Category: Scams

Claymore token appears to have exit scammed, all social media accounts deleted

The team behind the Claymore (CLM) token project, a deflationary cryptocurrency launched on the Ethereum blockchain, appears to have pulled an exit scam. This, according to a post from a Reddit user, who revealed that all social media accounts associated with the Claymore token have now been deleted. As explained by its creators, the Claymore…

July 17, 2019
Algorand misrepresents its performance against Bitcoin

Blockchain startup Algorand cited incorrect Bitcoin stats while marketing its own network. The startup claimed that its network handled over 50,000 transactions in less than a month, which it said was equivalent to what Bitcoin does every six months when the network actually does 1.8 million transactions in that time. Algorand says it had a successful…

July 12, 2019
Tron Foundation responds to Ponzi scheme-related protests at Tron partner’s offices

Videos of protestors attempting to enter the research and development center of a Tron partner in China went viral. Justin Sun responded to allegations of inaction related to the Ponzi scheme, masquerading as Tron, which originally stirred protestors into action. Protestors attempted to enter the research and development center of Raybo, a Tron partner in…

July 9, 2019
QuadrigaCX CEO traded and lost over 21,000 Bitcoin in customer deposits

Ernst & Young revealed that QuadrigaCX, a failed Canadian crypto exchange that lost almost $190 million of its users funds, may have committed fraud. Auditors found that the exchange’s late founder and CEO transferred user funds off QuadrigaCX and used them for margin trading on other exchanges, losing millions. New report uncovers the truth behind…

June 20, 2019
Crypto exchange Cobinhood files for bankruptcy in alleged exit scam

Cobinhood, a well-known Taiwanese cryptocurrency exchange, allegedly pulled an exit scam after filing for bankruptcy. The exchange’s associated company DEXON Foundation, and its DXN token, raised $3.5 million last month. The company is currently in the process of laying off employees and restructuring. Controversy with Cobinhood Niche exchanges have long been hotspots for malicious trading…

May 21, 2019
OneCoin sued by former investor over multi-billion dollar fraud

OneCoin, a controversial cryptocurrency issuer accused of running a $4 billion pyramid scheme, has been sued by a former investor over her losses. A request was also made for class-action status to be granted for the suit to include other plaintiffs who say they were scammed. Controversial crypto company threatened with class action lawsuit A…

May 9, 2019
Crypto Crime Blotter: Scammers Dupe Jersey Island Man Out of £1.2 million, Backpage Laundered Cash With Crypto

Did Backpage launder cash through crypto? What happened to three Germans on the DarkWeb? This week’s Crypto Crime Blotter.

May 6, 2019
Manipulation rampant on decentralized crypto exchanges says latest research

Multiple cases of “Flash Boys” type automated trading bots have been found working on decentralized exchanges. According to researchers from Cornell Tech, the aggressive market strategies employed by these bots enable manipulative practices that could significantly damage ordinary trading. Cornell Tech Research Paper Discovers Manipulative Trading Practices on Decentralized Exchanges While decentralized exchanges have been…

April 16, 2019
Cryptonite Browser Extension Protects You From Phishing Sites and Fake Profiles

If you are new to the crypto space or if you are exploring new services and platforms, protection from scams and malicious websites should be a priority. Cryptonite is a useful browser extension that protects your private information and warns you in advance about risks to your crypto security. Also read: Get Real-Time and Historical…

April 14, 2019
Binance uncovers “design flaw attack” for Augur prediction markets

A design flaw in Augur allows ambiguous prediction markets to be gamed for profit, according to Binance Research. Furthermore, the report detailed other issues that “plagued” the Augur platform, including prediction market wash trading, low liquidity, and limited participation rates. In an Apr. 1st report, Binance Research has uncovered a myriad of issues with Augur,…

April 1, 2019