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Philippine SEC Warns of International Ponzi Offering 300% Daily Returns

The Philippines Securities and Exchange Commission (SEC) warned of a crypto Ponzi scheme targeting Filipino, Australian, and European investors on March 30.The scheme, Bitcoin Revolution, comprises a classic Ponzi in which investors are offered exorbitant compounding daily returns on deposited funds.Bitcoin Revolution claims to have software that produces trades

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Co-Founders of Alleged $9 Million Crypto Ponzi Scheme Plead Not Guilty

Zachary Salter, the co-founder of Zima Digital Assets alongside 28-year-old John Caruso, has pleaded not guilty to charges of money laundering and conspiracy to commit wire fraud in his arraignment in Arizona on March 4. The criminal indictment alleges that the pair ran a purported cryptocurrency investment scheme that was

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CFTC Charges Colorado Resident With Fraud in Crypto Ponzi Scheme

The Commodity Futures Trading Commission (CFTC) has filed charges against a Colorado native and associated investment company on fraud charges. Denver local Breonna Clark, along with Colorado-based Venture Capital Investments Ltd., face civil action from the CFTC for defrauding investors, the agency said in a statement on Feb. 14.

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Unknown Number of Major League Baseball Players Lured into Crypto Ponzi Scheme

Two men charged over an alleged crypto trading ponzi scheme lured investors, including professional baseball players, with social media posts boasting about their luxurious lifestyles.On January 30, the Secret Service arrested the Arizona-based founders of Zima Digital Assets, John Michael Caruso, aged 28, and Zachary Salter, aged 27.Caruso commonly

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Alleged Crypto Ponzi OneCoin May Have Used Flood of Fake Reviews to Boost Ailing Image

The OneCoin cryptocurrency project – accused by authorities of being a Ponzi scheme – may have attempted to boost its fortunes by using "inauthentic" accounts to place favorable reviews on TrustPilot and Quora, according to new research.The Digital Forensic Research Lab (DFRLab), an entity under U.S. think-tank the AtlanticCouncil, said

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CFTC Asks Court for More Time Finding CEO of Crypto Ponzi Scam Control Finance

Six months after the U.S. Commodity Futures Trading Commission (CFTC) filed a complaint against Control Finance, the regulatory agency is yet struggling to capture the mastermind behind the crypto pyramid scheme.Filed mid-2018, the CFTC accused Control Finance and its Director Benjamin Reynolds of defrauding naive investors through a fraudulent crypto

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