Investigations Ongoing for Bitcoin Ponzi Scheme in Thailand

Investigations Ongoing for Bitcoin Ponzi Scheme in Thailand

Bitcoin has been subject to a lot of fraudulent activity, owing partly to the decentralized and anonymous nature of cryptocurrency transactions. In addition to hacking attacks and bitcoin wallet theft, the digital currency has also been used as a means of money transfer in Ponzi investment schemes. In Thailand, local news reports showed that the police have conducted a raid on a condominium building at Ratchadaphisek Road on allegations that an investment scheme was being conducted in the area. The suspect, who is Malaysian, has been blocked access to 13 rooms in the building. Bitcoin....


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Quotes

I am here to testify because I believe that global digital currency represents one of the most important technical and economic innovations of our time... As this technology moves from early adopters into mainstream acceptance, it is critical in my view that Federal and State governments establish policies surrounding digital currency.

Jeremy Allaire, the chief executive of Circle Internet Financial