Cryptocurrency Ponzi Scheme

The Economic Offences Wing (EOW) of Odisha has arrested the Country Head of "Yes World Crypto Token," namely Sandeep Choudhary (40) from Jaipur. Choudhary is a native of Rajasthan's Jhunjhunu. The case was registered on October 16 under sections 420, 467, 468, 471 and 120-B of the Indian Penal Code and sections 4, 5 and 6 of the Prize Chits and Mon...

The Finance Ministry on Tuesday announced that it was applying anti-money laundering legislation to crypto trading, safekeeping and related financial services. The government has already levied more stringent tax rules on the crypto sector, including applying a levy on trading in 2022.

A total of 11 individuals in the US have been charged with whipping-up a crypto pyramid scheme, defrauding “millions of retailers”, and churning over $300 million (roughly Rs. 2,359 crore). Carolyn Welshhans, Acting Chief of the SEC’s Crypto Assets and Cyber Unit called Forsage a fraudulent pyramid scheme launched on a massive scale and aggre...

The US Securities and Exchange Commission (SEC) has charged 11 people for creating, and promoting a fraudulent crypto pyramid and Ponzi scheme. The scheme, Forsage, raised over $300 million (nearly Rs. 2,300 crores) from retail investors worldwide, including in the United States. Two of the defendants agreed to settle the charges and one of them ag...

The Securities and Exchange Commission said on Monday it charged 11 people for their roles in creating and promoting a fraudulentcryptopyramid and Ponzi scheme that raised over $300 million from retail investors worldwide, including in the United States.

Binance CEO Changpeng Zhao has sued Bloomberg and its Chinese subsidiary Modern Media Company for defamation. The Chinese edition of Bloomberg Businessweek put Zhao on the cover of its 250th issue recently and controversially titled it — ‘Changpeng Zhao’s Ponzi Scheme’.

Celsius Network, the US-based crypto lender is currently struggling to cope with the ongoing slump in the global crypto arena. The company has hired a new legal team from the Kirkland & Ellis LLP law firm to help it come out of its corporate malfunctioning. The newly appointed team of lawyers will advise the Celsius team on various options, which m...

A former investment manager at Celsius Network sued the crypto lender on Thursday, saying it used customer deposits to rig the price of its own crypto token and failed to properly hedge risk, causing it to freeze customer assets.

Crypto lender Celsius Network was served with lawsuit by a former investment manager, Jason Stone, accusing the firm of using customer deposits to rig the price of its own crypto token. Celsius allegedly ran a Ponzi scheme to defraud the plaintiff KeyFi into providing services worth millions of dollars and refusing to pay for them.

Ruja Ignatova, also known as the “missing Cryptoqueen”, has been placed on the FBI’s top ten most wanted list. The Bulgarian woman with German citizenship is wanted for her alleged role in running a cryptocurrency scam known as OneCoin.

Ruja Ignatova, the founder of Ponzi scheme OneCoin, has been added to Europe’s list of most wanted fugitives as of Wednesday. Ignatova is known for being the founding head of OneCoin, one of the biggest scams in the history of crypto, and the basis of the BBC podcast series, titled The Missing Cryptoqueen.

Crime Branch of Bengaluru on Monday arrested four persons for their alleged involvement in running a Helium Crypto Token (HNT) through a mobile application.

Enforcement Directorate (ED) on Tuesday said it has arrested an accused in connection with its money laundering probe against a Kerala-based businessman, who is alleged to have cheated more than 900 investors to the tune of Rs 1,200 crore in lieu of providing crypto currency to them.

The Enforcement Directorate has arrested an accused in connection with its money laundering probe against a Kerala-based businessman, who is alleged to have cheated more than 900 investors to the tune of Rs 1,200 crore

BitConnect founder Satish Kumbhani, charged criminally in the U.S. last week with a $2.4 billion Ponzi scheme, has vanished from his native India, officials said.

The Economic Offences Wing (EOW) of Odisha has arrested the Country Head of "Yes World Crypto Token," namely Sandeep Choudhary (40) from Jaipur. Choudhary is a native of Rajasthan's Jhunjhunu. The case was registered on October 16 under sections 420, 467, 468, 471 and 120-B of the Indian Penal Code and sections 4, 5 and 6 of the Prize Chits and Mon...

The Finance Ministry on Tuesday announced that it was applying anti-money laundering legislation to crypto trading, safekeeping and related financial services. The government has already levied more stringent tax rules on the crypto sector, including applying a levy on trading in 2022.

A total of 11 individuals in the US have been charged with whipping-up a crypto pyramid scheme, defrauding “millions of retailers”, and churning over $300 million (roughly Rs. 2,359 crore). Carolyn Welshhans, Acting Chief of the SEC’s Crypto Assets and Cyber Unit called Forsage a fraudulent pyramid scheme launched on a massive scale and aggre...

The US Securities and Exchange Commission (SEC) has charged 11 people for creating, and promoting a fraudulent crypto pyramid and Ponzi scheme. The scheme, Forsage, raised over $300 million (nearly Rs. 2,300 crores) from retail investors worldwide, including in the United States. Two of the defendants agreed to settle the charges and one of them ag...

The Securities and Exchange Commission said on Monday it charged 11 people for their roles in creating and promoting a fraudulentcryptopyramid and Ponzi scheme that raised over $300 million from retail investors worldwide, including in the United States.

Binance CEO Changpeng Zhao has sued Bloomberg and its Chinese subsidiary Modern Media Company for defamation. The Chinese edition of Bloomberg Businessweek put Zhao on the cover of its 250th issue recently and controversially titled it — ‘Changpeng Zhao’s Ponzi Scheme’.

Celsius Network, the US-based crypto lender is currently struggling to cope with the ongoing slump in the global crypto arena. The company has hired a new legal team from the Kirkland & Ellis LLP law firm to help it come out of its corporate malfunctioning. The newly appointed team of lawyers will advise the Celsius team on various options, which m...

A former investment manager at Celsius Network sued the crypto lender on Thursday, saying it used customer deposits to rig the price of its own crypto token and failed to properly hedge risk, causing it to freeze customer assets.

Crypto lender Celsius Network was served with lawsuit by a former investment manager, Jason Stone, accusing the firm of using customer deposits to rig the price of its own crypto token. Celsius allegedly ran a Ponzi scheme to defraud the plaintiff KeyFi into providing services worth millions of dollars and refusing to pay for them.

Ruja Ignatova, also known as the “missing Cryptoqueen”, has been placed on the FBI’s top ten most wanted list. The Bulgarian woman with German citizenship is wanted for her alleged role in running a cryptocurrency scam known as OneCoin.

Ruja Ignatova, the founder of Ponzi scheme OneCoin, has been added to Europe’s list of most wanted fugitives as of Wednesday. Ignatova is known for being the founding head of OneCoin, one of the biggest scams in the history of crypto, and the basis of the BBC podcast series, titled The Missing Cryptoqueen.

Crime Branch of Bengaluru on Monday arrested four persons for their alleged involvement in running a Helium Crypto Token (HNT) through a mobile application.

Enforcement Directorate (ED) on Tuesday said it has arrested an accused in connection with its money laundering probe against a Kerala-based businessman, who is alleged to have cheated more than 900 investors to the tune of Rs 1,200 crore in lieu of providing crypto currency to them.

The Enforcement Directorate has arrested an accused in connection with its money laundering probe against a Kerala-based businessman, who is alleged to have cheated more than 900 investors to the tune of Rs 1,200 crore

BitConnect founder Satish Kumbhani, charged criminally in the U.S. last week with a $2.4 billion Ponzi scheme, has vanished from his native India, officials said.