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Canadian ‘Crypto King’ and Associate Arrested for Alleged $29.4M Investor Fraud
Two Ontario men, including a self-proclaimed “Crypto King,” have been arrested and charged with fraud. They allegedly defrauded investors of over C$40 million ($29.4 million).
Aiden Pleterski, 25, faces charges of fraud exceeding C$5,000 and laundering criminal proceeds, while his associate, Colin Murphy, 27, has also been charged with fraud. Murphy was released on an undertaking, according to a police statement.
Investigation and Charges
The Durham police launched an investigation in July 2022 following numerous complaints about investment fraud by a man from Whitby. The investigation uncovered an accomplice who also promised high weekly returns through investments.
"Victims provided money to him under similar circumstances, expecting he would invest it on their behalf and return large profits," the police stated. "These victims were ultimately defrauded and unable to recover their funds."
Police plan to hold a news conference on Thursday to provide more details about the case.
Investors Left High and Dry
For over a year and a half, Pleterski’s investors have been searching for the more than C$40 million they entrusted to him for cryptocurrency and foreign exchange investments. According to CBC News, a Toronto bankruptcy process in Ontario Superior Court has recovered about $3 million for around 160 investors so far.
An investigation by an insolvency trustee revealed that Pleterski diverted $16 million for personal use, including renting private jets, luxury vacations, car purchases, and leasing a lakefront mansion. Shockingly, only about 2% of the funds were actually invested.
During this period, Pleterski portrayed himself as a professional streamer online. In one live broadcast, he responded to a viewer’s comment calling him “jobless” with the phrase “internet money gang, internet money.”
Crypto Conman’s Kidnapping
In a dramatic turn of events, Pleterski was allegedly kidnapped last year from downtown Toronto. He was held captive for three days, tortured, and subjected to demands for a multi-million dollar ransom. The kidnappers reportedly drove him around southern Ontario before releasing him.
Further Crackdown
In December, an Ontario judge issued an arrest warrant for Ryan Rumble, another associate of Pleterski, who allegedly helped run the multi-year, multi-million dollar crypto investment scam.
As the investigation continues, authorities are working to uncover the full extent of the fraud and recover as much of the investors’ money as possible. The upcoming police news conference is expected to shed more light on the case and the actions being taken against those involved.
#crypto #fraud
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Aiden Pleterski, 25, faces charges of fraud exceeding C$5,000 and laundering criminal proceeds, while his associate, Colin Murphy, 27, has also been charged with fraud. Murphy was released on an undertaking, according to a police statement.
Investigation and Charges
The Durham police launched an investigation in July 2022 following numerous complaints about investment fraud by a man from Whitby. The investigation uncovered an accomplice who also promised high weekly returns through investments.
"Victims provided money to him under similar circumstances, expecting he would invest it on their behalf and return large profits," the police stated. "These victims were ultimately defrauded and unable to recover their funds."
Police plan to hold a news conference on Thursday to provide more details about the case.
Investors Left High and Dry
For over a year and a half, Pleterski’s investors have been searching for the more than C$40 million they entrusted to him for cryptocurrency and foreign exchange investments. According to CBC News, a Toronto bankruptcy process in Ontario Superior Court has recovered about $3 million for around 160 investors so far.
An investigation by an insolvency trustee revealed that Pleterski diverted $16 million for personal use, including renting private jets, luxury vacations, car purchases, and leasing a lakefront mansion. Shockingly, only about 2% of the funds were actually invested.
During this period, Pleterski portrayed himself as a professional streamer online. In one live broadcast, he responded to a viewer’s comment calling him “jobless” with the phrase “internet money gang, internet money.”
Crypto Conman’s Kidnapping
In a dramatic turn of events, Pleterski was allegedly kidnapped last year from downtown Toronto. He was held captive for three days, tortured, and subjected to demands for a multi-million dollar ransom. The kidnappers reportedly drove him around southern Ontario before releasing him.
Further Crackdown
In December, an Ontario judge issued an arrest warrant for Ryan Rumble, another associate of Pleterski, who allegedly helped run the multi-year, multi-million dollar crypto investment scam.
As the investigation continues, authorities are working to uncover the full extent of the fraud and recover as much of the investors’ money as possible. The upcoming police news conference is expected to shed more light on the case and the actions being taken against those involved.
#crypto #fraud
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
China Arrests Six in $300 Million Crypto Exchange Fraud Crackdown
In a decisive move against cryptocurrency-related crime, Chinese authorities have arrested six individuals involved in a $300 million crypto exchange fraud, signaling a stringent approach to regulatory enforcement. The operation, conducted by the Public Security Bureau of Panshi City in Jilin Province, targeted a sophisticated scheme exploiting the anonymity of digital currencies for illegal financial exchanges.
