The U.S. Securities and Exchange Commission (SEC) filed new charges against fintech company Longfin Corp. and its CEO, Venkata Meenavalli, alleging that the company committed fraud when it claimed to bring in more revenue than it had in order to secure an exchange listing for its shares.
According to a press release Wednesday, the SEC is accusing Longfin, whose share price jumped some 2,000 percent in 2017 after announcing a blockchain pivot, of falsifying its revenue and fraudulently getting the company listed on the Nasdaq exchange.
On March 21, 2019, Dutch news outlet NL Times reported that “Berry van M.,” a 33-year-old Dutch businessman and the operator of now-defunct trading platform Koinz Trading, has been arrested on charges of deceiving investors with a bogus bitcoin mining scheme.
The report claims that van M. was the director of companies that sold “computers for mining Bitcoin” since 2017 and that he “managed the computers in a so-called ‘mining farm.
A 33-year-old man in the Netherlands has been arrested for bitcoin mining fraud worth over €2 million ($2.2 million).
Dutch tax authority’s investigative department, FIOD, announced the news Monday, saying that the man was a director of two private limited companies where he convinced around 100 people to buy computers for mining bitcoins that he probably never purchased.
Nestled in the exhibition room at this year’s Consensus conference, the U.S. Commodity Futures Trading Commission (CFTC) had a message for conference goers as they weaved in and out of booths representing various projects and startups in the space: “Be on the lookout for virtual currency fraud” and if you see it, let us know.
“The Whistleblower Office of the Commodity Futures Trading Commission (CFTC) is issuing this alert to inform members of the public about how they may make themselves eligible for both financial awards and certain protections while helping stop [sic] fraud and manipulation relating to virtual currencies,” a handout from the booth reads.
U.S.-based cryptocurrency exchange Kraken has delisted Bitcoin SV (BSV), per an official announcement on its blog.
In the announcement, the exchange noted that the digital asset had exhibited behavior opposite to its standards and those of the wider crypto community.
“Over the last few months, the team behind Bitcoin SV have engaged in behaviour completely antithetical to everything we at Kraken and the wider crypto community stands for,” the post reads.
Individuals behind a cryptocurrency scam in South Korea have cheated around 56,000 investors out of $18.5 million, police say.
According to a report from Korea JoongAng Daily on Monday, the Seoul Special Judicial Police Bureau for Public Safety has arrested the CEOs of an online shopping website and a bitcoin firm, identified by their surnames Lee and Bae, as well 10 other people said to be involved with the Ponzi scheme.
The Texas State Securities Board (TSSB) has issued cease-and-desist orders to two bitcoin investment schemes that it alleges are selling unregistered securities and making fraudulent claims to the state’s residents
According to one order lodged on Tuesday, the securities regulator takes aim at a company called Forex EA & Bitcoin Investment LLC and two individuals associated with the scheme, James Butcher and Richard Dunn.
A Philippines lawmaker is seeking to speed up the passage of legislation that would increase the penalties for crimes involving cryptocurrencies.
Leila M. de Lima, a Philippines’ opposition senator, urged her colleagues in the legislative house on Monday to allow “swift passage” of bills she has previously introduced that propose raising the penalties for crypto crimes to one degree higher than currently.
The U.S. Commodity Futures Trading Commission (CFTC) issued a press release on Friday, November 9, 2018, stating that it had fined Arizona resident Joseph Kim for perpetrating a fraudulent cryptocurrency trading scheme against his former employer and other investors. The same day, a District Court in the Northern District of Illinois sentenced Kim to 15 months on wire fraud charges.
The U.S. Securities and Exchange Commission (SEC) has released a report detailing actions taken against fraudulent ICOs and financial ventures, and, indeed, the year has been wrought with cases. The report details actions for 2018’s fiscal year, which ended on September 30, and offers insight into the ICO-related fraud that has seemingly come to light over the past several months.
Police in Canada have issued a warning over a bitcoin tax scam after more than 40 York region residents fell victim to fraudsters.
According to a report by CBC News, York Regional Police said that victims lost as much as 340,000 Canadian dollars (US$267,000) through the scam.
The fraudsters, who identified themselves as employees of the Canada Revenue Agency, threatened the victims with arrest for unpaid taxes if they did not send funds using bitcoin ATMs.
Компания Evolve Funds подала заявку на открытие первого в Канаде биржевого инвестиционного фонда (ETF). Об этом пишет BNN.ca.
Как отмечает издание, ETF будет котироваться на Фондовой бирже Торонто (TSX ) под тикером BITS.
“Для многих доступ к биткоину затруднен — это очень сложный и дорогостоящий процесс, поскольку в настоящее время инвесторы не могут торговать им на обычном брокерском счете, — отмечает CEO Evolve ETFs Радж Лала.
The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against a New York-based man and his company for allegedly running a bitcoin-based Ponzi scheme.
Nicholas Gelfman and his firm, Gelfman Blueprint Inc (GBI), are accused of procuring over $600,000 from 80 people between January 2014 and approximately January 2016.
According to the CFTC, the funds were solicited from customers under the pretence of sponsoring a high-frequency bitcoin trading algorithm called "Jigsaw.
Switzerland's financial markets regulator has ordered the closure of three companies tied to an alleged cryptocurrency scam.
The Swiss Financial Market Supervisory Authority (FINMA) announced on September 19 that it had shut down the Quid Pro Quo Association, Digital Trading AG and Marcelco Group AG in connection with the sales of a so-called "E-Coin" cryptocurrency. The companies had apparently been operating without the appropriate authorization, and were liquidated by FINMA as a result.
The European Commission is gearing up to propose new penalties for cybercrimes involving cryptocurrencies.
In a release yesterday, the European Union's executive arm outlined its intent to introduce a new directive focused on digital crimes, citing recent ransomware attacks in the region and abroad. Part of that plan would involve the creation of a European cybersecurity agency to spearhead such efforts.