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Virtual Currency › Scams

Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender... more +
Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency.    less -
BakerHostetler

Weekly Blockchain Blog - August 2024 #4

BakerHostetler on

Financial Firms Announce Crypto Initiatives, Stablecoin Growth Continues - A major U.S. crypto investment company recently announced the launch of its Avalanche Trust, which “offers investors the opportunity to gain...more

Foodman CPAs & Advisors

Fraud Is The Number One Crime In Money Laundering

Foodman CPAs & Advisors on

On February 2024, the U.S. Treasury released the 2024 National Money Laundering Risk Assessment (NMLRA) which examines the current money laundering environment and identifies the ways in which criminals and other actors seek...more

Foodman CPAs & Advisors

Alerta De FinCEN De “Masacre De Cerdos”

Foodman CPAs & Advisors on

El 8/9/23, FinCEN emitió una alerta sobre una estafa frecuente de inversión en moneda virtual comúnmente conocida como ““masacre de cerdos” ” o “Pig Butchering”. La alerta de FinCEN sobre la “masacre de cerdos” aborda las...more

Foodman CPAs & Advisors

FinCEN’s Pig Butchering Alert

Foodman CPAs & Advisors on

On 9/8/23, FinCEN issued an alert on a prevalent Virtual Currency Investment Scam commonly known as “Pig Butchering”. FinCEN’s Pig Butchering alert addresses “Pig butchering” scams which resemble the practice of fattening a...more

BakerHostetler

Crypto Custody Services Expand; CFTC Enforcement Targets DeFi, SEC Targets NFTs; FinCEN Warns of Crypto Scams; Major Hacks Steal...

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Financial Services Firms Expand Cryptocurrency Custody Services - According to recent reports, the cryptocurrency custody arm of a major international bank has launched its institutional cryptocurrency custody services in...more

BakerHostetler

New Crypto Products Launch, Draft Digital Assets Bill Released, Regulators Address Stablecoins, DOJ Publishes Crypto Report, Hacks...

BakerHostetler on

Fintech and Crypto Firms Announce Myriad New Crypto Product Launches - This week, a major global payments firm announced the launch of a stablecoin settlement solution that leverages technology by Fireblocks, a digital...more

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #334 – Crypto Scams Continue to Top the List of Scams Reported to the FTC

Robinson+Cole Data Privacy + Security Insider on

It is tempting to get into the world of cryptocurrency investments. News items of early investors banking millions of dollars fuel the temptation. But it is an investment strategy that is fraught with fraud, so investors...more

Foodman CPAs & Advisors

¿Víctima De Cripto-Fraude? Un Contador Forense Puede Ser Capaz De Ayudar

Foodman CPAs & Advisors on

Los inversionistas en el espacio de cripto deben estar conscientes de que el cripto-fraude existe en el espacio criptográfico de la misma manera que existe y tiene lugar en el espacio fiduciario tradicional. Los...more

Dechert LLP

Bitcoin fraud: the English Court grants extensive interim remedies to protect investors

Dechert LLP on

The English High Court has granted a combination of powerful remedies including worldwide freezing orders in favour of a UK resident who fell victim to persons unknown operating a suspected cryptocurrency investment scam....more

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #291 – Cryptomining Apps Offer Fake Services for a Fee

Robinson+Cole Data Privacy + Security Insider on

Although app platforms guard against fake apps, criminals are working hard to get around app platform rules to scam victims out of a cryptobuck. Apple and Google throw apps off their platforms if they don’t play by the rules,...more

Oberheiden P.C.

Defending Against Securities Fraud Litigation Triggered by an SEC Investigation

Oberheiden P.C. on

For public and private companies in all industries, the risk of being targeted in a U.S. Securities and Exchange Commission (SEC) investigation is a very real concern. As new and innovative securities offerings continue to be...more

Polsinelli

Modern Times - SEC Moves to Freeze Assets of Alleged $12M Crypto Investment Scam

Polsinelli on

The U.S. Securities Exchange Commission (SEC) is asking a court to freeze the assets of a cryptocurrency mining and multilevel marketing scheme that allegedly defrauded investors of $12 million. The SEC's complaint alleges...more

Hogan Lovells

Michigan man sentenced to prison and ordered to repay $210,000 in crypto scam

Hogan Lovells on

A man from Michigan has been ordered to repay about $210,000 for his role in a cryptocurrency scam. The fraudster solicited investments from two people, promising them large returns, but he used the investment proceeds to buy...more

Perkins Coie

Blockchain Week in Review - November 2019

Perkins Coie on

U.S. Developments - Litigation - New York Resident Indicted for Duping Investors with Fake ICO Scam - On November 6, the United States Attorney for the Southern District of New York announced a wire fraud charge...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - April 2018 #4

Robinson & Cole LLP on

“Orangeworm” Targeting Health Care Industry - In what is being called a systematic targeting of large health care organizations, pharmaceutical companies, and IT companies and equipment manufacturers that service the...more

Porter Hedges LLP

Business Litigation Alert: "SEC Cracking Down on Cryptocurrency Scams"

Porter Hedges LLP on

Cryptocurrency (e.g. Bitcoin) seems to be in the news on practically a daily basis, with people racing to get in on the latest investment trend and companies investigating how to best incorporate cryptocurrency and block...more

Fenwick & West LLP

The SEC and Plaintiffs’ Class Action Attorneys Are Targeting Initial Coin Offerings

Fenwick & West LLP on

Issuers and other professionals participating in Initial Coin Offerings — widely known as ICOs — are facing the increasing threat of both U.S. Securities Exchange Commission enforcement actions and private class action suits...more

Robinson+Cole Data Privacy + Security Insider

Scammers Strike Enigma Initial Coin Offering

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In the latest example of security risks attendant to initial coin offerings (ICOs), on August 21st the blockchain startup Enigma reported that online scammers used fake solicitations for an ICO presale to steal approximately...more

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