The Operation: Uncovering the Illicit Exchange Network
The fraud operation focused on illegal transactions between the Chinese renminbi (RMB) and the Korean won, leveraging underground banks and the decentralized finance (DeFi) sector. These activities were primarily aimed at facilitating unregulated exchanges across South Korea and China, highlighting the challenges posed by the borderless nature of cryptocurrencies.
The masterminds behind this extensive network, identified as Jin Moudong and Shen Mou, utilized the decentralized platforms to obscure their activities and evade law enforcement. The authorities' investigation revealed a complex web of transactions and banking activities that pointed directly to the perpetrators, leading to their eventual capture.
Detailed Investigation Leads to Arrests
Through meticulous analysis of transaction records and surveillance of suspicious activities, the Chinese authorities were able to dismantle the illegal operation. This network was not only involved in currency exchange but also in over-the-counter (OTC) trading of virtual currencies, which facilitated a broad range of illicit activities including transactions for Korean purchasing agents and various cross-border trading companies.
Implications of the Crackdown
This crackdown is part of China's broader effort to control the potential risks associated with digital currencies and maintain financial stability. The operation underscores the Chinese government's resolve to combat financial fraud, particularly in the burgeoning field of cryptocurrencies. It also serves as a stern warning to others involved in similar illicit activities, emphasizing the need for compliance with crypto regulations.
Moving Forward: Regulatory and Market Impact
As China continues to tighten its grip on the cryptocurrency market, this successful enforcement action highlights the importance of vigilance and legal compliance within the crypto community. Market participants are urged to adhere strictly to regulatory requirements to avoid the severe consequences of involvement in fraudulent schemes.
The Chinese authorities' proactive stance serves as a model for regulatory enforcement in the digital age, aiming to safeguard market integrity and protect investors from sophisticated crypto-related frauds. As the landscape of digital finance evolves, such measures are crucial in fostering a secure and stable financial environment.
#crypto #fraud #China
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
The Operation: Uncovering the Illicit Exchange Network
The fraud operation focused on illegal transactions between the Chinese renminbi (RMB) and the Korean won, leveraging underground banks and the decentralized finance (DeFi) sector. These activities were primarily aimed at facilitating unregulated exchanges across South Korea and China, highlighting the challenges posed by the borderless nature of cryptocurrencies.
The masterminds behind this extensive network, identified as Jin Moudong and Shen Mou, utilized the decentralized platforms to obscure their activities and evade law enforcement. The authorities' investigation revealed a complex web of transactions and banking activities that pointed directly to the perpetrators, leading to their eventual capture.
Detailed Investigation Leads to Arrests
Through meticulous analysis of transaction records and surveillance of suspicious activities, the Chinese authorities were able to dismantle the illegal operation. This network was not only involved in currency exchange but also in over-the-counter (OTC) trading of virtual currencies, which facilitated a broad range of illicit activities including transactions for Korean purchasing agents and various cross-border trading companies.
Implications of the Crackdown
This crackdown is part of China's broader effort to control the potential risks associated with digital currencies and maintain financial stability. The operation underscores the Chinese government's resolve to combat financial fraud, particularly in the burgeoning field of cryptocurrencies. It also serves as a stern warning to others involved in similar illicit activities, emphasizing the need for compliance with crypto regulations.
Moving Forward: Regulatory and Market Impact
As China continues to tighten its grip on the cryptocurrency market, this successful enforcement action highlights the importance of vigilance and legal compliance within the crypto community. Market participants are urged to adhere strictly to regulatory requirements to avoid the severe consequences of involvement in fraudulent schemes.
The Chinese authorities' proactive stance serves as a model for regulatory enforcement in the digital age, aiming to safeguard market integrity and protect investors from sophisticated crypto-related frauds. As the landscape of digital finance evolves, such measures are crucial in fostering a secure and stable financial environment.
#crypto #fraud #China
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
I may be silenced but I'll post for posterity anyway. The coins listed in futures are manipulated by the chief market maker (Binance??)! I've always been against regulation of crypto but the derivative activities definitely need to be regulated! It literally amounts to a sophisticated cash heist worse than Bernie Merdoff #fraud #BTC #Memecoins #Futures_Trading
FTX Gets Court OK to Sell $873M in Assets for Creditor Payback while Founder Awaits Sentence
A Delaware bankruptcy court has approved to allow FTX, a bankrupt crypto exchange, to sell $873 million in trust assets which will be used to pay back creditors.
The values of these assets have recently increased to a total of $873 million as of October 25 with $807 million from Grayscale Investments and $66 million from Bitwise.
On November 3 FTX debtors made a request to sell six cryptocurrency trusts, including Grayscale's Bitcoin and Ethereum trusts and Bitwise's Crypto Index Fund.
FTX owns significant shares in these trusts, with over 22 million units in Grayscale's Bitcoin trust and 6.3 million in their Ethereum trust.
