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Fraud News

Cryptocurrencies promise a lot of security and privacy for the users, but reality is that cryptocurrency use often creates victims of different types of scams, such as digital theft, hacking, phishing and the major cryptocurrency scam – fraud. These frauds can exist in different forms – promising, but fraudulent, ICO’s that don’t inform their investors about the risks and might not have a physical address; cryptocurrency investment platforms that vanish after gathering enough money; and fraudulent cryptocurrency exchanges that utilize multiple tactics to cheat their users. Blockchain technologies are relatively new and the hype that surrounds them poached a lot of low-skilled investors into the field. This has become such a problem that, according to the latest news on cryptocurrency fraud, Twitter has even banned ICO-ads in order to protect its users from fraudulent schemes.

News
A social media account for the People’s Bank of China is warning citizens against illegal fundraising schemes that involve virtual currencies and blockchain.
Shanghai PBoC Warns Chinese Public Against Blockchain Investment Schemes
Andrey Shevchenko
2020-05-12T15:29:00+01:00
6644
News
Belgium’s economic inspectorate reported $3.2 million in losses due to cryptocurrency fraud in 2019.
Belgium Losing $3.2M to Crypto Fraud in 2019 Is ‘Tip of the Iceberg’
Helen Partz
2020-05-08T16:21:00+01:00
7655
Analysis
After a meteoric rise, DeFi has suffered several high-profile setbacks. The question is not about whether it will recover, but what needs to be done to ensure r...
DeFi’s Recent, Costly Setbacks Serve as Lessons for the Sector
Nikolai Kuznetsov
2020-05-07T16:59:00+01:00
14083
News
U.S. and Israel-based firms were charged for promoting fake investment schemes and defrauding customers of $15 million.
CFTC Charges Multiple Firms for $15 Million Crypto and Binary Options Scam
Mohammad Musharraf
2020-05-07T10:35:00+01:00
4634
News
Fernando Carrillo is looking for opportunities in the crypto sphere after a long-time career acting in TV and film.
Famous Venezuelan Entertainer Quits Acting to Lead Controversial Crypto Startup
Felipe Erazo
2020-04-30T23:00:00+01:00
4794
News
A cryptocurrency investment management company allegedly lured investors into a fraudulent fund, using the capital for personal gain, according to new complaint...
Crypto Fund Manager Sued Over Alleged Fraud and Deception
Benjamin Pirus
2020-04-28T22:26:06+01:00
5194
News
An ICO digital ads startup is going through hard times as its two co-founders confess to having created a clone of their own company that sold the same products...
Co-founders of ICO Startup Admit to Stealing Business From Their Own Company
Andrey Shevchenko
2020-04-24T17:01:00+01:00
6499
News
A community site set up to combat XRP fraud claims holders have lost 8.5 million tokens to fake airdrops and YouTube giveaway scams since 2019.
Community Fraud Site Tracks 8.5M XRP Lost to Giveaway Scams
Turner Wright
2020-04-24T03:22:00+01:00
5514

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