Fraud

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Texas State Securities Board Has Uncovered 32 Illegal Crypto Offerings Since December

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Texas has always been an interesting state, even though it tends to do its own thing. Even so, the Lone Star State is keeping a very close eye on cryptocurrency offerings and the risk of fraud associated with this particular business model. Unfortunately, it seems there are a lot of ongoing investigations in this regard, which further confirms … Read more

Vietnam’s Prime Minister Directs Central Bank to Strengthen Cryptocurrency Framework

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The Prime Minister of Vietnam has signed a directive for the country’s central bank and the Ministry of Finance to strengthen the management of cryptocurrency-related activities. This follows an alleged fraud involving a cryptocurrency that scammed 32,000 Vietnamese out of VNĐ15 trillion. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Prime Minister’s … Read more

How an OTC Bitcoin Scammer Almost Stole $600 Million

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OCT trading involves high value deals that can run into the hundreds of millions of dollars. Whales want privacy and zero slippage, which isn’t possible on a cryptocurrency exchange, while buyers want large quantities of bitcoins at below market rates. It’s an arrangement that suits both parties, but for it to work, trust is essential … Read more

CEO of Korean Exchange Coinnest among Four Arrested for Fraud

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South Korean police have arrested four high-ranking representatives of two cryptocurrency exchanges, including Coinnest’s CEO. They were detained on arrest warrants issued after a fraud investigation, prosecutors said. The executives are accused of embezzling funds belonging to customers and may face additional charges. Also read: Three South Korean Crypto Exchanges Raided for Diverting Funds Suspects … Read more