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SEC Freezes Accounts Of Veritaseum And Its Founder Reggie Middleton
Crime   |   14.08.19  |  

According to a lawsuit filed on Monday, Middleton conducted a fraudulent and illegal ICO in 2017 and subsequently manipulated the value of tokens The US Securities and Exchange Commission (SEC) has received a temporary restraining order to freeze the assets of Reggie MIDDLETON and ICO Veritaseum (VERI) which was ...

Warning: IRS Scammers Now Targeting Victims with Bitcoin Tax Letters
Crime   |   06.08.19  |  

In the wake of legitimate IRS letters to US taxpayers trading cryptocurrencies, there were a few instances recorded of fraudsters trying to take advantage of the situation In the wake of legitimate IRS letters to US taxpayers trading cryptocurrencies, there were a few instances recorded of fraudsters trying to take advantage of the situation. Dozens of US citizens have ...

South Africa Suffers From New Crypto Ponzi Schemes
Africa   |   10.07.19  |  

The educational programs in Africa should be popularized even more, because of fraud and scams following the path of technological growth amid regulatory uncertainty Recently, we paid attention to Africa as a promising place for blockchain and crypto development, due to the educational activities led by companies and enthusiastic ...

GM Funds Spring Labs Blockchain Startup
Innovations   |   13.06.19  |  

... General Motors (GM) is spotted among the investors for this seed A funding round. It is expected that Spring Labs will use the funds to improve its blockchain-based platform Spring Protocol and develop three new products that are designed to combat fraud in the auto financing sector. According to the press release of the company, the new products are Spring Verify, Spring Defense, and Spring Protect, which are aimed at identity verification, fraud monitoring/mitigation, and loan stacking prevention,...

Scammers Discovered Vulnerability In the Augur Betting System
Crime   |   21.03.19  |  

Reddit users claim that the fraudsters exploit the vulnerability. Augur CEO announces that the team has found a solution The Augur system has a vulnerability in the betting system, which was revealed recently but cannot be fixed until the launch of Augur v.2. Reddit users claim ...

Coinbin Exchange Files For Bankruptcy: More Than $26 Mln Embezzled
Exchanges   |   25.02.19  |  

Coinbin CEO Park Chang-kyu announced the bad news, but according to him, the reason behind this decision is a waste of funds committed by an employee South Korean cryptocurrency exchange Coinbin has filed for bankruptcy after a loss of about $26 mln, Business Korea reports . Coinbin crypto exchange has become the owner and the successor of the notoriously known Youbit exchange, which is twice-hacked in 2017. Now it seems that the same fate awaits Coinbin, as it happened with the predecessor. Coinbin...

FraudICO International Social and Legal Project

The new platform will bring together investors who are faced with ICO scams and frauds and are seeking legal support to get their funds back It is so common that investors, fallen for a fraudulent project, do not have any knowledge or resources to get a refund. Fraudico Ltd has launched a unique fraudico.io project - a platform ...

Why QuadrigaCX’s Cold Wallet Reserves Haven’t Been Identified Yet
Guest-posts   |   11.02.19  |  

QuadrigaCX went offline with $190M gone after the purported founder’s death; people have declared it to be an exit scam or fraud. Paul Sibenik investigates the case Since QuadrigaCX went offline late last month due to not being able access $190M in cold storage reserves after the purported founders death, many people have declared it to be an exit scam or fraud. QuadrigaCX ...

Italian Crypto Fraudsters Use the Central Bank Logo In Social Networks
Crime   |   01.02.19  |  

... authorities According to unofficial estimates, in Italy alone, the annual turnover of cryptocurrencies by social network scammers is 3 bln euros. Organized crime stands behind the numerous accounts of self-styled financial structures. The philosophy of the fraudsters is simple: it is much easier and more profitable to steal money in the virtual space than to rob a man with a firearm on a high road. Neapolitan media Il Mattino reports that an anonymous website, positioning itself as a platform for investment ...

16 FinTech Companies Formed A Consortium To Oppose Fraud
Innovations   |   22.01.19  |  

... Funding Circle credit platforms, announced the partnership with Spring Labs startup to create a consortium. The aim of the partnership is “secure and regulatorily compliant way to leverage data to solve pressing problems related to ID verification and fraud within their respective sectors," — is claimed in a press release . Getting a loan includes a lot of paperwork and the scoring of borrowers. Most of the fraudulent activities are related to documents’ falsification, creation of fake profiles,...


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