Keith Patrick Gill, also known as “Roaring Kitty,” an investor in Gamestop stock, has been sued in the Eastern District of New York for allegedly committing securities fraud. The lawsuit alleges that Gill, using social media posts on X and Reddit, orchestrated a pump-and-dump scheme by manipulating the public to purchase Gamestop (GME) and then […]
Bitcoin News
Malicious Crypto Wallet App Submitted to Apple Store Leads to Fraud Charges
The U.S. Department of Justice (DOJ) announced on Wednesday that Nikita Andreevich Sklyuev, also known as Valeriy Dorojkin, has been extradited from Ukraine and arraigned in Buffalo, NY, on charges of wire fraud and fraudulent use of an unauthorized access device. Sklyuev is accused of submitting a malicious cryptocurrency wallet app, “EOSIO Wallet Explorer,” to […]
Bitcoin News
Study: Crypto Assets Worth $572.7 Million Lost to Hacks and Fraud in Q2 2024
Digital assets worth over 2.7 million were lost to hacks and fraud in the second quarter of 2024. This latest figure brings the value of digital assets lost to hacks, fraud, and scams in 2024 to 0.9 million. Decentralized finance (defi) platforms lost approximately 2.1 million across 63 incidents. This figure is 25% lower than […]
Bitcoin News
Landmark Federal Case: Jury Declares Crypto Price Manipulation as Securities Fraud
In a landmark federal case, two men were sentenced for manipulating the price of a cryptocurrency and defrauding investors, marking the first instance where “a jury in a federal criminal trial found that a cryptocurrency was a security and that manipulating cryptocurrency prices was securities fraud,” said the head of the Justice Department’s Criminal Division. […]
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Prime Suspect in $2.2M Crypto Fraud Faces Up to 20 Years in Prison
The U.S. Department of Justice (DOJ) announced on Friday that Robert Wesley Robb, 46, from Colorado, pled guilty to wire fraud for deceiving investors with false promises about a Maximum Extractable Value (MEV) cryptocurrency trading bot. Robb solicited investments via social media, claiming high returns and pressuring individuals to invest quickly. On Sept. 8, 2023, […]
Bitcoin News
Indian Authority Busts Cryptocurrency Fraud Ring Targeting Foreign National
India’s Enforcement Directorate (ED) has cracked down on a cryptocurrency fraud ring targeting a foreign national. The accused persuaded the victim to transfer 0,000 to a cryptocurrency account set up using unauthorized remote access. The ED seized digital evidence, froze fixed deposits, and confiscated jewelry connected to the case. The investigation is still ongoing. ED […]
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First Civil Lawsuit Filed Against Crypto Platform JPEX for Alleged Fraud
Two citizens, Chan Wing-yan and Herbert Lee Sun-him, have filed the first civil lawsuit against the cryptocurrency platform JPEX, seeking to recover approximately 240,000 units of tether, worth about HK.85 million. This marks the first civil lawsuit since the alleged fraud was uncovered nine months ago. The plaintiffs allege unauthorized transfers of their funds shortly […]
Bitcoin News
Ukrainian Police Bust International Crypto Fraud Ring, 14 Arrested
Ukrainian authorities have dismantled a criminal ring defrauding citizens across Ukraine, Moldova, Kazakhstan, and the European Union through deceptive call centers promising lucrative cryptocurrency investments. The National Police of Ukraine detained 14 suspects, including the alleged organizers, and seized 12 luxury cars, 136 units of computer equipment, 951 SIM cards, 455 starter packs, and significant […]
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Ex-Banker Sentenced to 41 Months in US Prison for Crypto Fraud Scheme
Rashawn Russell, a former investment banker, was sentenced on Thursday to 41 months in prison for a cryptocurrency fraud scheme that caused .5 million in investor losses. From November 2020 to August 2022, Russell deceived multiple victims by promising high returns from cryptocurrency investments, only to misappropriate their funds for personal use, gambling, and repaying […]
Bitcoin News
Estonian Nationals Extradited to US for $575M Crypto Fraud
Two Estonian nationals have been extradited from Estonia to the U.S. to face charges for their roles in “a massive multi-faceted cryptocurrency Ponzi scheme,” according to an announcement by the U.S. Department of Justice (DOJ). Sergei Potapenko and Ivan Turõgin are accused of operating a 5 million Ponzi scheme involving the fraudulent cryptocurrency mining service […]
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