A raid on the OneCoin offices in Bulgaria covered 14 associated companies, servers were shut down but the coin remains operational. #NEWS
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Bulgarian Police Raids OneCoin Offices, ‘Ponzi Scheme’ Servers Shut Down
Category: Ponzi Scheme
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CFTC Slaps Fraud Charges on Three Cryptocurrency Entrepreneurs and Companies
It is never good to see the U.S. Commodity Futures Trading Commission go after virtual currency operators. This is especially true when the charges revolve around defrauding customers. Even though interest in cryptocurrencies has soared recently, there are still a lot of people looking to steal your money. With the CFTC now getting involved, it will be interesting to see what type of regulation gets introduced in the future. The CFTC Flexes its Muscles No one should be allowed to defraud investors, no matter what industry they are involved in. As far as the world of cryptocurrency is concerned, we have seen a fairPowered by WPeMatico
Onecoin Offices Raided in Sofia, Servers Shut Down
Bulgarian law enforcement agencies have raided the offices of Onecoin in Sofia as part of a multinational effort to neutralize what authorities call a “centralized cryptocurrency pyramid scheme”. Three million people may have been defrauded by the company which offers services on four continents, according to media reports. Bulgarian officials were diligent enough to note […]
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Bitconnect Ponzi Scheme – No Sympathy From Crypto Community
Too good to be true – cryptocurrency community slays Bitconnect on social media following closure of ‘Ponzi scheme’ lending platform and exchange #ANALYSIS
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India’s Bitcoin Exchange Koinex Suffers From Bank Blocking Crypto Accounts
India continues its shaky experiment with money’s future as its domestic population is wild about cryptocurrency. Its government and regulators are less than thrilled, though. The banking system is siding with minders, causing friction between account holders and crypto exchanges. Everyone is pointing to a lack of clarity in the law as origin for the […]
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Texas Securities Commissioner Cracks Down on BitConnect
Most cryptocurrency enthusiasts are well aware that BitConnect is a very problematic venture. Some people even call it an outright scam, although others still seem to be making money off it without any problems. The Texas Securities Commissioner recently sent the company an emergency cease and desist order. It’s a very big step toward shutting this dubious program down once and for all. Curtain Call for the BitConnect Scheme? Ever since the BitConnect program came to market, people have publicly voiced their concerns over this possible Ponzi scheme. It looks and feels almost identical to OneCoin, with the exception that people can actually tradePowered by WPeMatico
What Is EtherRacing?
It seems there will be a major influx of new Ethereum-based investment opportunities/semi-Ponzi schemes very soon. Following CryptoKitties and EtherTanks, we now have a new browser-based game called EtherRacing. All three concepts are virtually the same, although the gamification element is certainly a nice touch. Whether or not people will keep investing in projects like these remains to be determined, though. After all, people will quickly lose interest as more of these “opportunities” arise. EtherRacing Sells Virtual Racing Cars for Ether People who are familiar with the concept of CryptoKitties will immediately understand how EtherRacing works. The concept is very similar, as interested parties can purchasePowered by WPeMatico
India’s Ministry of Finance Compares Bitcoin and Cryptocurrencies to ‘Ponzi Schemes’
In a statement issued by the ministry on Dec. 29, 2017, the finance agency reiterated that there is a real and heightened risk of an investment bubble in the cryptocurrency market that is similar to Ponzi schemes.
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India’s Crypto Crackdown: Wealthy Bitcoiners Targeted, Start-Ups Scrutinized
It has been a busy week for the government of India concerning cryptocurrencies. After it raided crypto exchanges, it is now actively investigating wealthy bitcoiners through the Income Tax Department of India (ITDI). In addition to roustings and investigations, the Securities and Exchange Board of India (SEBI) announced new scrutiny initiatives regarding initial coin offerings […]
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