Posts Tagged ‘scam’

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

Someone created a sham British company to exploit Telegram’s mega ICO

A company named Telegram Open Network Limited was incorporated on Feb. 28, according to documents lodged with the British companies register, Companies House. It names Telegram founder Pavel Durov as the company’s sole shareholder, director and secretary. The firm claims £800 million (US$1.13 billion) in paid-up capital. After some speculation on Twitter about the authenticity […]

Megatron ICO: Doctored Profile Photos, Big Potential for Scam

The Megatron ICO may be one of the up and coming scams. The ICO has the typical signs of a shady proposition: it focuses heavily on the image of immediate wealth, and the team photos look like a bad Photoshop job. Megatron is not listed on major ICO calendars and platforms, has fake address in Switzerland, and […]

FBI Publishes PSA About Tech Support Fraud Targeting Cryptocurrency Holders

The FBI’s Internet Crime Complaint Center (IC3) has published a public service announcement warning about the prevalence of scammers posing as tech support for a variety of industries, including the cryptocurrency sector. Tech support fraud, which can occur through the telephone, search engines, pop-ups, locked screens, and phishing emails, is now also being perpetrated through the new […]

BrandShield Launches Blockchain-Based Anti-Scam Platform MyShield

BrandShield, an AI-powered cyber intelligence company fighting online brand abuse, has launched MyShield, its anti-scam platform combining the power of AI with blockchain technology. Previously, the only types of cybersecurity have been anti-virus and anti-spam, but now BrandShield is developing the so-called anti-scam model. With MyShield, the accreditation of the industry is placed back into […]

Mayweather ICO Founders Knocked Out by SEC for Fraud

The US Securities Exchange Commission’s new Cyber Unit task force has taken down boxing great Floyd Mayweather’s sponsor, Centra Tech. The Florida based company that claimed to be “creating a world connected to cryptocurrency” through their products has been charged with violating the anti-fraud and registration provisions of federal securities laws. The charges were brought when the SEC […]

Scammer Miserably Fails to Steal Bitcoin from ICO Team

Some criminals are shifting their attention from potential investors to the people organizing these crowdsales. It’s a very peculiar trend, although it seems there is still a lot of work to be done until people actually fall for these scammy tactics. Instead of hacking a website, sending out a phishing email, or simply creating a […]

Researchers Claim 81 Percent Of ICOs During The Past Year Were Total Scams

According to a recent research by Statis Group, roughly 81 percent of all ICOs in the past year have been outright scams, 6 percent of ICOs outright failed, 5 percent were said to have “Gone Dead”, and just 8 percent actually graduated to be trading on an exchange. Of the 8 percent that made it to […]