Latest News and Articles about Crypto Fraud
Russian Embassy Seeks Updates on WEX CEO Vasiliev in US Crypto Fraud Case
Russian Embassy Demands Answers on WEX CEO Dmitry Vasiliev as Crypto Fraud Case Unfolds The legal quagmire surrounding Dmitry Vasiliev, former CEO of the collapsed cryptocurrency exchange WEX, has escalated with the Russian Embassy in Washington DC pressing the US State Department for updates on his status. Extradited from Poland to the US in late […]
Read MoreLondon Crypto Scammers Jailed for $2M Bitcoin Fraud: FCA Cracks Down
Crypto Fraud Exposed: London Scammers Jailed for $2M Bitcoin Scam Two Greater London residents, Raymondip Bedi and Patrick Mavanga, have been sentenced to a combined 12 years in prison for masterminding a cryptocurrency scam that fleeced at least 65 investors out of $2.1 million (£1.54 million). Running their operation between 2017 and 2019, a peak […]
Read MoreSeven Chinese Nationals Jailed in Nigeria for Cyberterrorism and Crypto Fraud
Seven Chinese Nationals Jailed in Nigeria for Cyberterrorism and Crypto Fraud A significant crackdown on international cybercrime unfolded in Lagos, Nigeria, as a federal high court sentenced seven Chinese nationals to prison for orchestrating a sophisticated network of internet fraud and cyberterrorism. Tied to romance scams and fraudulent cryptocurrency schemes, this case lays bare the […]
Read MoreAlex Mashinsky Waives Bankruptcy Rights: A Win for Celsius Creditors or Hollow Gesture?
Former Celsius CEO Alex Mashinsky Waives Bankruptcy Rights: Accountability or Empty Gesture in Crypto Fraud Case? A stunning turn in the Celsius Network saga has former CEO Alex Mashinsky waiving his rights to bankruptcy distributions, as filed with the U.S. Bankruptcy Court for the Southern District of New York. Alongside three related entities—AM Ventures Holdings […]
Read MoreCrypto Startup Founder Faces 82 Years for $1M Fraud: A Cautionary Tale
Crypto Startup Founder Charged with $1 Million Fraud: A Warning to Investors Jeremy Jordan-Jones, the founder of the now-defunct crypto startup Amalgam, faces charges for allegedly defrauding investors out of over $1 million in a scheme that highlights the risks in the crypto space. Jeremy Jordan-Jones charged with defrauding investors of over $1 million. Amalgam […]
Read MoreSEC Charges Unicoin in $110M Fraud: Asset-Backed Token Claims Debunked
SEC Uncovers $110M Crypto Scandal: Unicoin’s Asset-Backed Claims Fall Apart The U.S. Securities and Exchange Commission (SEC) has charged New York-based Unicoin and its executives with orchestrating a $110 million fraud, misleading over 5,000 investors. The case highlights the perils of false promises in the crypto world, particularly around asset-backed tokens. SEC charges Unicoin and […]
Read MoreAlex Mashinsky Sentenced to 12 Years for Celsius Network Crypto Fraud
Alex Mashinsky Receives 12-Year Sentence for Celsius Network Crypto Fraud Scandal – Mashinsky sentenced to 12 years for fraud – Celsius Network collapsed in June 2022 due to a $1 billion shortfall – Case highlights the need for crypto regulation Alex Mashinsky, the mastermind behind Celsius Network, has been handed a 12-year prison sentence for […]
Read MoreAlex Mashinsky Sentenced to 12 Years for $7B Celsius Crypto Fraud
Celsius Network’s Alex Mashinsky Sentenced to 12 Years for Crypto Fraud Alex Mashinsky, the founder of Celsius Network, has been sentenced to 12 years in prison for defrauding investors, marking a significant moment in the crypto lending sector that led to over $7 billion in losses. Alex Mashinsky sentenced to 12 years for defrauding investors. […]
Read MoreCelsius Founder Mashinsky’s Defense Calls 20-Year Sentence Request “Death-in-Prison
Celsius Founder Mashinsky’s Defense Slams DOJ’s 20-Year Sentence Request as “Death-in-Prison” The legal battle surrounding Alex Mashinsky, the former CEO of Celsius Network, has intensified with his defense team strongly opposing the U.S. Department of Justice’s request for a 20-year prison sentence, labeling it a “death-in-prison sentence” for a non-violent, first-time offender. U.S. prosecutors seek […]
Read MoreBen McKenzie’s Documentary Unveils Crypto Fraud at SXSW London
Ben McKenzie’s New Documentary Exposes Crypto Fraud: ‘Everybody Is Lying to You for Money’ Premieres at SXSW London Can a Hollywood actor uncover the dark side of cryptocurrency? Ben McKenzie, known for his roles in “Gotham” and “The O.C.,” believes so. He’s directing a new documentary titled “Everybody Is Lying to You for Money,” which […]
Read MoreCelsius Founder Alex Mashinsky Faces 20-Year Sentence for $25B Crypto Fraud
Celsius Network Founder Alex Mashinsky Faces 20-Year Sentence for Multi-Billion Dollar Crypto Fraud U.S. prosecutors are pushing for a 20-year prison sentence for Alex Mashinsky, the founder of Celsius Network, in a case that highlights one of the largest frauds in the cryptocurrency industry. This case serves as a stark reminder of the risks and […]
Read MoreSEC Charges Ramil Palafox in $198M Crypto Ponzi Scheme: A Wake-Up Call for Investors
SEC Charges Ramil Palafox in $198 Million Crypto Ponzi Scheme Scandal Investors beware: Ramil Palafox, the founder of PGI Global, has been charged by the U.S. Securities and Exchange Commission (SEC) for orchestrating a massive $198 million Ponzi scheme. This case serves as a harsh reminder of the potential for fraud within the crypto space, […]
