Tag: Fraud

Ugandan Crypto Ponzi Scheme Founder Arrested After Pocketing $2 Million

Cryptocurrency scams and Ponzi Schemes seem more prolific in Asia and Africa One Ugandan scammer by the name of Samson Lwanga was recently arrested.  In Africa, virtually everyone wants to make extra money as quickly as possible. Another Ugandan Ponzi Scheme Shuts Down It is for this reason that scams and Ponzi Schemes are so popular. Most of these projects tend to disappear pretty quickly after raising a fair bit …
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BitQyck Founders Agree to Return $8.4m to Defrauded Investors

Numerous ICO projects have been flagged as illegal securities. A lot of those companies are now under investigation by the SEC. The company behind BitQyck, which allegedly defrauded investors, had its founders agree to pay $8.4m in damages. This is a key development for current and future investigations.  The BitQyck Scheme While many people assumed the BitQyck token was perfectly legitimate, it did not take long to notice something was …
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Top 6 Cryptocurrency Exit Scams

Every time money is involved in any business model or project, there is a good chance an exit scam will occur sooner or later. In the cryptocurrency industry, such exit scams are a lot more common than one might think. The following examples show how one should never trust another person on the internet, no matter the business model involved. Influencer Crypto Brahma’s Moon Club It is not uncommon to …
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Top 7 21st-Century Ponzi Schemes

In the financial world, there will always be people with less than honest intentions. That is only to be expected, primarily because a lot of people want to make money at all costs. Ponzi Schemes are often a great way to attract a lot of money, even though they will always be shut down in the end. The following 21st-century examples show how crafty scammers can get. Mutual Benefits Company …
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