China Discovers Major Crypto Laundering Scam, Police On Arrest Spree
The Chinese government has never supported crypto activities since the emergence of the industry. The People’s Bank of China took further actions against the digital industry and banned all local digital assets operations. Since the crypto ban in China, the government never stopped ringing a reminder that no digital activity can thrive in the country. […]
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Police administration in Taiwan arrested 14 people that were allegedly involved in a cryptocurrency investment scam. This scam defrauded more than 100 people out of about NT$150 million (US$5.41 million) over the past year. Local Taiwan news site – The Taipei Times – reported this news on Monday. According to the report, the Criminal Investigation Bureau (CIB) […]
Europol worked with Spain’s Civil Guard and Catalan police to arrest six suspects aged in connection with the scheme.
Local authorities in Taiwan are said to have arrested a man believed to have orchestrated a bitcoin trading platform scam. Central News Agency reports that a man identified only as Ho defrauded as many as 49 customers out of roughly $300,000 after promising outsized returns on a bitcoin margin trading platform. Reports indicate that Ho told investors in January 2015 that they would receive a windfall after "major market players" bought their bitcoins at a higher price. Yet, Ho appears to have done the opposite, according to the report, which stated: "Ho simply changed the....
The U.K. police have returned over $5.4 million to victims of an international cryptocurrency scam. The police say that almost $10 million more will be returned to victims. So far, 127 more people have filed a claim to recoup their investments.
Police Return Funds to Crypto Scam Victims
The U.K.’s Greater Manchester Police (GMP) announced Friday that about $5.4 million of the funds seized from an international cryptocurrency scam rumbled by its police officers in July last year have been returned to rightful owners. The announcement details:
Over four million pounds....
A massive police operation took place in Istanbul, Turkey, against a Chinese gang’s crypto scam. Authorities found that criminals kidnapped 101 people and forced them to run scam operations. Scammers Tricked Hostages by Promising Them Work in a Legit ‘Crypto Investment Consultancy’ According to Demirören Haber Ajansı, Istanbul police cracked down a fake “crypto investment consultancy” agency that allegedly hired these 101 people to run the scheme. In reality, the gang turned out to be a massive criminal operation, as they held hostage the employees....