Ethereum Classic, Litecoin, and Digital Large Cap - these are the other Grayscale trusts to be included in the sales in order to gather funds for affected FTX customers.
Since FTX's collapse, FTX's administrators have recovered around $7 billion in assets with $3.4 billion in cryptocurrencies. The total customer assets misused is a total of $8.7 billion.
Convicted on fraud charges, Sam Bankman-Fried, FTX's founder, is waiting to be sentenced while he's in detention at Brooklyn's Metropolitan Detention Center, where he recently traded mackerels for a haircut.
#FTX #cryptocurrency #bankruptcy #fraud
A Delaware bankruptcy court has approved to allow FTX, a bankrupt crypto exchange, to sell $873 million in trust assets which will be used to pay back creditors.
The values of these assets have recently increased to a total of $873 million as of October 25 with $807 million from Grayscale Investments and $66 million from Bitwise.
On November 3 FTX debtors made a request to sell six cryptocurrency trusts, including Grayscale's Bitcoin and Ethereum trusts and Bitwise's Crypto Index Fund.
FTX owns significant shares in these trusts, with over 22 million units in Grayscale's Bitcoin trust and 6.3 million in their Ethereum trust.
Ethereum Classic, Litecoin, and Digital Large Cap - these are the other Grayscale trusts to be included in the sales in order to gather funds for affected FTX customers.
Since FTX's collapse, FTX's administrators have recovered around $7 billion in assets with $3.4 billion in cryptocurrencies. The total customer assets misused is a total of $8.7 billion.
Convicted on fraud charges, Sam Bankman-Fried, FTX's founder, is waiting to be sentenced while he's in detention at Brooklyn's Metropolitan Detention Center, where he recently traded mackerels for a haircut.
#FTX #cryptocurrency #bankruptcy #fraud
Imagine if the #Blockchain system was implemented in elections, allowing everyone to see the voting process in a ledger. How many impacts could it have in preventing #fraud and corruption?
BREAKING: Bulgarian Woman Charged in $4B Crypto Fraud Case, Extradited to U.S.
Irina Dilkinska co-founded an alleged Pyramid scheme called OneCoin.
#Launchpad #GPT-4 #fraud #breaking #BTC
Irina Dilkinska co-founded an alleged Pyramid scheme called OneCoin.
#Launchpad #GPT-4 #fraud #breaking #BTC
🚨UK bank HSBC blocks crypto buys with credit cards! Crypto crackdown or bank panic? They should fix their own money laundering scandals before messing with our crypto freedom. Remember HSBC’s $1.9B fine for drug cash? #DeFi #cryptonews #fraud
Mumbai Police saves 3 from falling prey to cyber frauds, recovers Rs 17 lakh 😱😱😱
The fraudsters established communication with the victims, won their trust and defrauded them of lakhs of rupees. Different cases under sections for cheating and under the IT Act have been registered against unknown persons.
The Mumbai Police along with cyber detection officials saved three people from falling prey to cyber attacks.
The fraudsters established communication with the victims, won their trust and defrauded them of lakhs of rupees. Different cases under sections for cheating and under the Information Technology Act have been registered against unknown persons.
A total of Rs 17 lakhs has been frozen by the cyber sleuths, sources told India Today.
$CYBER #Cyber #CyberAttack #CyberSecurity #fraud
The fraudsters established communication with the victims, won their trust and defrauded them of lakhs of rupees. Different cases under sections for cheating and under the IT Act have been registered against unknown persons.
The Mumbai Police along with cyber detection officials saved three people from falling prey to cyber attacks.
The fraudsters established communication with the victims, won their trust and defrauded them of lakhs of rupees. Different cases under sections for cheating and under the Information Technology Act have been registered against unknown persons.
A total of Rs 17 lakhs has been frozen by the cyber sleuths, sources told India Today.
$CYBER #Cyber #CyberAttack #CyberSecurity #fraud
User urged to revoke token allowances for sushiSwap token allocation exploit that drains $3.3M
In the world of cryptocurrency, the decentralized exchange SushiSwap has recently suffered a significant loss of $3.3 million due to an exploit in the allocation of its tokens. This incident has prompted the exchange to advise its users to revoke their token allowances to prevent further losses.
SushiSwap is a decentralized exchange platform that allows users to trade cryptocurrencies in a decentralized manner. One of its unique features is the ability to earn rewards by staking or providing liquidity to the platform. This incentivizes users to hold and use the platform's native token, SUSHI.
However, on April 4th, an unknown attacker was able to exploit a vulnerability in the SushiSwap platform's token allocation mechanism. The attacker was able to drain $3.3 million worth of SUSHI tokens from the exchange's liquidity pools.
The exploit was carried out by manipulating the platform's token allocation function, allowing the attacker to steal the funds without being detected. This type of exploit, known as a "flash loan attack," is becoming increasingly common in the cryptocurrency world.
