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Analysts have begun to try to explain the weak performance of HMSTR, the Hamster Kombat official game token, since its token generation event and subsequent airdrop. Neomarkets chief analyst Oleg Kalmanovich assessed that one of the key problems for the projects included the dilution of HMSTR, calling its airdrop a time Ponzi scheme. Hamster Kombat … Read more
The U.S. Securities and Exchange Commission (SEC) has frozen the assets of Jonathan and Tanner Adam, alleging they ran a $60 million Ponzi scheme under the guise of a crypto trading bot. Over 80 investors were defrauded by promises of high returns, while the funds were allegedly used for personal luxuries. The SEC seeks injunctions, … Read more
Yang Bin, a 61-year-old Dutch national, was sentenced by a Singapore court to six years in prison and fined S$16,000 Singapore dollars for orchestrating a cryptocurrency Ponzi scheme. Yang’s company, A&A Blockchain Innovation, falsely claimed to own 300,000 cryptocurrency mining machines, promising investors a daily return of 0.5%. In reality, the company had no such … Read more
Montenegrin police arrested FutureNet co-founder Roman Ziemian, alleging he was living under a false identity in the country’s capital city. Go to Source
Indian authorities have arrested a man for allegedly kidnapping two employees of BitConnect creator Satish Kumbhani and extorting $125 million in crypto. Go to Source
The Orissa High Court in India has reaffirmed that cryptocurrency trading and transactions are neither banned nor deemed illegal in India. Citing the legality of crypto, the court granted bail to Sandeep Chowdhury, CEO of Yes World, who was accused of defrauding investors through a Ponzi scheme disguised as a cryptocurrency business. Orissa High Court … Read more
An Illinois judge has sided with the Commodity Futures Trading Commission in a crypto fraud case, labelling two altcoins, OHM and KLIMA, as commodities. Go to Source
The Securities and Exchange Commission of the Philippines issued an advisory on Wednesday to inform the public that Skyline Crypto and Dry Goods Trading is not authorized to solicit investments from the public. The company has been offering investment opportunities online, promising returns of 35% in 15 days and rewards like smartphones and vehicles. Skyline … Read more
India’s Enforcement Directorate (ED) has conducted searches that uncovered a Ponzi scheme involving cryptocurrency operations and HR Crypto Coin, leading to significant asset seizures and freezing. The coins were part of the scheme, luring people to invest with promises of a 15% annual interest rate and offering 30% direct referral income for introducing new customers. … Read more
The Orissa High Court in India ruled that cryptocurrency dealings are not illegal under Indian law. This decision arose from a case involving individuals accused of fraud through a Ponzi scheme. Justice Sasikanta Mishra clarified that cryptocurrency is not considered money under the Prize Chits and Money Circulation Schemes (Banning) Act or a deposit under … Read more
