Over 70 Bitcoin Scams Shut Down By New York Law Enforcement
More than 70 websites promising unrealistically high returns on bitcoin investments have been shut down by the New York County District Attorney's office. As originally reported by Bloomberg News, 73 sites were taken offline on 16th January by the office, including BitcoinHYIP.org and others owned by a company called YouYou Finance. The defendants are accused of securities fraud and intent to commit fraud, as well as larceny charges, according to documents provided to CoinDesk. The investigator explained the background of his investigation into high-yield investment schemes based on....
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FinCEN has awarded the New York State Police Department for finding irregularities in fund deposits to catch a suspect dealing drugs with bitcoin. The Financial Crimes Enforcement Network (FinCEN) has conferred law enforcement awards to multiple law enforcement agencies including Internal Revenue Service – Criminal Investigation (IRS-CI), US Customs and Border Protection, Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) and the New York State Police Department. The recent press release by FinCEN offers more information about the cases for which these....
With the myriad of altcoins being introduced these days, some investors have had trouble telling which ones are legitimate and which ones are bitcoin scams. In South Korea, law enforcement officials have begun investigations on alleged pump-and-dump schemes wherein demand and volumes are artificially boosted before the altcoin is out of existence. In addition, the Bank of Korea extended its support to local authorities that are investing bitcoin scams and related Ponzi schemes. There are approximately 700 altcoins in existence according to coinmarketcap.com but less than half of these have....
The Department of the Interior of Uruguay is taking steps to warn users about the danger they face when investing in certain crypto projects that could be scams. The campaign is called “Fake Coins: Cryptocurrency Scams” and seeks to educate the population about the most common kinds of crypto scams.
Uruguay Educates on Crypto-Related Scams
More and more government bodies are becoming aware of how some parties are using crypto to execute different kinds of scams, and also more of these institutions are working to educate citizens on this fact. The Ministry of the....
According to various reports the largest online marketplace located on the deep web, Alphabay, was seized by International law enforcement. The Biggest Darknet Market on the Deep Web Has Been Shut Down By International Authorities. On July 11 Bitcoin.com reported on the Alphabay darknet marketplace going offline for over a week. In that report, we....
The government of Singapore has revealed the number of crypto scams reported to the police in the past three years. “The vast majority of cryptocurrency scams are perpetrated by scammers based outside Singapore. As such, there is a limit to how much law enforcement agencies in Singapore can do,” said Singapore’s minister for home affairs. Singapore Government’s Data on Cryptocurrency Scams The Singaporean government has revealed the number of reports related to cryptocurrency scams the police received in the past three years. In a written reply to a parliamentary....