A recent study prepared by ICO advisory firm Statis Group revealed that more than 80 percent of initial coin offerings (ICOs) conducted in 2017 were identified as scams. The study took into consideration the lifecycle of ICOs run in 2017, from the initial proposal of a sale availability to...
Billionaire entrepreneur and engineer Elon Musk has recently called attention to scam bots that impersonate famous people on Twitter to steal Ethereum (ETH) and other cryptocurrencies from their victims. Ethereum’s co-founder Vitalik Buterin subsequently reacted to Musk’s tweet, suggesting on July 9 that CEO of Twitter Jack Dorsey should take...
According to court documents filed July 3, YouTube has been added as a defendant in a class action lawsuit against BitConnect. The lawsuit was initially filed on January, 24 by six individuals represent by law firm Silver Miller. The claimants state that crypto investment platform BitConnect issued crypto tokens that...
An official from Indian opposition party the Indian National Congress (INC) has demanded a probe into a “mega Bitcoin scam,” The Hindu reports July 5. The scam supposedly involves leaders of the majority Bharatiya Janata Party (BJP). Senior INC member Shaktisinh Gohil alleged that BJP officials were complicit in a...
More than a thousand of crypto projects are “already dead” as of June 30, 2018, according to a recent TechCrunch report. The news outlet has based its claim on data from two websites: Coinopsy and DeadCoins. Coinopsy provides daily reviews of various cryptocurrencies, including ones that are already “dead.” It...
U.S. law enforcement has seized $17 mln in Bitcoin (BTC) and other cryptocurrencies, and is seeking to seize about $24 mln more, from two Maryland, USA men, on charges of selling counterfeit drugs on the dark web, according to a Department of Justice (DoJ) press release published yesterday, June...
Ukrainian police have arrested a group of four men suspected of running six fake cryptocurrency exchanges, Bleeping Computer reported June 21. Four men between ages 20 and 26 allegedly launched at least six digital currency exchanges, where they deceived users, subsequently stealing money from them. The alleged culprits lured users...
The U.S. Securities and Exchange Commission (SEC) has received an additional emergency court order to freeze the assets of Dominic Lacroix, owner of PlexCorps, in an ongoing enforcement action, Crowdfund Insider reported June 20. The SEC had previously sued Lacroix for securities fraud and received an emergency asset freeze...
The South Korean Ministry of Science and Technology (MIC) has launched an investigation into the theft of $30 mln from the world’s sixth largest crypto exchange Bithumb, Yonhap News reports Wednesday, June 20. Bithumb, which is the leading crypto exchange in South Korea, temporarily suspended all deposits and payments on...
Hackers have stolen cryptocurrencies worth $30 million from South Korea's leading virtual currency exchange Bithumb, Cointelegraph Japan reported June 19. As a result all deposits and payments have been temporarily suspended. *All deposit and withdrawal service will be stopped to make sure the security. We will keep notice you of...