Following the incident, SushiSwap quickly took action by urging its users to revoke their token allowances. This means that users can prevent their tokens from being used in any future attacks by revoking access to the exchange's liquidity pools.
SushiSwap also announced that it would be taking steps to prevent similar incidents from occurring in the future. The exchange has deployed additional security measures, including an audit of its codebase and the implementation of a new governance system to improve transparency and accountability.
Despite the incident, SushiSwap's community remains optimistic about the platform's future. Many users have expressed their support for the exchange and its efforts to address the issue. The platform has also seen a surge in activity, with its daily trading volume reaching an all-time high of $2.5 billion just a day after the attack.
In conclusion, the exploit in the allocation of SushiSwap tokens highlights the importance of robust security measures in the cryptocurrency world. SushiSwap's quick response to the incident and its commitment to improving its security measures demonstrate the resilience of the cryptocurrency community in the face of such challenges. As the cryptocurrency world continues to evolve, it is essential for exchanges and platforms to remain vigilant and proactive in safeguarding their users' assets.
#sushiswap #exploit #hackers #fraud #cybersecurity
SushiSwap is a decentralized exchange platform that allows users to trade cryptocurrencies in a decentralized manner. One of its unique features is the ability to earn rewards by staking or providing liquidity to the platform. This incentivizes users to hold and use the platform's native token, SUSHI.
However, on April 4th, an unknown attacker was able to exploit a vulnerability in the SushiSwap platform's token allocation mechanism. The attacker was able to drain $3.3 million worth of SUSHI tokens from the exchange's liquidity pools.
The exploit was carried out by manipulating the platform's token allocation function, allowing the attacker to steal the funds without being detected. This type of exploit, known as a "flash loan attack," is becoming increasingly common in the cryptocurrency world.
Following the incident, SushiSwap quickly took action by urging its users to revoke their token allowances. This means that users can prevent their tokens from being used in any future attacks by revoking access to the exchange's liquidity pools.
SushiSwap also announced that it would be taking steps to prevent similar incidents from occurring in the future. The exchange has deployed additional security measures, including an audit of its codebase and the implementation of a new governance system to improve transparency and accountability.
Despite the incident, SushiSwap's community remains optimistic about the platform's future. Many users have expressed their support for the exchange and its efforts to address the issue. The platform has also seen a surge in activity, with its daily trading volume reaching an all-time high of $2.5 billion just a day after the attack.
In conclusion, the exploit in the allocation of SushiSwap tokens highlights the importance of robust security measures in the cryptocurrency world. SushiSwap's quick response to the incident and its commitment to improving its security measures demonstrate the resilience of the cryptocurrency community in the face of such challenges. As the cryptocurrency world continues to evolve, it is essential for exchanges and platforms to remain vigilant and proactive in safeguarding their users' assets.
#sushiswap #exploit #hackers #fraud #cybersecurity
Kazakhstan Regulator Issues Subpoena to Atomic Wallet Operators
According to Folklog, a media specializing in cryptocurrencies, Kazakhstan's regulator has issued a subpoena to the operator of Atomic Wallet, a cryptocurrency wallet that was recently exposed to hacking attacks. In addition, the regulatory body requested access to the log-in record server of Atomic Wallet users. Previously, Atomic Wallet announced a wallet security issue on the 3rd, and announced that it was estimated that at least $35 million of cryptocurrency was stolen.
The attack was reportedly carried out by the North Korean hacker group Lazarus.
#attack #cryptocurrency #hackers #fraud #attack
According to Folklog, a media specializing in cryptocurrencies, Kazakhstan's regulator has issued a subpoena to the operator of Atomic Wallet, a cryptocurrency wallet that was recently exposed to hacking attacks. In addition, the regulatory body requested access to the log-in record server of Atomic Wallet users. Previously, Atomic Wallet announced a wallet security issue on the 3rd, and announced that it was estimated that at least $35 million of cryptocurrency was stolen.
The attack was reportedly carried out by the North Korean hacker group Lazarus.
#attack #cryptocurrency #hackers #fraud #attack
FTX Hack Mystery Possibly Solved: Trio Accused of Cryptocurrency Exchange Theft
Federal indictment does not name FTX or Sam Bankman-Fried as the victimized company, but Bloomberg reports it was indeed them.
The United States federal government has on Wednesday issued charges against three individuals allegedly involved in a long-standing hacking scheme culminating in the infamous theft of $400 million from FTX, a #cryptocurrency exchange owned by Sam Bankman-Fried, which subsequently collapsed.
In an 18-page indictment filed in a federal court in Washington, prosecutors have accused Robert Powell, Carter Rohn, and Emily Hernandez of conspiring to commit wire fraud and identity theft in the operation of a SIM card swap ring targeting fifty victims from March 2021 to April 2023.
Their most significant heist took place on November 11, 2022, when the trio siphoned off $400 million from an unidentified company. Bloomberg, citing sources familiar with the matter, claims that the company in question was FTX.
