fraud

OneCoin Co-Founder’s Sentence Postponed

Source Node: https://insidebitcoins.com/news/257250/257250
Time Stamp: April 8, 2020 6:54 PM - Modified On: May 21, 2021 - Published By:
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The United States government’s request for a delay on the judgment of OneCoin co-founder Konstantin Ignatov has been granted New York Southern District Court.Reports confirmed earlier today that the District Court approved the request yesterday after the government had filed a motion to adjourn Ignatov’s sentencing a bit longer. The sentencing, which was initially to happen on April 8, 2020, will now be shifted to July 8, 2020. A Useful Part of the Government’s Campaign Against OneCoin Ignatov founded OneCoin in Bulgaria with his sister, Ruja Ignatova. Both oversaw the scam that

Blockchain Traceability Overtakes Payments Among Major Corporations

Source Node: https://cointelegraph.com/news/blockchain-traceability-overtakes-payments-among-major-corporations
Time Stamp: April 8, 2020 3:06 AM - Modified On: May 21, 2021 - Published By:
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Multi-billion dollar companies are more likely to use blockchain for traceability and provenance than for payments and settlement, according to a new analysis of the Forbes Blockchain 50.The now annual Blockchain 50 list was published in late February and includes fifty of the biggest brands in the world who are using blockchain, each with annual revenue in excess of $1 billion in annual revenue. Research from Dutch firm Blockdata, which incorporated its own data in the analysis, found that fifteen have solutions that tackle traceability and provenance, while 13 are using

New Zealand Financial Regulator Warns Public About ‘Profit Bitcoin’ Scam

Source Node: https://cointelegraph.com/news/new-zealand-financial-regulator-warns-public-about-profit-bitcoin-scam
Time Stamp: April 6, 2020 10:53 AM - Modified On: May 21, 2021 - Published By:
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Amid the apparent global surge of cryptocurrency-related scams, New Zealand’s financial regulator has warned the public against another suspected Bitcoin (BTC) investment scam scheme.In an April 6 statement, the country’s major financial watchdog, the Financial Markets Authority (FMA), issued an official warning against “Profit Bitcoin” — an alleged get-rich-quick scam that promises returns by using software that “wins” Bitcoin trades with “99.4% accuracy.”Scam purportedly involved false claims from the New Zealand’s governmentThe FMA noted that the entity and its website, theprofitbtc.com, have the “hallmarks of a scam,” emphasizing that Profit

Investors Intensify Their Complaint Against Stock Traders’ Crypto Ponzi Scheme

Source Node: https://insidebitcoins.com/news/investors-intensify-their-complaint-against-stock-traders-crypto-ponzi-scheme/256580
Time Stamp: April 5, 2020 8:45 AM - Modified On: May 21, 2021 - Published By:
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Despite the best efforts of many out there, cryptocurrency investment scams still exist and are running rampant in today’s world. It almost seems like you’ve got one popping up every week.An Age-Old Fraud SchemeAccording to a recent filing with a federal court in Florida, Q3 Investment Recovery Vehicle, a company that represents over 100 investors, has sued a third party company for cheating them out of a deal.As the complaint explains, Q3 I LP was a company that sold itself based on the expertise of its founders. These founders include

Govt. Pauses SEC Suit Against $30 Mln ICO Amid Parallel Investigation Concerns

Source Node: https://cointelegraph.com/news/govt-pauses-sec-suit-against-30-mln-ico-amid-parallel-investigation-concerns
Time Stamp: April 5, 2020 6:04 AM - Modified On: May 21, 2021 - Published By:
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Prosecutors have paused a United States Securities and Exchange Commission (SEC) lawsuit against the alleged operators of a $30 million fraudulent ICO amid concerns that proceedings may impact the integrity of a parallel investigation into the defendants.The United States attorney’s office for New Jersey intervened in the case on April 2.SEC suit paused amid integrity concerns over the parallel investigationThe SEC action against defendants Boaz Manor, Edith Pardo, and the associated companies CG Blockchain Inc and BCT Inc has been halted to maintain the integrity of parallel criminal investigations into

South African National Blockchain Alliance Holds Online Launch

Source Node: https://cointelegraph.com/news/south-african-national-blockchain-alliance-holds-online-launch
Time Stamp: April 3, 2020 1:56 PM - Modified On: May 21, 2021 - Published By:
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The South African National Blockchain Alliance carried out an online livestream launch while the country is in the midst of a 21-day lockdown to curb the spread of the coronavirus pandemic. The organization was due to be launched at the beginning of April in Johannesburg but had to be taken online as South Africa and the world tackles a global health crisis.The launch happened during a livestream on YouTube on April 3, which included a panel of speakers elaborating on how SANBA will help nurture blockchain-focused startups and companies that

Crypto Traders Allegedly Involved in a $35m Ponzi Scheme

Source Node: https://cointelegraph.com/news/ecrypto-traders-allegedly-involved-in-a-35m-ponzi-scheme
Time Stamp: April 3, 2020 1:02 PM - Modified On: May 21, 2021 - Published By:
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Three alleged cryptocurrency traders ran a Ponzi scheme which scammed more than 100 investors for over $35 million, according to a lawsuit filed by an entity formed by the victims in a federal court of Florida, United States.According to an announcement published on April 2, Q3 Investment Recovery Vehicle, who represents defrauded investors, accused the trio of alleged crypto traders of cheating victims by promising them a winning trading formula. Former NYSE and Wells Fargo workers among the accused The federal securities fraud case names three individuals as the primary perpetrators of

Dow Jones Has a Blockchain-Based Product for Fighting Fraud and Staying Compliant

Source Node: https://cointelegraph.com/news/dow-jones-has-a-blockchain-based-product-for-fighting-fraud-and-staying-compliant
Time Stamp: April 2, 2020 3:57 PM - Modified On: August 29, 2021 - Published By:
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Dow Jones Risk & Compliance has teamed up with a company called EastNets to build a real-time blockchain-based watchlist feed. This watchlist identifies high-risk third parties for business deals and helps maintain a business’s regulatory compliance. This blockchain-based product currently lets users solve problems associated with manually updating these watchlists and protecting data from cyber criminals.Deya Innab, chief strategy and product officer for EastNets, said:“Designing and testing a suitable solution was challenging, but we are delighted to lead the industry with a real-time, secure watchlist update solution that is actively