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Bitclub Crypto Ponzi Scheme Suspects Petition Court For Release Citing Coronavirus Fears

Two men accused of operating a crypto Ponzi scheme, the BitClub Network, which defrauded thousands of investors out of $722 million, have requested a New Jersey federal court to grant them a temporary release. The two prisoners have petitioned a New Jersey federal judge as they fear they could contract the coronavirus if they are not freed … Continue reading Bitclub Crypto Ponzi Scheme Suspects Petition Court For Release Citing Coronavirus Fears

Romanian Programmer Confesses to Orchestrating BitClub Crypto Scam Worth $722 Million

Silviu Catalin Balaci, a 35-year old Romanian citizen living in Germany, has confessed to helping create BitClub Network, a crypto mining Ponzi scheme that siphoned off investors’ funds worth $722 million. As per the announcement by U.S. Attorney Craig Carpenito, the Romanian computer programmer Silviu Catalin Balaci has admitted to conspiring to carry out wire … Continue reading Romanian Programmer Confesses to Orchestrating BitClub Crypto Scam Worth $722 Million

DoJ Charges BitClub Promoter for Role in $722 Million Crypto Fraud Scheme

A Californian man has pleaded guilty for his involvement in perpetrating BitClub Network, a cryptocurrency mining scheme estimated to have generated at least $722 million. BitClub promoter charged with fraud Joseph Frank Abel pleaded guilty for conspiracy in fraud, and for offering and selling unregistered securities through BitClub Network. The US Department of Justice (DoJ) … Continue reading DoJ Charges BitClub Promoter for Role in $722 Million Crypto Fraud Scheme

How Blockchain Technology is Shaping Digital Advertisements

There are thousands of advertisements (ads) everywhere, in our phones, applications, websites, there is hardly anywhere you would turn to (digitally) today without bumping into an ad, even when using ad blockers. According to Forbes, an average person is exposed to about 4,000 to 10,000 digital ads every day. They aren’t cheap; the standard ads … Continue reading How Blockchain Technology is Shaping Digital Advertisements

Why is Nigeria Africa’s Biggest Crypto Hotspot Even Though it Doesn't Even Have a Bitcoin ATM?

Nigeria is the biggest crypto market in Africa, but based on official records it does not have a functional Bitcoin ATM. WeeTracker reported that this trend is noted in Nigeria despite it backing the first stablecoin project in the continent using its currency the Naira. Other African nations, such as Kenya, Uganda, South Africa, and Djibouti … Continue reading Why is Nigeria Africa’s Biggest Crypto Hotspot Even Though it Doesn't Even Have a Bitcoin ATM?

American Fugitive Wanted for $722 Million Crypto Scam Arrested in Indonesia for Child Sex Offenses

An American fraud fugitive wanted by the US Federal Bureau of Investigation (FBI) for a $722 million cryptocurrency scam has been nabbed in Jakarta, Indonesia, for child sex crimes. Russ Medlin has been on the wanted list of the FBI based on his involvement in a fraudulent Bitcoin scheme dubbed the Bitclub Network.  End of … Continue reading American Fugitive Wanted for $722 Million Crypto Scam Arrested in Indonesia for Child Sex Offenses

Whale Alert Analysis: Scammers Have Bagged Bitcoin Worth $24 Million in the First Half of 2020

Leading blockchain tracking and analytics provider Whale Alert has revealed that scammers have been on a stealing spree as they have made away with $24 million in Bitcoin so far in 2020. Cumulatively, they have siphoned Bitcoin valued at $38 million over the last four years, and this excludes Ponzi schemes as they are a … Continue reading Whale Alert Analysis: Scammers Have Bagged Bitcoin Worth $24 Million in the First Half of 2020

Chinese Police Arrest 27 Kingpins of Plus Token Bitcoin Scam Worth $5.7 Billion

Chinese authorities have arrested all 27 primary criminal suspects involved in the Plus Token Ponzi scheme that defrauded nearly 40 billion Chinese yuan, approximately $5.7 billion from victims. According to the announcement by local outlet CLS on July 30, two million people with at least 3,000 hierarchies were involved, and it was the first online … Continue reading Chinese Police Arrest 27 Kingpins of Plus Token Bitcoin Scam Worth $5.7 Billion

Texas Authorities Slap “Bitcoin Pope” and Forex Birds with Cease and Desist Order for Fraudulent Investment Scheme

The Texas State Securities Board has issued an emergency cease and desist order against the “Bitcoin Pope” trader, under allegations of fraudulent cryptocurrency investments. According to the evidence presented by Texas Securities Commissioner Travis J. Iles, Eric Balusek, along with his associate Kumar Gondesi, had been promoting misleading cryptocurrency investment services through their company – … Continue reading Texas Authorities Slap “Bitcoin Pope” and Forex Birds with Cease and Desist Order for Fraudulent Investment Scheme

Crypto Token Backed by $25M Diamond Ponzi Scam Flagged by DoJ

The US Department of Justice has charged a 51-year-old Florida native with wire fraud, for soliciting investors in a diamond-backed cryptocurrency Ponzi and investment scam. Jose Angel Aman was charged and made his appearance in court last week. According to FBI investigations, the Florida native and his partners in crime targeted investors throughout the United … Continue reading Crypto Token Backed by $25M Diamond Ponzi Scam Flagged by DoJ

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