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Court Summons Mirror Trading International Executives Over BTC Global Scam Allegations

Two executives of Mirror Trading International (MTI) have been summoned by a high court in connection with another cryptocurrency investment scam called BTC Global. The court summons followed a civil lawsuit filed by 18 plaintiffs demanding compensation from them. Two MTI Executives Linked to BTC Global Scam A High Court summons was issued to Clynton Marks, Cheri Marks, and Andrew Caw in connection to a bitcoin investment scam called BTC Global, South African news outlet Mybroadband reported last week, noting that it has seen the court document. The court summons followed a civil lawsuit filed by 18 plaintiffs demanding compensation…

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Irish Police Investigate Massive Bitcoin Scam That Allegedly Stole Millions From High-Net-Worth Individuals

Irish police are on high alert due to the rising number of cases related to a bitcoin-related scam targeting high-net-worth people in the country. The situation has become worrisome because suspicious high-value transactions have already been noticed by authorities. Authorities Already Searched One Property Tied to One of the Suspects According to The Irish Times, Gardaí (Ireland’s police) investigates what they consider a major crypto scam whose criminals could be residing in the country. A local bank already raised concerns about a suspicious transaction of 500,000 euros ($586,500) from a dormant account. After inquiries conducted by Gardaí on the older…

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Irish Police Launches Investigation Over Suspected BTC Fraud

The Irish police launched an investigation into a suspected Bitcoin fraud that targeted high-net-worth individuals as we can see more in our latest Bitcoin news today. Gardai or the Irish police, are investigating a fraudulent scheme that is disguised as a BTC investment opportunity. The victims transferred a few million Euros in BTC to wallets that were controlled by the suspects. The police invested an alleged “major fraud” where the suspects duped high-net-worth individuals into investing huge sums of BTC and took control of their wallets. The value of cryptocurrency received by illicit entities declined sharply in 2020. Image ChainalysisThe…

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Instagram Influencer Scammed Hundreds Of His Followers: Report

An Instagram influencer scammed thousands of his followers out of millions of Bitcoin while the price of the coin rises more with more investors piling up and looking for profits as we see more today in our latest Bitcoin scam news. The scammers are not always showing up behind fake accounts or cyber hackers. Some have their own profiles that thousands of followers on social media. With the developing story involving an Instagram influencer, we can see that the scammers are getting latched on BTC as well as this one scammed his followers out of thousands of dollars. As Bitcoin…

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Instagram Influencer Charged for Allegedly Stealing Millions of Dollars in Bitcoin From Followers

A popular Instagram personality has been charged in the U.S., accused of stealing bitcoins worth millions of dollars from his followers. He allegedly convinced the “victims to sell him their bitcoin at attractive, but inflated, values” but he never wired them the money for the coins sent to him. Instagram Influencer’s Bitcoin Scam The U.S. Department of Justice (DOJ) announced Wednesday that a popular Instagram personality known as “Jay Mazini” has been charged with wire fraud related to a bitcoin scam. The Justice Department wrote: A complaint was filed in federal court in Brooklyn yesterday charging Jegara Igbara, also known…

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UK Man Has To Pay $570 Million For Fraudulent BTC Trading Scheme

A UK man has to pay more than $570 million for running a fraudulent BTC trading scheme according to the reports by the CFTC as we read more in our latest crypto news today. The UK man solicited at least 22,190.542 BTC valued at around $143 million at the time from about 1000 customers worldwide. The US District Court for the Southern District of New York entered into a judgment against the UK man for running a fraudulent scheme where he solicited BTC from members of the public and misappropriated that gathered BTC as the Commodity Futures and Trading Commission…

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50 Cent Partner Jay Mazini Accused Of Running $2.5M BTC Scam

50 cent partner and social media influencer Jay Mazini was charged by federal prosecutors for running a $2.5 million Bitcoin fraud on Instagram as we read more in our latest Bitcoin scam news. Jay Mazini or Jebara Igbara which is his real name allegedly exploited his Instagram followers in a BTC scheme. The special agent in charge of the case Jonathan D.Larsen at the Internal Revenue Service-Criminal Investigation said:  “This defendant allegedly used his online popularity to defraud those seeking to exchange Bitcoin for cash above the market value. Always be on your guard and don’t fall prey to these…

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Study Finds Cryptocurrency Scams Surged 40% in 2020, Forecasts an Increase of 75% in 2021

A new study revealed that cryptocurrency-related scams almost doubled over the last year. However, forecasts are not optimistic going forward, as the report forecasts another significant increase in the number of cases in 2021. Research Scanned Over 300 Million Websites According to the “Cryptocurrency Scam Report” published by fraud prevention company Bolster and shared with Bitcoin.com News, the correlation with the surge of cryptos’ popularity and the coronavirus pandemic boosted the figures of crypto scams in 2020. Bolster analyzed over 300 million websites and found out that more than 400,000 crypto scams were created over the last year. In fact,…

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Instagram influencer charged over duping followers out of $2.5M BTC

A social media influencer known for “cash giveaways” has failed to show the money in alleged Bitcoin wire fraud scheme. An Instagram influencer has been charged with wire fraud, after he allegedly scammed followers out of $2.5 million worth of Bitcoin. Social media influencer Jay Mazini, who boasted of a net worth of $33 million and is known for “cash giveaways”, is accused by the Department of Justice of operating a wire fraud scheme in which he duped some of his 1 million followers to send him Bitcoin in exchange for inflated cash offers, which he failed to pay properly.…

