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Thailand Arrests Chinese Citizen Accused of Running a $14 Million Crypto Ponzi Scheme
Thai authorities have announced the arrest of Chinese national Liang Ai-Bing, accused of orchestrating a massive cryptocurrency Ponzi scheme that allegedly defrauded nearly 100 investors out of more than 100 million yuan (approximately $14 million).
The arrest took place in Bangkok, where Liang had been living in a luxurious three-story villa since December 2024, paying 150,000 baht ($4,645) in monthly rent — a stark contrast to the victims who lost their life savings.
Luxury Lifestyle, Illegal Weapons, and Escape from China
During a raid by Thailand’s elite 191 Police Unit, investigators discovered a Beretta handgun and 20 rounds of ammunition.
Liang was charged with illegal possession of a firearm and ammunition, as well as unlawful entry into the country.
According to Thai and Chinese police, Liang had four accomplices — Al Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun.
While Zuo was captured and released on bail, the remaining suspects are still at large.
Chinese authorities revealed that between December 2022 and May 2023, the group created a fraudulent crypto investment platform called FINTOCH, luring investors with promises of high, guaranteed returns.
In reality, it was a classic Ponzi scheme, collapsing after the operators siphoned off investors’ funds.
FINTOCH — A Fraud Disguised as a Global Fintech Project
The FINTOCH platform targeted investors through mobile apps and social media, falsely claiming to be affiliated with Morgan Stanley — an allegation that was quickly refuted.
The investment bank confirmed it had no connection to the project, does not solicit investors via email or social media, and does not trade crypto on behalf of clients.
Investigations also found that the so-called “CEO,” Bobby Lambert, was a paid actor, not a real person.
Crypto investigator ZachXBT reported that FINTOCH drained more than 31 million USDT, transferring the funds from Binance Smart Chain to addresses on Tron and Ethereum — after which investors were unable to withdraw their money.
Scams Targeting the Financially Vulnerable
According to the Monetary Authority of Singapore (MAS), the project amassed over $31 million in user deposits before disappearing in May 2023.
MAS also confirmed that FINTOCH was not affiliated with MariBank Singapore Private Limited, despite claiming otherwise.
ZachXBT emphasized that such scams often target communities with low financial literacy, exploiting their lack of knowledge about crypto investments.
“It’s unlikely that victims will recover their funds, but they should still report the fraud to their local authorities,” he warned.
Ponzi Schemes Still Threaten the Crypto Space
A report by Immunefi, a blockchain security platform, revealed that cases like FINTOCH were among the main contributors to a 63% year-over-year increase in crypto-related losses during Q2 2023.
The case serves as a stark reminder that even as global regulations tighten, cryptocurrency remains a magnet for scammers who prey on greed and false promises of easy profits.
Liang Ai-Bing is now awaiting extradition to China, where he will face charges of financial fraud, money laundering, and organized crime.
#Cryptoscam , #blockchain , #CryptoFraud , #CryptoCrime , #CryptoNews
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
The arrest took place in Bangkok, where Liang had been living in a luxurious three-story villa since December 2024, paying 150,000 baht ($4,645) in monthly rent — a stark contrast to the victims who lost their life savings.
Luxury Lifestyle, Illegal Weapons, and Escape from China
During a raid by Thailand’s elite 191 Police Unit, investigators discovered a Beretta handgun and 20 rounds of ammunition.
Liang was charged with illegal possession of a firearm and ammunition, as well as unlawful entry into the country.
According to Thai and Chinese police, Liang had four accomplices — Al Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun.
While Zuo was captured and released on bail, the remaining suspects are still at large.
Chinese authorities revealed that between December 2022 and May 2023, the group created a fraudulent crypto investment platform called FINTOCH, luring investors with promises of high, guaranteed returns.
In reality, it was a classic Ponzi scheme, collapsing after the operators siphoned off investors’ funds.
FINTOCH — A Fraud Disguised as a Global Fintech Project
The FINTOCH platform targeted investors through mobile apps and social media, falsely claiming to be affiliated with Morgan Stanley — an allegation that was quickly refuted.
The investment bank confirmed it had no connection to the project, does not solicit investors via email or social media, and does not trade crypto on behalf of clients.
Investigations also found that the so-called “CEO,” Bobby Lambert, was a paid actor, not a real person.
Crypto investigator ZachXBT reported that FINTOCH drained more than 31 million USDT, transferring the funds from Binance Smart Chain to addresses on Tron and Ethereum — after which investors were unable to withdraw their money.
Scams Targeting the Financially Vulnerable
According to the Monetary Authority of Singapore (MAS), the project amassed over $31 million in user deposits before disappearing in May 2023.
MAS also confirmed that FINTOCH was not affiliated with MariBank Singapore Private Limited, despite claiming otherwise.
ZachXBT emphasized that such scams often target communities with low financial literacy, exploiting their lack of knowledge about crypto investments.
“It’s unlikely that victims will recover their funds, but they should still report the fraud to their local authorities,” he warned.
Ponzi Schemes Still Threaten the Crypto Space
A report by Immunefi, a blockchain security platform, revealed that cases like FINTOCH were among the main contributors to a 63% year-over-year increase in crypto-related losses during Q2 2023.
The case serves as a stark reminder that even as global regulations tighten, cryptocurrency remains a magnet for scammers who prey on greed and false promises of easy profits.
Liang Ai-Bing is now awaiting extradition to China, where he will face charges of financial fraud, money laundering, and organized crime.
#Cryptoscam , #blockchain , #CryptoFraud , #CryptoCrime , #CryptoNews
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
🇻🇪🛑 Venezuelan Authorities Dismantle Key Node of the Generation ZOE Pyramid Scheme ⚠️
Venezuelan authorities have arrested César Julio Gómez López, one of the alleged leaders of the Generation ZOE network, a pyramid investment scheme that originated in Argentina and spread across Latin America. The arrest took place in Zulia state, western Venezuela, following an extensive investigation by the Scientific, Penal and Criminal Investigations Corps (CICPC).
Details of the Arrest
According to Douglas Rico, Director of the CICPC, Gómez López is accused of international fraud and of obtaining illicit economic gains of up to 20% through fraudulent investment schemes.
“Investigations revealed that the detainee obtained economic benefits from his victims’ assets, charging up to 20% per person who joined as an investor,” Rico stated on his official Instagram account.
Authorities confirmed that Gómez López acted as a key operator within Generación ZOE Venezuela, recruiting new investors and promising high monthly returns based on false business models.
Ongoing Investigation and Manhunt
The CICPC has also issued search warrants for four other suspects linked to the Venezuelan branch of the organization:
Blanca Torres — identified as the Director of Generación ZOE in Venezuela
Martiña Reyes
Patricia Sulbaran
Yomary Rivas
Authorities are expanding the investigation into other regions, including Trujillo state, where raids on multiple properties linked to the organization were conducted earlier this year.
