This week, a United States federal district judge ruled that an allegedly fraudulent crypto token meets the definition of a commodity. That brought the case under the Commodity Futures Trading Commission’s (CFTC) purview, which has long argued that virtual currencies constitute commodities. Here what it means — and how...
The U.S. Securities and Exchange Commission (SEC) has filed charges against international securities dealer 1pool Ltd., which was offering Bitcoin-funded security-based swaps, according to an SEC announcement published September 27. Per the SEC, the case involves the Marshall Islands-based corporation 1pool Ltd., which provides cryptocurrency-related services and stands behind 1broker.com,...
New Zealand police have warned the public about online scams after an investor lost $320,000 NZD ($213,000 USD) to crypto fraudsters, the Canterbury police confirmed Wednesday, September 26. The unnamed investor, who made multiple investments in an online cryptocurrency scheme which turned out to be fraudulent, was attracted by its...
The Texas Securities Commission (TSC) has issued an emergency cease and desist order against a Russian crypto firm, according to an official press release published September 18. The Texas regulator states that the company allegedly misappropriated both Coinbase and Cointelegraph materials to attract investors. The firm, operating as Coins Miner...
The CEO of SpaceX and Tesla Elon Musk asked Jackson Palmer, the creator of Dogecoin (DOGE), to help him combat "annoying" cryptocurrency scammers on Twitter in a tweet Monday, September 17. Mentioning Palmer in his tweet, Musk wrote: "@ummjackson if you can help get rid of the annoying scam spammers, that...
Homero Joshua Garza, the CEO of the now-defunct U.S. crypto firm GAW Miners, has been sentenced to 21 months in prison for defrauding investors, local news agency Hartford Business reports Thursday, September 13. Garza received the verdict in the Hartford federal court, following his guilty plea to a wire fraud...
Authorities from two U.S. states have implored the Criminal Investigation Department (CID) in India to seize the property of promoters of Bitcoin (BTC) investment firm BitConnect, the Times of India reported September 11. BitConnect, which ceased its operations in January of this year, was an open-source cryptocurrency and an investment...
Star Xu, the founder of exchange services provider OKCoin and the world’s second-largest crypto exchange OKEx, has allegedly been detained in China in relation to suspected digital currency fraud, local news outlet Sina News reports September 11. According to the news outlet, Xu is currently being held in the Shanghai...
Belgium’s Financial Services and Markets Authority (FSMA) has added 28 new sites to its crypto-related fraud blacklist, as it reiterates its warnings to consumers in a fresh alert posted today, September 4. The FSMA has said that despite its prior risk alerts, the agency continues to receive complaints from consumers...
The Supreme Civil and Criminal Court of Greece has ruled to extradite alleged BTC-e owner Alexander Vinnik to Russia to face several cyber fraud charges, Russian state news agency RIA Novosti reports Tuesday, September 4. The formal decision on extradition to Russia will be issued September 14, coming into force...