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Investors File Class Action Lawsuit Before the National Court of Spain Over an Alleged $298M Crypto Scam
15.4.2021
A group of Spaniards filed the first crypto-related class-action lawsuit before the National Court of Spain on an alleged million-dollar scam. The lawsuit targets an individual accused of allegedly scammed over 300 small crypto investors across Spain. Money Stolen Could Amount Up to $3.58 Billion...
South African Regulator Zeroes in on Scams and Unregulated Firms in Its Second Crypto ‘Health Warning’
29.3.2021
South African regulator the Financial Sector Conduct Authority recently issued its second crypto “health warning” after it noticed increased reports of crypto-related losses suffered “in the past three months.” In the warning, the regulator reminds investors that since...
Florida man escapes paying a $4.5M SEC penalty over a crypto Ponzi scheme
25.3.2021
The founder of the Argyle Coin Ponzi scheme has escaped paying a $4.5 million penalty to the SEC for operating a “web of fraudulent companies.”
Is Bitcoin a Ponzi scheme? Pick your side in the latest Cointelegraph Crypto Duel!
5.3.2021
Kraken Bitcoin strategist Pierre Rochard debates professor of computer science Jorge Stolfi on whether Bitcoin meets the definition of a Ponzi scheme
Argentinean Prosecutor Investigates an Alleged Bitcoin Scam Ganancias Deportivas
16.2.2021
In Mendoza, Argentina, law enforcement launched an investigation against a sports-related investment site for presumably being a bitcoin scam. Among the inquiries, authorities are investigating if they’re involved in money laundering and tax evasion. Platform Claims to Invest Customer’s...
Crypto Fund Manager Charged in $5M Ponzi Scheme, Facing up to 30 Years in US Prison
30.1.2021
A cryptocurrency fund manager has been charged in a U.S. federal court. He allegedly took over $5 million from investors interested in investing in his crypto funds, promising them high returns. In reality, he was running a Ponzi scheme and is now facing up to 30 years in prison. Crypto Fund...
Scams are driving South African authorities to regulate crypto trading
27.1.2021
The Financial Sector Conduct Authority is demanding tighter regulatory control over cryptocurrency
Update: "Coin Signals" trader also faces charges from the CFTC
26.1.2021
Arrested by the FBI earlier today, the 24-year-old Spence also faces civil charges of fraud that look to bar him from future trading
FBI arrests 24-year-old crypto trader for commodities and wire fraud
26.1.2021
The trader was both lying to investors and using an unregistered derivatives strategy on BitMex
MTI Bitcoins Sent to Privacy Mixers as New Data Breach Exposes the Ponzi Scheme’s Top Earners
10.1.2021
In another twist to the Mirror Trading International (MTI) bitcoin Ponzi scam, the blockchain intelligence firm Whitestream says bitcoins from wallets associated with the company are being sent to Wasabi privacy mixers. According to Whitestream’s update, this pivot to mixers suggests that...
Spanish Police Detain Four People Allegedly Involved in a $15M Crypto Ponzi Scheme
9.1.2021
The Spanish police detained four people of different nationalities this week for allegedly running a $15 million crypto Ponzi scheme. According to the police, “many victims” filed a complaint against them. Victims Believed Their Bitcoins Went to a Legit Company According to Policia...
Chilean Court Orders Two Major Banks to Keep Open Checking Accounts of Crypto Exchange Buda
5.1.2021
Chile’s Free Competition Defense Court (TDLC) ruled in favor of the Latin American cryptocurrency exchange Bud after their checking accounts were closed by two major banks in the midst of a lawsuit related to a Ponzi scheme unrelated to the exchange. Chilean Court Rejected Petitions From...
CEO of MTI Bitcoin Ponzi Scheme Flees South Africa in Possible Exit Scam – Funds Blocked
24.12.2020
In an unexpected turn of events, the management team at Mirror Trading International (MTI) now suggest that their CEO Johann Steynberg may have exit scammed. The team alleges that Steynberg, now believed to be in Brazil, has locked out key management staff from accessing MTI’s account with...
Lawyer Who Represents Victims of Alleged Spanish Crypto Ponzi Says It Could Be the ‘Biggest One’ in the Country
16.12.2020
The Arbistar case victims’ defense lawyer claims that the overall number of those affected amounts to 32,000 families with at least 93.4 million euros ($113.55 million) in losses. Lawyer in Arbistar Case Reveals Details on Class-Actions Lawsuits Against the Alleged Crypto Ponzi Scheme During...
8 People Arrested in Argentina Linked to Onecoin Ponzi Scam
13.12.2020
The Public Prosecutor’s Office of the Argentine city of Córdoba has indicted 12 people in connection with the Onecoin Ponzi scheme. Eight of them have been arrested. Onecoin Scammers Arrested The Public Prosecutor’s Office for Complex Crimes of the Argentine city of Córdoba...
Man Jailed for Role in $25 Million Ponzi Scheme Involving a Failed Crypto
10.12.2020
A South Florida federal district judge has sentenced Jose Angel Aman to 84 months in prison for his role in perpetrating a $25 million diamond Ponzi scheme. In addition, the judge ordered Aman to pay over $23 million in restitution to victims who invested in his diamond cutting business and...
Man Gets 6 Years for $25M Diamond and Crypto Ponzi Scheme
9.12.2020
Jose Angel Aman, charged with operating the fraudulent investment scheme, was sentenced to serve six years in federal prison and pay over $23 million in victim restitution by a federal court in Florida
Accused Ponzi scheme is now fighting the SEC in addition to former investors
8.12.2020
The SEC subpoenas the former owner's bank accounts to find out what happened to investments into Crypto Traders Management
Mastermind of Bitcoin Mining Ponzi Scheme Extradited to the US: $20 Million in Victims’ Funds Laundered
1.12.2020
The US government says it has extradited Gutemberg Dos Santos, the co-founder of the Airbit Club Ponzi scheme from Panama and he now awaits his trial in a Manhattan court. Dos Santos is facing charges relating to his role in perpetuating a “cryptocurrency” scam which defrauded victims...
US Justice Department Extradites Alleged Co-Founder of Crypto Ponzi Scheme From Panama
30.11.2020
The accused, Gutemberg Dos Santos, has been charged in an indictment and was extradited from Panama on Nov. 25