Background: What Is Generation ZOE?
Generación ZOE was founded by Leonardo Cositorto in Argentina and gained notoriety across Latin America for its multi-level investment model that promised monthly returns between 7.5% and 10%, mainly in U.S. dollars.
The organization claimed to invest in sectors such as:
Cryptocurrencies (notably “Zoe Cash”)
Capital markets and trading
Forex and sports teams
Various other “profitable” ventures
In reality, authorities determined that Generación ZOE operated as a pyramid scheme, using funds from new investors to pay existing members — a structure that eventually collapsed, leading to widespread financial losses across Argentina, Colombia, Paraguay, Spain, and Venezuela.
Implications for Venezuela and the Region
The arrest of César Gómez López marks a significant step in dismantling the regional operations of Generación ZOE. Venezuelan authorities continue to coordinate with international agencies to track remaining members and recover victims’ assets.
This case also highlights the increasing presence of fraudulent crypto and investment schemes in Latin America, where economic instability and the rise of digital assets have made investors particularly vulnerable.
🔎 Key Takeaways:
César Julio Gómez López arrested in Zulia for international fraud linked to Generación ZOE.
Authorities seek four additional suspects, including Blanca Torres, ZOE’s director in Venezuela.
The scheme promised unrealistic returns of 7.5%–10% monthly through fake investment fronts.
Generación ZOE operated in multiple countries, with ongoing investigations across Latin America.
📍#📍#Venezuela
# #BreakingNews
#CryptoFraud
#GenerationZOE
#Zulia
🇻🇪🛑 Venezuelan Authorities Dismantle Key Node of the Generation ZOE Pyramid Scheme ⚠️
Venezuelan authorities have arrested César Julio Gómez López, one of the alleged leaders of the Generation ZOE network, a pyramid investment scheme that originated in Argentina and spread across Latin America. The arrest took place in Zulia state, western Venezuela, following an extensive investigation by the Scientific, Penal and Criminal Investigations Corps (CICPC).
Details of the Arrest
According to Douglas Rico, Director of the CICPC, Gómez López is accused of international fraud and of obtaining illicit economic gains of up to 20% through fraudulent investment schemes.
“Investigations revealed that the detainee obtained economic benefits from his victims’ assets, charging up to 20% per person who joined as an investor,” Rico stated on his official Instagram account.
Authorities confirmed that Gómez López acted as a key operator within Generación ZOE Venezuela, recruiting new investors and promising high monthly returns based on false business models.
Ongoing Investigation and Manhunt
The CICPC has also issued search warrants for four other suspects linked to the Venezuelan branch of the organization:
Blanca Torres — identified as the Director of Generación ZOE in Venezuela
Martiña Reyes
Patricia Sulbaran
Yomary Rivas
Authorities are expanding the investigation into other regions, including Trujillo state, where raids on multiple properties linked to the organization were conducted earlier this year.
Background: What Is Generation ZOE?
Generación ZOE was founded by Leonardo Cositorto in Argentina and gained notoriety across Latin America for its multi-level investment model that promised monthly returns between 7.5% and 10%, mainly in U.S. dollars.
The organization claimed to invest in sectors such as:
Cryptocurrencies (notably “Zoe Cash”)
Capital markets and trading
Forex and sports teams
Various other “profitable” ventures
In reality, authorities determined that Generación ZOE operated as a pyramid scheme, using funds from new investors to pay existing members — a structure that eventually collapsed, leading to widespread financial losses across Argentina, Colombia, Paraguay, Spain, and Venezuela.
Implications for Venezuela and the Region
The arrest of César Gómez López marks a significant step in dismantling the regional operations of Generación ZOE. Venezuelan authorities continue to coordinate with international agencies to track remaining members and recover victims’ assets.
This case also highlights the increasing presence of fraudulent crypto and investment schemes in Latin America, where economic instability and the rise of digital assets have made investors particularly vulnerable.
🔎 Key Takeaways:
César Julio Gómez López arrested in Zulia for international fraud linked to Generación ZOE.
Authorities seek four additional suspects, including Blanca Torres, ZOE’s director in Venezuela.
The scheme promised unrealistic returns of 7.5%–10% monthly through fake investment fronts.
Generación ZOE operated in multiple countries, with ongoing investigations across Latin America.
📍#📍#Venezuela
# #BreakingNews
#CryptoFraud
#GenerationZOE
#Zulia
US Charges Cambodian Executive in $14B Crypto Scam
U.S. authorities have charged Chen Zhi, chairman of Cambodia’s Prince Holding Group, in connection with a massive cryptocurrency scam and seized over $14 billion in bitcoin. Prosecutors allege Chen and unnamed co-conspirators exploited forced labor to defraud investors, using the illicit proceeds to buy yachts, jets, and a Picasso painting.
The Brooklyn federal indictment includes wire fraud conspiracy and money laundering conspiracy charges. U.S. and U.K. authorities have also sanctioned Chen’s company, labeling it a transnational criminal organization. Chen, 38, is accused of sanctioning violence against workers, bribing officials, and laundering funds through online gambling and crypto mining operations.
#CryptoFraud #BitcoinSeizure #ChenZhi #CryptoNews #FinancialCrime
U.S. authorities have charged Chen Zhi, chairman of Cambodia’s Prince Holding Group, in connection with a massive cryptocurrency scam and seized over $14 billion in bitcoin. Prosecutors allege Chen and unnamed co-conspirators exploited forced labor to defraud investors, using the illicit proceeds to buy yachts, jets, and a Picasso painting.
The Brooklyn federal indictment includes wire fraud conspiracy and money laundering conspiracy charges. U.S. and U.K. authorities have also sanctioned Chen’s company, labeling it a transnational criminal organization. Chen, 38, is accused of sanctioning violence against workers, bribing officials, and laundering funds through online gambling and crypto mining operations.
#CryptoFraud #BitcoinSeizure #ChenZhi #CryptoNews #FinancialCrime
Жінка, яка втратила $670 000, програла суд проти криптоплатформи NDAX Canada.
Верховний суд Британської Колумбії відхилив позов Yan Li Xu, бухгалтерки з Вікторії, яка звинувачувала канадську криптоплатформу NDAX Canada у втраті $671 000 через онлайн-шахрайство. Рішення оголосив суддя Ліндсі ЛеБланк 20 жовтня 2025 року, наголосивши, що NDAX виконала всі обов'язки щодо захисту клієнтів.
Історія почалася навесні 2023 року, коли Xu познайомилася в інтернеті з "інвестором", який обіцяв 1% щоденної прибутковості. Почавши з дрібних переказів по $500–1000, вона повірила в схему. Для великої інвестиції переоформила іпотеку на будинок і позичала в друзів, внісши $671 000 на NDAX для купівлі $ETH .
