scam

Cobinhood Founder Nullify Bankruptcy and Scam allegation

Popo Chen, former CEO & Co-founder of the Cobinhood exchange has reacted to the news that the exchange is pulling of an exit-scam. Though he has been removed as CEO in his letter he defends the exchange by stating: “This is no exit scam. The company didn’t file for bankruptcy either.Our company has been through a series of unfortunate incidents, causing its suspension on Monday. Its mother company Blocktopia, Inc. then formed a smaller team (including me) to take over the daily operations.”

FCA reports $34 Million Lost in Crypto and Forex Scams Last Year

The primary financial regulator of the United Kingdom, the Financial Conduct Authority (FCA), reports that crypto investors in the country lost over $34 million due to cryptocurrency and forex scams for 2018–2019. The FCA is considering a ban on high-risk derivative products linked to crypto assets. FCA executive director Mark Steward claimed scammers can be very convincing so always do your own research into any firm you are considering investing with.

Wall Street marketplace Scam Cries Darknet Users

Wall Street marketplace Scam?: Cries Darknet Users

Darknet market (DNM) user recently switched to the Wall Street marketplace. But many claim that the migration isn’t as successful as projected, some even allege that Wall Street ran off with $30 million in crypto held in its security. Online comments by som pseudonym DNM veteran: “They claim to have some “technical issues” with their BTC servers. They have been saying that they are working on the issue for the last couple of days and that the missing BTC will be returned to the website.”

Fake Celebrity Endorsements on Crypto in Netherlands Increasing

Fake Celebrity Endorsements on Crypto in Netherlands Increasing

The number of fake celebrity endorsement on cryptocurrency in the Netherlands has shown a worryingly increasing number. Numerous scam cryptocurrency website are using celebrities fake quotes as a bait to trap potential investors. Around 1.7M Euros worth of damage have been reported to the Fraud Help Desk since the year 2018 and only five fraudulent websites have been exposed.

Suit against multi-million dollar scam

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.