Posts in category

Crime


Yet another high-ranking police official in the Indian state of Gujurat has been taken into custody in connection with a $1 million bitcoin extortion scheme. According to the Hindustan Times, Amreli police superintendent Jagdish Patel was arrested Sunday on suspicion that he helped a group of police officers detain a local resident after which he …

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Two men from South Korea have been sentenced for creating a bitcoin pyramid scheme that swindled some 20 billion Korean won ($20 million) from investors. On April 19, a judge from Seoul’s Incheon District Court issued fines of $15 million and $8 million, respectively, to the two fraudsters, according to local news source Yonhap. The report said …

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Two suspects from South Korea have allegedly used a pyramid scheme that involves bitcoin to swindle a total of $20 billion from investors in the country. The news was made public as a judge from Seoul’s Incheon District Court has issued a fine of $15 million and $8 million respectively to the two men on …

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Trust, but verify. Borrowed from a Russian writer, it’s one of crypto’s most widely embraced slogans, though one that’s becoming even more relevant on social media, where battling factions bent on promoting the next great high-tech investment are now turning the very symbols meant to protect users against them. Whether it’s an account impersonating the world’s largest …

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The alleged thief behind Iceland’s “Big Bitcoin Heist” has escaped from prison and escaped to Sweden. Sindri Thor Stefansson, who is accused of stealing 600 cryptocurrency mining computers across at least four separate incidents between December 2017 and January 2018, allegedly flew to Sweden on a flight with Iceland’s prime minister, according to a report from …

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Police in China’s northwestern city of Xi’An have arrested the founders of a claimed nationwide cryptocurrency pyramid scheme that allegedly amassed 86 million yuan ($13 million) from over 13,000 people. According to a report from local media source Huashang News, Wednesday, the scheme launched in March 28 this year after months in preparation by a primary suspect …

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New York’s attorney general is taking a closer look at some of the world’s most popular cryptocurrency exchanges. Attorney General Eric Schneiderman announced the “Virtual Markets Integrity Initiative” on Tuesday, saying it was “a fact-finding inquiry into the policies and practices” of cryptocurrency trading platforms. Letters were sent to 13 exchanges, seeking information about their “operations, …

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Federal prosecutors say a New York resident misled investors about a worthless cryptocurrency as part of a wider investment fraud scheme. The U.S. Attorney’s Office for the Eastern District of New York said Monday that Blake Kantor, also known as Bill Gordon, was being charged with conspiracy to commit wire fraud, making false statements and …

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A Philippines lawmaker is seeking to speed up the passage of legislation that would increase the penalties for crimes involving cryptocurrencies. Leila M. de Lima, a Philippines’ opposition senator, urged her colleagues in the legislative house on Monday to allow “swift passage” of bills she has previously introduced proposing to raise penalties for crypto crimes to …

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The regulatory crackdown on bitcoin trading in mainland China has reportedly led to a bitcoin miner in Taiwan being shot by local gangsters. According to a report from Taiwanese news source Liberty Times, the incident occurred on Saturday night, local time, when two local gangsters had scheduled to meet a bitcoin miner with whom they had …

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Morocco has extradited a British national to the U.S. after he was accused of defrauding investors in a bitcoin-related venture. Renwick Haddow, who was indicted in June on fraud charges for operating the Bitcoin Store and a startup called Bar Works, had been arrested by Moroccan authorities in July and detained for nearly nine months. Geoffrey …

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Two bitcoin brokers in Singapore were reportedly assaulted and robbed of nearly $300,000 in cash during an in-person meeting with a prospective seller. According to an announcement from the Singapore Police Force Thursday, the incident happened on April 8. Following a report to the police, a suspect was later identified and arrested, and is currently …

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The Commodity Futures Trading Commission apparently affirmed its ability to regulate cryptocurrencies as commodities on Thursday, after an alleged scammer gave up a legal fight against the agency. Patrick McDonnell, whom the CFTC sued in January, sent a letter to U.S. District Court chief magistrate Roanne Manne of the Eastern District of New York, saying …

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Investors in two allegedly fraudulent initial coin offerings (ICOs) descended on the offices of the company behind both of them this past weekend. As much as $660 million may have been lost as a result of the schemes – Ifan and Pincoin – though these figures could not independently be verified as of press time. …

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The Philippines securities watchdog warned that it will regulate cryptocurrency cloud mining contracts in the country under existing securities rules. In a statement issued Tuesday, the country’s Securities and Exchange Commission (SEC) said that cloud mining contracts should be classified as securities, since, when the Howey test is applied, the process was determined to involve a …

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Bitfinex is pushing back against allegations it is involved in a money laundering case in Poland. The cryptocurrency exchange told CoinDesk on Tuesday that it conducted an “internal investigation of its international organization,” and found no connection between its operations and the two shell companies accused of defrauding the Belgian government and laundering funds in …

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Cryptocurrency exchange Bitfinex denied claims it was involved in a money laundering case in Poland on Tuesday. The startup told CoinDesk it conducted an internal investigation of its international organization, and found no connection to two shell companies accused of defrauding the Belgian government and laundering funds in Colombia. The exchange wrote that “based on …

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Cryptojacking – the act of hijacking a user’s computer to mine cryptocurrencies – is likely to “become a regular source of income for website owners,” the British government’s communications division warned Tuesday. The U.K.’s National Cyber Security Centre, the technology wing of the Government Communications Headquarters, highlighted cryptojacking as a “significant” concern in its latest …

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An Indian government think tank is working on a blockchain solution aimed to combat the country’s roaring counterfeit drugs trade. The National Institution for Transforming India, known as NITI Aayog, aims to have a proof-of-concept (PoC) of the solution completed by the end of 2018 and begin rolling it out next year, according to local news …

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The Crime Investigation Department (CID) in the Indian state of Gujurat has accused 10 police officers of kidnapping, attempted extortion and corruption after they allegedly abducted a businessman and forced him to hand over 200 bitcoins. Gujurat’s CID branch filed a First Information Report – the initial step in conducting a police inquiry in India …

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