Tagponzi scheme

Hong Kong Investment Guru Lures Investors into HK$6.9 Million Crypto Ponzi Scheme

fomo3d ponzi scheme exit scam

Hong Kong-based stock market commentator Raymond Yuen has been indicted for misleading web users into investing into a Crypto Mining Ponzi Scheme. Based on reports on local Hong Kong media outlet The Standard, investors had narrated to the Democratic party how Yuen swindled them of HK$6.9 million in funds for a Ponzi scheme. According to the reports, Yuen had promised juicy profits to investors...

South Korean Police Bust $38 Million Bitcoin Ponzi Scam

Seven individuals in the South Korean province of Jeonbuk have been arrested for running a large-scale $38 million scam, alluring middle-aged investors into a ponzi scheme. The group targeted new investors in the cryptocurrency market that had no underlying knowledge or understanding of bitcoin or other cryptocurrencies. It promised investors to pay out 180 percent in profit on a regular basis...

5 Ways The Financial Times Has Referred to Bitcoin in Five Years

Bitcoin price

The first step in any recovery, even an economic or political one, is the admittance of an actual problem. In the grand scheme during our present day, this is politically or economically impossible due to the fickle nature of markets and the increasingly fast nature of the press media. Were Bitcoin or something like it to eventually, as it were, take over the economy, this would inflict both...

Bust Nigerian Ponzi Scheme is Coming Back with Bitcoin

Nigeria, Paxful

MMM Nigeria has announced that it will introduce bitcoin as a form of payment when it reopens customers’ accounts on January 14. In December, participants in the MMM Ponzi scheme were informed that all confirmed subscriber accounts would be frozen for a month. It was reported that this was to help prevent any problems over the festive period. Earlier last year, MMM Global announced that it was...

Bitcoin Ponzi Schemer Gets 18 Months in Prison

ATBCoin

In a landmark case involving the first-ever federal securities fraud involving bitcoin, a Texas man identified as the operator behind a Ponzi investment scheme has received a sentence of 18 months in prison. Trendon Shavers, aka “[email protected]” was sentenced to 18 months in prison for the charge of one count securities fraud due to his bitcoin investment scheme operated as the Bitcoin Savings and...

Bitcoin Ponzi Schemer Pleads Guilty

A 33-year-old Texan man pleaded guilty to running a Ponzi scheme involving bitcoins, making it the first ever U.S. criminal fraud case related to the cryptocurrency. Texas native Trendon Shavers has admitted to operating a Ponzi scheme running $4.5 million worth of bitcoins, Reuters reports. Shavers aka “pirateat40” while online, was arrested in November, a couple of months after being ordered to...

Bitcoin Scam Alert – BTC-Multiplier.com

Everyone knows that Bitcoin Ponzi schemes are rampant on the Internet. Sometimes they're harder to spot than others. Sometimes they come in the form of entire currencies whose only purpose is to exit with a bulk of the valuable coins, other times they're even exchanges. But most of the time they're just Ponzi schemes, easily discernible in that they make outrageous promises, are vague about how...

Bitcoin Scam MyCoin Investigation Yields Multiple Arrests in Hong Kong

One of the largest stories in the Bitcoin universe in February was the bitcoin exchange that wasn't. The MyCoin pyramid scheme in Hong Kong defrauded a small number of very high rollers; people who were investing millions of US Dollars each. This created a reported cache of almost $400 million before the computer bandits made their getaway. Now, it seems that some headway has been made in the...

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