Archive | fraud

SEC Slaps ICO Scammer with $30,000 Fine

David T Laurance has been issued a USD 30,000 penalty from the US Securities and Exchange Commission (SEC) due to his connection with a fraudulent initial coin offering (ICO). He has also been barred from holding officer and director positions, or from trading in and owning penny stocks. Laurance was the president and CEO of […]

Playboy Sues Wallet Developer for Failing to Integrate Crypto Across Its Platforms

Playboy is reportedly suing a Canadian cryptocurrency firm for allegedly failing to integrate a “wallet that would support a range of cryptocurrencies across the company’s online media, digital and casual gaming businesses.” Playboy.tv was supposed to be the first of the company’s platforms to feature the new crypto wallet and payment options. Also read: Yahoo! Japan […]

High-Profile Thai Crypto Case: Bitcoiner Lost Over 5,500 BTC – Ringleader Fled to US

A high-profile crypto case involving a well-known actor and model has come to public attention in Thailand following the enforcement of the country’s crypto regulations. Over 5,564 BTC were reportedly stolen from a bitcoin millionaire. The alleged ringleader has fled to the U.S. Thailand’s main crypto regulator is cooperating with the police on the case. […]

MobileGo in Freefall After Former Team Member Reveals Fraud

A troubling characteristic of ICOs is the explicit lack of accountability that token distributors have to maintain promises. As token holdings do not represent project ownership, deceitful entrepreneurs are emerging among legitimate projects as conmen and snake oil salesmen looking to earn quick riches. A frightening Reddit post on Sunday exposed GNation’s CEO and other […]

ICOs Only Account for Less Than 2% of Securities Lawsuits

A report released by litigation consultancy firm Cornerstone Research indicates that initial coin offerings (ICOs) account for under 2% of securities class action lawsuits – just 12 of 750 cases. ICOs are not the main offenders… are they even securities? With the total number of securities lawsuits at levels unmatched since 1995, the report found cases involving ICOs […]

Operators of Fraudulent Bitcoin Firm Fined $1.9M by CFTC

Various firms related to Bitcoin and other cryptocurrencies have no honest intentions. This problem has plagued the industry for quite some time now. The CFTC recently scored a big victory in this regard, as The Entrepreneurs Headquarters Limited was forced to pay $1.9 million for its fraudulent Bitcoin and binary options offerings. CFTC Continues to […]

CFTC Demands Almost $2 Million from Illegal Bitcoin Pool Operator

In a case that has been developing over the past few months, the U.S. Commodity Futures Trading Commission (CFTC) has taken another step in its actions against Dillon Michael Dean and his U.K.-registered company The Entrepreneurs Headquarters Limited (TEH). Dean, of Longmont, Colorado, who used Bitcoin to funnel his ill-gained profits, is charged with commodity pool operator… […]

Wendy McElroy: Does Your Money Serve the State or You?

The Satoshi Revolution: A Revolution of Rising Expectations Section 4: State Versus Society Chapter 9, Part 4 Does Your Money Serve the State or You? The State, in short, subjects people, whereas Society associates them voluntarily. – Felix Morley Two simple litmus tests determine whether money serves the state (organized force) or whether it serves […]

Ex-BTC-e Operator Alexander Vinnik to be Extradited to France

As part of an ongoing criminal case that has drawn international attention, a Greek court has agreed today to extradite Russian cybercrime suspect and ex-Bitcoin BTC-e platform operator Alexander Vinnik to France. The move comes after Greek authorities decided exactly where to send Vinnik, who is also wanted on criminal charges in the U.S., specifically… […]