Category: ponzi scheme

Nigerian Pop Artist Shills Meme Coin and Price Briefly Doubles — Followers Question Artist’s Motives

Nigerian Pop Artist Shills Meme Coin and Price Briefly Doubles — Followers Question Artist’s Motives

The Nigerian pop artist and celebrity, Davido, recently posted several tweets endorsing ‘rapdoge,’ the so-called “first deflationary meme token fully supported by celebrities & rappers.” In one of the tweets, Davido tells his 9.5 million followers to “buy $20, $100 or $1000 worth of rap doge tokens and be ready to make some money.” Pump […]

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8,000 BTC Belonging to Mirror Trading International Traced, Investors Urged to Lodge Claims

8,000 BTC Belonging to Mirror Trading International Traced, Investors Urged to Lodge Claims

A total of 8,000 bitcoins belonging to Mirror Trading International (MTI) have been traced while an additional 29,000 bitcoins could soon meet a similar fate. The traced coins, which are valued at over $280 million (4 billion rand), represent a potential breakthrough for beleaguered MTI investors. Liquidators Want Court to Declare MTI a Ponzi Scheme […]

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There Are Now Twice as Many 2021 ‘Bitcoin Deaths’ Compared to 2020’s BTC Obituaries List

There Are Now Twice as Many 2021 ‘Bitcoin Deaths’ Compared to 2020’s BTC Obituaries List

Bitcoin is down in value 45% since the crypto asset’s all-time high (ATH) three months ago and the downward movement has ignited significant speculation about another bear market. Other skeptics believe that bitcoin has died, as the web page that hosts bitcoin obituaries indicates 2021 bitcoin deaths have doubled in comparison to all the bitcoin […]

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Europol Cracks Down on Vitae Belgian Ponzi Scheme, Recovers €1.5 Million in Crypto

Europol Cracks Down on Vitae Belgian Ponzi Scheme, Recovers €1.5 Million in Crypto

Europol, the EU law agency, cracked down on Vitae, a Belgian Ponzi scheme. Europol raided 17 locations related to the website, promoted as a social media site with its own cryptocurrency. The company operated in Switzerland under the name VITAE AG. Law enforcement officials recovered €1.1 million in cash and €1.5 million in cryptocurrency during […]

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Fleeing Lynchpin of Nigerian Crypto Ponzi Scheme Inksnation Captured

Fleeing Lynchpin of Nigerian Crypto Ponzi Scheme Inksnation Captured

The lynchpin of Inksnation, one of Nigeria’s biggest crypto Ponzi Schemes, Omotade-Sparks Amos Sewanu, has been captured. According to Nigeria’s Economic and Financial Crime Commission (EFCC), Sewanu, who was on the run, was nabbed in Sokoto, a city located in the northwest part of the country. Still, in its May 28 Twitter statement, the EFCC […]

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National Court of Spain Takes the Investigation of the Alleged Ponzi Crypto Scheme Arbistar

The investigation against an alleged major Spanish Ponzi crypto scheme will now be in charge of the National Court of Spain. A judge from the national legal instance is now taking the investigation of Arbistar after the inhibition of a judge in Tenerife. Economic Damages Could Reach Over $120 Million According to El País, judge […]

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Operator of Ponzi scheme-turned-crypto scam sentenced to prison after trial in US

Operator of Ponzi scheme-turned-crypto scam sentenced to prison after trial in US

Jose Angel Aman was sentenced to 84 months in federal prison on Wednesday or his involvement in a Ponzi scheme-turned-crypto scam. Aman and his partners allegedly promised investors that they would purchase rough-colored diamonds that could then be sold at a profit — assuring, in that sense, that their professed $25 million diamond stash was […]

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Mastermind of Bitcoin Mining Ponzi Scheme Extradited to the US: $20 Million in Victims’ Funds Laundered

Mastermind of Bitcoin Mining Ponzi Scheme Extradited to the US: $20 Million in Victims’ Funds Laundered

The US government says it has extradited Gutemberg Dos Santos, the co-founder of the Airbit Club Ponzi scheme from Panama and he now awaits his trial in a Manhattan court. Dos Santos is facing charges relating to his role in perpetuating a “cryptocurrency” scam which defrauded victims of “tens of millions of dollars.” Fraudulent Claims […]

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Chinese Police Seize $4.2 Billion in Multiple Cryptocurrencies From Plustoken Ponzi Clampdown

Chinese Police Seize $4.2 Billion in Multiple Cryptocurrencies From Plustoken Ponzi Clampdown

Chinese police have seized more than $4.2 billion worth of crypto assets in its clampdown against the Plustoken Ponzi scheme. According to a court ruling made public on Nov. 26, and shared by The Block, law enforcement confiscated a total of 194,775 bitcoin (BTC), 833,083 ether (ETH), 1.4 million litecoin (LTC), and 27.6 million EOS. […]

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Nigerian Authorities Put Mastermind of the Inksnation Crypto Scam on Wanted List

Nigerian Authorities Put Mastermind of the Inksnation Crypto Scam on Wanted List

Nigeria’s Economic and Financial Crimes Commission (EFCC) is seeking the public’s help in locating Omotade Sparks Amos Sewanu, the mastermind behind the Inksnation crypto scam. According to a notice published in the local media on November 11, the EFCC wants Sewanu to respond to fraud charges relating to Inksnation’s purported crypto token- Pinkoin. The Inksnation […]

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