Crypto Exchange Owner Sentenced to 10 Years in Prison for Multimillion-Dollar Scheme to Defraud Americans

Crypto Exchange Owner Sentenced to 10 Years in Prison for Multimillion-Dollar Scheme to Defraud AmericansThe U.S. has sentenced a cryptocurrency exchange owner to 10 years in prison. He “knowingly and intentionally engaged in business practices designed to both assist fraudsters in laundering the proceeds of their fraud and to shield himself from criminal liability,” the Department of Justice alleges. Crypto Exchange Owner Sentenced to 10 Years in Prison The […]

Lawsuit Filed to Stop a Global Cryptocurrency Scam Spreading in India

Lawsuit Filed to Stop a Global Cryptocurrency Scam Spreading in IndiaA class-action lawsuit has reportedly been filed against a cryptocurrency scam that has duped many Indian investors. The scam, promoted in three Indian languages, lures investors by promising up to 900% return on investments. The Delhi court has directed a notice to be placed in major newspapers, seeking victims of this scam to come forward. […]

Spanish Police Detain Four People Allegedly Involved in a $15M Crypto Ponzi Scheme

Spanish Police Detain Four People Allegedly Involved in a $15M Crypto Ponzi SchemeThe Spanish police detained four people of different nationalities this week for allegedly running a $15 million crypto Ponzi scheme. According to the police, “many victims” filed a complaint against them. Victims Believed Their Bitcoins Went to a Legit Company According to Policia Nacional, the four accused are Argentine, Spanish, and Italian nationals aged between […]

Localbitcoins Trader Facing up to 40 Years in Prison Over Bitcoin Fraud Schemes

Localbitcoins Trader Facing up to 40 Years in Prison Over Bitcoin Fraud SchemesA trader on Localbitcoins and Paxful has pleaded guilty to charges in connection with a couple of bitcoin scams. The U.S. Department of Justice alleges that the trader knowingly sold bitcoin to victims of fraudulent schemes. Bitcoin Trader Facing Jail Time The U.S. Department of Justice (DOJ) announced last week that a Boston man has […]

The post Localbitcoins Trader Facing up to 40 Years in Prison Over Bitcoin Fraud Schemes appeared first on Bitcoin News.

Lawyer Who Represents Victims of Alleged Spanish Crypto Ponzi Says It Could Be the ‘Biggest One’ in the Country

Lawyer Who Represents Victims of Alleged Spanish Crypto Ponzi Says It Could Be the 'Biggest One' in the CountryThe Arbistar case victims’ defense lawyer claims that the overall number of those affected amounts to 32,000 families with at least 93.4 million euros ($113.55 million) in losses. Lawyer in Arbistar Case Reveals Details on Class-Actions Lawsuits Against the Alleged Crypto Ponzi Scheme During an interview with Eldiario, Carlos Aránguez, a Spanish lawyer who represents […]

The post Lawyer Who Represents Victims of Alleged Spanish Crypto Ponzi Says It Could Be the ‘Biggest One’ in the Country appeared first on Bitcoin News.

Mastermind of Alleged Billion Dollar Spanish Pyramid Scheme Arrested, Faces 16 Year Prison Sentence

Mastermind of Alleged Billion Dollar Spanish Pyramid Scheme Arrested, Faces 16 Year Prison SentenceThe CEO of Arbistar the Spanish investment company, Santiago Fuentes, has been arrested and arraigned on charges of fraud, belonging to a criminal organization and money laundering. Fuentes, who has been in hiding since September, was arrested at one of his properties in the south of Tenerife. The Arbistar Pyramid Scheme Fuentes’ arrest stems from […]

The post Mastermind of Alleged Billion Dollar Spanish Pyramid Scheme Arrested, Faces 16 Year Prison Sentence appeared first on Bitcoin News.

Judge Dismisses $200M Damages Claim in SIM-Swap Crypto Lawsuit Against AT&T

Judge Dismisses $200M Damages Claim in SIM-Swap Crypto Lawsuit Against AT&TA California judge has dismissed the $200 million in damages claim against the telecom giant AT&T for alleged negligence and fraud. The judge still ruled the telecom company had to answer the lawsuit by Michael Terpin for enabling the theft of $24 million worth of his cryptocurrency after a company agent gave his sim card […]

The post Judge Dismisses $200M Damages Claim in SIM-Swap Crypto Lawsuit Against AT&T appeared first on Bitcoin News.

South African Man Charged in U.S. Court for Fraud Involving $28 Million in Bitcoin and Forex

South African Man Charged in U.S. Court for Fraud Involving $28 Million in Bitcoin and ForexA South African man has been charged with fraud in the Maryland District Court for allegedly scamming $28 million from over 1,000 investors. Dennis Jali, a former resident of Maryland, targeted church-going African immigrants, promising them guaranteed returns on his supposed bitcoin (BTC) and foreign currency investment pool. In a press statement, the U.S. Commodity […]

The post South African Man Charged in U.S. Court for Fraud Involving $28 Million in Bitcoin and Forex appeared first on Bitcoin News.

Bitcoin Superstar and Bitcoin Era – The Latest Two Faces of the Same Scam

Bitcoin Superstar and Bitcoin Era - The Latest Two Faces of the Same ScamWith the rising price and popularity of bitcoin come numerous scams. Bitcoin Superstar and Bitcoin Era are two investment schemes that have recently gained much attention. News.Bitcoin.com took a look at them, and it did not take much to spot how similar they are to each other and several other well-known scams. Also read: Bitcoin, […]

The post Bitcoin Superstar and Bitcoin Era – The Latest Two Faces of the Same Scam appeared first on Bitcoin News.