Платформа чотири рази застерігала Xu: спочатку письмово про ризики, потім compliance-офіцер підтвердив на телефоні, що вона "ймовірно жертва шахрайства", і транзакції незворотні. Xu надала фальшиві дані про власника гаманця, стверджуючи, що він її. "Попередження NDAX не могли бути чіткішими", — написав суддя. "Втрати Xu regrettable, але відповідальність NDAX відсутня".
Цей прецедент підкреслює межі відповідальності бірж: вони мусять попереджати, але не блокувати клієнтів. У Канаді посилюється нагляд за крипто, з реєстрацією в FINTRAC. Експерти радять: читайте угоди, перевіряйте контакти та уникайте "швидких прибутків". Справа нагадує про $3 млрд втрат від pig-butchering scam у 2023–2025 роках.
#Cryptoscam #NDAXLawsuit #BCLawsuit #CryptoFraud #EthereumLoss #PigButchering #Fintrac #BlockchainLiability
Підпишіться на #MiningUpdates для найсвіжіших новин про майнінг і криптовалюти!
Canadian Court Clears Crypto Exchange After Woman Ignores Four Fraud Warnings and Loses $671,000
A shocking case from Canada highlights how even multiple fraud warnings can fail to prevent disaster.
The British Columbia Supreme Court has ruled that cryptocurrency exchange NDAX Canada bears no responsibility for the loss of $671,000 CAD (about $480,000 USD) that a client transferred to an online scammer — despite being warned four separate times not to proceed.
Court: “The Warnings Could Not Have Been Clearer”
Justice Lindsay LeBlanc found that NDAX fulfilled all of its obligations toward the customer and had done everything possible to prevent the fraud.
“While the losses suffered by the plaintiff are regrettable, there is no legal basis to assign liability to NDAX,” she wrote.
The judge emphasized that the exchange’s repeated warnings “could not have been clearer.”
NDAX is registered with FINTRAC, Canada’s financial intelligence agency, as a money services business and is therefore subject to strict anti–money laundering laws.
How the Fraud Happened
Yan Li Xu, an accountant from Victoria, opened her NDAX account on April 10, 2023, after an online acquaintance convinced her to invest in a program that allegedly paid 1% in daily returns.
To fund her “investment,” she refinanced her house and borrowed money from a friend — a total of $671,000 CAD, which she then used to purchase Ethereum (ETH) through NDAX.
On April 18, an NDAX employee contacted Xu to verify the transaction and warned her that it showed “high-risk indicators.”
Compliance officer Julia Baranovska even told Xu directly that she was “very likely being scammed.”
Nevertheless, Xu insisted that NDAX “immediately execute the withdrawal,” demanding that her ETH be sent to an external wallet — which turned out to belong to the fraudsters.
“Release My Funds Immediately or I’ll Sue”
According to the court filing, after the initial call Xu sent multiple urgent emails demanding that NDAX release her crypto, threatening legal action if they refused.
NDAX responded with a written fraud warning, a secondary confirmation notice, and two follow-up phone calls, all reiterating that she was likely being targeted by scammers.
Only after these steps did the exchange process the transaction — and the Ethereum was instantly moved to the scammer’s wallet, becoming irretrievably lost.
Canada Tightens Oversight of Crypto Firms
The ruling comes as Canada ramps up enforcement of its cryptocurrency regulations.
This week, the country’s financial intelligence agency issued a record $176.9 million CAD fine to a Vancouver-based crypto platform for violating anti–money laundering laws.
Authorities cited thousands of unreported suspicious transactions linked to child exploitation, ransomware, and sanctions evasion — the largest penalty ever imposed on a Canadian crypto company.
A Lesson for All Investors
The case illustrates that while crypto exchanges must protect users, their responsibility has limits.
Once a customer ignores multiple explicit warnings, the liability shifts squarely onto them.
The Xu case serves as a cautionary tale for crypto investors everywhere:
Never send crypto based on online promises of “guaranteed profits” — no matter how convincing they sound.
#Cryptoscam , #Canada , #Ethereum , #CryptoSecurity , #CryptoFraud
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
The British Columbia Supreme Court has ruled that cryptocurrency exchange NDAX Canada bears no responsibility for the loss of $671,000 CAD (about $480,000 USD) that a client transferred to an online scammer — despite being warned four separate times not to proceed.
Court: “The Warnings Could Not Have Been Clearer”
Justice Lindsay LeBlanc found that NDAX fulfilled all of its obligations toward the customer and had done everything possible to prevent the fraud.
“While the losses suffered by the plaintiff are regrettable, there is no legal basis to assign liability to NDAX,” she wrote.
The judge emphasized that the exchange’s repeated warnings “could not have been clearer.”
NDAX is registered with FINTRAC, Canada’s financial intelligence agency, as a money services business and is therefore subject to strict anti–money laundering laws.
How the Fraud Happened
Yan Li Xu, an accountant from Victoria, opened her NDAX account on April 10, 2023, after an online acquaintance convinced her to invest in a program that allegedly paid 1% in daily returns.
To fund her “investment,” she refinanced her house and borrowed money from a friend — a total of $671,000 CAD, which she then used to purchase Ethereum (ETH) through NDAX.
On April 18, an NDAX employee contacted Xu to verify the transaction and warned her that it showed “high-risk indicators.”
Compliance officer Julia Baranovska even told Xu directly that she was “very likely being scammed.”
Nevertheless, Xu insisted that NDAX “immediately execute the withdrawal,” demanding that her ETH be sent to an external wallet — which turned out to belong to the fraudsters.
“Release My Funds Immediately or I’ll Sue”
According to the court filing, after the initial call Xu sent multiple urgent emails demanding that NDAX release her crypto, threatening legal action if they refused.
NDAX responded with a written fraud warning, a secondary confirmation notice, and two follow-up phone calls, all reiterating that she was likely being targeted by scammers.
Only after these steps did the exchange process the transaction — and the Ethereum was instantly moved to the scammer’s wallet, becoming irretrievably lost.
Canada Tightens Oversight of Crypto Firms
The ruling comes as Canada ramps up enforcement of its cryptocurrency regulations.
This week, the country’s financial intelligence agency issued a record $176.9 million CAD fine to a Vancouver-based crypto platform for violating anti–money laundering laws.
Authorities cited thousands of unreported suspicious transactions linked to child exploitation, ransomware, and sanctions evasion — the largest penalty ever imposed on a Canadian crypto company.
A Lesson for All Investors
The case illustrates that while crypto exchanges must protect users, their responsibility has limits.
Once a customer ignores multiple explicit warnings, the liability shifts squarely onto them.
The Xu case serves as a cautionary tale for crypto investors everywhere:
Never send crypto based on online promises of “guaranteed profits” — no matter how convincing they sound.
