Bitcoin Scams

New Zealand Police Seize $4.2 M in Crypto in Movie Piracy Investigation

The national police force of New Zealand have seized between NZ$6.2 and NZ$6.7 million in cryptocurrency from a man who allegedly was involved in online movie piracy in the United States. Two accounts of the seizure At 5:00 AM local time, on Nov. 23, the New Zealand Herald reported that New Zealand police had restrained …

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Cryptocurrency and Blockchain News From Brazil: Oct. 28-Nov. 3 in Review

Brazil has seen another tumultuous week in the cryptocurrency industry, as the alleged pyramid scheme Atlas Quantum upsets it customers yet again, another six individuals linked to the Unick Forest crypto scheme are arrested, and the founder of A2 Trader challenges Brazilian regulators to shut down his trading website. Here is the past week of …

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NY Court Orders Veritaseum to Pay Back $8 Million From Illegal ICO

The CEO of Delaware-registered blockchain firm Veritaseum LLC and New York-registered Veritaseum Inc., Reggie Middleton, was ordered to pay $8.4 million in disgorgement, according to a new court order. Additionally, Middleton is liable for a civil penalty of $1 million, fintech publication FinanceFeeds reported on Nov. 1, citing a court order issued on Oct. 31. …

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Malta’s Financial Watchdog Warns of Repeat Offender Bitcoin Scam

The Malta Financial Services Authority (MFSA) has warned of a new Bitcoin (BTC) scam that shares the same characteristics as a previously identified entity. The watchdog issued its warning on Oct. 31. Opportunity for fraud The MSFA cautions the public that an entity dubbed “Bitcoin Future” appears to display “the same deceitful characteristics” as a …

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Coinbase UK Settles Lawsuit With Victim of Email Phishing Attack

The United Kingdom arm of cryptocurrency exchange Coinbase settled a two-month legal battle with a man who lost 80 Bitcoins (BTC) in an email phishing attack. Stolen Bitcoin diverted to Coinbase On Sept. 10, legal news site Law360 reported that Coinbase U.K. had reached an undisclosed settlement with Liam Robertson to exit a London-launched litigation …

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Four Out of Five Top Bitcoin QR Code Generators are Scams: Report

Four out of the first five results presented when querying Google for a “bitcoin qr generator” lead to scam websites. The findings Cryptocurrency wallet ZenGo wrote the findings in a blog post published on Aug. 29. Reportedly, when researching prior to implementing QR Code support in their wallet, ZenGo learned of the prevalence of scam …

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Thai ‘Cryptocurrency Wizard’ Nabbed for Alleged Role in $16M Heist

A 48-year old Thai man who called himself the “cryptocurrency wizard” has been arrested in Bangkok over his alleged role in a 500 million baht ($16.3 million) crypto exchange fraud. The Bangkok Post reports on Sept. 5 that police nabbed Mana Jumuang, who has been under an arrest warrant since Aug. 23, while he was …

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Thai SEC Warns Public About New Crypto Scam Operating Overseas

Thailand’s securities regulator has warned the public about scam entities posing as legal digital currency trading firms operating overseas. Investor losses are not known The Thai Securities and Exchange Commission (SEC) has discovered a new crypto scam where investors are lured into operating with companies outside the country, local English-language news outlet Bangkok Post reports …

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Huobi Processed 50% of All PlusToken Withdrawals This Month: Report

Chinese crypto exchange Huobi has seen the highest number of withdrawals from the alleged crypto Ponzi scheme PlusToken to date, new research says. Chinese exchanges prevail New York-based blockchain infrastructure firm Elementus released a study on Aug. 23, claiming that the number of PlusToken withdrawals sent to Huobi exchange has accounted for nearly 50% so …

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Saudi Arabia Warns of Crypto Scammers Posing as Gov’t Projects

Saudi Arabia’s Finance Ministry has warned against crypto tricksters using the kingdom’s official emblem to promote tokens that purport to be tied to government projects. Arab News reported on Aug. 21 that the ministry has identified a Singapore-based company promoting two fraudulent cryptocurrencies, dubbed “CryptoRiyal” and “SmartRiyal.”  Fraud alert: hype and pump CryptoRiyal and SmartRiyal’s …

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