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...