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WSJ Finds Fraud, Plagiarism in Hundreds of Crypto White Papers

WSJ Finds Fraud, Plagiarism in Hundreds of Crypto Whitepapers

The Wall Street Journal (WSJ) published research findings on Thursday, 27 December, showing that hundreds of cryptocurrency white papers appear to contain fraud, plagiarism, or offer improbable returns. Looking at the white papers for 3,291 cryptocurrency projects that announced initial coin offerings (ICOs), analysis from WSJ showed signs of “duplicate language” with almost 10,000 sentences appearing more than once in the papers. …


Italian Regulator Suspends Suspicious Crypto-Related Ventures

Italian Regulator Suspends Suspicious Crypto-Related Ventures

In a newsletter published today by the Commissione Nazionale per le Società e la Borsa (CONSOB), the securities market regulator in Italy has issued a cease and desist order to two cryptocurrency-related platforms. As the chief regulator of the Italian securities market, CONSOB has deemed it fit to suspend the activities of Bitsurge Token and Green Energy Certificates for 90 …


Researchers Develop Algorithm to Predict Pump and Dump Schemes

Researchers Develop Algorithm to Predict Pump and Dump Schemes

Researchers from Imperial College London have developed an algorithm which they say can be used to predict cryptocurrency “pump and dump” schemes, something that allegedly contributes to USD 7 million worth of trading every month. Pump and dump is a form of insider trading that has become increasingly commonplace since the rise of tokens in the cryptocurrency industry. It begins with …


Malta Halts Operation of Unlicensed Crypto Exchange

Malta Halts the Operation of an Unlicensed Cryptocurrency Exchange Possibly a Scam

Malta Financial Service Authority (MFSA) has issued a cease and desist order yesterday to SolutionsCM Ltd, an unlicensed cryptocurrency exchange serving its populace. The order as displayed on the regulator’s website specifically addressed the infringement of art. 18 of the Italian Legislative Decree No. 58/1998 which the company was found in violation of. OriginalCrypto operated by SolutionsCM Ltd is purported …


Brooklyn Con Artist Maksim Zaslavskiy Faces 5 Years in Slammer for Fake ICOs

Brooklyn Con Artist Maksim Zaslaskiy Faces 5 Years in Slammer for Fake ICOs

Brooklyn, New York con artist Maksim Zaslavskiy has pled guilty to conspiracy to commit securities fraud after collecting funds for two fake initial coin offerings (ICOs), REcoin and Diamond Reserve Club. Some 1,000 investors were tricked and a civil case for the monetary losses will be adjudicated once sentencing for the criminal case is complete. He faces five years in …


Liqui.io Accused of Delisting Popular Tokens to Scam Customers

Liqui.io Exchange Accused Of Delisting Popular Tokens To Scam Customers

Liqui.io, a cryptocurrency exchange based in Ukraine, has been accused of defrauding customers by delisting tokens, sometimes its top volume tokens like BAT and giving only 15 days to withdraw funds before seizing them. For example, in its delisting announcements, Liqui.io states: “Once the withdrawal deadline has been reached withdrawals will be disabled and the asset will be fully decommissioned. From …


Thai SEC Issues Warning on Q Exchange

Thai's SEC Issues Warning About Q Exchange

Thailand’s Security and Exchange Commission (SEC) has issued a warning to residents about Q Exchange stating that it is not “a licensed digital asset operator”. The SEC had said that Q Exchange offered electronic money advisory and cryptocurrency trading, through print media outlet and also by using social media and other forms of online media to facilitate publicity of their …


SEC Slaps ICO Scammer with $30,000 Fine

SEC Slaps ICO Scammer with $30,000 Fine

David T Laurance has been issued a USD 30,000 penalty from the US Securities and Exchange Commission (SEC) due to his connection with a fraudulent initial coin offering (ICO). He has also been barred from holding officer and director positions, or from trading in and owning penny stocks. Laurance was the president and CEO of oil drilling company Tomahawk Exploration LLC, …


Vietnamese Crypto Mining Farm Found Abandoned, Investors Missing $35M

Vietnamese Crypto Mining Farm Found Abandoned, Investors Missing $35M

The CEO of Vietnam-based cryptocurrency mining farm Sky Mining has reportedly absconded, leaving investors USD 35 million short. Investors found an abandoned premises The Sky Mining business structure offered people the chance to buy shares in the cryptocurrency mining hardware and collect a percentage of the profits. It advertised these profits at 300% in one year for a one-time payment between USD 100 …


Bitcoin Stock Exchange Founder Pleads Guilty in US Court

Bitcoin Stock Exchange Founder Pleads Guilty in US Court

Founder of no longer operational Bitcoin stock exchange BitFunder pleaded guilty to federal charges before US Magistrate Judge James Cott in Manhattan on counts of obstruction of justice and securities fraud, according to prosecutors on Tuesday. 37-year-old Jon Montroll admitted in the courtroom he had given the US Securities and Exchange Commission (SEC) fallacious bank records during the 2013 investigation regarding the BTC 6,000 …


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