ponzi

The Ethereum merge happened. Users got slightly cheaper gas and a small boost in the number of blocks created per day, along with the looming problem of censorship and the existence of decentralization in general. What's next? In fact, there is a much more dangerous problem with the new Ethereum staking. In this article, we will talk about one of the largest Ponzi schemes in history. These are big, world-famous VCs-backed validators that offer win-win conditions for anyone who wants to profitably stake their ETH. But in…

Last year, Danny de Hek was a social media guru badly in need of a social media guru. A buoyant New Zealander with geeky glasses, he dispensed advice about how to vastly expand your online audience, to a group of just 350 subscribers. He earned a living by drop shipping electronics as he searched for ways to make serious money. Then, in February, the husband of a friend sent the 52-year-old de Hek an email crowing about a company that somehow guaranteed outsize and clockwork returns. Investors in what was then known as…

The Securities and Exchange Commission filed charges against the founder and three U.S. promoters of Trade Coin Club, alleging the crypto-trading membership club operated as a Ponzi scheme that raised 82,000 bitcoins, valued at $295 million in 2018, from investors around the world. The charges against four individuals, filed on Thursday in federal court in Seattle, allege that Trade Coin Club, created and controlled by Douver Torres Braga, was a multilevel…

Blockchain skeptics and critics often deride cryptocurrency as a whole as one big pyramid scheme. And though that point might have some room for debate, the Securities and Exchange Commission is officially adding at least one more crypto venture to the ever-growing list of “definitely a scam” operations.The SEC announced charges against four people in connection with a fraudulent crypto-themed Ponzi scheme called “Trade Coin Club,” on Friday. Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor, and Jonathan…

Kevin Bacon has opened up about losing “most” of his money in Bernie Madoff’s Ponzi scheme.During Monday’s (10 October) episode of the SmartLess podcast, hosted by fellow actors Sean Hayes, Jason Bateman and Will Arnett, the Footloose star revealed that he and his wife, Kyra Sedgwick, had invested and lost “most of our money” in Madoff’s $50b (£45.2b) Ponzi scheme. “There’s obvious life lessons there. You know, if something is too good to be true, it’s too good to be true,” Bacon reflected.“When something like that…

It's a day of the week ending in the letter "y," which inevitably means there's news of in the cryptocurrency world. The Securities and Exchange Commission has charged 11 people who allegedly set up and promoted Forsage, which it said was a crypto Ponzi scheme that pulled in over $300 million from retail investors. The agency asserts that Forsage enabled millions of people to engage in transactions through smart contracts on the Ethereum, Tron, and Binance blockchains. It alleged that Forsage had essentially been…

Celsius on Thursday was sued by former investment manager Jason Stone, as pressure continues to mount on the firm amid a crash in cryptocurrency prices. Stone has alleged, among other things, that Celsius CEO Alex Mashinsky (above) was "able to enrich himself considerably."Piaras Ó Mídheach | Sportsfile for Web Summit | Getty ImagesCrypto lender Celsius artificially inflated the price of its own digital coin, failed to hedge risk and engaged in activities that amounted to fraud, a lawsuit alleges.Celsius on Thursday was…

Photo: T. Schneider (Shutterstock)The after shakes of the recent crypto earthquake have brought down the roofs of several crypto lenders and exchanges, and some of those who once happily played in the crypto sandbox with the big players are now racing to sue before all the money is shaken out of their pockets.KeyFi Inc., which once operated as an asset manager for the crypto exchange Celsius, turned around and sued their former partner in New York State supreme court Thursday, arguing that the broker had been operating a…

The sheer size of the GainBitcoin scam that rocked the nation some time back is turning out to be way bigger than thought, with reports suggesting that around 1 lakh victims may have lost more than Rs 1 trillion in the scam.With a total of 40 FIRs registered by victims (more than 13 FIRs in Maharashtra alone)and Punjab, a large number of people from other states may have also lost their hard-earned savings in the GainBitcoin scam.Amit Bhardwaj, the mastermind who died of cardiac arrest earlier this year, may have…