EmpiresX ‘head trader’ to face 4 years of prison over $100M crypto ‘Ponzi’
One of the leading figures convicted of being behind the $100 million crypto “Ponzi” scheme, EmpiresX, has just been handed an over four-year jail sentence by a United States court. The sentencing was handed to Joshua David Nicholas, the “head trader” of purported crypto platform EmpiresX, who is nowset to serve a 51-month prison sentence […]
WAVES price crashes 50% in one week — watch these support levels next
Waves (WAVES) lost around half its value in April so far and risks further correction due to weakening technical and fundamental factors. WAVES price risks another 30% decline WAVES dropped from nearly $64 on March 31 to around $27.50 on April 7 — down by over 55%. As it fell, the WAVES/USD pair also broke […]
Neutrino Dollar breaks peg, falls to $0.82 amid WAVES price 'manipulation' accusations
Neutrino Dollar (USDN), a stablecoin issued through Waves-backed Neutrino protocol, lost its U.S. dollar-peg on April 4 amid speculations that it could become “insolvent” in the future. USDN plunges 15% despite WAVES backing USDN dropped to as low as $0.822 on April 4 with its market capitalization also diving to $824.25 million, down 14% from […]
Aussie crypto fund manager sentenced to 7 years for stealing $54M from investors
Stefan He Qin, the founder of two cryptocurrency hedge funds has been sentenced to more than seven years in prison after U.S. authorities found that he cheated investors out of $54 million, A Sept. 15 statement from the U.S. Department of Justice (DoJ) announced that U.S. District Judge Valerie Caproni handed Qin a 90 month […]
Ohio man pleads guilty to fraud over $30M crypto scam promising 15% monthly
The man behind a multi-million dollar cryptocurrency scam has pleaded guilty to fraud this week according to the U.S. Department of Justice. Ohio man Michael Ackerman could face up to 20 years inside following the guilty plea for defrauding investors in a crypto scam he orchestrated in 2017. The too good to be true scheme […]
Eastern European victims sent $815M to Ponzis and scams in the past year
Recent research has revealed that Eastern Europe remains a very high source of cybercrime activity — both from victims to scams, and from users to darknet markets — in the cryptocurrency sector. Cryptocurrency addresses based in the Eastern European region have the second-highest exposure to illicit activity after Africa, according to a report published on […]
Turkish prosecutors investigate alleged $119M Dogecoin mining scam
Turkish media reports that authorities there are investigating an alleged Dogecoin mining scam that pulled the rug on investors after amassing $119 million worth of deposits. An Aug. 23rd report from local channel TV100 broke the news, with police identifying pseudonymous online avatar “Turgut V.” as the scheme’s suspected operator. Authorities believe that Turgut and […]