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Fraud

Aventus Announces Ethereum-Based Protocol to Enhance Ticketing Industry

The digital assets-focused blockchain-based protocol, Aventus, revealed its next code release Aventus Classic designed to create a more equitable and transparent ticketing industry. Alleviate fraud and provide transparency On Sept 12, Aventus Network announced in a blog post the release of Aventus Classic, a fully decentralized open-source Ethereum-based ticketing protocol designed to stop fraud and …

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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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Judge savages self-proclaimed bitcoin inventor Craig Wright

Enlarge / Craig Wright, right, arrives at federal court in West Palm Beach, Florida, on June 28, 2019. Saul Martinez/Bloomberg via Getty Images Australian Internet personality Craig Wright claims he is bitcoin inventor Satoshi Nakamoto. A lot of people don’t believe him. But one person who does believe him is Ira Kleiman, the brother of deceased …

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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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Australian Hacker Pleads Guilty to Stealing $450,000 in XRP Last Year

Australian citizen Katherine Nguyen has pleaded guilty to stealing $450,000 in XRP — over 100,000 tokens — in January 2018. Local news channel 7News Sydney reported the latest about the case on Aug. 23. According to the report, Nguyen hacked into the email account of a man with the same last name. She then proceeded …

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Canadians Charged for $220,000 Bitcoin Scam on Twitter

Two Canadian nationals have been indicted for scheming to steal bitcoin from an Oregon resident. Karanjit and Jagroop Singh Khatkar of Surrey, British Columbia, Canada, posed as customer service representatives of HitBTC, a Hong Kong-based cryptocurrency exchange, in order to steal login credentials of a target’s account. According to a statement from the Attorney’s Office …

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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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Bitfinex and Tether Respond to New York Judge, Will Pursue Appeals

Bitfinex and Tether have replied to Judge Joel Cohen’s recent ruling in the New York Attorney General (NYAG) ongoing case against companies. Cohen dismissed Bitfinex’s motion to throw out the case due to lack of jurisdiction, so the NYAG will continue to prosecute the companies via the Martin Act. Bitfinex issued its reply in an …

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Judge Rejects Multimillion Dollar Asset Plea in Crypto Fraud Case

A Supreme Court judge in British Columbia (BC), Canada, has denied a motion to set aside an asset freeze, which was requested by the defendants in a multimillion dollar cryptocurrency fraud case. The defendants had filed to set aside an interim preservation order that was issued by the British Columbia Civil Forfeiture Office in order …

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Luxembourg Financial Watchdog: Crypto Entity Lied About Licensure

Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), says that a seemingly crypto-related entity called Cryptominingoptionsignal claims to be licensed in Luxembourg, but is not. In a warning notice dated Aug. 13, the country’s watchdog simply wrote:  “The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of …

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