Javier Milei's presidential candidacy is marred by controversy over his involvement in an alleged Ponzi scheme that investors say cost them nearly $300,000 in an attempt to lure them out of inflation.
Satish Kumbhani, co-founder of BitConnect, plunged into deeper trouble as Indian police put him under investigation over a $2.4 billion scam that could land him 70 years in jail if proven guilty.
Rathnakishore Giri posed as an expert trader and lured over 150 investors to commit fiat and BTC, then used the money for lavish lifestyle, according to the Commodity Futures Trading Commission.
The assertion here is that the entire digital currency space needs a further washing out before any serious business using the technology can truly emerge.
U.S. securities regulators have charged 11 individuals for creating and promoting the “fraudulent crypto pyramid and Ponzi scheme” that is the Forsage ‘decentralized networking platform based on smart contracts.’
The game rose to fame after it was billed as a way out of poverty and racked up its biggest following in the Philippines, only to leave them in debt with its Ponzi-like model.
When someone promises to build a new innovative business which takes more effort? Fundraise via a token or NFT sale or actually build out the business? Anyone in this space knows the answer.
Zhao’s defamation lawsuit is a response to Modern Media Company’s publishing of the 250th issue of Bloomberg Businessweek, which led with the title “Changpeng Zhao’s Ponzi Scheme.”
The suit accuses Celsius as a Ponzi scheme and states that the lender refused to honor its contractual obligation to pay KeyFi.
Meta is shutting down its Novi wallet. The social media company is asking its users to withdraw their funds—either by transferring them to their bank accounts or withdrawing them as cash.
The CFTC brought charges against Cornelius Johannes Steynberg, CEO of Mirror Trading International Proprietary Limited (MTI), over operating an international fraudulent multi-level marketing scheme.
News broke early this week that a British Virgin Islands court had ordered Singapore-based digital currency hedge fund Three Arrows Capital (3AC) into liquidation.
