Ripple CEO Brad Garlinghouse has voiced concern over the widespread circulation of deepfake scams on YouTube and the X (formerly Twitter) platform.
Read more on: https://thecryptobasic.com/2024/01/11/ripple-ceo-slams-youtube-and-x-for-displaying-fake-xrp-ads/
#RippleUpdate #XRPScamAlert #cryptocurrecny #CryptoScamExposed #CryptoNews🔒📰🚫

Evorich Ponzi founder Andrey Khovratov has been sentenced to five years in prison. Prosecutors had asked the court for a six year sentence.Following his arrest attempting to flee Russia in early 2022, Khovratov was charged with five counts of participating in fraud via organized crime.As per a January 23rd press-release from the Presnesnky Prosecutor’s Office, the Moscow court based Khovratov’s guilty verdict on EvoRich being a Ponzi scheme. Khovratov, being the general director of Academy of Private Investor LLC, together with an accomplice who is on the wanted list and other unidentified persons, created a website accessible to an unlimited number of people, informing that anyone can become a co-owner, shareholder, shareholder, shareholder of the global an investment fund operating in all segments and sectors of the investment market.The accomplices misled users of the Internet resource by providing deliberately false information that the investments would make it possible to implement the program of the New Economic Evolution of the World, created by Khovratov, and to receive high investment income.In order to make a profit, the misled victims purchased cryptocurrency from the defendants, transferring funds to accounts controlled by them.The members of the organized group distributed the funds received from the victims among themselves, evading their obligations to pay dividend income from investing in cryptocurrency, as well as to return the funds.An unnamed accomplice of Khovratov’s remains wanted by Russian authorities.#Evorich #ponzischeme #mlm #pyramidscheme #CryptoScamExposed

The Austrian Supreme Court has ruled that Lyoness’ affiliate contract and compensation plan are illegal.The decision follows legal action taken by the Austrian Association for Consumer Information (VKI). In Austria’s lower courts, VKI argued47 contractual clauses that were part of Lyconet agreements and so-called Lyconet compensation plans … (lacked) transparent regulations and … clarity.VKI’s lawsuit was decided in its favor. The Supreme Court’s ruling reaffirms earlier rulings and is final.As per a January 11th press-release from VKI, specific Lyoness agreement clauses they took issue with were 3-2019, 9-2019 and 1-2021. Compensation clauses include 3-2019, 9-2019 and 1-2021.A large number of the contested clauses were found by the courts to be non-transparent. For example, terms such as “Bonus Units”, “Customer Units”, “Follow-up Units”, “Transfer Units”, “Lifeline”, “Upline”, “Balance Program”, “Career Program”, “Balance Category”, and “Balance Commission” were used, but their specific meaning remained unclear.The first court already stated that these are not terms of general language use and that they are in themselves incomprehensible without further context.They are also not explained sufficiently clearly throughout Lyconet’s rules and regulations.The appeal court added that even after intensive study of the entire set of regulations, it remains completely unclear for average consumers when and to what extent they acquire rights to which remuneration.The Supreme Court has now confirmed this view.As per the Supreme Court’s decision;Affected Lyconet contracts are invalid and consumers can demand a full refund of the payments they have made.Lyoness, aka Lyconet, Cashback World and myWorld, is owned and operated by Austrian national Hubert Freidl (below).Austrian courts previously finding Lyoness to be a pyramid scheme. A related January 11th article from ORF, the Austrian Broadcasting Corporation, cited “over 400 court cases” in Austria alone.Despite this, Freidl is still a free man.Freidl had Lyoness declare bankruptcy in Europe last November. According to filings Lyoness is $110 million in debt. Whether this was a ploy to avoid paying out victims and/or evading criminal proceedings is unclear. Freidl abandoned his FaceBook profile in July 2023. November 2023 posts on Freidl’s Instagram page reveal attempts at marketing Lyoness across Asia, specifically Malaysia.#CryptoScamAwareness #Lyoness #Lyconet #ponzischeme #CryptoScamExposed

Some top earners at least pretend to be remorseful about the millions they stole through OneCoin.Then there’s Kari Wahlroos, who in an upcoming documentary tells OneCoin victims to “kiss my ass”.Wahlroos, a Finnish national who describes himself as “one of the grandmaster orchestrators” of OneCoin, is set to feature in “OneCoin – The inside man”.Wahlroos was appointed an “ambassador” of OneCoin in 2015. He was demoted in December 2017, eleven months after OneCoin collapsed.Wahlroos didn’t disclose why he was demoted. OneCoin however put out an official statement, claiming Wahlroos had made consistent miscommunication and misrepresentation(s)”.Due to consistent miscommunication and misrepresentation of the OneLife Network operations and strategy, the management team of OneLife has taken the unfortunate decision to demote Mr. Wahlroos from all his activities and responsibilities for the Network.The company has experienced serious legal consequences, following Mr. Wahlroos’ behavior on and off stage, indirectly damaging its credibility and reputation.In a January 15th OneCoin – The Insider Man trailer, Wahlroos provides insight into his time at OneCoin.Personally I recall rumors of Wahlroos’ substance abuse dating back to as long as he’d been with OneCoin. For the first time Wahlroos himself publicly confirms the rumors.Did I drink alcohol? Yes, every day.Did I use coke? Tons of it.On the money side of things, Wahlroos claims he received 2% of OneCoin investment throughout Europe.Finland was making €5 million a month, I get two percent. Germany was making €10 million a month, I get two percent. Russia was making €2 million a month, I get my two percent.And after a few months we were in €200 million a month. Kiss my ass.Wahlroos claims that, in OneCoin’s best year, he generated €1.4 billion in stolen funds. 2% of this amount comes to €28 million.While acknowledging that only “very few people” made money, Wahlroos states anyone who “wasn’t making €100 thousand a month” in OneCoin was a “fucking idiot”.Wahlroos’ depiction of OneCoin’s top earners is a sad group of middle-aged men preying on young women in Thailand.(OneCoin’s) top 20 leaders were invited to a special gentlemen’s club. With these Thai girls, with these sex parties.Sebastian (Greenwood) takes a girl and goes fuck her. (He) comes back and takes another one. He was using his money and power to seduce girls.Greenwood (in the grey suit), co-founder of OneCoin with Ruja Ignatova (pink dress), was sentenced to twenty years in prison in September 2023.Circumstances are unclear but Wahlroos goes on to claim whoever is left running OneCoin, at some point tried to assassinate him.I felt the numbness and dizziness coming into my face. They tried to fucking kill me.OneCoin has noted ties to organized crime interests in Bulgaria, Russia and Dubai.Laundering money stolen through OneCoin was a large coordinated effort spanning multiple countries. According to Wahlroos, OneCoin’s operations in China resulted in “a lot” of deaths.China began cracking down on OneCoin in 2016. As of May 2018, around 160 OneCoin related arrests had been made. As part of their investigations, Chinese authorities also managed to seize $7.1 million belonging to Greenwood.US authorities have pegged OneCoin losses at around €4 billion euros. Wahlroos pegs total OneCoin losses closer to €14 to €15 billion.That Wahlroos and other OneCoin top earners have faced no repercussions, is an ongoing indictment of Europe’s inability and/or unwillingness to hold those responsible for OneCoin accountable.Today Wahlroos is promoting Global NFT Group, a Ponzi scheme built around PNGVN tokens and an NFT grift.OneCoin – The inside man is being produced by Orlando John, a film production company based out of Sweden. No release date has been set.#onecoin #onecoinmultiplechains #CryptoScamExposed #Ponzi #CryptoScamAwareness