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Those first three scams are directly related to investing in cryptocurrency, but others – such as the luridly named “pig butchering” scam – try to prey on those who haven’t even begun to ...
BOSTON (Reuters) -Three cryptocurrency companies and 15 people have been charged with engaging in widespread fraud and market manipulation following an investigation in which the FBI for the first ...
People 60 years old and older filed more than 16,000 complaints of cryptocurrency fraud and reported losing over $1.6 billion, much more than any other age group. People under 20 had the fewest ...
On March 27, 2023, the Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and Changpeng Zhao in the United States District Court for the Northern District of Illinois, claiming willful evasion of US law and allegedly breaching derivatives rules. In the lawsuit, three unidentified trading firms were cited as "VIP ...
Save the Kids was additionally credited as one of the focus examples for the growing trend of cryptocurrency scams, to which more than $80 million has been lost so far mostly from younger audiences buying into the currencies simply from the hype. [5] [10]
Unfortunately, in the Wild West of cryptocurrency, consumers and legislators struggle to discern a deliberate scam from a well-intentioned business that goes bust.
In April 2022, Stephen "Coffeezilla" Findeisen, a prominent independent researcher who investigates crypto scams, accused the SafeMoon team of misappropriating millions of dollars. [42] According to Findeisen, SafeMoon CEO Karony had been removing funds from the liquidity pool which is the primary explanation of the crypto's price pattern ...
These price swings are exacerbated by things like social media, crypto scams and a changing regulatory environment. For example, early during the COVID-19 pandemic, Bitcoin’s price plunged from ...