scam

How to Get Your Money Back After a Scam?

We live in an era where carrying and paying with cash is becoming obsolete. Electronic payments are favoured by many businesses and countries. On one side, they provide a fast payment method and governments love them because they can keep track of the products that are being bought and make sure that the businesses pay...
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Economist Brands Bitcoin a “Scam” On Mainstream Media

While Bitcoin is now over 11 years old, the cryptocurrency is seemingly still subject to accusations by many mainstream economists and investors that it is a “scam.” This was proven recently when an economist bashed the leading digital asset on Yahoo Finance. If you’ve been following Bitcoin’s news cycle at all over the past few...
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Chinese Police Seize Thousands of Miners, Arrest Dozens of Scammers

In the last couple of days, Chinese media have reported on police forces in one province of the vast Asian country seizing close to 7,000 mining rigs using stolen electricity and in another province arresting 72 multi-level marketing scheme operators for alleged fraud. Also Read: Chinese Regulators Question 8 Crypto Companies in Shenzhen Police Seize...
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Hawaiian Woman Invests 401K Into Crypto Mining Ponzi Scheme, Hit With Restraining Order

A woman based in the United States island-state of Hawaii has lost nearly half of her entire life savings, in a crypto mining-related Ponzi scheme.The post appeared first on NewsBTC
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Why This Developer of the Controversial HEX Cryptocurrency – Accused of Scam – Left

The cryptocurrency market is has a wild west atmosphere, rife with hackers, cybercriminals, and scammers galore.The post appeared first on NewsBTC
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Former Bitmain Chip Maker in Police Custody for Alleged Embezzlement

Former Bitmain Technologies chip maker and founder of Bitmain rival MicroBT, Yang Zuoxing, has been reportedly arrested by the Shenzhen police. Yang’s arrest comes amid the ongoing battle between MicroBot and Bitmain, along with the latter’s leadership crisis. On the other hand, another major bitcoin chip manufacturer, Canaan is also not having the best of...
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Investigator Claims HitBTC Is The ‘Largest Scale Fraudulent Entity’

The dominant terrorist organization ISIS starts using a new blockchain-based messaging app to communicate, after its ban from the major messaging app Telegram. The blockchain technology will be used by the app to anonymously spread videos and propaganda to thousands of people worldwide.As a Vice report from December 13 in the blockchain news shows, experts...
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HitBTC Is “Longest-Running” Fraud, Investigator Claims

Richard Sanders, a lead investigator at CipherBlade, claims that HitBTC is the “longest-running and potentially largest scale criminally fraudulent entity” in the crypto space. HitBTC Might Be Insolvent, Sanders Says While HitBTC markets itself as one of the leading crypto exchanges out there, Sanders alleges that the firm is insolvent. In a recent Medium post,...
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Plustoken Cash-Outs Could Be Behind BTC Price Drop, Says Report

On Monday, the blockchain surveillance company Chainalysis published an excerpt from the firm’s upcoming crime report that will publish in January. According to the Chainalysis research, the Ponzi scheme called Plustoken not only defrauded investors out of $3 billion but the scam “may also be driving down the price of bitcoin.” Also read: Mystery Surrounds...
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Quadrigacx Founder Dead or Alive? Request for Exhumation and Autopsy Filed

The founder of now-defunct crypto exchange Quadrigacx may still be alive, even though he supposedly died in India about a year ago. A court-appointed law firm is seeking an answer on behalf of affected users. The firm has requested an exhumation and post-mortem autopsy in Canada of the body of Gerald Cotten, as some 76,000...
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Could Bitcoin Price Press Higher as PlusToken Liquidations Slow?

Over the past few months, the crypto industry has been awash with news about the PlusToken Bitcoin scam, which allowed scammers to accrue billions worth of digital assets over the course of a year-long operation.For some context, PlusToken was a cryptocurrency “wallet” and storage solution that gave users returns on their deposits and also gave...
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Prolific Crypto Ponzi Scheme in Uganda Vanishes Overnight

In the cryptocurrency world, there are plenty of people with bad intentions. Most individuals simply want to make money quickly and will go to any length to do just that. It is evident that the number of scams in this industry will not necessarily diminish any time soon. Ugandan Crypto Scam Comes to an End...
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Cryptocurrency Scams a Massive Problem: 3 Men Charged for $722M Scheme

While cryptocurrencies are but a small drop in the pond of global finance, authorities have only increased their scrutiny of this nascent industry over the past couple of months. Case in point, U.S. authorities on Tuesday revealed that they have charged three men for their involvement in a $722 million cryptocurrency fraud that amounted to a...
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This Cryptocurrency is Causing Controversy as Community Calls it a Scam

Cryptocurrency traders and investors are constantly looking out for the next big thing. One thing learned from the 2017 pump is that FOMO can spread like wildfire and a crypto asset can surge for practically no reason. HEX is getting a lot of attention at the moment but all may not be what it seems.Cryptocurrency...
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US Marshals Warn of Resurgence of Bitcoin ATM Fraud

The US Marshals Service and FBI have updated an earlier warning against scammers impersonating law enforcement officers. The agencies say those behind the scams accuse a potential victim of a crime and demand payment via a Bitcoin ATM or another somewhat obscure payment method.It’s unclear how effective such scams are. The requested payment method should...
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Onecoin Websites Suspended as the $4 Billion Ponzi Crumbles

