Losing money to a Ponzi scam is not the ideal introduction to the crypto ecosystem. Thankfully, Mark Dave Manansala gave crypto and blockchain a second chance and discovered a new passion. It all star...
Tag: Ponzi
Akoin Marks $5 Million Volume in Kenya, Akon City Claimed To Be ‘Ponzi Scheme’
Akon’s cryptocurrency, titled Akoin, has touched a $5 Million milestone in its trade volume in Kenya. It was initiated as pilot program for payments previous year. Token was particularly created for t...
Akon’s Crypto Hits $5M Volume at Kenyan Pilot Facility, as Ex-Associate Criticizes Akon City as ‘Ponzi Scheme’
Akoin, the cryptocurrency founded by music superstar and philanthropist Akon, has reached $5 million in total transaction volume (TVL) since it began as a pilot for payments at a high-tech smart city ...
CFTC Files Charges against Four Operators of $44 Million Crypto Ponzi
The US Commodity Futures Trading Commission (CFTC) announced on Tuesday that it had filed a civil enforcement action to charge four operators for running a $44 million Bitcoin Ponzi scheme Ponzi Sch...
BitConnect Founder Satish Kumbhani Disappears After Being Charged With $2.4 Billion Ponzi Scheme
Satish Kumbhani, the founder of BitConnect, has disappeared from his native India after being charged criminally in the United States by the SEC with a $2.4 billion Ponzi scheme, according to official...
BitConnet’s CEO Flees India After Crackdown Of $2.4 Billion Crypto Ponzi Scheme
The long-standing crypto fraud case against BitConnect, its founder, and promoters is yet to be resolved. The SEC has revealed that Satish Kumbhani, the founder of the crypto exchange, is nowhere to b...
The US charged BitConnect’s Satish Kumbhani with $2.4 billion for the Ponzi scam
BitConnect creator Satish Kumbhani was accused by a US grand jury of accusations that he engineered a global Ponzi scheme that generated $2.4 billion from investors. Kumbhani may face up to 70 years i...
Ponzi Scam: BitConnect’s Indian Founder Charged In $2.4 Billion Bogus Scheme
A federal grand jury in San Diego charged the founder of a cryptocurrency startup Friday in a broad indictment that claims he cheated investors of more than $2.4 billion in a Ponzi scam. Prosecutors s...
US Charges Indian Citizen in $3.4 Billion Crypto Ponzi Scheme Bitconnect – Regulation Bitcoin News
The founder of the $3.4 billion crypto Ponzi scheme Bitconnect has been charged in the United States. “If convicted of all counts, he faces a maximum total penalty of 70 years in prison,” said the U.S...
Dogecoin founder labels other meme coins as ponzi schemes
Dogecoin founder labels other meme coins as ponzi schemes due to their nature He claims meme coins are not even meme coins Lying about the nature of the crypto has been a trend Meme coins (aside fro...
BitConnect’s Kumbhani Charged by U.S. in $2.4 Billion Ponzi Scam
(Bloomberg) — BitConnect founder Satish Kumbhani was indicted by a U.S. grand jury on charges he orchestrated a global Ponzi scheme that raised $2.4 billion from investors in a fraudulent crypto...
BitConnect Founder Satish Kumbani Indicted for Ponzi Scheme
Key Insights: BitConnect founder Satish Kumbhani indicted for Ponzi Scheme In 2021, BitConnect and Kumbhani were sued by the SEC. Penalties for illegal activity are hefty, with some jurisdictions call...
DOJ indicts BitConnect’s Indian founder for $2.4B crypto Ponzi scheme
The founder of the infamous crypto exchange BitConnect, Satish Kumbhani, has been charged for allegedly misleading investors globally and defrauding them of $2.4 billion in the process. According to t...
BitConnect founder indicted for alleged $2.4 billion Ponzi scheme
advertisement A federal grand jury has indicted BitConnect founder Satish Kumbhani with allegedly defrauding $2.4 billion through the crypto Ponzi scheme. The US Department of Justice announced on Fri...
