Amazing Crypto

Category: Scams

  • Exploring Crypto’s Most Common Scams

    Exploring Crypto’s Most Common Scams

    Cryptocurrency exchanges are still unregulated, though many go to great lengths to operate ethically. Digital assets as of now are not yet insured by organizations such as the FDIC, meaning if you lose your crypto, it could be gone for good. Makers of crypto wallets and currencies have responded to security concerns by implementing advanced…

  • Vitalik’s Impostor Instagram Account Collects 37 Ether in Apparent ‘Giveaway’ Scam

    Vitalik’s Impostor Instagram Account Collects 37 Ether in Apparent ‘Giveaway’ Scam

    An apparently bogus Vitalik Buterin Instagram account with more than 24,000 followers has captured 37 Ether and counting in what appears to be a textbook example of one of the Ethereum co-founder’s bemoaned “giveaway” scams. The account, which goes by the handle buterin_vitalik, looks to have already hoodwinked seven users into contributing a net 37.491…

  • Three Fraudulent Crypto Companies Sanctioned by North Dakota Government

    On Sept. 26th, North Dakota Securities Commissioner Karen Tyler issued cease and desist orders for three companies in her state that may have been offering fraudulent ICOs. The North Dakota Securities Department’s official release states that these orders were issued as part of an ongoing operation called Operation Cryptosweep, a multi-jurisdiction operation involving over 40 securities…

  • Meet the Hedge Fund Manager Cracking Down on Crypto Investment Fraud [INTERVIEW]

    Meet the Hedge Fund Manager Cracking Down on Crypto Investment Fraud [INTERVIEW]

    When Dan Neves started a hedge fund for cryptocurrency investors, he didn’t do it with the goal of helping the government crack down on fraud, but that’s exactly what he and his team are doing. Ironically, it started, with a cease-and-desist letter to his own company from the director of enforcement from the Texas State…

  • Ethereum dApp Flagged by Crypto Wallet MetaMask as ‘Active Scam’

    Ethereum dApp Flagged by Crypto Wallet MetaMask as ‘Active Scam’

    Ethereum-based decentralized application 333ETH, one of the protocol’s most used dApp, has been labeled as an “active scam” by cryptocurrency wallet MetaMask, reported Hard Fork on Sept. 28. Accessing 333ETH via MetaMask throws up a caution message to visitors–stating the website is flagged for malicious reasons and may compromise user data. 333ETH is the most…

  • Banks Launder $2.7 Billion Every Day, Crypto Exchanges $9 Million in Two Years

    Earlier this month, Danske Bank, the biggest bank in Denmark, faced its largest scandal to date for laundering more than $230 billion. Despite the billions of dollars banks launder on a daily basis, critics are still focused on crypto exchanges. On Sept. 28, Erik Voorhees, the CEO of popular cryptocurrency exchange ShapeShift, responded to the…

  • U.S. Judge Rules Cryptocurrencies Can Be Treated as Commodities

    In a court case of fraud allegations against My Big Coin Pay, a federal judge ruled that cryptocurrencies can be treated as commodities, even as legal discussions over its asset status continue. As reported by Reuters on Sept. 27, the judge ruled “virtual currencies” fall under the jurisdiction of the Commodities Futures Trading Commision (CFTC),…

  • French Regulator Blacklists More Fraudulent Crypto Businesses

    French Regulator Blacklists More Fraudulent Crypto Businesses

    AMF, France’s financial regulator, has expanded its list of entities involved in fraudulent activities often related to cryptocurrency investments. The agency has added 21 new websites most of which have been luring French investors with offers to participate in token sales and digital assets trading. Also read: Russian Crypto Groups in Telegram Increase Membership Despite…

  • Texas State Securities Board Uncovers Three New Crypto and ICO Scams

    Texas State Securities Board Uncovers Three New Crypto and ICO Scams

    The Texas State Securities Board issued three emergency cease and desist orders Tuesday, Sept. 18, to shut down a Russian cryptocurrency scam, charge DigitalBank and two principals for threatening immediate and irreparable harm to the public, and charge a forex and Bitcoin trader of guaranteeing false ROIs, respectively. Russian Crypto Organization Faces Cyberfraud Charges According…

  • Twitter Turns to Blockchain Technology to Prevent Scams

    Twitter Turns to Blockchain Technology to Prevent Scams

    Twitter CEO Jack Dorsey has presented a possible solution to the issue of Twitter fraud at a Congressional committee Wednesday, stating that the social media platform is currently investigating the application of blockchain technology to create decentralized trust and enforcement mechanisms. The Twitter ecosystem is saturated with scams, fraud and impersonation, and the Twitter cryptocurrency…