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Former CEO of sham crypto miner IcomTech pleads guilty of wire fraud for Ponzi scheme
27.9.2023
Former IcomTech head Marco Ochoa is the latest crypto fraudster to face charges, while the CFTC charged another company and its head
Fraudster Faces 12-year Jail Sentence for $100M Crypto Ponzi Scheme
27.9.2023
Pablo Renato Rodriguez, co-founder of the major crypto-based pyramid scheme AirBit Club, has been sentenced to 12 years in prison by US District Judge George B. Daniels.
Rodriguez and his co-conspirators, including Gutemberg Dos Santos, orchestrated the AirBit Club scheme, which lured unsuspecting...
British Law Firm to Sue Onecoin Cryptoqueen to Recover Investor Funds
25.9.2023
A London-headquartered law firm is preparing a lawsuit against the fugitive mastermind of the Onecoin crypto pyramid scheme, ‘Cryptoqueen’ Ruja Ignatova. Its lawyers intend to file a class action suit in the United Kingdom’s High Court, the British press revealed. Fugitive Cryptoqueen May Face U.K....
Lawyer Who Laundered Onecoin Money Denied New Trial
20.9.2023
A judge in the U.S. has rejected a request by a lawyer who laundered $400 million from the Onecoin crypto pyramid to have a new trial. The ruling clears the path for sentencing 54-year-old Mark Scott despite a key prosecution witness admittedly lying in court. Judge Not Convinced in Onecoin...
Onecoin Co-founder Karl Sebastian Greenwood Sentenced to 20 Years in Prison
14.9.2023
One of the founders of the crypto pyramid Onecoin, British and Swedish national Karl Greenwood, has been sentenced to 20 years in prison in the United States. Greenwood was the architect of the scam’s multi-level marketing structure and served as Onecoin’s global master distributor. Cryptoqueen...
Report: Brazilian Court Fines Mastermind of South African Bitcoin Ponzi Scheme
16.8.2023
A court in Brazil has found Johann Steynberg, the mastermind of the bitcoin ponzi scheme Mirror Trading International (MTI), guilty in a case in which he is accused of using a forged identity document. The court, however, commuted Steynberg’s three-and-a-half-year sentence to a fine of just...
Scottish Author Exposing Onecoin Cancels ‘Devil’s Coin’ Book Tour After Death Threats
7.8.2023
An author from Scotland has been targeted for her work to expose one of crypto history’s most notorious Ponzi schemes, Onecoin. Jennifer McAdam recently canceled book signings after receiving death threats for writing about the massive fraud and its ‘Cryptoqueen’ mastermind. Writer Cancels...
Lawyer Seeks Reopening of Onecoin Case in Bulgaria, Seizure of Assets
23.6.2023
A lawyer representing Onecoin victims has urged Bulgarian authorities to reopen an investigation into the crypto pyramid scheme and seize assets to compensate his clients. The attorney is asking officials in Sofia to take into account developments he considers related to the case, including...
Quadriga CX Customers to Finally Receive Payout: Creditors to Get 13% per Dollar
13.5.2023
EY, the global accounting and professional services organization, released a long-awaited update on Friday for the creditors of Quadriga CX. The Canadian cryptocurrency exchange, which had sought bankruptcy protection in 2019 with liabilities of C$215.7 million and assets totaling around C$28...
US Court Orders Operator of South African Bitcoin Ponzi Scheme to Pay Over $3.4 Billion
2.5.2023
Johann Steynberg, the founder and CEO of Mirror Trading International, has been ordered to pay over $1.73 billion in restitution to victims of his bitcoin ponzi scheme. The court has also ordered Steynberg to pay a civil monetary penalty of a similar amount. The Commodity Futures Trading Commission...
Multiple US state regulators allege AI trading dApp is a Ponzi scheme
5.4.2023
The alleged scheme claimed it could generate returns of up to 2.2% a day by leveraging AI to trade more often and with higher profits than a person could
Jake Paul-endorsed SafeMoon gets hacked after introducing a bug in upgrade
29.3.2023
A public burn() function introduced in the latest upgrade allegedly allows users to burn tokens from other addresses
Onecoin Head of Legal and Compliance Charged for Role in Crypto Pyramid
22.3.2023
Authorities in the U.S. have announced charges against a former Onecoin executive for her alleged role in the notorious crypto pyramid scheme. Bulgarian national Irina Dilkinska, who was extradited on Monday, may face up to four decades in prison if found guilty on counts of fraud and money...
Founders of Multimillion-Dollar Global Crypto Ponzi Scheme ‘Airbit Club’ Plead Guilty
10.3.2023
The founders and promoters of multimillion-dollar cryptocurrency Ponzi scheme Airbit Club have pleaded guilty to various criminal charges. Airbit Club victims were promised “guaranteed daily returns on any membership purchased,” the U.S. Department of Justice (DOJ) detailed. Airbit...
Airbit Club Founders, Lawyer Plead Guilty to $100M Fraud Scheme
8.3.2023
The scheme's founders and promoters promised victims their money would be invested in a lucrative mining operation, but instead spent funds on cars, jewelry and luxury homes
SEC Files Emergency Action Against Bkcoin in $100 Million Crypto Fraud Scheme
7.3.2023
The U.S. Securities and Exchange Commission (SEC) has filed an emergency action against Miami-based investment adviser Bkcoin and one of its principals, Kevin Kang. “The defendants disregarded the structure of the funds, commingled investor assets, and used more than $3.6 million to make...
Mirror Trading International Liquidators Spent More Than $6 million on Lawyers and Investigators
27.2.2023
Liquidators of the now defunct bitcoin trading platform, Mirror Trading International have so far used approximately $4.2 million on expenses such as lawyers’ or consultants’ fees. Between Jan. 23, 2023, and the date of their appointment, liquidators claimed to have recovered...
Feds discover DeFi’s alleged $340 million Ponzi scheme
24.2.2023
Centralized exchanges are under threat of being reprimanded by regulators in the US. When it appeared that things would be limited to the exchange sector, it was discovered that another sector was preparing for a serious allegation: decentralized finance (DeFi). In light of recent events, the...
Russian Founders of Defi Platform Forsage Indicted in $340 Million Crypto Ponzi Scheme
23.2.2023
Four Russians have been charged in the U.S. with operating a crypto pyramid and Ponzi scheme that defrauded investors of millions of dollars. If convicted, they would face a maximum penalty of 20 years in prison for their roles in the purportedly decentralized finance (defi) platform Forsage....
Forsage founders indicted over $340M DeFi ‘Ponzi scheme’
23.2.2023
According to the Department of Justice, Forsage employed smart contracts which were coded in ways consistent with a Ponzi scheme