The MLM monitoring publication behindmlm.com revealed on Dec. 1 that the infamous Ponzi scheme Onecoin’s website onecoin.eu has gone offline. According to the domain host Eurid, the onecoin.eu domain name is currently “under legal investigation.” Onecoin’s website going offline follows the recent arrest of the operation’s cofounder Konstantin Ignatov. Also read: Part Deux! Onecoin Buyer...
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All of the European OneCoin Domains go Dark Without Explanation

There is yet another development in the ongoing OneCoin saga. It now appears the main website has been taken offline, although it remains unclear how long the situation will last. The OneCoin Ponzi Scheme has made thousands of headlines over the years. The end is Nigh for OneCoin in Europe To date, it is still...
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China-Based IDAX CEO Goes “Missing,” Withdrawals Halted

In something seemingly out of a movie, the chief executive of IDAX, a lesser-known cryptocurrency trading platform purportedly in Shanghai, has disappeared off the face of the Earth. The exchange has since been in damage-control mode, trying to pick up the pieces of their crumbling platform. Crypto CEO Disappears; Users Angry On November 24th, IDAX...
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Ethereum: “I Don’t Think It’s a Scam,” Says Analyst in Interview

The second-largest cryptocurrency Ethereum has been under increased scrutiny as of late, with some asserting that the coin is a scam that hasn’t lived up to its potential.The post appeared first on NewsBTC
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BREAKING: George Bush’s Son Received $300K From OneCoin Scammer

Neil Bush, son of former US President George H. W. Bush, was paid $300,000 by Ruja Ignatova for attending a meeting related to her fraudulent cryptocurrency known as OneCoin, according to law360, citing a failed subpoena bid. Former Locke Lord Attorney Misled by Bush’s Connection with OneCoin Mark Scott, a former attorney at international firm...
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Cryptocurrency SIM Swapping Scammers Charged by US Department of Justice

Two individuals were charged yesterday for their suspected involvement in a two-year cryptocurrency SIM swapping scam. The suspects are believed to have taken control of telephone numbers and attempted to gain access to various online accounts to steal digital currency from victims.The pair were arrested last Thursday. They face charges of wire fraud, computer fraud and...
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OneCoin $4 Billion Ponzi Scheme: Founder’s Brother Eyes 90 Years in Jail

The cryptocurrency ecosystem is no stranger to scams and pyramid schemes. Exciting new technology, coupled with dramatically rising prices a few years ago, helped lure people into get-rich-quick schemes that only served to part them from their hard-earned money. One of the biggest cryptocurrency scams is OneCoin, which managed to take in almost US$4 billion....
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BitMEX Crypto Traders Targeted by Phishing Scams: What the Attacks Look Like

BitMEX traders that had their details leaked as part of a recent privacy breach have started to receive phishing emails. The crypto exchange accidentally disclosed 23,000 of its users’ email addresses earlier this month.A Reddit user disclosed some details about a phishing effort against them in the wake of the leak. An email apparently from...
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Cryptocurrency Scammers Utilize Tinder to Play the Long Con Game

Cryptocurrency enthusiasts are often targeted by scammers. One of the most recent experiments to steal Bitcoin from users comes in the form of using Tinder. Over the past few years, Tinder has become one of the most popular online dating platforms in the world. Albeit it doesn’t always get the best reviews, it is still...
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OneCoin Lawyer Stands Trial for Role in Multi-Billion Dollar Crypto Scam

A lawyer who is believed to have laundered money associated with the OneCoin crypto scam is currently standing trial in New York. Mark Scott allegedly used offshore investment vehicles to take as much as $400 million out of the US on behalf of the company.OneCoin is one of the largest examples of a cryptocurrency scam...
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Trial of Former OneCoin Lawyer Kicks Off In New York

The trial of an American lawyer accused of laundering money for the notorious OneCoin pyramid scheme, began in New York yesterday. The lawyer is the first of three key players in the scam to face trial. However the founder, self-styled Crypto-Queen, Ruja Ignatova, is still on the run. Defendant Denies Any Wrongdoing The lawyer, Mark Scott,...
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Bittrex Now Also a Target of a 100 Bitcoin (BTC) SIM Hack Lawsuit

Digital asset exchange Bittrex is reportedly being sued over a SIM swap-related incident that allowed hackers to steal 100 Bitcoin (BTC), which are valued at around $1 million at current market prices. The case appears to be quite similar to other recent incidents in which a bad actor gains control of a user’s cell phone...
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Satoshi ‘Nakamolto’ Emerges With Great Hair and Questionable Claims

A viral video taken at a Las Vegas event has put self-claimed “Bitcoin co-founder” Jörg Molt in the spotlight this past week. A Twitter user in the space known for hair trigger accusations calls Molt a scammer in the video, and Molt proceeds to knock off the guy’s baseball cap. Amusing as the sophomoric dumpster...
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Fake Ripple Livestreams on YouTube net Criminals Plenty of XRP

Cryptocurrency scammers are exploring new ventures. For some, the focus has seemingly shifted to YouTube. This new method of attack has proven to be rather lucrative so far. A lot of harm can be done by creating fake video content. Whereas the recent Litecoin YouTube scam got some attention, it appears this is not the...
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Another Major AT&T SIM Swapping Heist Targeting Several Crypto Entrepreneurs

A crypto entrepreneur has filed a lawsuit against giant telecommunications firm AT&T over an alleged SIM swapping hack which reportedly led to the loss of  $1.7 million in digital currency, in an attack targeting three blockchain professionals who attended Consensus 2018 Seth Shapiro, a two-time Emmy Award-winner, author and professor at the University of Southern...
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