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NYPD Warns of Phone Scammers Requesting Bitcoin, $2 Million Stolen in 2019

NYPD Warns of Phone Scammers Requesting Bitcoin, $2 Million Stolen in 2019

The New York Police Department (NYPD) has issued a public warning alerting them of telephone scams whereby people are impersonating public figures from the government, and demanding payment in Bitcoin and other currencies. In general, the scammers pretend to be officials from the Social Security Administration or other law enforcement agencies. They then present their victims with threats to pay …


Australian Crypto Scams in 2018 Totaled $4.3 Million

Australian Crypto Scams Reported in 2018 Totaled $4.3 Million

Australia has become well known for its big push towards endorsing both blockchain and cryptocurrency use, but like anywhere the country is prone to scams as recent figures just released have revealed, with over USD 4 million dollars lost to cryptocurrency scams in 2018. However, it appears that the AUD 6.1 million lost to cryptocurrency scams last year was just …


White Paper Confers No Legal Responsibility, says Sirin Labs CEO

White Paper Confers No Legal Responsibility, says Sirin Labs CEO

In response to a lawsuit, Israeli crypto entrepreneur Moshe Hogeg has denied allegations of misappropriating investor funds, insisting that white paper claims are not legally binding. In addition to being the CEO of Sirin Labs, Hogeg was behind the blockchain firm known as Stox (STX) on which the case is based. The news was reported by the Times of Israel on …


Fake Bakkt Emails Circulate, Claiming Profits for Investors

Fake Bakkt Emails Circulate, Claiming Profits for Investors

There are reports of email being received from what claims to be Bitcoin futures trading platform Bakkt. The emails, bearing the subject line “Bakkt News!” and purporting that the platform will launch on 12 March 12, at first sight seem convincing. First of all, the email is sent, not from an official Bakkt account, but from a Gmail one. Secondly, …


LocalBitcoins Averts Phishing Scam, Resumes Regular Activity

LocalBitcoins Averts Phishing Scam, Resumes Regular Activity (1)

Outgoing transactions on peer-to-peer Bitcoin exchange LocalBitcoins resumed on 27 January following the shutdown of a phishing scam that exploited a weakness on the platform’s official forum. A community manager from the exchange first warned of the phishing site on Reddit on 26 January, notifying users to be aware when visiting the forum if their computers requested them to log in …


Malta Warns Traders About Global “Bitcoin Revolution” Scam

Malta Warns Traders About Global “Bitcoin Revolution” Scam

The Malta Financial Services Authority (MFSA) warned of a global scam called “Bitcoin Revolution” which is currently being advertised on social media platforms. The scheme had been in circulation since 10 January and used images of local celebrities maintaining that they have become wealthy through prescribed crypto investments found on the-bitcoinrevolution.org site and others. The MFSA has confirmed that Bitcoin …


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 …


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