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Indian Police Probe Crypto Exchange and Founders Allegedly Running a Scam

Delhi police are reportedly investigating a cryptocurrency exchange and its executives allegedly duping Indian investors after receiving multiple complaints. The complainants further say the company has moved office overseas without returning their investments. Police Investigate Crypto Scam After Multiple Complaints Forty-three people have filed complaints with the Delhi Police regarding a cryptocurrency investment scheme based out of Connaught Place, a financial hub in New Delhi, local news outlet Millennium Post reported this week. The Economic Offences Wing of the Delhi Police subsequently launched an investigation into Pluto Exchange and seven of its executives, whom investors have identified as being behind…

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New Bitcoin Scam Uses Michael D. Higgins In Fake Endorsement

Bitcoin is on the rise and gaining enormous popularity these days, and even the Biggest Bitcoin skeptics can’t dispute this fact. In fact, Kraken just obtained a permit to open the first Bitcoin Bank in the world, and many investors are looking to diversify their portfolio since they believe virtual currencies are the future of the global economy. This fact has not escaped the attention of scammers who are piggybacking on Bitcoin’s popularity and the massive mediate media exposure its constantly receiving. Continue reading New Bitcoin Scam Uses Michael D. Higgins In Fake Endorsement at Smartereum.

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The Tell Tale Signs of a Scam Crypto Website: Bitcoin-Up.Live

From late March 2020, when the global pandemic Covid-19 paralysed many economies, the appeal of cryptocurrencies has grown. Several statistics show increased interest from downloaded wallet apps to peer-to-peer traded volumes. In many ways, this interest in bitcoin and altcoins is evidence that the policies of central banks are failing. Many professional investors, as well as ordinary people, are losing confidence in fiat currency systems. However, many that are exploring the idea of investing in crypto alternatives are falling victim to scams. It seems more scam crypto sites are roaming the space than bonafide cryptocurrency businesses. It turns out that…

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US Man Pleads Guilty in $722 Million Bitclub Network Ponzi Scheme Case

A Bitclub Network Ponzi scheme promoter has admitted to charges of selling unregistered securities and to subscribing to a false tax return in connection with his role in the $722 million fraud scam. The man, Joseph Frank Abel, pleaded guilty by video conference before U.S. District Judge Claire C. Cecchi. The U.S. citizen becomes the second person to plead guilty to charges relating to the scam after Romanian Silviu Catalin Balaci’s admission in July. Abel was initially charged by indictment in December 2019 along with four other co-defendants soon after their arrest. According to the statement released by U.S. Attorney,…

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Russian Man Offered $1 Million In BTC To Plant Malware On PC Company

A Russian man offered people $1 million in BTC while trying to recruit someone to plant malware on a computer company network. The man tried to enlist other people to install the malware on a Nevada Company’s network so let’s find out more in the Bitcoin scam news. Egor Igorevich Kriuchkov offered to pay an employee at a Nevada company $1 million in BTC to install malware on the computers of the company. The plans never came true as the employee opted to report the Russian national to the FBI instead. According to the court documents, the US Department of…

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Ryanair CEO Says Bitcoin Is A Ponzi Scheme After New Scam Emerged

The Ryanair CEO said Bitcoin is a Ponzi Scheme after a fraudulent BTC scam that uses fake celebrity success stories encouraging people to take part in their money and he was also used in this scam so let’s find out more in today’s BTC news. Scammers used the likeness of the Ryanair CEO as being the leader of a budget airline to promote a fraudulent Bitcoin auto-trading site. However, he hates bitcoin and urges people to avoid it like the plague. The CEO is the latest celebrity whose likeness has been used to promote a Fake BTC-auto trading scheme similar…

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US-DOJ Executes Seize Warrant For 482BTC From Alleged Ponzi Scheme

The US-DOJ executed a seizure warrant for 482 Bitcoins and an additional 1.7 million USDT from an alleged Ponzi scheme administrator as we are reading more in the upcoming crypto news. The US-DOJ, (United States Department of Justice) filed a complaint against an alleged crypto Ponzi scheme to forfeit in more than $7 million in Tether and BTC. The administrator of the scam named “Bana Fund” used some of the raised funds for personal benefit including buying a house. According to the official complaint the administrator of the scam marketed the company to investors as a platform for startups to…

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Alexander Vinnik Facеs Trial In France For Laundering 300K BTC

Alexander Vinnik faces trial in France according to the latest Court order, for laundering 300,000 Bitcoins through the crypto exchange BTC-e. Following our latest Bitcoin scam news, we find out more about the court decision. The Russian National accused of laundering 300,000 BTC Alexander Vinnik faces a trial in France first. According to the news Agency France-Presse, the Paris Judge ordered the Russian national to stand trial for extortion, criminal association, money laundering and fraudulently accessing data and modifying it in a data processing system. The AFP stated that the French authorities accused Vinnik of defrauding more than 100 people…

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Travel Management Company Ended Up Paying $4.5M BTC Ransom

The travel management company CWTC ended up paying a $4.5 million bitcoin ransom to regain access to its computers. The ransomware hackers initially demanded $10 million to restore the computers and to delete the stolen data as we reported in the previous Bitcoin Scam news. The US-based travel management company CWT paid the hackers a $4.5 million ransom and representatives explained that they paid 414 Bitcoins to the hackers which is $4.5 million at the time in two transactions. The blockchain data shows the criminals transferred the funds to a different address in less than an hour. The attackers said…

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