Through AT&T networks, they gained access to the cryptocurrency exchange's employees and transferred cryptocurrencies worth hundreds of millions of dollars.
This indictment may finally provide an answer to one of the most significant questions surrounding the FTX scandal: Where did the hundreds of millions of dollars in cryptocurrencies disappear to during the darkest hour of the exchange, right after it filed for bankruptcy protection.
#crypto #fraud
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
The United States federal government has on Wednesday issued charges against three individuals allegedly involved in a long-standing hacking scheme culminating in the infamous theft of $400 million from FTX, a #cryptocurrency exchange owned by Sam Bankman-Fried, which subsequently collapsed.
In an 18-page indictment filed in a federal court in Washington, prosecutors have accused Robert Powell, Carter Rohn, and Emily Hernandez of conspiring to commit wire fraud and identity theft in the operation of a SIM card swap ring targeting fifty victims from March 2021 to April 2023.
Their most significant heist took place on November 11, 2022, when the trio siphoned off $400 million from an unidentified company. Bloomberg, citing sources familiar with the matter, claims that the company in question was FTX.
Through AT&T networks, they gained access to the cryptocurrency exchange's employees and transferred cryptocurrencies worth hundreds of millions of dollars.
This indictment may finally provide an answer to one of the most significant questions surrounding the FTX scandal: Where did the hundreds of millions of dollars in cryptocurrencies disappear to during the darkest hour of the exchange, right after it filed for bankruptcy protection.
#crypto #fraud
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Rise in Cryptocurrency Frauds
The Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, recently highlighted the increasing number of frauds in the cryptocurrency space, which is linked to the historic surge in the price of Bitcoin. Gensler emphasized the risks associated with unethical practices in the crypto world and pointed out the volatile nature of Bitcoin, which can attract speculative investors.
Gensler pointed out the issues in the broader context of the crypto industry, including the dangers arising from inadequate information provided by digital asset intermediaries, which could jeopardize investors.
Year 2023: Record Year for Cryptocurrency Frauds
According to analysis by Chainalysis, frauds became a key factor in cryptocurrency-related crime in 2023, with generated revenues exceeding $4.6 billion. The FBI's report on internet crime shows that there was an increase in losses from crypto investment frauds in the USA to $3.94 billion, representing a 53% increase from the previous year. Investment frauds became the most common type of internet crime in 2023.
Reasons for the Increase in Frauds
The rise in frauds is linked to increasing interest in high-yield investment opportunities during strong market sentiment. Chainalysis research suggests that frauds generate smaller revenues during downturns in the crypto market.
Most Common Types of Fraudulent Schemes
The BBB's 2023 fraud report revealed that scammers come up with innovative methods to deceive investors, with approximately 80% of Americans targeted by crypto and investment frauds in 2022 experiencing financial losses. A significant increase was noted in cases of romance scams, which increased 85 times since 2020.
Pump and dump schemes are unpredictable and utilize new tokens to artificially inflate their prices, enabling fraudsters to make money when prices are at their peak. According to Chainalysis, only a small percentage of the more than 370,000 tokens launched on Ethereum in 2023 achieved significant liquidity.
How to Protect Oneself
The key to protecting oneself from frauds is to be vigilant and informed about potential risks. A proactive approach and caution in trading cryptocurrencies can help minimize the possibility of falling victim to frauds.
Conclusion
The risk of frauds is high in the cryptocurrency world, especially at a time when the market is constantly evolving and attracting new investors. It is important to be aware of potential dangers and take measures to protect your investments.
#crypto #fraud
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Gensler pointed out the issues in the broader context of the crypto industry, including the dangers arising from inadequate information provided by digital asset intermediaries, which could jeopardize investors.
Year 2023: Record Year for Cryptocurrency Frauds
According to analysis by Chainalysis, frauds became a key factor in cryptocurrency-related crime in 2023, with generated revenues exceeding $4.6 billion. The FBI's report on internet crime shows that there was an increase in losses from crypto investment frauds in the USA to $3.94 billion, representing a 53% increase from the previous year. Investment frauds became the most common type of internet crime in 2023.
Reasons for the Increase in Frauds
The rise in frauds is linked to increasing interest in high-yield investment opportunities during strong market sentiment. Chainalysis research suggests that frauds generate smaller revenues during downturns in the crypto market.
Most Common Types of Fraudulent Schemes
The BBB's 2023 fraud report revealed that scammers come up with innovative methods to deceive investors, with approximately 80% of Americans targeted by crypto and investment frauds in 2022 experiencing financial losses. A significant increase was noted in cases of romance scams, which increased 85 times since 2020.
Pump and dump schemes are unpredictable and utilize new tokens to artificially inflate their prices, enabling fraudsters to make money when prices are at their peak. According to Chainalysis, only a small percentage of the more than 370,000 tokens launched on Ethereum in 2023 achieved significant liquidity.