Read MoreIllinois Advances Crypto Fraud Bill: Senate Bill 1797 Moves Forward
Illinois State Senator Mark Walker’s Crypto Fraud Bill Advances Illinois State Senator Mark Walker’s Digital Assets and Consumer Protection Act (Senate Bill 1797) has moved a step closer to becoming law after passing the Illinois Senate Executive Committee on April 4, 2025. This bill aims to protect consumers from digital asset fraud while fostering innovation […]
Read MoreU.S. Gov Recovers $7M in Crypto Fraud: Victims Urged to Claim Funds
$7,000,000 Up for Grabs As Feds Tell Crypto Fraud Victims To Come Recover Their Money The U.S. government has recovered $7 million from a sophisticated cryptocurrency fraud scheme and is inviting victims to reclaim their lost funds. The fraud involved social engineering tactics, where perpetrators gained victims’ trust and directed them to fake websites mimicking […]
Read MoreWest Virginia Court Alerts Public to Bitcoin Scam Using Fake Jury Duty Warrants
West Virginia Court Warns of Sophisticated Bitcoin Scam Involving Fake Jury Duty Arrest Warrants The U.S. District Court of the Western District of Virginia has issued a critical alert regarding a cunning Bitcoin scam that targets unsuspecting individuals with fake arrest warrants for allegedly missing jury duty. These scammers not only demand payment in Bitcoin […]
Read MoreDebiex Hit with $2.5M Fine for Romance Crypto Scam: CFTC Crackdown
Debiex Ordered to Pay $2.5M After CFTC Alleges Romance Scam Operation An Arizona federal court has ordered Debiex, a crypto trading platform, to pay nearly $2.5 million following a lawsuit by the U.S. Commodity Futures Trading Commission (CFTC). The court’s decision came after the CFTC accused Debiex of operating a “pig butchering” romance scam, defrauding […]
Read MoreSam Lee’s $1.89B HyperVerse Ponzi Scheme Exposed: DOJ and SEC Charges
Sam Lee Crypto Scam: Inside the $1.89B HyperVerse Ponzi Scheme Sam Lee, once hailed as Australia’s “crown prince of Bitcoin,” has fallen into disgrace, accused of orchestrating a colossal $1.89 billion Ponzi scheme through HyperVerse and HyperFund. The U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have charged him with defrauding thousands […]
Read MoreSouth Korean “Coin King” Jonbur Kim Park Re-Arrested for $47M Artube Coin Fraud
South Korean Crypto Figure Jonbur Kim Park, “Coin King,” Re-Arrested for $47M Artube Coin Fraud Jonbur Kim Park, the notorious “Coin King,” is back in custody after being re-arrested for a $47 million cryptocurrency fraud involving Artube coin, mere weeks after his release on bail for a previous scam. This latest incident not only showcases […]
Read MoreSEC’s New CETU Targets Crypto and AI Fraud: Laura D’Allaird Leads 30 Experts
SEC Launches Cyber and Emerging Technologies Unit to Combat Crypto and AI Fraud The U.S. Securities and Exchange Commission (SEC) has launched the Cyber and Emerging Technologies Unit (CETU) to tackle fraud in the cryptocurrency and AI sectors. Led by Laura D’Allaird, this new unit aims to enhance investor protection while fostering innovation. The CETU […]
Read MoreHo Kai Xin Jailed for 9 Years After $4M ByBit Fraud: A Wake-Up Call for Crypto Security
ByBit Fraudster Ho Kai Xin Sentenced to Nearly a Decade in Prison for $4 Million Crypto Heist Ho Kai Xin, a 32-year-old Singaporean woman, has been sentenced to nearly a decade behind bars for defrauding ByBit of over $4 million in digital assets through an audacious internal fraud scheme. Ho manipulated payroll to steal over […]
Read MoreCrypto Fraud Soars: Pig Butchering Scams Up 210%, Global Spread Intensifies
As Crypto Fraud Expands, Pig Butchering Scams Skyrocket 210% The cryptocurrency landscape, celebrated for its potential to revolutionize finance, is grappling with a surge in fraudulent activities. Recent data from Chainalysis, a company that tracks fraud on the blockchain, reveals a significant shift in scammers’ tactics, moving away from targeting high-value victims to ensnaring more […]
Read MoreNigeria Busts $3M Global Crypto Scam, 53 Charged Including 29 Chinese
Crypto Fraud Alert: Nigeria Unmasks Global Scam, 53 Charged In a bold move that rocked the world of cryptocurrency, Nigerian authorities have unveiled a global scam operation in Lagos, resulting in the arrest of 53 individuals from various nationalities, including 29 Chinese nationals. The “Eagle Flush Mission” operation exposed a sophisticated network that handled over […]
Read MoreHong Kong SFC Cracks Down on 33 New Crypto Scams, Licenses 2 More Exchanges
Hong Kong SFC Steps Up Crypto Oversight Amid Fraud Surge Hong Kong’s Securities and Futures Commission (SFC), the region’s financial regulator, has flagged 33 new websites impersonating the licensed crypto exchange HashKey, bringing the total number of reported impersonators to 45. This development follows the collapse of the unlicensed JPEX platform, which defrauded investors of […]
Read MoreNorth Dakota’s HB 1447 Targets Crypto ATM Fraud with Strict Limits
North Dakota’s House Bill 1447: A Bold Move to Safeguard Crypto ATM Users North Dakota has stepped up to tackle the escalating issue of cryptocurrency fraud with the introduction of House Bill 1447, aiming to protect users of crypto ATMs from financial exploitation. House Bill 1447 targets crypto fraud with ATM transaction limits and fee […]
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