#Cryptoscam , #Canada , #Ethereum , #CryptoSecurity , #CryptoFraud
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
I initially thought $COAI was just another overhyped project — but it turned out to be far worse, a complete scam in motion.
Here’s the reality:
A fake product built on a fabricated AI narrative.
So-called “decentralization” was a lie — 96% of the supply was controlled by just 10 wallets.
And to make things worse, major exchanges fueled the scheme by listing this trash, leaving retail investors to take the hit.
#COAIScam #CryptoFraud #MarketManipulation #ProtectYourFunds #MarketPullback
Here’s the reality:
A fake product built on a fabricated AI narrative.
So-called “decentralization” was a lie — 96% of the supply was controlled by just 10 wallets.
And to make things worse, major exchanges fueled the scheme by listing this trash, leaving retail investors to take the hit.
#COAIScam #CryptoFraud #MarketManipulation #ProtectYourFunds #MarketPullback
🇮🇳 Індія заморожує $270 млн у криптоактивах OctaFX🤯
Індійське управління з боротьби з фінансовими злочинами (ED) 17 жовтня 2025 року заморозило криптоактиви на суму ₹ 2,385 crore (~$270 млн), пов’язані зі справою OctaFX.
📉 Розслідування виявило масштабну схему шахрайства — з липня 2022 р. по квітень 2023 р. компанія заволоділа понад ₹ 1,875 crore коштів інвесторів через фейкові Forex-платформи та криптоканали переказів.
👤 Головного підозрюваного, Павла Прозорова, заарештовано в Іспанії. Індія вже розпочала процедуру екстрадиції.
Загальна сума вилучених і заморожених активів у справі сягнула ₹ 2,681 crore (~$303 млн).
⚖️ Ця операція стала черговим сигналом того, що Індія посилює контроль над відмиванням грошей у криптосекторі.
Підпишіться на @VRIO ,щоб не пропустити свіжі новини про криптовалюти!
#India #OctaFX #CryptoFraud #ukraine #CryptoNews $SUI $LINK $UNI
Індійське управління з боротьби з фінансовими злочинами (ED) 17 жовтня 2025 року заморозило криптоактиви на суму ₹ 2,385 crore (~$270 млн), пов’язані зі справою OctaFX.
📉 Розслідування виявило масштабну схему шахрайства — з липня 2022 р. по квітень 2023 р. компанія заволоділа понад ₹ 1,875 crore коштів інвесторів через фейкові Forex-платформи та криптоканали переказів.
👤 Головного підозрюваного, Павла Прозорова, заарештовано в Іспанії. Індія вже розпочала процедуру екстрадиції.
Загальна сума вилучених і заморожених активів у справі сягнула ₹ 2,681 crore (~$303 млн).
⚖️ Ця операція стала черговим сигналом того, що Індія посилює контроль над відмиванням грошей у криптосекторі.
Підпишіться на @VRIO ,щоб не пропустити свіжі новини про криптовалюти!
#India #OctaFX #CryptoFraud #ukraine #CryptoNews $SUI $LINK $UNI
Here’s a heart-touching emotional story about a crypto fraud, written like a girl expressing her pain and regret — with coins mentioned 👇
---
💔 Crypto Fraud Story – I Trusted the Wrong Person 💔
It still hurts to write this… On 15th October 2025, I became a victim of a cruel crypto fraud. 😭
A trader approached me online, speaking sweetly, promising easy profits from $USDT , $BTC , and $ETH . He seemed so kind, so real — I believed him.
He guided me step by step, sent fake screenshots, and made me feel safe. I transferred my crypto with full trust… and within minutes, he blocked me. My wallet went empty. My heart broke. 💔
That night, I couldn’t stop crying — not just for the money I lost, but for the trust that vanished with it. I worked so hard for every dollar, every coin… and it was gone in seconds. 😢
Please, don’t fall for kind words and fake promises. Verify before you trust.
Crypto can build dreams — but fraud can destroy them in a moment. 💔
#CryptoFraud #Cryptoscam #BTC #USDT #ETH #StaySafe #CryptoAwareness
---
💔 Crypto Fraud Story – I Trusted the Wrong Person 💔
It still hurts to write this… On 15th October 2025, I became a victim of a cruel crypto fraud. 😭
A trader approached me online, speaking sweetly, promising easy profits from $USDT , $BTC , and $ETH . He seemed so kind, so real — I believed him.
He guided me step by step, sent fake screenshots, and made me feel safe. I transferred my crypto with full trust… and within minutes, he blocked me. My wallet went empty. My heart broke. 💔
That night, I couldn’t stop crying — not just for the money I lost, but for the trust that vanished with it. I worked so hard for every dollar, every coin… and it was gone in seconds. 😢
Please, don’t fall for kind words and fake promises. Verify before you trust.
Crypto can build dreams — but fraud can destroy them in a moment. 💔
#CryptoFraud #Cryptoscam #BTC #USDT #ETH #StaySafe #CryptoAwareness
Protecting Americans from Digital Asset Fraud: A Ticking Time Bomb
The digital asset boom has unleashed a Wild West of opportunity—and danger. Cryptocurrencies, NFTs, and tokenized dreams promise riches, but beneath the hype lurks a cesspool of fraud draining Americans dry. In 2024 alone, the FTC reported over $2.5 billion lost to crypto scams, a 300% spike from two years prior. This isn’t a glitch; it’s an explosion of exploitation, and the U.S. government must ignite a counterattack—now.
Scammers aren’t just hacking wallets; they’re masterminding Ponzi schemes, rug pulls, and fake ICOs with surgical precision. Take the “Hyperledger Token” scam—$50 million vanished overnight after a slick X campaign hooked desperate investors. Posts bragged “10x returns in 30 days,” linking to polished sites that evaporated post-heist. I dug into the X profiles pushing this garbage—bots and bought influencers, every one. The links? Dead ends hosted on shady offshore servers. This is the norm, not the exception.
Victims aren’t just tech bros. Retirees, small business owners, even teachers are losing life savings to these digital bandits. The SEC’s cracking down, sure—$1.7 billion in penalties last year—but it’s a Band-Aid on a gunshot wound. Fraudsters adapt faster than regulators can type. Web searches reveal X posts warning of scams after the damage is done, while crooks pivot to new cons daily.
We need a detonation of action: real-time monitoring of blockchain transactions, mandatory KYC for crypto platforms, and an AI-driven task force to sniff out scams before they blow up. Education’s key—teach Americans to spot red flags like “guaranteed returns” or sketchy X hype. Congress must stop debating and start legislating. The clock’s ticking, and every delay lets another fraud bomb drop.
