Category: Scams
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Blockchain Investors Lose Billions to Projects with ‘No Evidence’
Since 2017, investors have lost billions investing in blockchain and cryptocurrency projects. In an information-starved environment, exit-scams, poorly executed ideas, and applications that simply do not make sense are able to thrive. A recent study can possibly shed some light on why this has happened—and is happening—in crypto. MERL Tech, a research-blog focused on technology’s…
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The Daily: Bitmain Launches Crypto Index, Xolaris Sets up Bitcoin Mining Fund
In this edition of the Daily, we cover Bitmain’s new cryptocurrency index and the establishment of a fund that will invest in bitcoin mining. We also look at a recently active online account that was previously associated with Satoshi Nakamoto, as well as the launch of a help center for defrauded crypto enthusiasts in Russia.…
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Texas ICO Exterminators: Cryptocurrency Frauds Prosecuted as U.S. Crackdown Continues
Two more unscrupulous cryptocurrency scams were eliminated by Texas securities regulators. BitQyck and its bitqy token, and My Crypto Mine and its mining and investment activities, were both fraudulent projects operated to deceive the public and steal funds from investors. The perpetrators behind both scams were caught and prosecuted by The Texas Securities Board Enforcement…
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Crypto Detectives Project Rates and Investigates Suspicious ICOs
An online platform created in Russia has set a noble goal of making the cryptocurrency industry safer for investors. The project investigates initial coin offerings (ICOs) that have raised suspicions and performs the due diligence for free. A report about each ICO is then published containing а summary of the findings and a conclusion about…
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Twitter Bitcoin Scams Take New Leap After Verified Twitter Accounts Impersonate Elon Musk
Technology entrepreneur and visionary Elon Musk, popularly known for electric cars, reusable rockets, and PayPal, is increasingly seeing an uncanny association with Bitcoin for the wrong reasons. Scammers are capitalizing on Musk’s Twitter social media prominence to spin out hopes of cryptocurrency returns – with gains even more spectacular than the famed 2017-bull run. Musk…
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Fake EOS Wallet Found Stealing User Funds
A fake EOS wallet app on the Google Play store has been stealing cryptocurrency. EOS developers took to Twitter Thursday morning to warn the community. A Reasonable Facsimile EOS RIO is an independent software firm based in Rio de Janeiro. The group is designated as one of the 21 ‘Block Producers’ for EOS, one of…
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Texas Securities Board Hits Two “Fraudulent” Mining Operations with Emergency Cease-and-Desist Orders
The Texas Securities Board pounces on two mining operations using social media and multilevel marketing to propagate a transnational web of “fraudulent crypto-mining programs”, Director of Enforcement Joseph Rotunda informs CryptoSlate. Related: Texas Law Enforcer Who Took Down BitConnect: The Hunt for Crypto Cowboys in the Lone Star State [INTERVIEW] AWS Mining and EXY Crypto have…
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SEC Expands Crypto Fraud Crackdown
The Securities and Exchange Commission (SEC) is doubling down on their efforts to stamp out cryptocurrency investment fraud, according to a report by Politico published Nov. 1. Hi honeys https://t.co/5D9rHNcKKy — Eric Garland (@ericgarland) November 2, 2018 https://platform.twitter.com/widgets.js Custody Questions The government regulatory body is questioning investment advisers registered with the SEC to determine how…
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![Texas Law Enforcer Who Took Down BitConnect: The Hunt for Crypto Cowboys in the Lone Star State [INTERVIEW]](https://amazingcrypto.com/wp-content/uploads/2018/09/texas-securities-crypto-scams-social-300x158.jpg)
Texas Law Enforcer Who Took Down BitConnect: The Hunt for Crypto Cowboys in the Lone Star State [INTERVIEW]
In an exclusive interview, CryptoSlate spoke with the Director of Enforcement at the Texas State Securities Board, Joseph Rotunda, who has presided over more than a hundred investigations into suspect crypto offerings since a 2017 state-wide sweep that rocked BitConnect with an emergency cease-and-desist order. Where they came barreling unexpectedly for most, crypto’s more anarchic…