Bitmain, a major cryptocurrency mining has accused an almost unknown ‘Mangocoin’ (MGC) cryptocurrency for misusing the ‘Bitmain’ brand name. The Bitmain stated, “MGC and its website, APP, social media accounts, WeChat groups, QQ groups, etc. are not business channels or platforms of Bitmain, and these have no connection or affiliation with us whatsoever. Bitmain Cloud Miner on any platform of MGC is not developed by Bitmain.”
Volodymyr Kvashuk, 25 Ukranian citizen who has worked in past for Microsoft and stays at USA has been arrested in connection with a scheme to steal $10 million in cryptocurrency. He has been accused for of having stolen cryptocurrency gift cards that were redeemable against Microsoft products and then reselling them at a profit on the web & he has gifted himself a Tesla car & lakefront home with is hard earned money.
QLC Chain has recently revealed its plan in launching a blockchain-powered anti-fraud message tracker. The live demonstration of the platform will also be made available and the launching will be organized during the “Antifraud & Message Traceability Public Interest Platform Launching Event” on this coming May 17th. The platform is powered by Q-gas, and will be made available for commercial purpose immediately after the demo.
The Indian police officials are probing a crypto fraud case involving $26,000 worth Wowcoin. Indrani Maruthamuthu, the victim got to know the directors of Wow Digital Solutions Pvt Ltd through Facebook. She was introduced to a WhatsApp group called Wow Trade Coin. A trading account was opened in her name and huge returns were promised.
Prosecutors of Incheon district of South Korea filed suit against Mining Max LLC, a mining firm for $250 million fraud. This has emerged from the mining business activity happening between the months of September 2016 until this October.