An iPhone user lost BTC worth $1M after downloading an iOS app called Trezor. Hoping to save his business during the pandemic, he purchased BTC.
The Monetary Authority of Singapore has issued a warning following a scam that saw Prime Minister Lee Hsien Loong embroiled in a token fraud on a local token trading platform.
Jose Angel Aman was sentenced in December 2020 to seven years in jail, in addition to paying $23 million in victim restitution.
Headed by Lado Okhotnikov, the Philippines-based Forsage allegedly targeted unsuspecting victims who were lured with promises of zero-risk investment, authorities said.
Benjamin Reynolds, the founder of Control-Finance, is accused of misleading investors to believe he would invest their BTC, which authorities said he pocketed.
Digital currency scams have varied over the years, ranging from those targeting victims’ greed such as “double-your-money” scams to those targeting intimidation such as extortion scams.
Delta Crypt has already been the subject of warnings from regulators, who claim the scheme has been “illegally offering securities paying ‘ridiculous’ returns.”
Minister for Industry and Technology Mustafa Varank says he has warmed up to digital currencies, which he described as “effective for world trade.”
Shawn Cutting is accused of raising millions of dollars off the back of false claims about his licensing status, and through misrepresenting investment returns and misappropriating investor money.
The lawsuit alleged that YouTube had “feigned ignorance” as XRP scams defrauded millions of dollars on the video sharing platform.
Sohrab Sharma, the co-founder of Centra Tech, reportedly relied on fake partnerships and endorsements from celebrities like boxing champion Floyd Mayweather to lure investors.