Wednesday, October 21, 2020
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Russia to Reportedly Investigate an Allegedly Fraudulent TON Offering in UK

Shortly after lifting the country’s Telegram ban, Russian authorities began investigating potentially fraudulent offerings involving the company’s unlaunched token, Gram. The token was at one time meant to serve a new blockchain ecosystem known as the Telegram Open Network, or TON.Reports indicate that Russian prosecutors are set to investigate a

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Fraudulent Site Impersonates Encrypted Messaging Service to Steal Bitcoins

Cybercriminals have reportedly created a fake site version of the legitimate encrypted self-destructing notes service privnote.com. The fake version can be shared with other users to steal Bitcoin.According to a June 14 report from KrebsOnSecurity, the creators of the encrypted notes service complained about a fake clone site, privnotes.com, whose

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Philippine SEC Exposes Fraudulent ‘Abundance-Based’ Crypto Investment Scheme

The Philippines Securities and Exchange Commission (SEC) has flagged its third cryptocurrency scam this month, warning investors against a scheme dubbed “The Billion Coin” (TBC).Marketed as a so-called “abundance-based cryptocurrency,” the SEC said in an advisory on April 14 that TBCoin’s promoters present the asset as a decentralized cryptocurrency

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Chinese Regulator Accuses Crypto Exchanges of Fraudulent Volumes

The National Internet Finance Association of China (NIFA) warned investors that cryptocurrency exchanges located outside of the country are engaged in manipulative practices on April 2.The People’s Bank of China (PBoC)-affiliated regulator cautioned investors that many off-shore exchanges wash trade to fake trade volume and engage in underhanded tactics

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Beijing to Test Blockchain Platform for Fighting Fraudulent Invoices

Following a successful rollout in Shenzhen last year, China’s blockchain invoicing system is being introduced to the capital.On March 2, the Beijing Municipal Office of the State Administration of Taxation announced its decision to launch a city pilot for the blockchain-based system, with immediate activation for taxpayers in selected

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Shopin Founder Pleads Guilty to Orchestrating Fraudulent $42 Million ICO

The New York Attorney General (NYAG) Letitia James announced the conviction of Shopin founder Eran Eyal for orchestrating a fraudulent initial coin offering (ICO) following his guilty plea.As the NYAG announced on Dec. 12, the former CEO of Shopin pleaded guilty to felony charges for running a fraudulent initial

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US SEC Charges Shopin Founder With Orchestrating Fraudulent $42 Million ICO

The United States Securities and Exchange Commission (SEC) has charged Eran Eyal, the founder Shopin, with orchestrating a fraudulent initial coin offering (ICO).In a press release on Dec. 11, the SEC alleged that the businessman and his company defrauded hundreds of investors in an ICO that raised more than $42

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