Fraud Archives - CoinDesk

Fraud

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Wanted Wirecard Exec Said to Be Sheltered by Secret Service in Russia

Daniel PalmerJul 20, 2020

Jan Marsalek, a former board member of Wirecard who is wanted over allegations of fraud, is reportedly being sheltered in Moscow by the biggest Russian secret service.

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Fraud

Third Centra Tech Founder Pleads Guilty to ICO Fraud

Danny NelsonJul 17, 2020

Centra Tech one of the most storied scams of the the 2017 ICO bubble. Its founders have fallen like dominoes since.

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Ponzi Schemes

Inside a Crypto ‘Ponzi’: How the $6.5M Banana.Fund Fraud Unravelled

Danny NelsonAug 3, 2020

U.S. authorities are trying to return $6.5 million in bitcoin and tether to the victims of an alleged Ponzi scheme.

PPP Loans

Texas Man’s Alleged Use of PPP Funds for Crypto Instead of BBQ Has Feds Asking ‘Where’s the Beef?’

Danny NelsonJul 14, 2020

Investigators could not find any online reviews, any documented employees or any established bank account for the defendant's purported BBQ company.

Fraud

BitClub Programmer Admits Mining Scheme Stole $722M in Bitcoin

Danny NelsonJul 9, 2020

The Romanian programmer pleaded guilty to wire fraud and the offering and sale of unregistered securities.

Fraud

South Africa

Crypto Firm CEO Went Into Hiding After Claims 2,000 Investors Defrauded

Sebastian SinclairJul 6, 2020

The CEO of cryptocurrency investment firm VaultAge Solutions has forced into bankruptcy while on the run from angry investors.

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Fraud

Digital Currency Guru of $568M Cyber Fraud Forum Pleads Guilty

Danny NelsonJun 29, 2020

Sergey Medvedev pleaded guilty to racketeering charges as part of a $568 million payment card fraud forum, which used Liberty Reserve and bitcoin to launder funds.

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Wirecard

Crypto.com to Refund Clients as Wirecard’s Card Issuer Told to Cease Operations

Paddy BakerJun 26, 2020

Card issuer Crypto.com is refunding 100% of customer balances after the U.K. regulator ordered Wirecard Card solutions to cease operations.

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Investment Fraud

How to Spot a Crypto Scam

John BiggsJun 24, 2020

Another scammer is impersonating the CoinDesk website and offering impossible investment returns. We did some digging.

Fraud

Alleged Shopin ICO Fraudster Pays $450K Fine in Ether

Danny NelsonJun 23, 2020

Eran Eyal, who raised $42 million in an allegedly fraudulent initial coin offering, settled charges with the SEC and paid a $450,000 fine in ether.

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Fraud

SEC Claims Brothers Lied About Digital Asset Fund Performance, Used Profits for Personal Use

Danny NelsonJun 19, 2020

The U.S. Securities and Exchange Commission moved Friday to halt an allegedly fraudulent digital asset investment fund run by two Pennsylvania brothers.