Korean Crypto Scam Fleeced Investors for Over $18.5 Million
Police have reportedly used AI to spot a cryptocurrency Ponzi scheme in South Korea that cheated investors out of $18.5 million.
The CFTC is charging Breonna Clark and Venture Capital Investments with defrauding investors by pretending to run a commodity pool invested in crypto and foreign currency contracts.
U.S. authorities have arrested three members of BitClub Network, alleging the mining pool is a long-running Ponzi scheme.
NEW: The Ontario Securities Commission has published a scathing report calling now-defunct Canadian exchange QuadrigaCX a "Ponzi," and denouncing the practices of founder and CEO Gerald Cotten.
The U.S. Securities and Exchange Commission has taken action over what it alleges is a $30 million crypto scam based on supposed diamond investment.
The OneCoin project has responded to the suggestion it is a Ponzi or pyramid scheme, arguing it does not fit a narrow definition of either.