Posts Tagged ‘scam’

Elon Musk recruits Dogecoin creator to fight cryptocurrency scambots

Determined to stop malicious botnets from impersonating him, Tesla CEO Elon Musk has asked Dogecoin creator Jackson Palmer to help him build a solution to curb the spread of fraudulent bots on the platform. Palmer had already devised a similar script in the past. The Dogecoin creator later tweeted that he hooked up Musk with the […]

Judge rules cryptocurrency ICO scam case falls under securities law

A New York judge ruled that the US SEC can proceed with its legal case against the RECoin and DRC ICO organizer Maksim Zaslavskiy, who currently stands accused of defrauding investors. Zaslavskiy tried to have the SEC’s case thrown out by claiming that ICOs can’t be categorized as “securities” but as “currencies,” hence there’s no legal […]

How to check for verified ICO advisors before investing

Navigating the ICO market can be difficult for both amateur and seasoned investors alike, given that the knowledge required to make adequate assessments stems from fields as diverse as cryptography, game theory, economics, and law. More so, due diligence processes require inquiries that are not done easily online. The existing knowledge gap and the amount […]

Algorithm of Action for Victims of Scam ICO

There are a lot of scam projects on the ICO market, so it’s quite difficult for an investor who is starting not to get bogged down by criminals. But even if you have become a victim of swindlers, albeit low, but still there are the chances of getting your investments back. It is necessary to […]

Researchers Discover Huge Crypto Scam Botnet on Twitter

Researchers have uncovered a huge botnet that mimics legitimate accounts on Twitter to spread a cryptocurrency “giveaway” scam. The research team found a single network of over 15,000 bots in a three-tiered structure that spread the fake cryptocurrency giveaway, and further evolved as time passed in order to avoid detection. According to the researchers, bots first create […]

Indian police bust $4M ‘Ripple Future’ cryptocurrency scam

In the latest crypto-bust, Indian police arrested two suspects for allegedly duping 300 million Indian Rupees ($4 million approximately) from 1,800 people. The accused were running a fake cryptocurrency company named ‘Ripple Future,’ which promised to triple investor money in 250 days, and also ran daily and weekly payment schemes. The Ripple Future management team claimed […]

Scam Alert: ToDoICO.com Offers to Fake Initial Coin Offerings and Make Them Look Credible

Blokt.com got in touch with an online company ToDoICO.com that offers ICO marketing services ranging from basic graphic design and building digital marketing strategies and found out that the company offers illegal services that encompass fake team members and project advisers for as little as 25 ETH. Read more

India: Multi-Million Cryptocurrency Scam Busted After Investors Alert Police

The crime branch of India’s financial capital busted a multi-million cryptocurrency scam on June 5, 2018. Operating under the guise of a real estate company since 2016, The Flintstone group sold a lifestyle of Carribean homes and promised citizenships in African countries to disgruntled investors on the pretext of letting them in on a “soon-to-be-legal” […]

Simply setting up an ICO website? Prepare to respond to US authorities’ questions!

SEC has received judicial assistance to compel PlexCoin’s Canadian assistant Yan Ouellet to co-operate in their investigation. According to the SEC, Ouellet has assisted the firm in setting up and/or running PlexCorps’ and PlexCoin’s websites; keeping track of the individuals who accessed the websites, including the identity of regulators and law enforcement agencies; and opening accounts […]

Exit Scam: Vietnamese Cryptocurrency Company Goes Dark After Allegedly Duping Investors Of US$660M In ICOs

Ho Chi Minh City-based company Modern Tech has gone dark after allegedly deceiving 32,000 people into investing an estimated VND15 trillion (US$660 million) into two fake cryptocurrency projects. Modern Tech had claimed to be the authorized Vietnamese representative of two cryptocurrencies, Ifan and Pincoin. It was responsible for conducting two ICOs on their behalf. Read more