Filecoin pyramid scheme sees China charges four in $83 million fraud
The defendants allegedly claimed to be mining FIL, the native token of the Filecoin network, but pocketed the money while paying out some early investors.
The defendants allegedly claimed to be mining FIL, the native token of the Filecoin network, but pocketed the money while paying out some early investors.
TRM Labs reports that a further $1.5 billion worth of digital assets was used in darknet markets, as TRON held a 92% share in ‘crypto’ terrorist financing.
The walls are caving in for the executives of Sri Lankan investment platform Sports Chain as authorities fight to have them prosecuted for allegedly defrauding customers.
The securities regulator said Hero Mining does not have the required license to offer investment contracts, warning members of the public of potential losses from the company's Ponzi-like scheme.
The three are the first to stand trial in Europe over the $4 billion digital asset pyramid scheme, as reports claim Ruja was tipped off before she vanished.
A rags to riches man was embroiled in an alleged Ponzi scheme, with investors accusing him of ripping them off worth billions of assets, which is suspected to have funded his extravagant lifestyle.
The so-called Bitcoin Pharaoh was arrested in August last year for defrauding over 27,000 Brazilians in a pyramid scheme that promised guaranteed 10% monthly returns.
A lengthy prison term and a hefty fine await individuals affiliated with and promoting Peak Finance, an unlicensed platform that piqued the interest of many due to a promise of mouthwatering returns.
Investment schemes have been around for a very long time. Modern investment fraud goes back into the 1800s, and fractional reserve bank runs go back to at least the 1600s.
A Dogecoin investor has sued the Tesla and SpaceX boss, alleging that Elon Musk engaged in a pyramid scheme by promoting DOGE on Twitter and through his firms.
Just days since it issued a warning against Leefire, the SEC says that the same activities are now being propagated through Sengre, which sells SGC Coin.
Mining Capital Coin lured investors with promises of guaranteed returns but ended up defrauding them of over $62 million, according to U.S. federal authorities.