CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data

ponzi

Policy

CFTC Charges 2 Men With Running a $44M Crypto Ponzi Scheme

Sam Ikkurty and Ravishankar Avadhanam are accused of using YouTube videos to dupe would-be clients into investing in various crypto funds.

By Cheyenne Ligon

May 19, 2022 at 9:55 p.m. UTC

May 19, 2022

FraudPonziCFTCCrimeRegulation

Policy

Miners

New York Man Arrested for Alleged $1.8M Crypto Mining Scam

Authorities say 37-year-old Chet Stojanovich promised to take a customer on 31-hour road trip to see the non-existent mining equipment in Canada – and then abandoned him at the Buffalo airport.

By Cheyenne Ligon

Apr 21, 2022 at 6:12 p.m. UTC

Apr 21, 2022

MinersFraudPonziUSFBI

Crypto Explainer+

Learn

The Story Behind QuadrigaCX and Gerald Cotten, Netflix’s ‘Crypto King’

As a new Netflix documentary takes on one of the most notorious crypto scandals, we outline what we know – and what is still debated – in the tale of lost millions and the person at its core.

By Toby Bochan

Mar 25, 2022 at 8:39 p.m. UTC

Mar 25, 2022

Beginner

LearnBeginnerindustryQuadrigaCXPonziCanadaGerald Cotten

Policy

Ponzi

Former CPA Pleads Guilty to Helping BitClub Architect Launder Funds in Alleged $722M Ponzi Scheme

The 57-year-old Nevada man pleaded guilty to one count of conspiracy to commit money laundering and one count of aiding in the preparation of a false tax return.

By Cheyenne Ligon

Mar 24, 2022 at 8:19 p.m. UTC

Mar 24, 2022

PonziCrimeFraudMoney LaunderingNevadaDepartment of Justice

Policy

Cftc

CFTC Brings Charges Against 4 Alleged Operators of $44M Bitcoin Ponzi Scheme

Tuesday’s charges are just the latest in the regulator's efforts to regulate the crypto industry.

By Cheyenne Ligon

Mar 8, 2022 at 8:02 p.m. UTC

Mar 8, 2022

CFTCPonziFraud

Policy

Bitconnect

BitConnect Founder Indicted in $2.4B Ponzi Scheme Has Disappeared

Attorneys said efforts to locate Satish Kumbhani could remain unfruitful.

By Shaurya Malwa

Mar 1, 2022 at 8:20 a.m. UTC

Mar 1, 2022

BitconnectMarketsLawPonziJustice DepartmentUS

Layer 2

The node

Is Crypto a Ponzi? Define 'Ponzi'

It is better for all if we can speak honestly about this industry.

By Daniel Kuhn

Jan 18, 2022 at 8:51 p.m. UTC

Jan 18, 2022

The NodeNewslettersOpinionPonziScams

Markets

Sec

Self-Help Firm That Mostly Took Bitcoin as Payment Mostly Just Helped Itself, SEC Charges

Ninety-two percent of Mindset 24 investors allegedly lost some of their funds. They'd paid in over a million dollars, mostly in bitcoin.

By Danny Nelson

Sep 2, 2020 at 4:40 p.m. UTC

Sep 2, 2020

SECPonziPyramid SchemeCoinFlash

Markets

South africa

Crypto Ponzi Scheme Says It Has 'No Cash to Pay out' to Upset Investors

Hundreds of locals who used to eagerly gather outside the Bitcoin Wallet office in Ladysmith, South Africa are now mobbing the office to demand their money back.

By Daniel Kuhn

Jul 8, 2019 at 5:30 p.m. UTC

Jul 8, 2019

South AfricaPonziNewsCrypto Fraud