16.3 C
New York

Tag: Ponzi

The Wuling COVID Testing Cars will be delivered at the end of May

HONG KONG, May 23, 2022 - (ACN Newswire) - On May 13, Guo Yanhong, the supervisor of the Medical Administration and Hospital Authority of the National Health Commission,...

Top News

Degen Who Slammed Terra as ‘Ponzi’ Dares Founder to Bet $1M on LUNA — and He Did

Terra's founder and a leading critic are squaring off with a $1M bet on LUNA.

Top Trader Issues Crypto Warning, Says One of Ethereum’s Biggest Competitors Heading for Severe Correction

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

A closely followed crypt trader is predicting a deep corrective move for one of Ethereum’s most explosive competitors. Pseudonymous trader Light tells his 149,400 Twitter followers that he’s shorting Terra (LUNA) with a price target at $51. He believes the decentralized finance (DeFi) payment network will suffer due to its reliance on the Terra-based stablecoin […]

The post Top Trader Issues Crypto Warning, Says One of Ethereum’s Biggest Competitors Heading for Severe Correction appeared first on The Daily Hodl.

Trio allegedly defrauded $40M with Ponzi-style crypto trading operations

The DoJ has charged three crypto trading company owners with defrauding investors out of more than $40 million in Bitcoin and cash.

The post Trio allegedly defrauded $40M with Ponzi-style crypto trading operations appeared first on Protos.

CFTC Charges 4 in Crypto Ponzi Scheme as Questions Swirl Over Jurisdiction

CFTC Commodity Futures Trading Commission

The case has attorneys puzzled over which US agency has jurisdiction

The post CFTC Charges 4 in Crypto Ponzi Scheme as Questions Swirl Over Jurisdiction appeared first on Blockworks.

Bitcoin, The People And The Tragedy Of Afghanistan

The U.S. withdrawal from Afghanistan and its decision to seize the country’s assets demonstrates the importance of bitcoin as a sovereign asset.

ETH Gas Fees Drop to August 2021 Lows

March 9, 2022       /       Unchained Daily       /       Laura Shin Daily Bits ✍️✍️✍️ The SEC is charging John and JonAntina Barksdale, who launched a[...]

The post ETH Gas Fees Drop to August 2021 Lows appeared first on Unchained Podcast.

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

DOJ Charges Siblings With Alleged $124M Crypto Fraud “Ormeus Coin”

crypto fraud

The Department of Justice (DOJ) on Tuesday charged John and Tina Barksdale, two Texas residents, for securities fraud, wire fraud, and conspiracy to commit both. The two siblings are accused of operating a crypto fraud known as “Ormeus Coin.” The Barksdales lied about Ormeus Coin obtaining a $250 million mining operation and collecting more than $5 million in revenue each month, according to the DOJ. The currency, on the other hand, has never reached that level of value per the release. The U.S. Attorney for the Southern District of New York, Damian Williams, said in a statement that John Barksdale ran a fraud to sell Ormeus Coin to investors around the globe through a web of lies that he spread through in-person roadshows, social media and even a jumbotron in Times Square. The allegations stem from a period beginning in June 2017 and culminating in January 2018, when Ormeus Coin’s market capitalization reached approximately $52 million. According to the SEC’s release, Barksdales dishonestly obtained more than $124 million through the alleged fraudulent Ormeus Coin cryptocurrency scheme. The Barksdales face a maximum term of 20 years in prison for each count of securities fraud, wire fraud, and conspiracy to commit crypto fraud. Rise In Protocol Exploits And Crypto Fraud In 2022 Hacks, rug-pulls, and security breaches are all frequent in the digital assets world. According to decentralized finance security platform and bug bounty program Immunefi, cybercrime losses reached $10.2 billion in 2021. There have already been several reports of crypto-related misconduct this year. Last month, a US grand jury indicted Satish Kumbhani, the creator of BitConnect, on charges that he operated a worldwide Ponzi scheme and fraudulently acquired more than $2.4 billion from investors in an illegal cryptocurrency investment platform. In late Jan., hackers were able to access and steal over $80 million from Qubit Finance, a firm based on the Binance Smart Chain. In February, the Wormhole token bridge was targeted by hackers, resulting in the loss of 120,000 Wrapped Ether (wETH) tokens ($321 million). Following a security breach on Jan. 17, nearly $34 million in cryptocurrency were stolen from Crypto.com.

