fraud Archives

Scammers target FTX collapse victims by mimicking US State Department

Business

Wahid Pessarlay

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2 January, 2023

Scammers target FTX collapse victims by mimicking US State Department

The scammers bait FTX victims by using a website that appears to be run by the U.S. Department of State,...

California flags 17 virtual currency websites for alleged fraudulent activities

Business

Wahid Pessarlay

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31 December, 2022

California flags 17 virtual currency websites for alleged fraudulent activities

Scammers use age-old methods like phishing and impersonation to lure victims into investing in the lucrative digital asset sector, promising...

South Korea: Top executives of scam V Global exchange convicted

Business

Wahid Pessarlay

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31 December, 2022

South Korea: Top executives of scam V Global exchange convicted

Convicted employees of the now-defunct V Global exchange have risen to seven, with two C-level executives being the latest to...

Investors sue Winklevoss twins for fraud over Gemini’s interest-bearing accounts

Business

Steve Kaaru

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30 December, 2022

Investors sue Winklevoss twins for fraud over Gemini’s interest-bearing accounts

Gemini was among the many digital asset companies offering Earn accounts but with the contagion hitting its business partner Genesis,...

2 AAX executives arrested in Hong Kong over alleged fraud amid withdrawal freeze

Business

Wahid Pessarlay

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28 December, 2022

2 AAX executives arrested in Hong Kong over alleged fraud amid withdrawal freeze

Police in Hong Kong suspect that the AAX's scheduled "system maintenance" that led to funds being unable to be withdrawn...

Sam Bankman-Fried out of jail on $250M bail… sort of

Business

Jon Southurst

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23 December, 2022

Sam Bankman-Fried out of jail on $250M bail… sort of

Just a day after his extradition from the Bahamas to New York City, FTX CEO Sam Bankman-Fried was freed on...

Philippines: PH-IGM, Gameloot, Vertex Evo Trading hit with SEC warnings

Business

Wahid Pessarlay

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23 December, 2022

Philippines: PH-IGM, Gameloot, Vertex Evo Trading hit with SEC warnings

The SEC blacklisted PH-IGM, Gameloot, and Vertex Evo Trading, for breach of securities law and operating like a Ponzi scheme.

OneCoin co-founder pleads guilty to operating Ponzi scam, faces 40 years in US prison

Business

Wahid Pessarlay

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22 December, 2022

OneCoin co-founder pleads guilty to operating Ponzi scam, faces 40 years in US prison

Karl Sebastian Greenwood served as OneCoin’s “global master distributor” and was the head of the multi-level marketing scheme, earning GBP20...

4 charged in US over digital asset Ponzi scheme targeting Latin American communities

Business

Wahid Pessarlay

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19 December, 2022

4 charged in US over digital asset Ponzi scheme targeting Latin American communities

Forcount Trader Systems Inc. investors were lured in by the opportunity to earn rewards from a referral program, a ploy...

Alleged leader of Russian Ponzi scheme nabbed after costing investors nearly $100M

Business

Wahid Pessarlay

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13 December, 2022

Alleged leader of Russian Ponzi scheme nabbed after costing investors nearly $100M

Edvard Sabirov's extradition is making headways following his arrest on suspicion of being involved in a digital asset Ponzi scheme,...

Celsius Network ordered to return $44 million to customers

Business

Steve Kaaru

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12 December, 2022

Celsius Network ordered to return $44 million to customers

The $44 million was held in its custodial accounts, which, according to its Terms and Conditions, wasn’t under its ownership...

Onecoin crisis manager facing fraud, money laundering charges fights to prevent US extradition

Business

Wahid Pessarlay

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12 December, 2022

Onecoin crisis manager facing fraud, money laundering charges fights to prevent US extradition

If tried in his home country of Luxembourg, Frank Schneider will face up to five years in prison, but extradition...

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