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Accomplice in Alleged $722M Bitcoin Ponzi Scheme Pleads Guilty to Charges

One of four men charged with defrauding investors of more than $722 million through a long-running cryptocurrency mining scheme has pleaded guilty to charges against him.The man, a 35-year-old Romanian programmer called Silviu Catalin Bacali, was arrested in Germany in December 2019. He was charged with one count of a

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Lex Sokolin: Weed Out the Ponzi Scheme Eating Ethereum

Lex Sokolin, a CryptoX columnist, is Global Fintech co-head at ConsenSys, a Brooklyn, N.Y.-based blockchain software company. The following is adapted from his Fintech Blueprint newsletter. We have a beautiful Ethereum garden. In it, we grow cash equivalents called stablecoins powering applications that run on open source programmable blockchains. It promises to be

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The Digital Yuan Is Being Tested for a Workers’ Subsidies Scheme in Suzhou

Fresh details have emerged about ongoing trials of China’s digital yuan, specifically its current implementation in Suzhou — a major city in Jiangsu Province.On April 16, reporters for ChinSci-Tech — an innovation board for enterprises and public companies listed on the Shanghai Stock Exchange — revealed that the central

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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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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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