Ignatov signed a plea on Oct. 4 and faces up to 90 years in prison for money laundering and fraud charges. Konstantin Ignatov, co-founder of alleged crypto scam OneCoin, has pleaded guilty to participation in the multi-billion dollar fraud. According to a BBC report on Nov. 14, Ignatov signed a plea on Oct. 4 and […]
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BaFin has issued a cease-and-desist order to Karatbit Foundation to immediately stop unauthorized e-money business in Germany based on the issuance of the KaratGoldCoin. The German Federal Financial Supervisory Authority (BaFin) has issued a cease and desist order to Karatbit Foundation to immediately stop unauthorized business in Germany. BaFin alleges that Karatbit Foundation is issuing […]
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While money laundering is noted as a key fear of regulators, the numbers shows fiat currency is still the main choice of criminals. Cryptocurrencies came to life as a counterweight to the global financial restrictions that are powered by banks and regulators through the use of fiat. Therefore, it is fitting that Bitcoin (BTC) broke […]
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A U.S.-based lawyer linked with the OneCoin scam allegedly helped Ruja Ignatova, the principal accused in the OneCoin scam, launder over $400 million. With each passing day, the financial nitty-gritty associated with the cryptocurrency-related OneCoin Ponzi scheme continues to become of increasing interest to members of the global crypto community. The U.S. government’s previous estimate […]
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U.S. regulators seek to curb binary options scams as they are entering the crypto sphere and becoming more clever. Mainstream finance and cryptocurrency are becoming more closely intertwined with each passing day. Just over a year ago, the idea of centralized financial behemoths trialing blockchain or crypto solutions would have been unthinkable. Currently, cryptocurrency is […]
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Government authorities are looking for new ways to track crypto to prevent or solve financial crimes, but this can decrease privacy. Tracking cryptocurrency transactions is getting easier for law enforcement agencies. On Oct. 16, Cointelegraph reported on how authorities in the United States successfully shut down an international child pornography site. To identify the criminals, the […]
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Hackers have compromised the website of the city of Johannesburg, South Africa, and demanded ransom in Bitcoin. Hackers have compromised the website of the city of Johannesburg, South Africa, and demanded ransom in Bitcoins (BTC). The city announced the hack on its official Twitter account on Oct. 25. The city wrote that it had “detected […]
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FSA-licensed crypto exchange Huobi Japan has raised $4.6 million from Financial Products Group, a financial instruments business operator. Licensed crypto exchange Huobi Japan has raised 5 million yen ($4.6 million) from Financial Products Group (FPG), a financial instruments business operator. The development was revealed in a press release shared with Cointelegraph on Oct. 25. Future […]
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Crypto worth billions upon billions of dollars has been lost to fraud. But what are the most common scams, and can they be stopped? How can payment fraud be avoided? Introducing better verification measures can go a long way to protecting consumers. Amazon and eBay are often held up as good examples of how transactions […]
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The United States Commodity Futures Trading Commission has charged a Nevada company with violations relating to an $11 million Ponzi-like crypto scam. The United States Commodity Futures Trading Commission (CFTC) announced the filing of a civil enforcement action against Nevada-based Circle Society. Defendants guaranteed investors 300% return On Oct. 16, the CFTC announced that it […]
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