A government-led study in China has detected 421 fake cryptocurrencies, according to a report published today, May 18. IFCERT, a national committee of internet financial security experts initiated by China’s Ministry of Industry and IT, has warned of the dangers of fraud in the crypto space. The committee’s report notes...
Office of Investor Education and Advocacy at the US Securities and Exchange Commission (SEC) has launched a fake initial coin offering (ICO) website,  according to a press release May 16. The goal of the site is to increase awareness of the typical warning signs of scam ICOs and to...
British business magnate Sir Alan Sugar has become the latest to warn Brits about Bitcoin scams following a fake investment endorsement using his name.Alan Sugar: ‘They Are Scum’Known for his less than subtle remarks and one-liners in the BBC TV series The Apprentice, 71-year-old Sugar has now spoken out...
The official Twitter account of Vertcoin, a peer-to-peer digital currency and software project, was compromised earlier today in an attempt to carry out a Bitcoin (BTC) scam. On May 1, the Vertcoin Twitter account posted an announcement of a cryptocurrency giveaway in celebration of Vertcoin’s success. The tweet promised to...
Australia’s Securities and Investments Commission (ASIC) said that it is “taking action” to protect consumers in the ICO space in a press release published today, May 1. The regulator says it will focus on investigating “deceptive” or “unlicensed” conduct from ICOs. According to the press release, on April 19 Australia’s...
Police in Dubai have arrested ten members of a gang who reportedly stole 7 mln AED ($1.9 mln) in an armed Bitcoin heist in the Al Muraqqabat area of Dubai on Wednesday, Gulf News reports Sunday, April 29. Lieutenant Colonel Adel Al Joker, Director of Criminal Investigation Department (CID),...
The founder and CEO of Telegram and its TON Initial Coin Offering (ICO) Pavel Durov tweeted a warning on Saturday, Apr 28, telling his followers that the messaging app is experiencing downtime due to its server clusters overheating. Durov’s tweet drew the attention of fake crypto giveaway scammers who...
Bill Harris, co-founding but short-lived CEO of Paypal, has written an opinion piece on Bitcoin in which he claims the cryptocurrency is “a scam… a colossal pump-and-dump scheme, the likes of which the world has never seen,” published on Recode Tuesday, April 24. Harris’s argument targeted Bitcoin on three fronts,...
Police in the northern Chinese city of Tianjin have seized 600 computers used to mine Bitcoin, after abnormal electricity usage attracted the attention of the local power grid operator, CNBC reports April 25. CNBC cites local media outlet Xinhua, which reported details from a local police officer saying that it was...
A police superintendent from Gujarat, India, has been arrested in regards to the alleged kidnapping and Bitcoin (BTC) extortion of a businessman, of which 10 people police officers have already been accused, local news outlet the Hindustan Times reported Monday, April 23. Indian businessman and builder Sailesh Bhatt reported that...