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Nigerian Crypto Industry Players Applaud Proposal to Jail Ponzi Operators

Bitcoin.com
Nigerian Crypto Industry Players Applaud Proposal to Jail Ponzi Operators
Africa
Nigerian Crypto Industry Players Applaud Proposal to Jail Ponzi OperatorsNigeria’s proposed Investments and Securities Bill, which proposes jail terms for Ponzi scheme operators, has been welcomed by crypto industry players who hope this will help clean up the sector’s reputation. 10-Year Jail Terms Proposed for Ponzi Operators Some members of Nigeria’s digital asset industry have hailed a draft bill proposing hefty fines and jail […]
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Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

US Sends Crypto Promoter to Prison for 20 Years in Multi-Million Dollar Ponzi Scheme

Bitcoin.com
US Sends Crypto Promoter to Prison for 20 Years in Multi-Million Dollar Ponzi Scheme
bitcoin.com
US Sends Crypto Promoter to Prison for 20 Years in Multi-Million Dollar Ponzi SchemeA cryptocurrency promoter was sentenced to 20 years in prison for running a Ponzi scheme that defrauded thousands of investors, particularly in Spanish-speaking U.S. communities. The scheme, disguised as a crypto mining operation, promised guaranteed returns but left victims unable to withdraw funds while promoters pocketed millions. The fraudster was ordered to forfeit over $3.6 […]
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Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Players Eye Lawsuits as Analysts Label Hamster Kombat a ‘Time Ponzi Scheme’

Bitcoin.com
Players Eye Lawsuits as Analysts Label Hamster Kombat a ‘Time Ponzi Scheme’
Airdrop
Players Eye Lawsuits as Analysts Label Hamster Kombat a ‘Time Ponzi Scheme’Analysts have begun to try to explain the weak performance of HMSTR, the Hamster Kombat official game token, since its token generation event and subsequent airdrop. Neomarkets chief analyst Oleg Kalmanovich assessed that one of the key problems for the projects included the dilution of HMSTR, calling its airdrop a time Ponzi scheme. Hamster Kombat […]
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Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

SEC Charges Brothers for Fake Crypto Trading Bot That Led to Misappropriation of About $54,000,000

The Daily Hodl
SEC Charges Brothers for Fake Crypto Trading Bot That Led to Misappropriation of About ,000,000
Daily Hodl
SEC Charges Brothers for Fake Crypto Trading Bot That Led to Misappropriation of About ,000,000

The U.S. Securities and Exchange Commission (SEC) charged two brothers with allegedly operating a $61.5 million Ponzi scheme that relied on promoting a fake crypto trading bot. The SEC accuses Jonathan Adam and his brother Tanner Adam of luring in more than 80 investors across the country by promising 13.5% monthly returns via a crypto […]

The post SEC Charges Brothers for Fake Crypto Trading Bot That Led to Misappropriation of About $54,000,000 appeared first on The Daily Hodl.

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Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Singapore Court Imposes 6-Year Prison Sentence on Crypto Ponzi Scheme Mastermind

Bitcoin.com
Singapore Court Imposes 6-Year Prison Sentence on Crypto Ponzi Scheme Mastermind
bitcoin.com
Singapore Court Imposes 6-Year Prison Sentence on Crypto Ponzi Scheme MastermindYang Bin, a 61-year-old Dutch national, was sentenced by a Singapore court to six years in prison and fined S$16,000 Singapore dollars for orchestrating a cryptocurrency Ponzi scheme. Yang’s company, A&A Blockchain Innovation, falsely claimed to own 300,000 cryptocurrency mining machines, promising investors a daily return of 0.5%. In reality, the company had no such […]
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Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Indian Court Reaffirms Legality of Cryptocurrency, Grants Bail to Yes World CEO

Bitcoin.com
Indian Court Reaffirms Legality of Cryptocurrency, Grants Bail to Yes World CEO
bitcoin.com
Indian Court Reaffirms Legality of Cryptocurrency, Grants Bail to Yes World CEOThe Orissa High Court in India has reaffirmed that cryptocurrency trading and transactions are neither banned nor deemed illegal in India. Citing the legality of crypto, the court granted bail to Sandeep Chowdhury, CEO of Yes World, who was accused of defrauding investors through a Ponzi scheme disguised as a cryptocurrency business. Orissa High Court […]
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Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Philippine SEC Warns Against Skyline Crypto and Dry Goods Trading Investments

Bitcoin.com
Philippine SEC Warns Against Skyline Crypto and Dry Goods Trading Investments
bitcoin.com
Philippine SEC Warns Against Skyline Crypto and Dry Goods Trading InvestmentsThe Securities and Exchange Commission of the Philippines issued an advisory on Wednesday to inform the public that Skyline Crypto and Dry Goods Trading is not authorized to solicit investments from the public. The company has been offering investment opportunities online, promising returns of 35% in 15 days and rewards like smartphones and vehicles. Skyline […]
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Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Indian Authority Cracks Down on Highrich Online’s Crypto Operations

Bitcoin.com
Indian Authority Cracks Down on Highrich Online’s Crypto Operations
bitcoin.com
Indian Authority Cracks Down on Highrich Online’s Crypto OperationsIndia’s Enforcement Directorate (ED) has conducted searches that uncovered a Ponzi scheme involving cryptocurrency operations and HR Crypto Coin, leading to significant asset seizures and freezing. The coins were part of the scheme, luring people to invest with promises of a 15% annual interest rate and offering 30% direct referral income for introducing new customers. […]
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Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Landmark Ruling: Crypto Dealings Not Illegal in India, Says High Court

Bitcoin.com
Landmark Ruling: Crypto Dealings Not Illegal in India, Says High Court
Bitcoin
Landmark Ruling: Crypto Dealings Not Illegal in India, Says High CourtThe Orissa High Court in India ruled that cryptocurrency dealings are not illegal under Indian law. This decision arose from a case involving individuals accused of fraud through a Ponzi scheme. Justice Sasikanta Mishra clarified that cryptocurrency is not considered money under the Prize Chits and Money Circulation Schemes (Banning) Act or a deposit under […]
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Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

NY Attorney General sues crypto trader NovaTech, claims $1B fraud

Coin Telegraph
NY Attorney General sues crypto trader NovaTech, claims B fraud
AWS Mining

Two people took in $1 billion in crypto deposits and traded $26 million of it, the suit alleges.

New York Attorney General Letitia James has filed a suit alleging that hundreds of thousands of people lost over $1 billion to two crypto firms with overlapping founders. The suit names cryptocurrency trading company NovaTech, its founders Cynthia and Eddy Petion, defunct cryptocurrency mining company AWS Mining and associated individuals and companies as defendants. 

According to the suit, more than 11,000 New York state residents, particularly members of the New York Haitian community, lost tens of millions of dollars by investing in NovaTech. The suit alleges that NovaTech is a Ponzi scheme that has used religious appeals to attract customers.

NovaTech also misrepresented its licensing and registration status, the suit alleges. The company was registered in St. Vincent and the Grenadines until that country’s Financial Services Authority canceled it in January 2023. The company collapsed in May 2023.

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Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

Russian Settlements Face Another Blow: U.S. Treasury Hints at Sanctions Against Chinese Banks

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