Archive | fraud

Crypto Scams Comprise 0.6% of Fraud – Australian Consumer Watchdog

The Australian Competition & Consumer Commission (ACCC) has released a report on trends within the scam economy during 2017. The report identifies cryptocurrency related fraud to comprise less than 1% of the scam activity recorded in Australia last year. Also Read: Ross Ulbricht Continues to Fight for Freedom With Supreme Court Petition Cryptocurrency Scams Responsible for […]

It’s Time to Do Away with Traditional Coupons and Place Them on the Blockchain

You never change things by fighting the existing reality; to change something, build a new model that makes the existing model obsolete. Buckminster Fuller, 20th-century architect and theorist Blockchain tech allows business transactions to be secure in a world where everything from your Facebook profile to your entire business model can be hacked. But it’s […]

Audit Results: South Korea’s Largest Cryptocurrency Exchange Upbit Cleared

Upbit, the largest cryptocurrency exchange in South Korea, has conducted an internal audit amid suspicions of fraud from national authorities. The audit results allegedly disprove the claims that the exchange has falsely reported the amount of funds it holds. South Korea’s Upbit Exchange Claims Internal Audit Disproves Suspicions of Fraud South Korea’s cryptocurrency market came under… […]

US Court Indicts Founders of Crypto Company for Fraudulent Scheme

A US federal court has indicted three founders of a company purported to offer cryptocurrency-related financial products and have raised $25 million in an initial coin offering. In addition to claiming to have licenses in 38 states, the company also claimed partnerships with Bancorp, Visa, and Mastercard to issue its own cards. Also read: Yahoo! Japan […]

First Large-Scale Crypto Jacking Strike in India Targets Conglomerate

The third largest conglomerate in India, Aditya Birla Group, was targeted in what is believed to be the first large-scale crypto jacking attack of its kind in India.  Over 2,000 computers affected Hackers were able to gain access to over 2,000 computer systems belonging to various companies governed by the Aditya Birla Group, taking over the computers’ […]

Localbitcoins Updates ToS: ‘Some Situations May Require ID’

Just recently reported on traders who exchanged “significant” trade volume using the peer-to-peer platform, Localbitcoins, by receiving warnings to upload their identity before they could proceed trading. Now the Localbitcoins organization has updated its terms of service agreement which comes with a few new guidelines concerning ID verification and data retention. Also read: Markets Update: Cryptocurrencies […]

Cryptocurrency Market Loses $50 Billion as South Korean Exchange Is Suspected of Fraud

The cryptocurrency market turned upside down on Friday, having lost about $50 billion market capitalization overnight. With the exception of only Augur, Nuls, and Tether, the whole list of top 100 digital currencies are on the red. The dreadful sentiment seems to be a reaction to reports that South Korea’s exchange Upbit is suspected of fraud…. […]

Cryptocurrency-Targeting Malware Spreads via Facebook Messenger

A malicious Chrome extension discovered by Kaspersky Labs in August 2017 which targets cryptocurrency trading platforms has resurfaced with a spike in April 2018. The malware reportedly made attempts in a number of countries including Japan and South Korea. Malicious Chrome Extension Spreads Via Facebook Messenger to Target Cryptocurrency Trading Platforms In August 2017, Kaspersky… […]