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SafeMoon charged in $5.7 billion ‘crypto’ scam
The U.S. securities regulator accused the three SafeMoon executives of perpetrating a scam in which they withdrew $200 million to purchase sports cars and pay for a lavish lifestyle.
The U.S. securities regulator accused the three SafeMoon executives of perpetrating a scam in which they withdrew $200 million to purchase sports cars and pay for a lavish lifestyle.
Police in Hong Kong and Macau announced four more arrests stemming from the apparent rug-pull by the Dubai-based JPEX, which left over 2,400 Hong Kong-based customers fearing a combined loss of US$191.5 million in assets held on the exchange.
In a classic rug pull, Aurelien Michel allegedly absconded with the funds and abandoned the Mutant Ape Planet project, leaving thousands of investors with worthless digital collectibles.
The cases include an NFT rug pull, a fraudulent investment fund, an unregistered digital currency security Ponzi scheme, and a fraudulent ICO.
Senate Bill S8839 and Assembly Bill A8820 both call for the defining, criminalizing, and penalizing digital currency projects designed to fleece investors.
The two 20-year-old men, who were arrested in California, allegedly sold 8888 NFTs in early January before abandoning the project and vanishing with the ETH from investors.
Squid Game had several red flags and investors could have easily seen through the vague promises of a gaming metaverse, yet quick riches lured them in.
The Compounder Finance team has rugged pulled its user community and stolen over $10 million dollars right from under their noses.