Fraud

Fraud

Crypto.com to Refund Clients as Wirecard’s Card Issuer Told to Cease Operations

Card issuer Crypto.com is refunding 100% of customer balances after the U.K. regulator ordered Wirecard Card solutions to cease operations.

News  ·  26 June 2020
Scams

How to Spot a Crypto Scam

Another scammer is impersonating the CoinDesk website and offering impossible investment returns. We did some digging.

Markets  ·  24 June 2020
Fraud

Alleged Shopin ICO Fraudster Pays $450K Fine in Ether

Eran Eyal, who raised $42 million in an allegedly fraudulent initial coin offering, settled charges with the SEC and paid a $450,000 fine in ether.

News  ·  23 June 2020
SEC

SEC Claims Brothers Lied About Digital Asset Fund Performance, Used Profits for Personal Use

The U.S. Securities and Exchange Commission moved Friday to halt an allegedly fraudulent digital asset investment fund run by two Pennsylvania brothers.

News  ·  19 June 2020
Fraud

Centra Tech Co-Founder Pleads Guilty to Fraud After $25M Token Sale

A co-founder of the celebrity-backed Centra Tech crypto scam has pleaded guilty to his role in the $25 million fraudulent ICO.

News  ·  16 June 2020
Exchanges

Crypto Exchange Owner Admits Laundering $1.8M in Online Auctions Fraud

The owner of Romanian crypto exchange CoinFlux has admitted to laundering money in a fraudulent scheme involving fake eBay ads and a car wash.

News  ·  12 June 2020
Crime

Crypto Criminals Have Already Stolen $1.4B in 2020, Says CipherTrace

The figure puts 2020 on track to become the second-costliest year in the history of crypto.

Policy & regulation  ·  2 June 2020
Blockchain

Blockchain ID Solution Aims to Tackle Spike in Delivery Fraud Amid Coronavirus Measures

Nuggets, a digital identity and payments platform, has developed a way to accept deliveries without needing a physical signature to combat a spike in fraud during the coronavirus pandemic.

Tech  ·  29 May 2020
CFTC

CFTC Claims ‘Massive Fraudulent’ Scheme Defrauded Investors of $20M

The CFTC alleged three individuals and affiliated entities defrauded crypto and binary options investors out of $20 million over 5 years.

News  ·  7 May 2020
ICOs

SEC Sues Dropil Founders for Fraud After $1.8M Token Sale

The SEC has charged three California residents with defrauding investors of $1.8 million through an unregistered token sale.

News  ·  24 April 2020
CFTC

CFTC Charges Florida Resident With Defrauding Crypto Investors Out of $1.6M

The CFTC alleged Florida resident Alan Friedland defrauded investors out of $1.6 million, promising returns through his “Compcoin” token and an algorithmic trading software which never materialized.

News  ·  16 April 2020
COVID-19

US State Regulators Order ‘Fraudulent’ Crypto Mining Scheme to Shut Down

The Texas State Securities Board and Alabama Securities Commission filed an emergency action against Ultra Mining, alleging it offered unregistered securities by promising to double investments in a cloud mining scheme.

News  ·  8 April 2020
Lawsuits

Victims Accuse Wells Fargo Subsidiary of Turning Blind Eye to $35M Crypto Ponzi

Plaintiffs claim Wells Fargo Advisors did not check on the activities of a financial advisor accused of defrauding 150 investors.

Policy & regulation  ·  6 April 2020
Cryptocurrency

SEC Charges 2 With Fraudulent Water-Backed Token Sale

The SEC charged a former Texas pastor and his wife for allegedly defrauding hundreds of investors through an alkaline water-backed cryptocurrency TeshuaCoin.

News  ·  3 April 2020
ICOs

SEC Charges Former State Senator Over Digital Asset ‘Scam’

The SEC alleges the Meta 1 Coin sale violated antifraud and securities regulation. It also promised some crazy returns.

Policy & regulation  ·  23 March 2020