Protecting Americans isn’t optional—it’s urgent. Digital assets can innovate, but not at the cost of our security. #CryptoFraud #ProtectAmericans #DigitalJustice #MarketRebound #TrumpCongressSpeech
The digital asset boom has unleashed a Wild West of opportunity—and danger. Cryptocurrencies, NFTs, and tokenized dreams promise riches, but beneath the hype lurks a cesspool of fraud draining Americans dry. In 2024 alone, the FTC reported over $2.5 billion lost to crypto scams, a 300% spike from two years prior. This isn’t a glitch; it’s an explosion of exploitation, and the U.S. government must ignite a counterattack—now.
Scammers aren’t just hacking wallets; they’re masterminding Ponzi schemes, rug pulls, and fake ICOs with surgical precision. Take the “Hyperledger Token” scam—$50 million vanished overnight after a slick X campaign hooked desperate investors. Posts bragged “10x returns in 30 days,” linking to polished sites that evaporated post-heist. I dug into the X profiles pushing this garbage—bots and bought influencers, every one. The links? Dead ends hosted on shady offshore servers. This is the norm, not the exception.
Victims aren’t just tech bros. Retirees, small business owners, even teachers are losing life savings to these digital bandits. The SEC’s cracking down, sure—$1.7 billion in penalties last year—but it’s a Band-Aid on a gunshot wound. Fraudsters adapt faster than regulators can type. Web searches reveal X posts warning of scams after the damage is done, while crooks pivot to new cons daily.
We need a detonation of action: real-time monitoring of blockchain transactions, mandatory KYC for crypto platforms, and an AI-driven task force to sniff out scams before they blow up. Education’s key—teach Americans to spot red flags like “guaranteed returns” or sketchy X hype. Congress must stop debating and start legislating. The clock’s ticking, and every delay lets another fraud bomb drop.
Protecting Americans isn’t optional—it’s urgent. Digital assets can innovate, but not at the cost of our security. #CryptoFraud #ProtectAmericans #DigitalJustice #MarketRebound #TrumpCongressSpeech
Do Kwon Extradited to the U.S. Following Terra Luna Collapse
Do Kwon, the co-founder and former CEO of Terraform Labs, has officially been extradited to the United States to face criminal charges tied to the catastrophic collapse of the Terra Luna ecosystem. The extradition, facilitated by Montenegrin authorities in collaboration with Interpol, was confirmed by Montenegro’s Prime Minister Milojko Spajić on December 31. In his statement on X, Spajić highlighted Montenegro's dedication to fostering innovation while upholding international justice and maintaining zero tolerance for financial fraud.
This extradition marks a significant turn of events following months of deliberations and legal disputes. After serving a four-month sentence in Montenegro for using counterfeit travel documents, Kwon’s fate was decided by Montenegrin Justice Minister Bojan Božović, who approved his transfer to the U.S. on December 27. This decision came despite a competing request from South Korea, where Kwon also faces legal charges. Appeals from Kwon’s defense team delayed the process, but the final ruling underscored Montenegro’s commitment to the rule of law and international cooperation.
The legal challenges against Kwon in the U.S. are substantial. In March 2023, the U.S. Department of Justice charged him with eight serious offenses, including commodities and wire fraud, as well as conspiracy to manipulate markets. Additionally, the Securities and Exchange Commission (SEC) previously secured a court ruling in April holding Kwon and Terraform Labs liable for fraud. The resulting settlement included approximately $4.5 billion in penalties and disgorgement. While it remains unclear when Kwon will appear in a U.S. court, his extradition brings him closer to facing accountability for his actions.
The collapse of the Terra Luna ecosystem in May 2022 wiped out $50 billion in market value within days, causing widespread financial losses for investors worldwide
#DoKwonExtradition
#TerraLunaCollapse
#CryptocurrencyNews
#BlockchainRegulation
#CryptoFraud
Do Kwon, the co-founder and former CEO of Terraform Labs, has officially been extradited to the United States to face criminal charges tied to the catastrophic collapse of the Terra Luna ecosystem. The extradition, facilitated by Montenegrin authorities in collaboration with Interpol, was confirmed by Montenegro’s Prime Minister Milojko Spajić on December 31. In his statement on X, Spajić highlighted Montenegro's dedication to fostering innovation while upholding international justice and maintaining zero tolerance for financial fraud.
This extradition marks a significant turn of events following months of deliberations and legal disputes. After serving a four-month sentence in Montenegro for using counterfeit travel documents, Kwon’s fate was decided by Montenegrin Justice Minister Bojan Božović, who approved his transfer to the U.S. on December 27. This decision came despite a competing request from South Korea, where Kwon also faces legal charges. Appeals from Kwon’s defense team delayed the process, but the final ruling underscored Montenegro’s commitment to the rule of law and international cooperation.
The legal challenges against Kwon in the U.S. are substantial. In March 2023, the U.S. Department of Justice charged him with eight serious offenses, including commodities and wire fraud, as well as conspiracy to manipulate markets. Additionally, the Securities and Exchange Commission (SEC) previously secured a court ruling in April holding Kwon and Terraform Labs liable for fraud. The resulting settlement included approximately $4.5 billion in penalties and disgorgement. While it remains unclear when Kwon will appear in a U.S. court, his extradition brings him closer to facing accountability for his actions.
The collapse of the Terra Luna ecosystem in May 2022 wiped out $50 billion in market value within days, causing widespread financial losses for investors worldwide
#DoKwonExtradition
#TerraLunaCollapse
#CryptocurrencyNews
#BlockchainRegulation
#CryptoFraud
Canadian crypto platform #ezBtc and its founder David Smillie defrauded customers, misappropriating C$13M ($9.5M) for gambling, per BCSC.
Over 935 $BTC and 159 $ETH were diverted for personal use.
#cryptofraud #Fraud #Fraud_alert #TrendingTopic
Over 935 $BTC and 159 $ETH were diverted for personal use.
