News with the tag "ponzi scheme"

A $198 million crypto fraud empire disguised as AI trading has been unraveled, exposing a luxury-fueled Ponzi scheme that spanned the globe. AI Autotrader or Smoke and Mirrors? The SEC Exposes What PGI Really Was The U.S. Securities and Exchange Commission (SEC) announced on April 22 that it has cha...

Cryptocurrency investors, are you aware of the hidden dangers lurking in the seemingly lucrative world of automated crypto investment platforms? South Korean crypto giant Bithumb has just dropped a bombshell, issuing a stark Bithumb warning to its users about potential Ponzi scheme risks associated ...

A Brazilian citizen appeared in U.S. District Court in Seattle following extradition from Switzerland to face $290 million Bitcoin investment fraud charges. According to the press release from the US Department of Justice, Douver T. Braga pleaded not guilty to a 13-count indictment involving wire fr...

Bybit CEO Ben Zhou said Thursday that his exchange will not list the Pi Network's PI token, which was controversially released on Thursday, citing a Chinese police warning from 2023 that alleged the project was a scam targeting elderly people, leaking their personal information and leading to the lo...

The U.S. Department of Justice (DOJ) says that two Estonian nationals pleaded guilty to operating a massive cryptocurrency Ponzi scheme that defrauded hundreds of thousands of victims from across the globe, including the United States. In a statement, the DOJ says that Sergei Potapenko and Ivan Turõ...

Norway’s National Authority for Investigation and Prosecution of Economic and Environmental Crime, or Økokrim, has charged four men for their alleged involvement in a Ponzi scheme that siphoned millions from victims. In a statement, the Økokrim says the modus swindled NOK 900 million ($80.80 million...

Norwegian authorities have indicted four individuals for their involvement in an extensive fraud and money laundering operation that deceived thousands of victims across multiple countries. Økokrim, Norway’s economic crime unit, revealed that over 900 million kroner ($86–87 million) was funneled int...

Law enforcement authorities in India reportedly seized crypto assets linked to the BitConnect Ponzi scheme that defrauded hundreds of victims before collapsing in 2018. Indian Express reports that the Enforcement Directorate (ED) seized Rs (Indian Rupee) 1,646 crore or nearly $190 million in crypto ...

The Indian Enforcement Directorate of the city of Ahmedabad has seized $190 million worth cryptos tied to BitConnect Ponzi scheme . This marks one of the largest crypto seizures in the country so far. The Directorate investigated the case from Feb. 11 to 15, confiscating digital assets, $15,570 in c...

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...