Dogecoin Co-Creator Bashes Other Memecoins, Compares them to Ponzi Schemes
Billy Markus – Co-Founder of Dogecoin – is not keen on other memecoins. In his view, creators of such projects are “trying to get rich” on the back of individuals seeking quick profits. ‘Memecoins Are...
Ponzi scheme behind patriotic vodka, once featured on ‘Fox & Friends,’ scammed investors out of $900,000 to pay IRS and Amex bills, prosecutors say
A Connecticut businessman has pleaded guilty to operating an unpatriotic Ponzi scheme that pocketed $900,000 from investors looking to buy a pro-veteran vodka company. Brian Hughes, 57, of Madison, Co...
India’s Central Bank Likens Cryptocurrencies To Ponzi Schemes
A top official at India’s central bank recently reiterated warnings to Prime Minister Modi’s government about the risks cryptocurrencies pose to the country’s financial system. This time, he compared ...
India’s RBI Dy Governor Calls Crypto Worse Than A Ponzi Scheme, Calls For Outright Ban
The cryptocurrency tax was the first step taken by the Government of India to bring cryptocurrencies under some form of regulation. However, it seems more is in store, especially taking the statements...
May I Love You? The first NFT by Emiliano Ponzi and Giuliano Sangiorgi
The Milanese creative Emiliano Ponzi, who in his career has signed illustrations for newspapers and publishers such as the New York Times, Le Monde, the New Yorker, the moma of New York, Der Spiegel, ...
This Avalanche Project Main Dev Was Behind A Ponzi Scheme?
The Avalanche community has seen its fair share of drama in the past days as Wonderland (TIME) hit a new price low. Data from CoinGecko indicates that the token has lost over 90% of its value since No...
Nigerian Lawmakers Urged to Consider Regulating Crypto Industry After Proposal to Jail Ponzi Operators – Emerging Markets Bitcoin News
The leader of the Nigerian blockchain association, Senator Ihenyen, has implored the country’s lawmakers — currently pushing for the securities law to be revamped — to consider crafting laws that regu...
‘Ponzi Schemes Have Created a Negative Reputation for the Industry’ — Uganda Blockchain Advocate – Interview Bitcoin News
Education and awareness campaigns are still viewed as important channels that draw people to cryptocurrencies and blockchain. This has been particularly true in some parts of Africa where bitcoin and ...
Dire Performance of Ethereum Gas Fee Tokens Forms Ponzi Allegations
Couple of new tokens have shifted concentration on airdropped tokens gas fees of Ethereum to users of network. Mediocre performance of both tokens have started to raise questions, and allegations are ...
Is Crypto a Ponzi? Define 'Ponzi'
If you can believe it, scams and Ponzi schemes have existed and thrived in the cryptocurrency industry well before the recent speculative exuberance around decentralized finance (DeFi), non-fungible t...
Ethereum gas fee tokens poor performers, Ponzi accusations
Without any sign of gas fees on Ethereum being less of a pain to users, the fees continue to be a hot topic, and a driving force and tailwind for so-called Layer-1 competitors such as Solana and Avala...
Opinion: ‘Better than a 401(k)’? Scammer blew through more than $5 million of investors’ money earmarked for retirement
According to the Securities and Exchange Commission, Marco “Sully” Perez of Midland, Texas, used to tell his clients that his investment scheme was better than a 401(k). Now the U.S. District Court in...
India Seizes $5 Million Worth Assets in $162M Morris Coin Crypto Ponzi Scheme
The Indian Enforcement Directorate took strict actions against the crimes involving cryptocurrencies; it is a department under the Indian Ministry of Finance. The police in one of the states filed an ...
Man Behind 29000 Bitcoin Ponzi Scam is Arrested in Brazil
Johann Steynberg, a South African known for running the multi-million dollar Ponzi scam Mirror Trading International (MTI), was recently arrested in Brazil. This would be yet another large-scale arres...