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By now, you’ve probably heard of the pseudo-cryptocurrency Initiative Q. Many people with little understanding of either economics or technology have been sharing social media marketing relating to the scheme, which promises to change the future of finance, but appears little more than a successful data mining scam....
A New York federal court has ordered Gelfman Blueprint, a Bitcoin-denominated hedge fund, and its CEO Nicholas Gelfman to pay over $2.5 million in civil monetary penalties and restitution in the first Bitcoin fraud action filed by the Commodity Futures Trading Commission (CFTC). CFTC First Bitcoin Fraud Action...
A blockchain advert has been capitalising on the huge attention on the 2018 FIFA World Cup. At half-time during the England 2-0 win over Sweden, the advert by a Hyundai subsidiary proclaimed the benefits of blockchain technology to almost 20 million viewers. Hyundai Ad Showcases Blockchain A blockchain...
A man has been arrested in China for fraud over the sale of underpriced Bitcoin mining equipment and is awaiting prosecution. According to state media, the man made nearly 100 million yuan ($15 million) from 50 investors within a few months. Mining Fraudster Defaults on 3,000 Orders The...
With all cryptocurrency markets tanking in value, it is evident there will be some big changes. More specifically, some currencies are all but crashing to the ground as we speak. BitConnect, the infamous Ponzi Scheme, is finally meeting its demise, by the look of things. Thanks to the...
No one can deny the Bitcoin price has risen sharply these past few days. In Africa, the world’s leading cryptocurrency is making a lot of headway. Unfortunately, it may not necessarily be for the right reasons. An old Russian-driven Ponzi scheme – known as MMM – is making...
The world of Bitcoin and cryptocurrency has seen many Ponzi schemes over the years. One of the more notorious cloud mining scams was called GainBitcoin. Its founder, Amit Bhardwaj, is a wanted man, despite there being no outstanding warrants for his arrests. He is still active in cryptocurrency...
It has been a while we heard anything from OneCoin. Sadly, it appears this massive Ponzi Scheme is still active right now. Thankfully, they are getting a lot of heat from governments and law enforcement agencies. The latest report comes from the Government of Vietnam, who confirmed they...
A recent statement made by one of the Indian politicians shows the lack of awareness about the digital currency among many. The politician in question is Kirit Somaiya, a Member of Parliament from the ruling party. He was reported calling Bitcoin a “hypothetical currency” and a “Ponzi scheme”....
The OneCoin Ponzi scheme has fooled many people in the past. To this very day, the company continues to attract new members who will ultimately lose their hard-earned cash. Not too long ago, the team was looking to recruit a blockchain professional. They ultimately failed in doing so,...
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