Category: Ponzi

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Pewdiepie Pokes Fun at Youtubers Who Shilled Bitconnect

Pewdiepie may be late to the Bitconnect bashing party, but he’s made up for it in a searing 15-minute sketch. “Finally I can quit making Youtube videos, this is the answer BITCONEEEEEECT!” the world’s most popular Youtuber cries...

If You’ve Been Scammed Out of Cryptocurrency It’s Probably Your Fault

Scammers are a dastardly, low down bunch. Preying on the gullible, extorting the vulnerable, and hoodwinking the hoodwinkable with their promise of free bitcoin if you send a little first and daily interest on your Bitconnect loan. It’s...

Bitmex Research: Tether Not a Ponzi But Susceptible to Shutdown

The research arm of Bitmex exchange is back with another detailed and wide-ranging investigation. This time it’s Tether, the company and its U.S. dollar-backed token that frequently comes in for scrutiny. A typically well-researched post outlines whether there’s...

Bad Code Has Lost $500 Million of Cryptocurrency in Under a Year

Cryptocurrency can be lost in a variety of ways, from hacking to forgotten passwords and failed flash drives. But in dollar terms, one of the biggest causes of crypto losses is bad code, and it’s not usually the...

New Jersey Cracks Down on Fraudulent Bitstrade

Following the fallout from fraudulent Ponzi-scheme Bitconnect’s demise, New Jersey has officially ordered cryptocurrency investment entity Bitstrade to stop offering unregistered and fraudulent securities in the state. New Jersey regulators have uncovered yet another fraudulent cryptocurrency investment company....

Bitconnect Faces Lawsuit for Operating “Wide-Reaching Ponzi Scheme”

Bitconnect is facing litigation from six individuals accusing the company of operating a Ponzi scheme in addition to numerous violations of securities laws. The six plaintiffs collectively invested approximately $771,000 USD into Bitconnect, and are seeking recourse following...

Onecoin Offices Raided in Sofia, Servers Shut Down

Bulgarian law enforcement agencies have raided the offices of Onecoin in Sofia as part of a multinational effort to neutralize what authorities call a “centralized cryptocurrency pyramid scheme”. Three million people may have been defrauded by the company...

US Regulator Sues Three Companies For Cryptocurrency Fraud

The U.S. Commodity Futures Trading Commission has filed charges against three separate companies for engaging in fraudulent schemes involving cryptocurrencies. The cases include fraud and misappropriation of bitcoin and litecoin. Also read: South Korean Officials Caught Trading On Insider...

Not Content Scamming $1.5 Billion, Bitconnect Wants Another $500 Million for ICO

The fall of Bitconnect was as certain as night follows day. A pyramid scheme wrapped inside a Ponzi with a side order of WTF, Bitconnect was as crazy as it was calamitous. The only miracle was that the...

Autopsy of the Bitconnect Implosion: Ponzi, Centralization, Governance

Ponzi lending smart bot scam Bitconnect finally did what most sane observers predicted long, long ago. It went splat. And it didn’t collapse due to government pressure, nor flurries of bad press, and certainly not from DDoS hacking...