Investment Crypto Fraud

The FBI Internet Crime Complaint Center received nearly 69,500 complaints from consumers in the US and abroad last year. Call center frauds, such as government impersonation scams, accounted for about 10 percent of cryptocurrency losses.

Crypto scammers have been found impersonating BlackRock officials to deceive their victims. In investment scams, fraudsters often use limited-time offers to pressure victims, making the lure of a substantial reward overshadow their better judgment. BlackRock has released an urgent warning to the crypto community.

A 60-year-old man lost Rs 30.80 lakh in online cryptocurrency investment fraud, police said on Saturday.

The Special Investigation Team (SIT) probing the multi-crore cryptocurrency fraud case in Himachal Pradesh has arrested seven more persons for their involvement in luring unsuspecting victims with fake investment plans, police said on Tuesday.

New York Attorney General Letitia James on Thursday sued cryptocurrency firms Genesis Global, its parent company Digital Currency Group (DCG) and Gemini for allegedly "defrauding" investors of more than $1 billion.

A crypto scammer reportedly connected with a Mumbai-based woman on a matrimonial site last year and stole Rs. 24 lakh from her. The conman told the victim that he was a US-based engineer, convinced her to invest in a crypto firm. He later connected her to a ‘guide’, who was set up to assist the woman with her investments.

Former customers of FTX crypto exchange have sued three venture capital and private equity firms, accusing them in a proposed class action of fraudulently promoting the cryptocurrency exchange before it went bankrupt. According to a complaint filed late Tuesday in San Francisco federal court, Sequoia Capital, Thoma Bravo and Paradigm were "incentiv...

A 28-year-old resident of Thane city in Maharashtra lost Rs 10.55 lakh to a cyber conman who lured him to invest in bitcoins on the false promise of earning huge returns, an official said on Monday.

Authorities in Estonia have arrested two men on suspicion of defrauding $575 million (roughly Rs. 4,700 crore) from hundreds of thousands of people, police said on Monday. The joint operation involved more than 100 police officers, including around 15 US federal agents. According to a statement by the authorities, "invited people to invest in their...

More than 30 people from Solapur city in Maharashtra have allegedly been cheated of Rs 45 lakh after they invested through a crypto cloud mining app, police said on Tuesday citing complaints.

Citron Research founder Andrew Left on Monday called cryptocurrencies a “fraud”. Speaking at a conference about fraud financial markets where he saw potential fraud, Left said "I think crypto is just complete fraud, over and over and over." One of the world’s best known short sellers, Left did not reveal whether he had any investments in cryp...

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.

The founder of now-defunct cryptocurrency investment platform BitConnect has been indicted by the US Department of Justice on charges of orchestrating a global ponzi scheme worth $2.4 billion (roughly Rs. 18,110 crore).

The number of arrests in a Rs 40 crore cryptocurrency fraud in Nagpur in which over 2,000 investors were duped reached 11 on Sunday, a day after the main accused, his wife and two associates were held from Lonavala in Pune, police said.

The FBI Internet Crime Complaint Center received nearly 69,500 complaints from consumers in the US and abroad last year. Call center frauds, such as government impersonation scams, accounted for about 10 percent of cryptocurrency losses.

Crypto scammers have been found impersonating BlackRock officials to deceive their victims. In investment scams, fraudsters often use limited-time offers to pressure victims, making the lure of a substantial reward overshadow their better judgment. BlackRock has released an urgent warning to the crypto community.

A 60-year-old man lost Rs 30.80 lakh in online cryptocurrency investment fraud, police said on Saturday.

The Special Investigation Team (SIT) probing the multi-crore cryptocurrency fraud case in Himachal Pradesh has arrested seven more persons for their involvement in luring unsuspecting victims with fake investment plans, police said on Tuesday.

New York Attorney General Letitia James on Thursday sued cryptocurrency firms Genesis Global, its parent company Digital Currency Group (DCG) and Gemini for allegedly "defrauding" investors of more than $1 billion.

A crypto scammer reportedly connected with a Mumbai-based woman on a matrimonial site last year and stole Rs. 24 lakh from her. The conman told the victim that he was a US-based engineer, convinced her to invest in a crypto firm. He later connected her to a ‘guide’, who was set up to assist the woman with her investments.

Former customers of FTX crypto exchange have sued three venture capital and private equity firms, accusing them in a proposed class action of fraudulently promoting the cryptocurrency exchange before it went bankrupt. According to a complaint filed late Tuesday in San Francisco federal court, Sequoia Capital, Thoma Bravo and Paradigm were "incentiv...

A 28-year-old resident of Thane city in Maharashtra lost Rs 10.55 lakh to a cyber conman who lured him to invest in bitcoins on the false promise of earning huge returns, an official said on Monday.

Authorities in Estonia have arrested two men on suspicion of defrauding $575 million (roughly Rs. 4,700 crore) from hundreds of thousands of people, police said on Monday. The joint operation involved more than 100 police officers, including around 15 US federal agents. According to a statement by the authorities, "invited people to invest in their...

More than 30 people from Solapur city in Maharashtra have allegedly been cheated of Rs 45 lakh after they invested through a crypto cloud mining app, police said on Tuesday citing complaints.

Citron Research founder Andrew Left on Monday called cryptocurrencies a “fraud”. Speaking at a conference about fraud financial markets where he saw potential fraud, Left said "I think crypto is just complete fraud, over and over and over." One of the world’s best known short sellers, Left did not reveal whether he had any investments in cryp...

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.

The founder of now-defunct cryptocurrency investment platform BitConnect has been indicted by the US Department of Justice on charges of orchestrating a global ponzi scheme worth $2.4 billion (roughly Rs. 18,110 crore).

The number of arrests in a Rs 40 crore cryptocurrency fraud in Nagpur in which over 2,000 investors were duped reached 11 on Sunday, a day after the main accused, his wife and two associates were held from Lonavala in Pune, police said.