Celsius Network Founder Alex Mashinsky Faces 20-Year Sentence for Multi-Billion Dollar Crypto Fraud U.S. prosecutors are pushing for a 20-year prison sentence for Alex Mashinsky, the founder of Celsius Network, in a case that highlights one of the largest frauds in the cryptocurrency industry. This case serves as a stark reminder of the risks and […]
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SEC Charges Ramil Palafox in $198 Million Crypto Ponzi Scheme Scandal Investors beware: Ramil Palafox, the founder of PGI Global, has been charged by the U.S. Securities and Exchange Commission (SEC) for orchestrating a massive $198 million Ponzi scheme. This case serves as a harsh reminder of the potential for fraud within the crypto space, […]
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Illinois State Senator Mark Walker’s Crypto Fraud Bill Advances Illinois State Senator Mark Walker’s Digital Assets and Consumer Protection Act (Senate Bill 1797) has moved a step closer to becoming law after passing the Illinois Senate Executive Committee on April 4, 2025. This bill aims to protect consumers from digital asset fraud while fostering innovation […]
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$7,000,000 Up for Grabs As Feds Tell Crypto Fraud Victims To Come Recover Their Money The U.S. government has recovered $7 million from a sophisticated cryptocurrency fraud scheme and is inviting victims to reclaim their lost funds. The fraud involved social engineering tactics, where perpetrators gained victims’ trust and directed them to fake websites mimicking […]
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West Virginia Court Warns of Sophisticated Bitcoin Scam Involving Fake Jury Duty Arrest Warrants The U.S. District Court of the Western District of Virginia has issued a critical alert regarding a cunning Bitcoin scam that targets unsuspecting individuals with fake arrest warrants for allegedly missing jury duty. These scammers not only demand payment in Bitcoin […]
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Debiex Ordered to Pay $2.5M After CFTC Alleges Romance Scam Operation An Arizona federal court has ordered Debiex, a crypto trading platform, to pay nearly $2.5 million following a lawsuit by the U.S. Commodity Futures Trading Commission (CFTC). The court’s decision came after the CFTC accused Debiex of operating a “pig butchering” romance scam, defrauding […]
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Sam Lee Crypto Scam: Inside the $1.89B HyperVerse Ponzi Scheme Sam Lee, once hailed as Australia’s “crown prince of Bitcoin,” has fallen into disgrace, accused of orchestrating a colossal $1.89 billion Ponzi scheme through HyperVerse and HyperFund. The U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have charged him with defrauding thousands […]
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South Korean Crypto Figure Jonbur Kim Park, “Coin King,” Re-Arrested for $47M Artube Coin Fraud Jonbur Kim Park, the notorious “Coin King,” is back in custody after being re-arrested for a $47 million cryptocurrency fraud involving Artube coin, mere weeks after his release on bail for a previous scam. This latest incident not only showcases […]
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SEC Launches Cyber and Emerging Technologies Unit to Combat Crypto and AI Fraud The U.S. Securities and Exchange Commission (SEC) has launched the Cyber and Emerging Technologies Unit (CETU) to tackle fraud in the cryptocurrency and AI sectors. Led by Laura D’Allaird, this new unit aims to enhance investor protection while fostering innovation. The CETU […]
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ByBit Fraudster Ho Kai Xin Sentenced to Nearly a Decade in Prison for $4 Million Crypto Heist Ho Kai Xin, a 32-year-old Singaporean woman, has been sentenced to nearly a decade behind bars for defrauding ByBit of over $4 million in digital assets through an audacious internal fraud scheme. Ho manipulated payroll to steal over […]
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