Tag: fraud

The Terraform Labs CEO is now facing fraud charges in South Korea, the Securities and Exchange Commission and federal prosecutors in New York. Terraform Labs CEO Do Kwon has been charged with fraud by United States prosecutors in New York, just hours after he was reportedly arrested in Montenegro. In a court filing signed by United…

French police arrested two individuals in connection with the Platypus exploit in the month of February. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. DeFi will be in focus during the inaugural Commodity Futures Trading Commission (CFTC) tech advisory…

According to the Department of Justice, Forsage employed smart contracts that were coded in ways consistent with a Ponzi scheme. The founders behind the alleged $340 million “global Ponzi” scheme Forsage have been indicted by a federal grand jury in the District of Oregon. The four Russian founders — Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev…

Nearly 10,000 tokens launched on BNB and Ethereum last year are suspected to have been created just to dump on investors, according to Chainalysis. Cryptocurrency investors funneled as much as $4.6 billion into crypto tokens suspected to be part of “pump and dump” schemes in 2022. A Feb. 16 report from blockchain analytics firm Chainalysis “analyzed all…

A report suggests companies are able to register in the U.K. very easily, making them appear more credible to potential scam victims. The United Kingdom is host to at least 168 companies accused of running fraudulent crypto or foreign exchange (forex) scams, according to an independent analysis. A joint investigation by media firms the Bureau of Investigative…

Randall Crater was ordered to pay back the millions lost by victims of his fraudulent crypto scheme and spend 100 months in jail followed by a three-year supervised release. Founder of “My Big Coin” Randall Crater has been sentenced to 100 months in prison and ordered to pay over $7.6 million to the victims of…