44 +0000

Following accusations that he defrauded investors in his bitcoin investment scheme, the South African radio presenter Sebasa Mogale has said he will take legal action against individuals that have reported him to the police. His lawyer insisted that no evidence will be found because Mogale never committed fraud. Five Fraud Cases Opened Against Mogale Sebasa […]

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Cryptsy CEO Indicted for Defrauding Crypto Investors, Destroying Evidence

DIGIT — Fri, 28 Jan 2022 15:30:53 +0000

The CEO of cryptocurrency exchange Cryptsy has been indicted in the U.S. The 17-count indictment charges the crypto exchange executive with “tax evasion, wire fraud, money laundering, computer fraud, tampering with records, documents, and other objects, and destruction of records in a federal investigation,” the DOJ said. Cryptsy’s CEO Faces 17-Count Indictment The U.S. Department […]

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US Sentences Bitcoin Seller to 1 Year in Jail for Defrauding Investors

DIGIT — Thu, 27 Jan 2022 11:00:52 +0000

A bitcoin seller has been sentenced to one year and one day in jail for defrauding customers, according to a notice by the U.S. Department of Justice (DOJ). The man took money from customers but did not provide them with the agreed-upon bitcoin. Fraudulent Bitcoin Seller Going to Jail The U.S. Department of Justice (DOJ) […]

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Alleged South African Bitcoin Fraudster Makes First Court Appearance Since Arrest

DIGIT — Tue, 26 Oct 2021 04:30:59 +0000

Sandile Shezi, the South African bitcoin trader accused of defrauding investors, recently made his first court appearance before a Johannesburg magistrate. Shezi out on Bail The bitcoin trader’s court appearance came just days after he honored his pledge to surrender himself to the police. However, according to a report by the Sowetan, Shezi — who […]

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Fraud-Accused South African Bitcoin Trader to Turn Himself Over to Police: Report

DIGIT — Tue, 19 Oct 2021 11:30:02 +0000

Sandile Shezi, the young South African bitcoin trader who is facing fraud charges, has denied allegations he scammed shareholders in his Global Forex Institute. Shezi: Shareholders Signed Up for Education, Not Investments Despite his rejection of the allegations, a spokesperson for the country’s police told the Sunday Times newspaper that Shezi has agreed to turn […]

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