#cryptofraud #Fraud #Fraud_alert #TrendingTopic
🚨 Breaking News: $23M Crypto Fraud Busted by DOJ! �
One of the most notorious names in the crypto world has just been brought to justice! 🕵️♂️ Gotbit Consulting, a controversial market maker, has pleaded guilty to orchestrating a massive fraud scheme involving wash trades and fake volume to artificially inflate token prices. 💸
The mastermind behind this operation even developed custom software to execute these deceptive practices seamlessly. The outcome? Years of manipulation, millions of dollars moved, and countless investors misled. 😱
This marks the THIRD major market maker to be taken down by the DOJ in their ongoing crackdown on crypto fraud. And guess what? More are likely on the chopping block! ⚖️
So, what does this mean for the crypto world? 🌍
Is this a stern warning to all "volume support" players still operating in the shadows? 🚩
Or is this the dawn of a new era of transparency and accountability in the crypto space? 🌟
Could this be the rebirth of crypto's credibility on a global scale? 🌐 Only time will tell, but one thing's for sure: the DOJ isn't playing games anymore. 🎮
#CryptoNews #DOJCrackdown #CryptoFraud #TransparencyMatters #BlockchainRevolution 🚀🔒
Stay tuned, folks. The crypto world is evolving, and this might just be the start of something big! 💥✨
$BTC
$ETH
$XRP
One of the most notorious names in the crypto world has just been brought to justice! 🕵️♂️ Gotbit Consulting, a controversial market maker, has pleaded guilty to orchestrating a massive fraud scheme involving wash trades and fake volume to artificially inflate token prices. 💸
The mastermind behind this operation even developed custom software to execute these deceptive practices seamlessly. The outcome? Years of manipulation, millions of dollars moved, and countless investors misled. 😱
This marks the THIRD major market maker to be taken down by the DOJ in their ongoing crackdown on crypto fraud. And guess what? More are likely on the chopping block! ⚖️
So, what does this mean for the crypto world? 🌍
Is this a stern warning to all "volume support" players still operating in the shadows? 🚩
Or is this the dawn of a new era of transparency and accountability in the crypto space? 🌟
Could this be the rebirth of crypto's credibility on a global scale? 🌐 Only time will tell, but one thing's for sure: the DOJ isn't playing games anymore. 🎮
#CryptoNews #DOJCrackdown #CryptoFraud #TransparencyMatters #BlockchainRevolution 🚀🔒
Stay tuned, folks. The crypto world is evolving, and this might just be the start of something big! 💥✨
$BTC
$ETH
$XRP
Hong Kong Fraud Group Using Deepfakes Exposed – Pretended to Be Wealthy Single Women
Seized Notebooks Revealed Sophisticated Scams
Hong Kong police uncovered a sophisticated fraud scheme that used artificial intelligence to deceive victims. The investigation led to the seizure of over HK$34 million (approximately USD 3.37 million). Notebooks confiscated by law enforcement revealed the criminals' methods, including the use of deepfake technology to appear more convincing.
How the Fraudsters Lured Their Victims
The fraudsters pretended to be wealthy single women, crafting stories about interests such as learning Japanese, playing golf, or tasting luxury wines worth over HK$100,000 (USD 12,850) per bottle. These methods were documented in the notebooks seized during the operation.
The investigation resulted in the arrest of 31 individuals connected to a criminal syndicate. This group used artificial intelligence to create realistic images of attractive women, which were then used to lure victims into romantic and investment scams.
The Problem of Deepfake Scams
Byron Boston, a former police officer and CEO of Crypto Track, warned that the combination of deepfake technology and social engineering presents significant challenges for investigators and law enforcement. AI-generated images make criminals more convincing and enable them to execute more complex scams.
Boston highlighted an incident from November 2022, where a fake video impersonating FTX founder Sam Bankman-Fried was used in a phishing attack targeting FTX users. This incident demonstrates how deepfake technologies can be exploited to steal cryptocurrency assets from victims.
Scams Targeting Young People
Confiscated materials revealed that the fraudsters specifically targeted young people seeking quick earnings. Victims were often convinced they were communicating with ideal women from Taiwan, Singapore, and Malaysia.
Challenges in Combating These Crimes
Boston emphasized that effective collaboration and swift action are key to fighting these sophisticated scams. However, he noted that many local law enforcement agencies, particularly in the U.S., lack the necessary tools and expertise to track stolen cryptocurrency or cooperate with international exchanges.
Criminals leveraging technologies like deepfake and social engineering remain a significant challenge for security forces worldwide.
#Deepfake , #CryptoFraud , #CryptoScams , #cybercrime , #CryptoNewss
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Hong Kong police uncovered a sophisticated fraud scheme that used artificial intelligence to deceive victims. The investigation led to the seizure of over HK$34 million (approximately USD 3.37 million). Notebooks confiscated by law enforcement revealed the criminals' methods, including the use of deepfake technology to appear more convincing.
How the Fraudsters Lured Their Victims
The fraudsters pretended to be wealthy single women, crafting stories about interests such as learning Japanese, playing golf, or tasting luxury wines worth over HK$100,000 (USD 12,850) per bottle. These methods were documented in the notebooks seized during the operation.
The investigation resulted in the arrest of 31 individuals connected to a criminal syndicate. This group used artificial intelligence to create realistic images of attractive women, which were then used to lure victims into romantic and investment scams.
The Problem of Deepfake Scams
Byron Boston, a former police officer and CEO of Crypto Track, warned that the combination of deepfake technology and social engineering presents significant challenges for investigators and law enforcement. AI-generated images make criminals more convincing and enable them to execute more complex scams.
Boston highlighted an incident from November 2022, where a fake video impersonating FTX founder Sam Bankman-Fried was used in a phishing attack targeting FTX users. This incident demonstrates how deepfake technologies can be exploited to steal cryptocurrency assets from victims.
Scams Targeting Young People
Confiscated materials revealed that the fraudsters specifically targeted young people seeking quick earnings. Victims were often convinced they were communicating with ideal women from Taiwan, Singapore, and Malaysia.
Challenges in Combating These Crimes
Boston emphasized that effective collaboration and swift action are key to fighting these sophisticated scams. However, he noted that many local law enforcement agencies, particularly in the U.S., lack the necessary tools and expertise to track stolen cryptocurrency or cooperate with international exchanges.
Criminals leveraging technologies like deepfake and social engineering remain a significant challenge for security forces worldwide.
#Deepfake , #CryptoFraud , #CryptoScams , #cybercrime , #CryptoNewss
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
🚨 **Breaking News**: SEC charges Diana Mae Fernandez with fraud for promising cryptocurrency investments with guaranteed returns and embezzling $364,000 from at least 20 investors 🕵️♂️💼 #cryptofraud 🔒🚫
🚨 BREAKING: #SEC cracks down on $1.7B #cryptofraud that operated under several names, such as HyperFund, HyperVerse and HyperTech.
Allegedly hiring an actor CEO, they promised high returns and planned Hong Kong Stock Exchange listing. Funds were used for luxury purchases.
#Breaking #CryptoNews🔒📰🚫
Allegedly hiring an actor CEO, they promised high returns and planned Hong Kong Stock Exchange listing. Funds were used for luxury purchases.
#Breaking #CryptoNews🔒📰🚫
🚨 Мошенники атакуют Coinbase! 💸🔥
За 2 месяца пользователи потеряли $65 000 000 из-за хитрых схем социальной инженерии! 😱
💀 Как работают аферисты?
🔹 Клонируют сайт Coinbase 🕵️♂️
🔹 Рассылают страшные письма о «взломе» аккаунта 📩
🔹 Убеждают перевести деньги на «безопасный счёт» 💰➡️🕳️
👉 Как не попасться?
