The United States Commodity Futures Trading Commission (CFTC) has charged two U.S. residents and their entities for running a cryptocurrency investment scheme that defrauded over 170 investors. CFTC C...
Tag: Ponzi
CFTC Nabs 2 Crypto Fraudsters Involving in a $44M Ponzi Scheme
Two suspected cryptocurrency fraudsters Sam Ikkurty of Portland, Oregon, and Ravishankar Avadhanam of Illinois have been charged by the United States Commodity Futures Trading Commission (CFTC) for il...
$44M Ponzi scheme charged with stealing $18M in funds
Two individuals and a company have been charged with operating an illegal community pool and fraudulently soliciting $44 million via an “income fund investing in digital assets.” The defendants are Sa...
Korean Prosecutors Consider Bringing Ponzi Scheme Charges Against Terraform Labs’ CEO
The Seoul Southern District Prosecutor’s Office in Korea is investigating whether it can bring charges of a Ponzi scheme against Terraform Lab’s CEO, Do Kwon. The prosecutor’s department in Korea is l...
Terra (LUNA) Founder Do Kwon Facing South Korea Investigation Over Claims of Ponzi Fraud: Report
The CEO of Terraform Labs is facing possible criminal charges in the wake of two leading cryptos collapsing earlier this month. In a new report, Yonhap News says that South Korean authorities are cons...
Prosecutors Investigate Do Kwon with Ponzi Fraud Charges amid Terraform Labs Dissolvement
Do Kwon’s scandal seem to be deepening. Prosecutors are investigating whether they will file Ponzi fraud charges against him following the Terra crash, according to The Korea Times. This comes a day ...
Terra’s Do Kwon Investigated for Running a Ponzi: Report
Key Takeaways Adding to criminal complaints from a group of South Korean investors, prosecutors are reportedly investigating Terraform Labs CEO Do Kwon on Ponzi charges. The prosecutors are scrutinizi...
CFTC indicts 2 men for running a $44M crypto Ponzi scheme
A number of recent Ponzi schemes have utilized decentralized finance (DeFi) infrastructure and the crypto ecosystem to steal from their investors. CFTC charged two Americans with running a cryptocurre...
CFTC Charges 2 Men With Running a $44M Crypto Ponzi Scheme
Officials with the Commodity Futures Trading Commission (CFTC) allege Sam Ikkurty (also known as Sreenivas I Rao), of Portland, Ore., and Ravishankar Avadhanam of Aurora, Ill., as well as several corp...
MakerDAO’s Founder Predicted TerraUSD (UST) As Ponzi In January, But Many Ignored
– Advertisement – The MakerDAO founder had warned that UST will go to zero because it is a solid Ponzi. It is no longer news that TerraForm Labs ecosystem tokens, including TerraUSD (UST) ...
How The DeFi Space Has Become A Massive Breeding Ground For Crypto Ponzi Schemes
A large number of recent Ponzi schemes have used decentralized finance (DeFi) infrastructure to defraud their customers. This article explores the DeFi ecosystem and how fraudsters are able to exploit...
Tax investigators identify potential $1 billion crypto Ponzi scheme, reports say
International tax officials have identified more than 50 leads to potential crypto tax crimes that may lead to official investigations in the coming weeks, including one case that could be a $1 billio...
$1 billion crypto ponzi scheme identified by 5 financial regulators
Digital currencies have been tested over the last month since the plunge The developing business sector has been shaken by fundamentally moving costs, falling resources, and an assortment of financia...
Crypto Regulators From 5 Countries Identify A Potential $1 Billion Ponzi Scheme
In recent months, investing in cryptocurrencies has been challenging. The emerging market has been shaken by radically shifting prices, collapsing assets, and a variety of economic challenges. Since N...
FTX Sam Bankman-Fried Defends Terra’s Founder, Says ‘Most bad Investments Aren’t Ponzi Schemes’
FTX founder Sam Bankman-Fried has tweeted in defense of Terra ecosystem and its CEO and co-founder, Do Kwon. In response to a Coindesk article that described Do Kwon as the Elizabeth Holmes of crypto...
Terra ecosystem collapses, Sam Bankman-Fried buys Robinhood stock, and crypto trader receives jail sentence for a ponzi scheme: Hodler’s Digest, May 8-14
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, pr...
