Florida man faces fraud charges over $7.3M digital currency app scam
The SEC announced the charges against Aron Govil of Jacksonville, Florida, who is accused of defrauding investors in his two companies—Telidyne Inc. and Cemtrex Inc.
Latest scam News
BTC investor sues T-Mobile over alleged SIM swap fraud
T-Mobile failed in its duty to protect its users and resulted in the plaintiff’s loss of $55,000 worth of BTC, according to the lawsuit filed in Pennsylvania.
Suspects behind $54M AI-based digital currency scam in Japan arrested
Oz Project claimed to guarantee users that they would get 100% of the principal they put in as well as “2.5 returns on their investment in four months,” according to local media reports.
Africypt BTC scam: South Africa regulators, banks and exchanges play blame game
Africrypt was a digital currency investment company targeting the rich and celebrities, until founders Raees and Ameer Cajee claimed earlier this year to be hacked and lost all the investors’ money.
BitConnect scam US promoters to be hit with $3M settlement by SEC: report
The regulator charged six promoters in May, and as per a new report, it’s set to settle with four of these, with penalties ranging from $526,000 to $3 million.
DROP token creators plead guilty to $1.8M ICO scam, settle with SEC
The two raised $1.9 million by selling over 600 million native tokens, all while issuing false statements, presenting fake profitability statements and making unattainable promises to the investors, authorities said.
Brazil’s ‘Bitcoin King’ arrested over alleged $300M embezzlement
Claudio Oliveira was the president of the Bitcoin Banco Group, a Brazilian digital currency brokerage company that reportedly lost over 7,000 BTC following an alleged hack in 2019.
8,000 BTC from South Africa’s Mirror Trading International scam recovered: report
Mirror Trading International grabbed headlines after it allegedly scammed 280,000 investors by posing as a multi-level marketing scheme, promising get-rich-quick returns for the investors.
South African regulator to declare digital currencies as financial products after $3.8B scam
The Financial Services Conduct Authority is seeking to categorize digital currencies as a financial product, giving it jurisdiction over the industry and allow it to protect investors.
Founders of alleged scam Africrypt deny involvement in $3.8B ‘hack’
Africrypt targeted high-net worth individuals and celebrities, promising them ludicrous returns, according to reports in South Africa.
South Africa BTC scam Africrypt makes off with $3.8B, asks victims not to report
South African investors are still in shock after a digital currency scam reportedly made off with R54 billion ($3.8 billion) and blamed it on a hack.
UK TSB Bank calls out ‘lax’ Binance & Kraken, bans purchases
TSB Bank is concerned about the increase in scammers allowed to set up their e-wallets on digital currency platforms, particularly Binance and Kraken exchanges.