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Texas regulators targeted an alleged crypto investment and MLM scheme that promised millionaire status, passive income, and high monthly returns through recruitment and trading codes. The order also cites withdrawal fees, investor lockups, and claims of low-risk, AI-assisted trading. Texas Order Flags Crypto Returns, Recruitment, and Investor Lockups The Texas State Securities Board stated on … Read more
Andrew Left, the prominent short seller behind Citron Research, was found guilty of securities fraud by a U.S. federal jury, which convicted him on 13 of 17 counts after a three-week trial in Los Angeles. A Landmark Case Over Posts and Trades A Los Angeles federal jury found Andrew Left, the 55-year-old founder of Citron … Read more
The U.S. Securities and Exchange Commission has sued a Texas entrepreneur it says raised $12.3 million from about 150 investors by promising profits from artificial-intelligence trading bots that did not exist. A “ Crypto Arbitrage” Operation Built on a Lie According to a complaint filed on May 29, the Securities and Exchange Commission (SEC) has … Read more
British Olympic sprinter CJ Ujah and nine other individuals appeared before U.K. on May 28 on charges related to an organized cryptocurrency fraud scheme. Crypto Fraud Allegations British sprinter and Olympian CJ Ujah appeared in a U.K. court recently to face charges of belonging to an organized crime group that operated a cryptocurrency scam. Ujah, … Read more
Chinese nationals charged in an international cryptocurrency fraud and human trafficking ring in Namibia failed to appear in court and have been traced back to China. State authorities have requested Interpol’s assistance to locate them. Six Chinese nationals facing human trafficking and cryptocurrency fraud charges in Namibia have fled the country and been traced back … Read more
An alleged support impersonation scheme led to more than $13 million in cryptocurrency wallet losses, according to the DOJ. The case centers on fake support claims, unauthorized digital account access, wallet transfers, and laundering through luxury spending. Support Impersonation Scheme Led to Crypto Wallet Losses The Department of Justice (DOJ) announced on May 11 that … Read more
China confirmed its involvement in the operation that resulted in the arrest of 276 suspects and the closure of nine crime-focused facilities. The initiative might mark a new era of international cooperation to tackle and end pig-butchering scams. China Collaborated in the Largest International Anti-Pig Butchering Scam Operation While criminals are leveraging cryptocurrency and digital … Read more
A delivery-worker ruse escalated into a violent cryptocurrency robbery case involving firearms, restraints, and an alleged gunpoint transfer of approximately $6.5 million from a victim’s accounts. Delivery Disguises and Gunpoint Crypto Transfers Detailed A federal grand jury indicted Elijah Armstrong, Nino Chindavanh, and Jayden Rucker on robbery, kidnapping, and conspiracy charges tied to a violent … Read more
David Schwartz warned XRP Ledger users about rising airdrop and giveaway scams targeting the community. The Ripple CTO Emeritus said impersonators on Instagram, Telegram, and other platforms are likely scammers. David Schwartz Warns XRP Users as Fake Airdrops Spread David Schwartz, CTO Emeritus at Ripple, alerted XRP Ledger users on May 13 to a sharp … Read more
Liquidators of Mirror Trading International, a massive South African crypto pyramid scheme, have received over 9,441 claims totaling nearly $395 million. Shrinking Assets and Rising Legal Costs Liquidators overseeing the collapse of Mirror Trading International (MTI), once described as South Africa’s largest pyramid scheme, have received 9,441 claims totaling nearly $395 million (6.5 billion rands), … Read more