Crypto frauds drops by 65% as newbies leave market: Chainalysis
According to a new crypto crime study, fewer people have been scammed by bitcoin so far in 2022 as a result of dropping asset values and novice cryptocurrency users leaving the industry. The total revenue generated by crypto scams year to date is currently estimated to be $1.6 billion, according to a Chainalysis report published […]
Crypto Scam: Kenyans Lose Millions Of Dollars To Ponzi Scheme, Bitstream Circle
More than $10 million in investor monies were allegedly taken by the brains behind the suspected cryptocurrency Ponzi scheme known as Bitstream Circle. On March 13, 2022, some of the scheme’s investors began experiencing withdrawal issues, which is when the alleged theft was discovered. Withdrawals Blocked Investors in an alleged crypto Ponzi scheme, Bitstream Circle, […]
AriseCoin inventor goes to prison for involvement in crypto scam
AriseCoin inventor, Jared Rice, Sr., has been sentenced to five years in federal prison by Texas authorities. Aside from the jail time, he would have to repay $4.2M to investors who were defrauded through his crypto scheme. According to a news release issued by the US Department of Justice, Jared Rice, Sr. will be imprisoned […]
FBI joins probe into South African Mirror Trading International
The Federal Bureau of Investigation (FBI) is joining the investigation of South African company Mirror Trading International which was involved in one of the largest alleged crypto scams of 2020. The US Federal Bureau of Investigation is now investigating the South African company Mirror Trading International (MTI), widely regarded as last year’s most heinous Bitcoin […]