Chinese authorities in Rong County recently said they have prosecuted eight individuals accused of being the masterminds behind the Magic Data Chain (MDC) pyramid scheme. The pyramid is thought to hav...
Tag: Scheme
Terra Like A Crypto “Pyramid Scheme,” Says Activist Investor Bill Ackman
Activist investor Bill Ackman weighed in on the recent Terra crisis, calling the protocol a crypto version of a pyramid scheme. Ackman’s comments come in wake of the Terra blockchain losing most of it...
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...
FBI Arrests CEO of NY-Based Crypto Platform for Alleged Fraudulent Scheme
Key Insights: The CEO of a crypto and forex trading platform is charged with a fraudulent scheme. Eddy Alexandre promised 5% weekly returns for its investors. The case is being handled by the Office’s...
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...
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...
CFTC Charges American Resident in $59 Million Illegal FX Scheme
The Commodity Futures Trading Commission in the US (CFTC) confirmed yesterday that it has filed a civil enforcement action against Eddy Alexandre, a resident of Valley Stream, New York in a fraudulent...
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, ...
The South African Bitcoin Fraud Scheme Masterminds Asked To Pay Back Over $291M
MTI asked to pay back over $291 million to cover a fraud operations debt. This comes following an unsuccessful attempt of the liquidators to have the online trading platform declared an illicit ...
Crypto Trader Running $5M ‘Ponzi-like’ Scheme Faces Nearly 4 Years in Prison: DoJ
Jeremy Spence, a 25-year-old Rhode Island crypto trader, also known as “Coin Signals” on social media channels, has been sentenced to 42 months in prison for defrauding 170 people for more than $5.37 ...
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...
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...
Department of Justice Indicts Crypto CEO for Alleged $62M Fraud Scheme
The CEO of mining and investment platform Mining Capital Coin (MCC) Luiz Capuci Jr. has been indicted for allegedly orchestrating a $62 million fraud that affected thousands of investors. According to...
The SEC Has Put A Stop To A $62 Million Cryptocurrency Mining And Trading Scheme And The DOJ Has Charged The Founder
The MCC founder also reportedly recruited promoters and affiliates to promote MCC in a pyramid scheme, concealing the location and control of the fraud proceeds through several foreign-based cryptocur...
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....
Crypto Pyramid Scam: DOJ Charges Mining Capital Coin CEO In $62M Fraud Scheme
The US Department of Justice charged Mining Capital Coin’s senior executive officer with conspiracy to commit a $62 million crypto investment scam. According to the DOJ complaint, Luiz Capuci and unna...
SEC Ceased $62 Million Global Cryptocurrency Trading and Mining Scheme
The SEC announced MCC’s (Mining Capital Coin) fraudulent crypto mining and trading activities in the country. The MCC and its founders (Luiz Carlos Cappuci Jr. and Emerson Sounza Pires), and two enti...
Mining Capital Coin CEO accused of $62M investment fraud scheme
The CEO and co-founder of crypto mining and investment platform Mining Capital Coin (MCC) Luiz Capuci Jr. has been indicted by the Department of Justice (DOJ) for “allegedly orchestrating a $62 millio...
SEC Halts $62 Million Crypto Mining, Trading Scheme — DOJ Indicts Founder – Regulation Bitcoin News
The U.S. Securities and Exchange Commission (SEC) has halted a $62 million global cryptocurrency trading and mining scheme and the Department of Justice (DOJ) has indicted its CEO and founder. If conv...
Crypto CEO Indicted in $62 Million Fraud Scheme
Alex Dovbnya A Florida man has been indicted in a massive cryptocurrency fraud scheme Mining Capital Coin CEO Luiz Capuci Jr. has been charged with orchestrating a massive cryptocurrency fraud scheme ...
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...
Why did the New York Mayor propose the State BitLicense Removal Scheme?
Pro crypto mayor of New York, Eric Adams thinks that the BitLicense rule acts in hampering innovations within the region While advocating for a strict BitLicense scheme’s abolishment, the Mayor ...
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,...
Eric Adams urges State to abandon ‘stifling’ BitLicense scheme
New York town city manager Eric Adams has hit out at his State’s BitLicensing regime, claiming that it stifles innovation and economic growth. In an exceedingly closing keynote interview at the Crypto...
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...
U.S. Rep. Madison Cawthorn Accused of LGBCoin Pump-and-Dump Scheme
U.S. representative Madison Cawthorn may have defied federal insider trading laws after his alleged involvement in a crypto pump-and-dump scheme. Several watchdog groups allege that the North Carolina...
Two Europeans were charged over a North Korean crypto scam scheme against an American
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Scaramucci’s SkyBridge to Add Bitcoin to Its 401(k) Pension Scheme, Following Fidelity’s Example
Yuri Molchan Antony Scaramucci has tweeted that Bitcoin would become part of SkyBridge’s 401(k) program SkyBridge Capital founder and chief executive Scaramucci has taken to Twitter to announce ...
Robert Taylor Charged in Illicit Bitcoin ATM Scheme
A man has been charged with running several illegal bitcoin and crypto ATMs in New York that were set up in laundromats throughout the state. Robert Taylor, 35 years of age, has been charged with crim...