✅ Не кликайте по подозрительным ссылкам 🛑
✅ Проверяйте URL сайта перед входом 🔍
✅ Дважды подумайте, прежде чем переводить средства 🤔
Берегите свои криптодоллары! 💎💪 Будьте на шаг впереди мошенников!
#Coinbase #CryptoScam #Security #CryptoFraud #StaySafe #Bitcoin
За 2 месяца пользователи потеряли $65 000 000 из-за хитрых схем социальной инженерии! 😱
💀 Как работают аферисты?
🔹 Клонируют сайт Coinbase 🕵️♂️
🔹 Рассылают страшные письма о «взломе» аккаунта 📩
🔹 Убеждают перевести деньги на «безопасный счёт» 💰➡️🕳️
👉 Как не попасться?
✅ Не кликайте по подозрительным ссылкам 🛑
✅ Проверяйте URL сайта перед входом 🔍
✅ Дважды подумайте, прежде чем переводить средства 🤔
Берегите свои криптодоллары! 💎💪 Будьте на шаг впереди мошенников!
#Coinbase #CryptoScam #Security #CryptoFraud #StaySafe #Bitcoin
Private Jets, Political Donations, and Billion-Dollar Losses: Seized from Sam Bankman-Fried
Federal Court Confirms the Extent of SBF’s Forfeited Assets
The U.S. government has officially finalized the confiscation of Sam Bankman-Fried's (SBF) assets, the former CEO of the collapsed FTX exchange. Among the most notable items on the nearly $1 billion forfeiture list are $606 million from the sale of Robinhood shares and two private jets.
Court documents detail dozens of pages of assets that SBF owned before his conviction for fraud, including vast cryptocurrency holdings, bank accounts, investments, and political contributions.
💰 The Largest Asset: $606 Million in Robinhood Shares
The most valuable forfeited asset was $606 million from the sale of Robinhood shares, held by Emergent Fidelity Technologies, one of SBF’s firms.
Other seized financial assets include:
✅ $119 million in Tether (USDT) on Binance for Alameda Research
✅ $21 million in Marex, held for Emergent Fidelity Technologies
✅ $50 million in Moonstone Bank, designated for FTX Digital Markets
✅ $101 million in Silvergate, also for FTX Digital Markets
✅ $7 million in Flagstar Bank, held under SBF and another individual
✈️ Two Private Jets Among the Seized Assets
Luxury items seized in the case include two private jets:
2009 Bombardier Global 50002006 Embraer Legacy
These jets were part of Bankman-Fried’s extravagant lifestyle, despite his public image as a modest billionaire.
🔗 Alameda’s Crypto Portfolio – Millions in Digital Assets
Alongside traditional assets, the government seized a significant cryptocurrency portfolio belonging to Alameda Research, the trading firm co-founded by SBF.
📌 According to records, assets on Binance included:
$56 million in XRP (Ripple)$3.6 million in TRX (Tron)$3.4 million in ADA (Cardano)$2.3 million in BTC (Bitcoin)Numerous other smaller cryptocurrency holdings
💸 Political Donations Totaling Hundreds of Millions
Court filings also exposed a vast network of political contributions, with over 250 individual donations.
🔹 FTX and SBF played a major role in financing U.S. politics, with one in three members of Congress reportedly receiving funds from Bankman-Fried or other FTX executives.
🔹 Donations were distributed among various campaigns and organizations, spanning both federal and state-level political entities.
🔹 Documents suggest that some FTX executives made donations on behalf of SBF, possibly to bypass political funding limits.
⚖️ FTX Begins First Payouts to Creditors
Alongside the asset forfeiture ruling, FTX has begun its first round of repayments to creditors.
✅ A total of $1.2 billion has been distributed to those with smaller claims.
✅ These creditors received approximately 119% of their original holdings, based on the value they had at the time of FTX’s collapse in 2022.
✅ However, they missed out on the significant crypto market recovery that could have yielded even greater returns.
🔮 What’s Next?
🔹 More rounds of FTX creditor repayments are expected – the key question remains whether all victims will receive fair compensation.
🔹 Investigations into SBF’s political funding could lead to further legal consequences.
🔹 The fate of luxury assets, including the private jets, will likely be decided through government auctions.
👉 What do you think about the fate of Sam Bankman-Fried’s seized assets? Should the government redistribute the funds to affected investors? Share your thoughts! ⚖️🚀
#SamBankman-Fried , #FTX , #CryptoNewss , #CryptoFraud , #FTXScamAlert
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
The U.S. government has officially finalized the confiscation of Sam Bankman-Fried's (SBF) assets, the former CEO of the collapsed FTX exchange. Among the most notable items on the nearly $1 billion forfeiture list are $606 million from the sale of Robinhood shares and two private jets.
Court documents detail dozens of pages of assets that SBF owned before his conviction for fraud, including vast cryptocurrency holdings, bank accounts, investments, and political contributions.
💰 The Largest Asset: $606 Million in Robinhood Shares
The most valuable forfeited asset was $606 million from the sale of Robinhood shares, held by Emergent Fidelity Technologies, one of SBF’s firms.
Other seized financial assets include:
✅ $119 million in Tether (USDT) on Binance for Alameda Research
✅ $21 million in Marex, held for Emergent Fidelity Technologies
✅ $50 million in Moonstone Bank, designated for FTX Digital Markets
✅ $101 million in Silvergate, also for FTX Digital Markets
✅ $7 million in Flagstar Bank, held under SBF and another individual
✈️ Two Private Jets Among the Seized Assets
Luxury items seized in the case include two private jets:
2009 Bombardier Global 50002006 Embraer Legacy
These jets were part of Bankman-Fried’s extravagant lifestyle, despite his public image as a modest billionaire.
🔗 Alameda’s Crypto Portfolio – Millions in Digital Assets
Alongside traditional assets, the government seized a significant cryptocurrency portfolio belonging to Alameda Research, the trading firm co-founded by SBF.
📌 According to records, assets on Binance included:
$56 million in XRP (Ripple)$3.6 million in TRX (Tron)$3.4 million in ADA (Cardano)$2.3 million in BTC (Bitcoin)Numerous other smaller cryptocurrency holdings
💸 Political Donations Totaling Hundreds of Millions
Court filings also exposed a vast network of political contributions, with over 250 individual donations.
🔹 FTX and SBF played a major role in financing U.S. politics, with one in three members of Congress reportedly receiving funds from Bankman-Fried or other FTX executives.
🔹 Donations were distributed among various campaigns and organizations, spanning both federal and state-level political entities.
🔹 Documents suggest that some FTX executives made donations on behalf of SBF, possibly to bypass political funding limits.
⚖️ FTX Begins First Payouts to Creditors
Alongside the asset forfeiture ruling, FTX has begun its first round of repayments to creditors.
✅ A total of $1.2 billion has been distributed to those with smaller claims.
