Search
Claims Against Collapsed South African Bitcoin Investment Firm Rise to $84.5 Million
7.6.2024
Claims against Mirror Trading International (MTI) have reached over $84.5 million (ZAR1.6 billion), with more than 8,000 proven creditors as of the end of April. The MTI estate still holds around $33.7 million in its accounts. Legal action is underway in multiple countries to recover withdrawals...
NY Attorney General sues crypto trader NovaTech, claims $1B fraud
6.6.2024
Two people took in $1 billion in crypto deposits and traded $26 million of it, the suit alleges
Top promoter in Forcount ‘Ponzi’ pleads guilty to wire fraud conspiracy
6.6.2024
Part of the plea deal involved Juan Tacuri forfeiting nearly $4 million and real estate which were purchased with victim funds
Binance to release 15K USDT for new users of “Buy Crypto” scheme
5.6.2024
Binance intends to disseminate 15,000 USDT in the form of token vouchers to the new wave of users who are purchasing crypto and making fiat deposits through their “Buy Crypto” program. Incidentally, Binance is an internationally renowned cryptocurrency exchange. For the exchange, this...
US Media Executive Charged in $67 Million Fiat-to-Crypto Money Laundering Scheme
4.6.2024
The U.S. DOJ has charged the CFO of a media company with one count of money laundering and two counts of bank fraud for participating in a scheme that laundered criminal proceeds using cryptocurrency. Authorities allege that Weidong Guan and his accomplices used bank accounts opened with stolen...
Epoch Times CFO Charged With $67M Fraud Scheme Involving Crypto Platform
4.6.2024
The crime proceeds were generally purchased by the scheme participants at discounted rates of up to 80 cents per dollar in exchange for an unspecified cryptocurrency
Liquidators of South African BTC Scam Allocate Nearly 40% of Recovered Funds to Legal Fees and Taxes
4.6.2024
Out of the approximately $60 million (ZAR1.1 billion) that was recovered to pay back victims of the collapsed bitcoin investment platform Mirror Trading International (MTI), only $34.3 million remains. Court documents reportedly state that liquidators have used the recovered funds to pay...
Ex-Banker Sentenced to 41 Months in US Prison for Crypto Fraud Scheme
2.6.2024
Rashawn Russell, a former investment banker, was sentenced on Thursday to 41 months in prison for a cryptocurrency fraud scheme that caused $1.5 million in investor losses. From November 2020 to August 2022, Russell deceived multiple victims by promising high returns from cryptocurrency...
Report Shows No Evidence of Special Treatment for BTC Ponzi Scheme Mastermind in Brazilian Jail
1.6.2024
The Brazilian State Attorney General has dismissed allegations that Johann Steynberg, the late mastermind of a South African bitcoin ponzi scheme, was granted irregular access to a computer and the internet while in prison. Acting public prosecutor Lauro Machado Nogueira recently released a report...
Turkey Detains 127 Crypto Ponzi Scheme Co-Conspirators, Seizes Assets Worth Over $31 Million
1.6.2024
According to Turkish authorities, the country’s law enforcement agencies have disrupted a criminal syndicate that lured unsuspecting residents into investing in a Ponzi scheme disguised as a cryptocurrency investment. The syndicate is reported to have swindled $1 billion from investors who were...
Estonian Nationals Extradited to US for $575M Crypto Fraud
1.6.2024
Two Estonian nationals have been extradited from Estonia to the U.S. to face charges for their roles in “a massive multi-faceted cryptocurrency Ponzi scheme,” according to an announcement by the U.S. Department of Justice (DOJ). Sergei Potapenko and Ivan Turõgin are accused of operating...
Lawyer Pleads Guilty in $9.5M Crypto Ponzi Scheme — Faces 5 Years in Prison
31.5.2024
David Kagel, a disbarred California attorney, pleaded guilty to orchestrating a cryptocurrency Ponzi scheme that defrauded victims of over $9.5 million. Kagel, 85, promised high returns through artificial intelligence trading bots and falsely claimed to hold $11 million in bitcoin to secure...
Former banker sentenced to 41 months for crypto fraud
30.5.2024
Rashawn Russell, a former Deutsche Bank executive, also intended to commit fraud with stolen bank cards
Texas Issues Emergency Cease and Desist Against Arkbit’s Crypto Operations
30.5.2024
The Texas State Securities Board has issued an Emergency Cease and Desist Order against Arkbit Capital and its affiliates, Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining. These companies were found operating a fraudulent MLM cryptocurrency investment scheme. Promising daily returns...
Hospitality worker jailed for $2.5B Bitcoin laundering scheme
29.5.2024
The authority’s suspicion was based on Wen's change in lifestyle. In 2017, she reportedly moved to a six-bedroom mansion in North London
Arkbit crypto mining MLM fraud busted by Texas regulators
29.5.2024
Arkbit falsely claimed to operate Arkansas-based data centers for cloud mining various cryptocurrencies
US Jury Convicts Two in $8M Crypto-Linked Dark Web Drug Scheme
29.5.2024
A federal jury in Salt Lake City convicted Oluwole Adegboruwa and Enrique Isong, foreign nationals, of multiple drug-related charges. From 2016 to 2019, they generated over $8 million in cryptocurrency, including bitcoin and ethereum. Adegboruwa operated under the names “King Odua”...
Investigation Links Memecoin Team to Hack of Crypto Influencer’s Account- ZachXBT
27.5.2024
A recent investigation has implicated the creators of a new memecoin in hacking a crypto influencer's account, exposing a complex scheme to manipulate cryptocurrency prices.
The post Investigation Links Memecoin Team to Hack of Crypto Influencer’s Account- ZachXBT appeared first on Cryptonews
Ex-Kansas Bank CEO Pleads Guilty to Embezzling $47M in Crypto Scheme
24.5.2024
Now-failed Heartland Tri-State Bank CEO Shan Hanes squandered millions in cryptocurrency, leading to the bank’s failure in July 2023.
The post Ex-Kansas Bank CEO Pleads Guilty to Embezzling $47M in Crypto Scheme appeared first on Cryptonews
South African Prosecutors Set to Pursue Collapsed Pyramid Scheme Co-Conspirators
23.5.2024
South African prosecutors are reportedly investigating co-conspirators of Mirror Trading International and may charge them with fraud or forgery. The declaration of the scheme as unlawful may have strengthened the National Prosecuting Authority’s case against the masterminds of Mirror Trading...