How to Protect Oneself
The key to protecting oneself from frauds is to be vigilant and informed about potential risks. A proactive approach and caution in trading cryptocurrencies can help minimize the possibility of falling victim to frauds.
Conclusion
The risk of frauds is high in the cryptocurrency world, especially at a time when the market is constantly evolving and attracting new investors. It is important to be aware of potential dangers and take measures to protect your investments.
#crypto #fraud
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
$Crypto currency fraud: Assets worth Rs 1 crore of accused frozen, transactions done through 2.5 lakh IDs of one lakh people
Police has taken major action in the case of crypto currency fraud in the state. The SIT formed in this case has frozen assets worth Rs 1 crore of the accused, while preparations are underway to freeze assets worth Rs 5 crore.
Police has taken major action in the case of crypto currency fraud in Himachal Pradesh. The SIT formed in this case has frozen assets worth Rs 1 crore of the accused, while preparations are underway to freeze assets worth Rs 5 crore. Himachal Police Director General Sanjay Kundu said that in the crypto currency fraud case, information about transactions from 2.5 lakh IDs of one lakh people has come to light.
He said that the police is taking action seriously in the matter. After the issue of fraud in the name of crypto currency was raised in Himachal Pradesh Assembly, the government has formed SIT to investigate the matter. Its head is DIG Northern Range Abhishek Dullar, who has experience of working in many big investigation agencies. The SIT has so far arrested two accused, while the search for the main accused is still going on.
Arvind Negi has been given the responsibility of DIG NCB. The state government has given the responsibility of DIG Narcotics Control Bureau in the State Intelligence Department (CID) to Superintendent of Police Arvind Digvijay Negi. He was waiting for appointment to the post of Superintendent of Police, NCB, when the government has given him the responsibility of an even higher post. Chief Secretary Prabodh Saxena has issued its notification.
#fraud #cryptoscam #scam #trending #BinanceSquare
Police has taken major action in the case of crypto currency fraud in the state. The SIT formed in this case has frozen assets worth Rs 1 crore of the accused, while preparations are underway to freeze assets worth Rs 5 crore.
Police has taken major action in the case of crypto currency fraud in Himachal Pradesh. The SIT formed in this case has frozen assets worth Rs 1 crore of the accused, while preparations are underway to freeze assets worth Rs 5 crore. Himachal Police Director General Sanjay Kundu said that in the crypto currency fraud case, information about transactions from 2.5 lakh IDs of one lakh people has come to light.
He said that the police is taking action seriously in the matter. After the issue of fraud in the name of crypto currency was raised in Himachal Pradesh Assembly, the government has formed SIT to investigate the matter. Its head is DIG Northern Range Abhishek Dullar, who has experience of working in many big investigation agencies. The SIT has so far arrested two accused, while the search for the main accused is still going on.
Arvind Negi has been given the responsibility of DIG NCB. The state government has given the responsibility of DIG Narcotics Control Bureau in the State Intelligence Department (CID) to Superintendent of Police Arvind Digvijay Negi. He was waiting for appointment to the post of Superintendent of Police, NCB, when the government has given him the responsibility of an even higher post. Chief Secretary Prabodh Saxena has issued its notification.
#fraud #cryptoscam #scam #trending #BinanceSquare
SEC just voted yes to stop fraud and manipulation on security swaps!!!!!!!
voted yes!!! huge!!!!
ITEM 1: Prohibition Against Fraud, Manipulation, or Deception in Connection with Security-Based Swaps; Prohibition against Undue Influence over Chief Compliance Officers
The Commission will consider whether to adopt rules under the Securities Exchange Act of 1934 (“Exchange Act”) that are designed to prevent fraud, manipulation, and deception in connection with transactions in security-based swaps as well as to prevent the personnel of a security-based swap dealer or major security-based swap participant from taking actions to coerce, mislead, or otherwise interfere with such entity’s chief compliance officer.
of course hester voted no.. she even admitted she was on the hill in 2010 to stop Dodd Frank.. unbelievable.
about to vote...
ITEM 2: Removal of References to Credit Ratings from Regulation M
The Commission will consider whether to adopt rule amendments to Regulation M under the Exchange Act that remove certain existing rule exceptions that reference credit ratings and substitute in their place new exceptions that are based on alternative standards of creditworthiness.
#SEC #solana #fraud #crypto2023
ITEM 1: Prohibition Against Fraud, Manipulation, or Deception in Connection with Security-Based Swaps; Prohibition against Undue Influence over Chief Compliance Officers
The Commission will consider whether to adopt rules under the Securities Exchange Act of 1934 (“Exchange Act”) that are designed to prevent fraud, manipulation, and deception in connection with transactions in security-based swaps as well as to prevent the personnel of a security-based swap dealer or major security-based swap participant from taking actions to coerce, mislead, or otherwise interfere with such entity’s chief compliance officer.
of course hester voted no.. she even admitted she was on the hill in 2010 to stop Dodd Frank.. unbelievable.
about to vote...