The post DOJ Charges Siblings With Alleged $124M Crypto Fraud “Ormeus Coin” appeared first on Cryptoknowmics-Crypto News and Media Platform.

European VP of Operations at SafeMoon, Charles Karony, Leaves The Project

SafeMoon Charles Karony

Announcing his departure from the cryptocurrency project, The European Vice President of Operations at SafeMoon, Charles Karony, has decided to step down from his role in a bid to return to college and complete his degree. The project’s recent success and the efforts of the whole SafeMoon team and the millions of people who have contributed to the cryptocurrency’s growth were honored in a series of Twitter postings made today by Karony. What is SafeMoon? SafeMoon, one of the more recent cryptocurrencies to enter the market in the previous year, garnered a great deal of interest, drawing a large number of investors who put their money on the line for the project. SafeMoon is a BEP-20 token created by a group of six individuals and released on the Binance Smart Chain (BSC), a centralized ecosystem and a rival to Ethereum’s decentralized ecosystem. Developers of SafeMoon say the project was created to encourage long-term investment and the token’s tagline was “Safely to the Moon.” The project also hired well-known celebrities to increase investor interest and boost the number of investors that joined, which led to a 20,000% increase in the price of the altcoin. SafeMoon is currently facing a class-action lawsuit on the grounds of the altcoin being a pump and dump scheme. It was also referred to as a Ponzi scheme by some crypto experts, as the 10% transaction fee for purchasing tokens goes back to its earlier investors. Speculations Around SafeMoon and Charles Karony While stepping down from his position, Karony reiterated his commitment to the project. Although he’s going to college, there have been speculations that Karony is leaving the project as a consequence of the current class-action lawsuit, however, this has not been confirmed. SafeMoon peaked at a price of $0.000012 in April of last year and is currently trading at $0.0000005106.

The post European VP of Operations at SafeMoon, Charles Karony, Leaves The Project appeared first on Cryptoknowmics-Crypto News and Media Platform.

SafeMoon Review: Ponzi Scheme or Legitimate Project?

SafeMoon is one of the newest and fastest-growing altcoins, even in the crazy cryptocurrency market that’s seen a good number of tokens increase in value by thousands or even tens of thousands of percent in 2021. Launched on March 8, 2021, it is a BEP20 token that exists on the Binance Smart Chain. It’s also […]

The post SafeMoon Review: Ponzi Scheme or Legitimate Project? appeared first on Coin Bureau.

Founder of Crypto Enterprise Bit Connect Charged with Fraud

Satish Kumbhani – the founder of cryptocurrency investment company Bit Connect – has been charged with conspiracy to commit wire fraud and conspiracy to commit commodity price manipulation amongst other crimes. Bit Connect Is Facing the Call of Justice Bit Connect is believed to have been at the forefront of a $2.4 billion crypto Ponzi...

The post Founder of Crypto Enterprise Bit Connect Charged with Fraud appeared first on Live Bitcoin News.

BitConnect Mastermind Indicted for $2.4 Billion Scam – But Authorities Can’t Find Him

Satish Kumbhani, the founder of BitConnect, thought to be the biggest crypto-related Ponzi scheme of all time, is nowhere to be found. Kumbhani, an Indian citizen, was indicted last week for misleading US investors about BitConnect’s purported “Lending Program.” “As alleged in the indictment, however, BitConnect operated as a Ponzi scheme by paying earlier BitConnect […]

The post BitConnect Mastermind Indicted for $2.4 Billion Scam – But Authorities Can’t Find Him appeared first on Coin Bureau.

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

Recent articles

spot_img