✅ These creditors received approximately 119% of their original holdings, based on the value they had at the time of FTX’s collapse in 2022.
✅ However, they missed out on the significant crypto market recovery that could have yielded even greater returns.
🔮 What’s Next?
🔹 More rounds of FTX creditor repayments are expected – the key question remains whether all victims will receive fair compensation.
🔹 Investigations into SBF’s political funding could lead to further legal consequences.
🔹 The fate of luxury assets, including the private jets, will likely be decided through government auctions.
👉 What do you think about the fate of Sam Bankman-Fried’s seized assets? Should the government redistribute the funds to affected investors? Share your thoughts! ⚖️🚀
#SamBankman-Fried , #FTX , #CryptoNewss , #CryptoFraud , #FTXScamAlert
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Celsius Network Founder Faces 20-Year Prison Sentence for Fraud ---
Date: May 7, 2025
Location: New York, USA
Alexander Mashinsky, the founder and former CEO of the now-defunct cryptocurrency lending platform Celsius Network, is facing a potential 20-year prison sentence. Federal prosecutors have accused him of orchestrating a deliberate and calculated fraud scheme that led to nearly $7 billion in customer losses. Mashinsky pleaded guilty in December 2024 to commodities fraud and securities fraud charges, admitting to manipulating the price of Celsius's proprietary token, CEL, and misleading investors about the company's financial health. He profited approximately $48 million by selling his CEL holdings at inflated prices before the company's collapse in July 2022.
Defense attorneys are seeking a more lenient sentence of no more than 366 days, arguing that Mashinsky's actions were not predatory and attributing the company's downfall to a broader market downturn. Sentencing is scheduled for May 8, 2025, in a Manhattan federal court.
---
*Alexander Mashinsky, founder and former CEO of Celsius Network, leaves Manhattan federal court on July 13, 2023. *
---
For more details, you can read the full article here:
🔗 Prosecutors seek 20-year prison term for founder of failed crypto platform Celsius
#celsiusNetwork
Location: New York, USA
Alexander Mashinsky, the founder and former CEO of the now-defunct cryptocurrency lending platform Celsius Network, is facing a potential 20-year prison sentence. Federal prosecutors have accused him of orchestrating a deliberate and calculated fraud scheme that led to nearly $7 billion in customer losses. Mashinsky pleaded guilty in December 2024 to commodities fraud and securities fraud charges, admitting to manipulating the price of Celsius's proprietary token, CEL, and misleading investors about the company's financial health. He profited approximately $48 million by selling his CEL holdings at inflated prices before the company's collapse in July 2022.
Defense attorneys are seeking a more lenient sentence of no more than 366 days, arguing that Mashinsky's actions were not predatory and attributing the company's downfall to a broader market downturn. Sentencing is scheduled for May 8, 2025, in a Manhattan federal court.
---
*Alexander Mashinsky, founder and former CEO of Celsius Network, leaves Manhattan federal court on July 13, 2023. *
---
For more details, you can read the full article here:
🔗 Prosecutors seek 20-year prison term for founder of failed crypto platform Celsius
#celsiusNetwork
Nigeria: EFCC Arrests 792 Suspects in Cryptocurrency Fraud Scheme
Commission Uncovers Massive Cryptocurrency Scam
Nigeria’s Economic and Financial Crimes Commission (EFCC) conducted a raid resulting in the arrest of 792 suspects involved in schemes known as crypto romance scams. The fraudsters convinced victims to invest in fake cryptocurrency projects, leading to significant financial losses.
Links to International Groups
EFCC spokesperson Wilson Uwujaren revealed that among those arrested were 148 Chinese nationals and 40 Filipino citizens. The scammers operated from a luxury building in Lagos, Nigeria’s commercial hub. Most of the victims were citizens of the United States and Europe.
During the raid, agents seized computers, mobile phones, and vehicles. Uwujaren stated that Nigerian fraudsters were recruited by international groups to target victims online using phishing techniques. Once the victims’ trust was gained, their information was handed over to foreign counterparts, who carried out the fraud.
Collaboration with International Partners
The EFCC announced it is working with international partners to identify potential links to organized crime. This collaboration aims to strengthen actions against similar fraudulent activities.
Another Case: Nigerian Scammer Defrauds Australians of $5 Million
The arrests follow a separate case involving Osang Otukpa, who allegedly defrauded 139 Australians of $5.04 million (8 million AUD) through a fraudulent cryptocurrency platform called Liquid Asset Group.
Otukpa reportedly used five different aliases and lured victims through social media. EFCC agents apprehended Otukpa on December 6, shortly after he landed at Murtala Mohammed International Airport in Lagos. According to reports, he will be charged once the investigation is complete.
Conclusion
The EFCC continues to intensify its efforts to combat cryptocurrency fraud, working closely with global partners to curb these illegal activities. The crackdown on 792 suspects and cases like Otukpa’s highlight Nigeria’s strengthened fight against financial crimes.
#hackers , #Cryptoscam , #cryptofraud , #CryptoSecurity , #CryptoNewss
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Nigeria’s Economic and Financial Crimes Commission (EFCC) conducted a raid resulting in the arrest of 792 suspects involved in schemes known as crypto romance scams. The fraudsters convinced victims to invest in fake cryptocurrency projects, leading to significant financial losses.
Links to International Groups
EFCC spokesperson Wilson Uwujaren revealed that among those arrested were 148 Chinese nationals and 40 Filipino citizens. The scammers operated from a luxury building in Lagos, Nigeria’s commercial hub. Most of the victims were citizens of the United States and Europe.
During the raid, agents seized computers, mobile phones, and vehicles. Uwujaren stated that Nigerian fraudsters were recruited by international groups to target victims online using phishing techniques. Once the victims’ trust was gained, their information was handed over to foreign counterparts, who carried out the fraud.
Collaboration with International Partners
The EFCC announced it is working with international partners to identify potential links to organized crime. This collaboration aims to strengthen actions against similar fraudulent activities.
Another Case: Nigerian Scammer Defrauds Australians of $5 Million
The arrests follow a separate case involving Osang Otukpa, who allegedly defrauded 139 Australians of $5.04 million (8 million AUD) through a fraudulent cryptocurrency platform called Liquid Asset Group.
Otukpa reportedly used five different aliases and lured victims through social media. EFCC agents apprehended Otukpa on December 6, shortly after he landed at Murtala Mohammed International Airport in Lagos. According to reports, he will be charged once the investigation is complete.
Conclusion
The EFCC continues to intensify its efforts to combat cryptocurrency fraud, working closely with global partners to curb these illegal activities. The crackdown on 792 suspects and cases like Otukpa’s highlight Nigeria’s strengthened fight against financial crimes.
#hackers , #Cryptoscam , #cryptofraud , #CryptoSecurity , #CryptoNewss
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
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