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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
UPbit, the South Korean exchange which investigators searched last Friday, says it has conducted an internal audit and cleared itself of fraud.
S. Korea’s Largest Exchange UPbit Runs ‘Internal Audit’, Dispels Fraud Allegations
William Suberg
2018-05-15T14:55:00+01:00
14254
News
Upbit, the leading South Korean crypto exchange, is being investigated by local police and ten investigators for alleged fraud.
S. Korea’s Largest Crypto Exchange Upbit Investigated By Police, Markets React
Marie Huillet
2018-05-11T12:23:00+01:00
47179
News
The National Bank of Dubai is rolling out its ‘Cheque Chain’ system after successful testing, to prevent check-related fraud.
Major UAE Bank Implements Blockchain Tech To Prevent Check Fraud
Helen Partz
2018-04-23T09:18:00+01:00
15661
News
Major crypto industry investors Andreessen Horowitz and Union Square Ventures met with the SEC to discuss the opportunities of token exemption to boost the indu...
Major Crypto Investors Request Token Oversight Exemption In Meeting With SEC
Helen Partz
2018-04-20T02:04:00+01:00
24533
Follow up
When allegations of fraud and money laundering were leveled at Bitfinex, they denied it, but how much of a link was there to start?
Bitfinex in Poland: Were There Money Laundering Links?
Darryn Pollock
2018-04-11T19:30:00+01:00
16320
News
Bitfinex denies involvement in Polish fraud controversy, in which €400 mln were seized from an account allegedly tied to the exchange.
Bitfinex Denies Fraud Allegations Tied To Confiscated Funds In Poland
Marie Huillet
2018-04-09T12:54:00+01:00
16675
News
Prosecutors have allegedly seized €400 mln from a Polish bank, with unconfirmed reports that the confiscated funds have ties with Bitfinex.
Unconfirmed: Polish Prosecutors Seize €400 mln Amid Allegations Bitfinex Is Implicated In Fraud
Marie Huillet
2018-04-07T23:29:00+01:00
47738
News
Infamous Bitcoin evangelist Amit Bhardwaj and his brother were arrested by Indian authorities on charges of scamming investors of $300 mln.
India: Crypto ‘Scamsters’ Bhardwaj Brothers Arrested For Duping Investors Out Of $300 Mln
Helen Partz
2018-04-06T21:20:00+01:00
21519

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