Two Arrested for Orchestrating Escape of Wirecard Exec Accused of Fraud
The collapsed financial firm had previously supplied cards to several cryptocurrency companies. Source
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Fraud
Class Action Filed Against Listed Bitcoin Miner Bit Digital Over Fraud Allegations
A class-action lawsuit has been filed against Nasdaq-listed bitcoin mining company Bit Digital following recent allegations of fraud.According to a court document filed in the Southern District Court of New York on Thursday, the class action seeks to recover damages for Bit Digital investors who made stock purchases between Dec.
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Bitcoin Miner Bit Digital Hits Back at ‘False Accusations’ of Fraud
Nasdaq-listed bitcoin mining company Bit Digital (BTBT) dismissed allegations of fraud against the company made in a recently published report by J Capital Research.Without specifically naming the report, a press release from the mining company responded to “false accusations” about its business. It repeated financial disclosures from Q3 2020 on
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Ford, BMW back blockchain ‘birth certificates’ to combat used car fraud
The Mobility Open Blockchain Initiative, or MOBI, a non-profit consortium of the world’s top vehicle manufacturers including Ford and BMW, has launched an initiative to combat fraud in the secondhand markets with blockchain-powered “birth certificates.”The initiative will leverage blockchain to track the registration and maintenance history of vehicles using MOBI’s
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Digital ruble could be still vulnerable to fraud, Russian banks warn
Russia’s central bank digital currency, or CBDC, could contain a number of risks related to cybersecurity and fraud, according to several local financial institutions.The Association of Russian Banks, or ARB, has released its official feedback on Russia’s digital ruble project on Jan. 13. The study included 17 ABR credit institutions in Russia
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Crypto Hedge Fund Founder Stefan Qin Accused of Fraud by SEC
The Securities and Exchange Commission (SEC) is accusing the founder of hedge fund Virgil Capital of fraud. Source
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Microsoft employee sentenced to 9 years in first U.S. Bitcoin case involving tax fraud
A former Microsoft engineer has been sentenced to nine years for stealing more than $10 million in digital value from his past employer in the form of “currency stored value" (CSV) including gift cards.Volodymyr Kvashuk, a 26-year-old Ukrainian citizen residing in Washington, used the accounts and identities of his fellow
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US Prosecutors Seek ‘Substantial’ Prison Sentence for Centra Tech Co-Founder in $25M Fraud Token Sale
U.S. federal prosecutors are seeking a substantial prison sentence for Robert Farkas, one of the co-founders of crypto project Centra Tech, which garnered multiple celebrity endorsements for its initial coin offering (ICO) in 2017. Farkas later pleaded guilty to fraud. In a sentencing submission filed with the U.S. District Court for
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US Seizes $24M in Crypto as Part of Brazilian Probe of $200M Fraud Scheme
The seizure was made after a request from Brazil for help with a large cryptocurrency fraud scheme. Source
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Spanish Police Arrest Head of Billion-Dollar Crypto Arbitrage Platform on Fraud Allegations
Spanish National Police have arrested the operator of cryptocurrency arbitrage firm Arbistar 2.0 in a crackdown on the platform that researchers and investors allege to be a massive bitcoin Ponzi scheme.The arrest should serve as a reminder to crypto investors of the value bitcoin’s traceable blockchain provides to investigators. While
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