ITEM 2: Removal of References to Credit Ratings from Regulation M
The Commission will consider whether to adopt rule amendments to Regulation M under the Exchange Act that remove certain existing rule exceptions that reference credit ratings and substitute in their place new exceptions that are based on alternative standards of creditworthiness.
#SEC #solana #fraud #crypto2023
Ways to Earn Cryptocurrencies
Because of the popularity of cryptocurrencies, many people are looking for ways to get free cryptocurrencies. Here are few ways to earn #cryptocurrencies without investing your own money, including crypto faucets, #airdrops, #staking and bug bounties.
There are some common risks to consider when earning free cryptocurrency, including security risks and #fraud , limited revenue opportunities, time-consuming activities, and potential legal or tax implications. It is important to do research and approach these methods with caution
FAUCETS
A crypto faucet is a website or application that offers small amounts of cryptocurrency when users solve CAPTCHA puzzles or watch advertisements. An example is Moon Litecoin, which offers free Litecoin
LTC.For users completing tasks such as streaming videos. Moon Litecoin rewards will be credited to Coinpot.co users' microwallets.
Unfortunately, there are many rogue cryptocurrencyfaucets that promise great rewards but do not actually pay off. Some require you to pay a fee or complete a certain number of tasks before you can withdraw your earnings, while others simply disappear without warning. Therefore, it is important to treat cryptofaucets with caution and do thorough research before using them
AIRDROPS
An airdrop is a free distribution of cryptocurrencytokens or coins. Companies and projects distribute a certain number of tokens to people who have registered on the platform, performed certain actions, or met certain requirements
STAKING
Staking is holding a certain number of cryptocurrencytokens in a wallet or exchange to secure the network and earn rewards. Can use cryptocurrencies such as Cardano
Earn staking rewards using ADA, Polkadot DOT and Ethereuem ETH.
However, staking means that funds are locked for a period of time during which they cannot be accessed or traded. So make sure you understand the risks and potential benefits before you start staking.
REFERAL PROGRAMS
Many cryptocurrency exchanges and wallets offer referral programs that pay rewards for consumers who invite friends and family to join their platform. Can be rewarded with free cryptocurrency or a portion of the user's transaction fees. For example #Binance offers this program, when you refer your friends or family, upon completing certain task you get certain amount in BUSDs.
SURVEYS
There are many websites and apps offer users the opportunity to earn cryptocurrency rewards by completing simple surveys or participating in market research. Sites like Swagbucks offer cryptocurrencyrewards for completing tasks such as watching videos, answering surveys, and playing games. However, you should exercise caution when conducting activities on such websites.
BUG BOUNTIES
If you are a developer, this is for you. Crypto projects and exchanges often offer bug bounties to motivate developers and security researchers to identify and report vulnerabilities in their software. These rewards come in the form of cryptocurrency rewards and range from hundreds to tens of thousands of dollars depending on the severity of the bug.
So they are various ways through them you can earn #crypto2023 with 0 investment.
Stay tuned for upcoming articles which will describe about trading strategies and ways to invest and find good projects. #dyor
#BinanceFeed
There are some common risks to consider when earning free cryptocurrency, including security risks and #fraud , limited revenue opportunities, time-consuming activities, and potential legal or tax implications. It is important to do research and approach these methods with caution
FAUCETS
A crypto faucet is a website or application that offers small amounts of cryptocurrency when users solve CAPTCHA puzzles or watch advertisements. An example is Moon Litecoin, which offers free Litecoin
LTC.For users completing tasks such as streaming videos. Moon Litecoin rewards will be credited to Coinpot.co users' microwallets.
Unfortunately, there are many rogue cryptocurrencyfaucets that promise great rewards but do not actually pay off. Some require you to pay a fee or complete a certain number of tasks before you can withdraw your earnings, while others simply disappear without warning. Therefore, it is important to treat cryptofaucets with caution and do thorough research before using them
AIRDROPS
An airdrop is a free distribution of cryptocurrencytokens or coins. Companies and projects distribute a certain number of tokens to people who have registered on the platform, performed certain actions, or met certain requirements
STAKING
Staking is holding a certain number of cryptocurrencytokens in a wallet or exchange to secure the network and earn rewards. Can use cryptocurrencies such as Cardano
Earn staking rewards using ADA, Polkadot DOT and Ethereuem ETH.
However, staking means that funds are locked for a period of time during which they cannot be accessed or traded. So make sure you understand the risks and potential benefits before you start staking.
REFERAL PROGRAMS
Many cryptocurrency exchanges and wallets offer referral programs that pay rewards for consumers who invite friends and family to join their platform. Can be rewarded with free cryptocurrency or a portion of the user's transaction fees. For example #Binance offers this program, when you refer your friends or family, upon completing certain task you get certain amount in BUSDs.
