Search
South African Regulators Reportedly Fast-Tracking Crypto Regulatory Framework
1.7.2021
With South Africa receiving more than its fair share of cryptocurrency-related scams, a report suggests that regulators are responding to this challenge by fast-tracking the process of creating a new regulatory framework. As a result, regulators now expect this process, which was preceded “by...
There Are Now Twice as Many 2021 ‘Bitcoin Deaths’ Compared to 2020’s BTC Obituaries List
30.6.2021
Bitcoin is down in value 45% since the crypto asset’s all-time high (ATH) three months ago and the downward movement has ignited significant speculation about another bear market. Other skeptics believe that bitcoin has died, as the web page that hosts bitcoin obituaries indicates 2021...
South African asset manager denies stealing billions from users, claims $5M was lost in hack
29.6.2021
AfriCrypt’s founders deny running off with billions in customers funds, asserting they went into hiding after receiving death threats from “dangerous people.”
Europol Cracks Down on Vitae Belgian Ponzi Scheme, Recovers €1.5 Million in Crypto
28.6.2021
Europol, the EU law agency, cracked down on Vitae, a Belgian Ponzi scheme. Europol raided 17 locations related to the website, promoted as a social media site with its own cryptocurrency. The company operated in Switzerland under the name VITAE AG. Law enforcement officials recovered €1.1...
Africrypt Directors Deny Allegations They Fleeced Clients as Doubts Over Actual Value Missing Bitcoins Grows
27.6.2021
According to new reports, Raees and Ameer Cajee, the two young directors of the recently collapsed crypto investment firm, Africrypt, have “categorically denied” allegations they fleeced clients. Instead, the brothers insist their company is the victim of a hack while also claiming that...
Africrypt Ponzi Scheme Collapse: South Africa Regulator Says Its ‘Not in a Position to Take Any Regulatory Action’
25.6.2021
Following Africrypt’s collapse, South African regulator, the Financial Sector Conduct Authority (FSCA), released a statement asserting its lack of jurisdiction over cryptocurrencies. Although the regulator says it is “continuing to investigate complaints” against the crypto...
$3.6B in Bitcoin vanishes in 'hack' along with owners of South African crypto platform
24.6.2021
Billions worth of Bitcoin has reportedly vanished along with the operators of South African crypto firm AfriCrypt. Is it a scam or a hack?
With regulators handing out $2.5B in fines since 2014, crypto is not the 'wild west' of finance
22.6.2021
A new report from Elliptic has found that unregistered securities offerings account for more than half of all crypto-related fines handed out by U.S. regulators
Minneapolis Fed President Neel Kashkari calls DOGE a ponzi
20.6.2021
The central banker previously referred to cryptocurrencies as a “giant garbage dumpster.”
Co-Owner of Mirror Trading International Opposes Plans to Liquidate the Bitcoin Scam Outfit
18.6.2021
In the latest twist to the Mirror Trading International liquidation saga, Clynton Marks, a co-owner of the bitcoin Ponzi outfit, has opposed attempts to have a court grant a final liquidation order. Marks, who reportedly owned 50% of MTI, argues that the liquidation application...
Alleged $3.6B crypto Ponzi's 'victims' still believe the exchange is legit
10.6.2021
Some of those caught up in an alleged $3.6 billion crypto Ponzi scheme are refusing to aid police investigations as they still expect to triple their investments
South African Court Submissions Expose Lies and Deceptive Tactics Used to Perpetuate MTI Bitcoin Ponzi Scheme
10.6.2021
New submissions by a South African regulator, the Financial Sector Conduct Authority (FSCA) and liquidators have exposed the web of lies and deceptive tactics that were used by Mirror Trading International (MTI) CEO Johann Steynberg and others to perpetuate the Ponzi scheme. Undeclared Losses...
Cryptocurrency Related Scams Flood Tribunals in Spain
1.6.2021
Spain has not been a stranger to the popularity of cryptocurrencies, and with this popularity, also comes the attention of people and organizations wanting to capitalize on the subject. Spanish tribunals have been flooded lately with lawsuits involving cryptocurrency scams related to bitcoin...
Fleeing Lynchpin of Nigerian Crypto Ponzi Scheme Inksnation Captured
29.5.2021
The lynchpin of Inksnation, one of Nigeria’s biggest crypto Ponzi Schemes, Omotade-Sparks Amos Sewanu, has been captured. According to Nigeria’s Economic and Financial Crime Commission (EFCC), Sewanu, who was on the run, was nabbed in Sokoto, a city located in the northwest part of...
S.E.C. charges 5 for illegally promoting $2 billion Bitconnect Ponzi
28.5.2021
The S.E.C. says five individuals "promoted a global unregistered digital asset securities offering."
Cuban Central Bank Issues Warning on the Rising Number of Crypto-Related Ponzi Cases
19.5.2021
Cuba has witnessed some exciting times in the last few months as far as nationwide digital currency acceptance, but the road toward this goal is still under construction. The country’s central bank recently issued a warning about the rising number of cryptocurrency-related scam cases across...
John Lennon’s Son Defends Bitcoin- Musician Highlights Carbon Footprint Tied to Consumerism
16.5.2021
Over the course of the last week, the concern tied to the environmental impact bitcoin mining produces continues to be a very topical discussion. On May 14, the musician and activist, Sean Ono Lennon, the son of John Lennon and Yoko Ono, said that he’s more concerned with consumerism than...
Lawsuit Claims Onecoin’s ‘Cryptoqueen’ Ruja Ignatova Holds 230,000 Bitcoin
14.5.2021
One of the ringleaders of the largest crypto Ponzi schemes, Onecoin’s Ruja Ignatova, otherwise known as the “Cryptoqueen,” allegedly owns 230,000 bitcoin worth over $11 billion today. Court documents filed by victims of the Onecoin scheme indicate that she received the bitcoins...
Powers On… Why Bernie Madoff should be a powerful lesson to stock and crypto memecoin investors
11.5.2021
I should know, I helped chase down $1 billion of his fraudulently-obtained cash
National Court of Spain Takes the Investigation of the Alleged Ponzi Crypto Scheme Arbistar
23.4.2021
The investigation against an alleged major Spanish Ponzi crypto scheme will now be in charge of the National Court of Spain. A judge from the national legal instance is now taking the investigation of Arbistar after the inhibition of a judge in Tenerife. Economic Damages Could Reach Over $120...