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Category: cryptocurrency fraud
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Binance to Withdraw From Canadian Market Due to Regulatory Climate
Binance, the world’s largest cryptocurrency exchange by trading volume, announced on Friday that it is “proactively withdrawing from the Canadian market.” The company thanked the regulators who worked with them and said that the Canadian market was “small.” Binance Bows Out of Canada Due to Regulatory Guidance The cryptocurrency exchange Binance has decided to withdraw […]Powered by WPeMatico
Congress Questions Coinbase, FTX, Binance, Kraken in Crypto Fraud Crackdown
A House committee has sent letters to four U.S. federal agencies and five cryptocurrency exchanges asking for information about what they are doing to combat cryptocurrency fraud and scams. Congress Questions Regulators and Crypto Exchanges The House Committee on Oversight and Reform sent letters to four U.S. federal agencies and five crypto exchanges on Tuesday […]Powered by WPeMatico
Nevada Man Pleads Guilty in $722 Million Fraudulent Cryptocurrency Scheme
A Nevada man has admitted his role in laundering funds solicited for the Bitclub Network, a $722 million fraudulent cryptocurrency scheme. He also pleaded guilty to tax offenses. Bitclub Network Investor Pleads Guilty The U.S. Department of Justice (DOJ) announced Thursday that Gordon Brad Beckstead, a 57-year-old from Henderson, Nevada, has pleaded guilty in connection […]Powered by WPeMatico
US Charges Indian Citizen in $3.4 Billion Crypto Ponzi Scheme Bitconnect
The founder of the $3.4 billion crypto Ponzi scheme Bitconnect has been charged in the United States. “If convicted of all counts, he faces a maximum total penalty of 70 years in prison,” said the U.S. Department of Justice. Bitconnect’s Founder Could Go to Prison for 70 Years The U.S. Department of Justice (DOJ) announced […]Powered by WPeMatico
UK Police Return $5.4 Million to Cryptocurrency Fraud Victims
The U.K. police have returned over $5.4 million to victims of an international cryptocurrency scam. The police say that almost $10 million more will be returned to victims. So far, 127 more people have filed a claim to recoup their investments. Police Return Funds to Crypto Scam Victims The U.K.’s Greater Manchester Police (GMP) announced […]Powered by WPeMatico
Kenyan Businessman Accused of Defrauding Investors of More Than $140 Million
Businessman and owner of a Kenyan football club, Ricardo Badoer, has been accused of fleecing more than $140 million from investors via his Aidos Kuneen cryptocurrency. Threats Against Investors According to a local report, Kenyan businessman Ricardo Badoer is being accused of defrauding investors via his Aidos Kuneen cryptocurrency of more than $140 million. The […]Powered by WPeMatico
Founder of Coin Signals Funds Pleads Guilty in Crypto Scam — Faces up to 10 Years in Prison
The 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 […]Powered by WPeMatico
Israeli Police Arrest Beitar Jerusalem Owner and 7 Suspects in Multimillion-Dollar Crypto Fraud
Israeli police have arrested eight suspects in connection with a cryptocurrency fraud scheme after raiding their homes and seizing evidence. One of the suspects is Moshe Hogeg, a well-known owner of the premier soccer team Beitar Jerusalem Football Club. 8 People Arrested in Crypto Fraud Scheme in Israel Israeli police arrested eight suspects Thursday allegedly […]Powered by WPeMatico
Japanese Police Arrest 4 Men Allegedly Behind $55 Million Crypto Investment Scheme
Four alleged masterminds of the “Oz Project” have been arrested after duping investors across Japan for at least four years. According to investigators, the scheme raked in $55 million from about 20,000 investors, promising 2.5 times returns in four months. Police in Aichi Prefecture, Japan, said Monday that four men have been arrested for defrauding […]Powered by WPeMatico