SURVEYS
There are many websites and apps offer users the opportunity to earn cryptocurrency rewards by completing simple surveys or participating in market research. Sites like Swagbucks offer cryptocurrencyrewards for completing tasks such as watching videos, answering surveys, and playing games. However, you should exercise caution when conducting activities on such websites.
BUG BOUNTIES
If you are a developer, this is for you. Crypto projects and exchanges often offer bug bounties to motivate developers and security researchers to identify and report vulnerabilities in their software. These rewards come in the form of cryptocurrency rewards and range from hundreds to tens of thousands of dollars depending on the severity of the bug.
So they are various ways through them you can earn #crypto2023 with 0 investment.
Stay tuned for upcoming articles which will describe about trading strategies and ways to invest and find good projects. #dyor
#BinanceFeed
Estonian Authorities Approve Extradition of Hashflare Defendants
Ivan Turogin and Sergei Potapenko face 18 charges in the United States and long prison terms for allegedly making HashFlare a Ponzi scheme.
Co-founders of the defunct #Bitcoin cloud mining service HashFlare, Ivan Turogin and Sergei Potapenko, are facing renewed efforts for their extradition from Estonia to the United States. Initially stalled by an Estonian appeals court in November, the extradition process has been reinitiated after the Estonian government fulfilled the necessary conditions.
The duo is facing 18 charges in the U.S., including conspiracy, wire fraud, and conspiracy to commit money laundering, with potential prison sentences of up to 20 years each. HashFlare, formerly a prominent cloud miner, is accused of operating as a Ponzi scheme.
Arrested in Estonia in November 2022 following a joint U.S.-Estonian investigation, Turogin and Potapenko successfully challenged their extradition in November. The court ruled that the initial extradition decision didn't adequately consider U.S. detention conditions. They were ordered to receive financial compensation as a result.
However, the Estonian government has now presented evidence assuring that extradition will not disproportionately infringe on the individuals' fundamental rights. This was reported by the Estonian news outlet Postimees.
HashFlare, which amassed $575 million, collapsed in 2019 after facing operational issues since 2018. The U.S. Department of Justice alleges that Turogin and Potapenko misled customers about HashFlare's mining capabilities, lacking the claimed equipment and computing power. The scam reportedly affected "hundreds of thousands" of victims, with the FBI continuing to search for affected parties.
Additionally, the pair is accused of failing to develop a digital bank named Polybius, despite raising $25 million from investors for this purpose.
$BTC
#BTC #fraud #mining
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Co-founders of the defunct #Bitcoin cloud mining service HashFlare, Ivan Turogin and Sergei Potapenko, are facing renewed efforts for their extradition from Estonia to the United States. Initially stalled by an Estonian appeals court in November, the extradition process has been reinitiated after the Estonian government fulfilled the necessary conditions.
The duo is facing 18 charges in the U.S., including conspiracy, wire fraud, and conspiracy to commit money laundering, with potential prison sentences of up to 20 years each. HashFlare, formerly a prominent cloud miner, is accused of operating as a Ponzi scheme.
Arrested in Estonia in November 2022 following a joint U.S.-Estonian investigation, Turogin and Potapenko successfully challenged their extradition in November. The court ruled that the initial extradition decision didn't adequately consider U.S. detention conditions. They were ordered to receive financial compensation as a result.
However, the Estonian government has now presented evidence assuring that extradition will not disproportionately infringe on the individuals' fundamental rights. This was reported by the Estonian news outlet Postimees.
HashFlare, which amassed $575 million, collapsed in 2019 after facing operational issues since 2018. The U.S. Department of Justice alleges that Turogin and Potapenko misled customers about HashFlare's mining capabilities, lacking the claimed equipment and computing power. The scam reportedly affected "hundreds of thousands" of victims, with the FBI continuing to search for affected parties.
Additionally, the pair is accused of failing to develop a digital bank named Polybius, despite raising $25 million from investors for this purpose.
$BTC
#BTC #fraud #mining
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Recently, Ben.eth, the founder of the PSYOP token, has been surrounded by controversy for handling the presale. In a letter sent via NFT, a law firm known as Loevy & Loevy, sent a letter via NFT demanding that Ben.eth refund all presale buyers or face a class-action lawsuit. The letter accuses him of intentionally misleading buyers and reneging on promises. It also warns of potential legal consequences, including wire fraud and treble damages.
#NFT #psyop #token #ETH #fraud
#NFT #psyop #token #ETH #fraud
Terraform Labs co-founder and former Chai Corp. GM were among 8 indicted without detention on charges of fraudulent and illegal transactions under the Capital Markets Act. The Seoul prosecutor's office is leading the case. #Terra #ChaiCorp #fraud #SouthKorea