US, UK, Canada, Australia, Netherlands Share Crypto Criminal Leads, Including a Potential $1B Ponzi Scheme – Regulation Bitcoin News
Officials from the U.S., U.K., Canada, Australia, and the Netherlands have shared data and identified more than 50 crypto-related criminal leads, including one case that could be a $1 billion Ponzi sc...
Cryptos Break Down Below Previous Support, Then Bounce: Bitcoin, Ethereum, XRP
Going down to support. getty That spot on the price chart where “down” stopped and “up” began, some weeks or months ago, is known to analysts as the support level. Enough investors came in as buyers a...
Cryptocurrency: Pyramid Scheme v.s Ponzi Scheme?
– Advertisement – Have you ever heard your friends or relatives say they fell for a Ponzi scheme? It can be traced back to the early 20th century; however, it still exists today. In fact, ...
Masterminds Behind South African Bitcoin Ponzi Scheme Told to Pay Back Over $291 Million – Regulation Bitcoin News
Masterminds of one of South Africa’s biggest bitcoin Ponzi schemes, Mirror Trading International (MTI), have been asked by the scheme’s liquidators to pay back over $291 million to cover the scam oper...
LUNA, UST postmortem: Was it a coordinated attack or a ponzi
Two days have passed since Terra’s UST got knocked off its dollar peg and it looks like any recovery attempts have failed. LUNA has turned out to be the unfortunate casualty of an unfortunate series o...
CFTC Continues Crackdown, Busts $543K FX Ponzi Scheme
The Commodity Futures Trading Commission (CFTC) announced on Tuesday the filing of a civil enforcement action against two companies, Nawabi Enterprise and Hyperion Consulting, and their owner Eshaq Na...
CTO of tech used in Bitcoin-Qt wallet thinks crypto is a “Ponzi scheme”
The CTO of the popular programming framework Qt — which tech giants like Adobe use, Tesla, Blackberry, Google, and Blizzard — called cryptocurrency a “Ponzi scheme” on May 6. However, the company has ...
Mining Capital Coin CEO Indicted for Masterminding $62M Crypto Ponzi Scheme
Mining Capital Coin CEO Luiz Capuci Jr has been indicted on Friday for orchestrating a scam that defrauded investors around the world of about $62 million, according to the U.S. Department of Justice....
Ethereum: Ponzi scheme or genuine opportunity? Users wary as gas fees skyrocket
The largest smart contract network Ethereum (ETH) is seeing an unmatched spike in inactivity. From institutional adoption to rising traction, and whatnot. Given the demand, Ethereum (ETH) network part...
US DOJ Indicts Block Bits Fund Founder In a $960,000 Crypto Ponzi Scheme
Block Bits Fund Founder 44-year-old Japheth Dillman is charged by the United States Department of Justice (DOJ) for deceiving investors into committing a false arbitrage Autotrader of a total of $960,...
FTX CEO Describes Yield Farming as a Ponzi Scheme
Sam Bankman-Fried, the CEO of FTX, has offered his explanation of exactly what “yield farming” is. But alert listeners to the Odd Lots podcast on Apr. 25 will have noticed that what Bankman-Fried actu...
Opinion: Why I don’t want bitcoin in my 401(k)
Hooray! At long last, the company managing my 401(k) plan will allow me to bet up to 20% of my retirement funds on a digital Ponzi scheme that generates no income and has no practical use. Fidelity In...
Why some people are saying Waves is a ponzi scheme
Algorithmic stablecoin pegged to the US dollar, Neutrino has fallen by 15% from its peg and is now worth around 82 cents instead of a dollar. Neutrino (USDN) is a top ten stablecoin in the market and ...
WAVES’s Stablecoin USDN De-Pegged and Fell to $0.85 Following Ponzi Scheme Accusations
Arman Shirinyan WAVES, which gained more than 450% in March, has already lost 35% of its value following rumors Contents Drama behind Waves Ivanov blaming Bankman-Fried WAVES-powered stablecoin USDN d...
Deutsche Bank Must Face Lawsuits Alleging It Enabled Ponzi Scheme
Judges in New York and Miami ruled that investor lawsuits could advance against Germany’s Deutsche Bank AG for allegedly ignoring warnings that it was helping finance a real-estate-linked Ponzi scheme...
Mirror Trading International practiced the Ponzi scheme
Reflect exchange global, otherwise called MTI, works in the forex speciality. It is a web-based speculation stage that coordinates advanced computerized programming and artificial reasoning to exchang...