DeFi Scams on the Rise as Another Protocol Defrauds Investors For $20 Million

Yfdexf.Finance, the new cash mining pool DeFi project, has pulled out of the market after stealing $20 million from investors. Yfdexf initiated a two-day large-scale advertising campaign on various social media platforms, such as Twitter and Telegram, and promised free giveaways for retweets and hashtags. A number of investors hastily leveraged their funds on the...

Three Teenagers Charged Over Celebrity Twitter Hack

Three people have been indicted for participating in a massive Twitter hack that took place on July 15, 2020.  Mason Sheppard (19), from Bognor Regis, has been indicted for allegedly hacking celebrities’ Twitter accounts, including Kim Kardashian and Elon Musk. Sheppard is accused of hacking into accounts of famous politicians and moguls in an attempt...

SEC Freezes $12mln Worth of Assets of the “Modern Money Team”

U.S. Securities and Exchange Commission (SEC) has obtained a freeze on the assets of the “Modern Money Team” (MMT) for allegedly lying to investors and misappropriating funds.  Daniel F. Putnam, Jean Paul Ramirez Rico, and Angel A. Rodriguez are accused of conducting fraudulent activities through two Utah-based companies MMT Distribution, LLC and R & D...

Plaintiffs Merge Three Lawsuits Against Bitfinex and Tether

Three separate lawsuits - David Leibowitz et al, Eric Young et al, and Bryan Faubus et al - were filed against Bitfinex and Tether. According to the court filing on January 16, legal counsel of all three parties requested a merger of the disputes. In their court filings, Leibowitz, Young and Faubus accuse Bitfinex and...

SEC Charges Shopin with Defrauding Investors In a $42 Million ICO

The U.S. Securities and Exchange Commission (SEC) has charged the cryptocurrency company Shopin, and its Chief Executive Eran Eyal, with defrauding a large number of investors in a $42 million Initial Coin Offering (ICO).According to the SEC’s announcement, the founder of Shopin was deceiving investors by selling unregistered securities in the form of Shopin...

Former StyleHaul Executive Pleads Guilty to $22 Million Embezzlement Charges

Dennis Blieden, a former Hollywood executive and a professional poker player, pleaded guilty to charges of embezzling $22 million from the company for which he had formerly worked.Blieden was a controller and VP of accounting and finance at StyleHaul, a digital marketing company that represents influencers on social media. Back in July, Blieden was...

Crypto Capital Executive Indicted on Fraud Allegations

Crypto Capital executive Oz Yosef was charged with multiple crimes by the U.S. Attorney’s Office of the Southern District of New York. As stated in the court documents from October 23, Yosef was indicted on 3 counts, including bank fraud, conspiracy to commit bank fraud, and conspiracy to perform unlicensed money transmitting service.According to the...

Tether and Bitfinex Sued for $1.4 Trillion

A law office from New York filed a lawsuit against a cryptocurrency exchange Bitfinex and Tether, claiming they manipulated the crypto market, causing harm to traders while reaping benefits for themselves.According to the lawsuit, Bitfinex and some of the associated entities participated in fraudulent, competition-distorting, and market-manipulation activities, causing financial damage to the plaintiffs.Additionally,...

NiceHash Co-Founder Arrested in Germany

The former CTO and co-founder of the Slovenian cryptocurrency hash power broker NiceHash has been arrested in Germany on charges of being a member of a group of hackers that was in charge of millions of dollars robbery.As the Slovenian news portal 24UR.com reports, Matjaz Skorjanec was detained by German law enforcement last Monday....

Two Individuals Arrested For Multi-Million Dollar Cryptocurrency Extortion

A former Ethereum advisor Steven Nerayoff and Michael Hlady (also known as “Michael Peters”) were arrested after allegedly making a threat that they will put the cryptocurrency startup company to an end if they don’t get paid millions of dollars worth of Ethereum (ETH).  “As alleged, Nerayoff and Hlady carried out an old-fashioned shakedown, to...