News with the tag "crypto ponzi scheme"

US authorities in the state of Nevada have accused Las Vegas business owner Brent C. Kovar of allegedly running a million-dollar cryptocurrency Ponzi scheme. If found guilty, Kovar faces a long prison term with a fine of $4.5 million. US Government Vs. Brent C. Kovar In a press release on February 1...

The CFTC has accused a pastor of promoting a crypto scheme to churchgoers, which it alleged promised guaranteed returns of nearly 35%.

David Carmona, founder of the cryptocurrency Ponzi scheme IcomTech, has received a 10-year prison sentence following a court ruling in the last week. This development was revealed on October 4 by the US Attorney’s Office, Southern District of New York. Related Reading: Ripple CTO Sounds Alarm: New F...

A recent Chainalysis report revealed that crypto scammers have updated their scheme tactics on- and off-chain in 2024. Criminals have leaned toward short-term, more lucrative scrams targeting smaller entities and specific individuals, significantly reducing scams’ average lifespan by over 50% since ...

With the increasing popularity of cryptocurrency trading, the number of crypto scams is also rising. Crypto users who are either new to the industry or who are hunting for shortcuts have become the victims of frauds like crypto Ponzi schemes, pig butchering, and many others. One example is the forme...

The SEC has accused the two brothers of using investor money to fund lavish lifestyles, including the purchase of cars and a multimillion-dollar condominium.

South Korean authorities have arrested and indicted the CEO of a tech firm and his accomplice for fraud. The two men are suspected of orchestrating a crypto scheme of over 500 billion won that took advantage of elderly people with false promises of massive returns. The scam is estimated to have over...

Ruja Ignatova disappeared seven years ago after a warrant from US authorities was issued to arrest her. The self-proclaimed “Crypto Queen” was responsible for OneCoin’s Ponzi scheme that took $4.5 billion from investors. Now, a BBC investigation suspects that the missing crypto scammer could have be...

On Thursday, Turkey’s Minister of Interior revealed authorities conducted a major operation against a crypto scamming platform in Ankara. The alleged Ponzi scheme has stolen over $1 billion in the last few years. Related Reading: Swipe Right For Scams? Canadian Authorities Warn Of Rising Crypto Frau...

Lilian Nurieva, former Head of Networks at Russian crypto Investment fund Finiko, has been sentenced to three years for defrauding private investors and participating in an organized criminal group. The $55 million pyramidal scheme is considered the second-largest financial scam in Russia’s post-Sov...