#bitcoinFraud

[thecryptonewshub]

Police Issue Warrant for Bitcoin Billionaire Kevin Segal Over $50K Bond Scam

Authorities have issued a warrant for Bitcoin billionaire Kevin Segal, who faces serious charges over a $50,000 bond scam that involved Wyoming businesses. The recent case surrounding Bitcoin billionaire Kevin Segal has made headlines as police issue an arrest warrant over a serious $50,000 bond scam. Segal, a self-proclaimed Bitcoin billionaire, allegedly failed to appear for a scheduled court hearing after a friend posted his bond. The 30-year-old from California is accused of swindling businesses in Wyoming out of a staggering $212,000.

According to reports, Segal attempted to portray himself as a wealthy businessman, looking to invest millions into real estate in the Jackson Hole area. However, his actions raised red flags when he left a trail of unpaid bills, including at luxury resorts and local businesses. The authorities soon began to take notice, leading to serious criminal charges. Also Read:  hayden-davis-launches-wolf-coin-despite-interpol-notice-a-bold-move-in-crypto/ According to sources, Segal attempted to pitch himself as a wealthy businessman seeking to invest millions of dollars in Jackson Hole real estate. However, his actions prompted suspicions when he left a trail of unpaid bills, including those at luxury resorts and local companies. The authorities immediately took note, which resulted in hefty criminal accusations. One of the most notable aspects of the case is the role of Jason Irvine, who assisted Segal in posting the $50,000 bond. Irvine, believing he was supporting a friend in need, ended up maxing out three credit cards to cover the expenses. However, Segal's inability to appear in court and blatant contempt for legal commitments have escalated the situation, with a possible 141-year prison sentence if convicted. Judge Bill Simpson issued a bench warrant for Segal, making it valid in all 50 states. This move comes after Segal failed to submit his passport, aggravating his legal status. The case has sparked concerns about cryptocurrency leaders' involvement in legal difficulties, refocusing attention on the dark side of the digital currency realm. This bond scam case shows the continued difficulty that governments confront in regulating the burgeoning bitcoin economy. While Bitcoin has grown in popularity and acceptance, it has also attracted people who use the anonymity it provides for nefarious purposes. In Segal's case, his extravagant lifestyle and high-profile character appear to have helped him persuade others to back his plans. It is unclear how Segal's legal actions will progress, but one thing is certain: this case serves as a sharp reminder of the perils involved with the unfettered rise of cryptocurrencies in the commercial sector. Read the full article

[reneleijen]

Kelder wint hoger beroep tegen Google in zaak over nepadvertenties

Google is wel degelijk aansprakelijk voor alle nepadvertenties waarin Jort Kelder bitcoins aanprees. De zoekmachine deed in 2020 te weinig om de nepadvertenties, waarin – zonder toestemming – een foto van Kelder stond, te weren. De advertenties leidden naar websites van bitcoinfraudeurs. Volgens Kelder waren er wel ‘2500 keer aantoonbaar advertenties met mijn beeltenis’ te vinden. Hij daagde…

[cryptostore-blog]

Bitcoin scammers in Singapore have found a new way to cheat people and avoid Police cases at the same time

[konektafrica]

The Wild Wild west of Fraud and Ponzi schemes

Africa has become the wild wild west of Ponzi schemes. The new and upcoming Ponzi artists are working hard to separate people from their hard earned savings. The impacts of scam and Ponzi schemes on vulnerable populations can be far-reaching and long-lasting, affecting not only individuals and their families but also the broader community and economy.

They undermine the real efforts for financial inclusion in many countries in Africa, as they also deter people from participating in formal legal financial services and lead to a distrust of legitimate investment opportunities.

First an appeal to greed. Investment schemes promise high returns on investment but rely on new investors' money to pay returns to earlier investors. In Africa, quick money schemes have become a widespread problem, to name the new scammy very active entreprenors:

Qnet,

MonHeveadotcom

Mekit Invest,

OpenAiMali,

Sonnedix,

PetronPay,

Mygoldrev,

ICC service,

J Global.

This article seeks to examine the reasons why Ponzi scheme artists are so easily defrauding millions of small investors savings in Africa, and the impacts of Ponzi schemes on the African economy, KonektAfrica try to propose potential solutions to address the problem.

The Vulnerability of Small Investors

We have all received our "Dear friend the Nigerian Prince email", and wondered how could one believe in such obvious misrepresentation of truth? Well, with socioeconomic and political contexts playing a significant role, the crucial factor is the lack of financial literacy. Which leaves many individuals unable to differentiate between legitimate investment opportunities and fraudulent schemes. Limited access to formal financial services and low levels of financial inclusion further exacerbate this issue, as many people turn to informal networks and non-traditional sources of credit and investment.

Additionally, the lack of clear legislation regarding new financial activities, —Crypto— high rates of unemployment, making people more likely to take risks in the hope of quickly improving their financial situation. This vulnerability can be exploited by scammers who promise 50% per week returns with little to no risk.

Another important factor contributing to the vulnerability of people in Africa to scams and Ponzi schemes is the widespread use of digital technology, particularly mobile phones, which has enabled new forms of financial fraud. With the rapid growth of mobile money services and online transactions, scammers can more easily target a broader range of potential victims, even in remote areas. Furthermore, weak regulatory environments and limited enforcement capacities in some African countries can make it challenging to effectively combat financial fraud, as scammers can operate with relative impunity. Social and cultural factors, such as the reliance on trust within close-knit communities, can also be manipulated by scammers who use personal relationships to recruit new investors. These factors, combined with the allure of high returns and the desire for a better life, can make people in Africa particularly vulnerable to scams and Ponzi schemes.

Small investors in Africa are particularly vulnerable to Ponzi schemes due to several factors, including limited financial literacy, limited access to formal financial services, and high levels of poverty. Many small investors are unaware of the risks associated with investing and are easily lured by promises of high returns. In addition, the lack of access to formal financial services leaves many small investors with limited investment options, making them more susceptible to Ponzi schemes.

The Impacts of Ponzi Schemes on the African Economy

The belief that only vulnerable Africans fall victim to scams and Ponzi schemes is debunked when one considers the cases of MMM Global and Bernie Madoff's infamous Ponzi scheme. MMM Global, created by Sergei Mavrodi, was a fraudulent investment scheme that operated in multiple countries, including Russia, China, and South Africa.

At its peak, MMM Global reportedly had over 30 million participants, and it is estimated that investors lost as much as $1.2 billion when the scheme collapsed. This global reach of MMM shows that individuals from various cultural, economic, and social backgrounds can be susceptible to such schemes, not just vulnerable populations in Africa.

Similarly, Bernie Madoff's Ponzi scheme, one of the largest financial frauds in history, targeted primarily affluent individuals and institutions in the United States and Europe. Madoff's scheme, which defrauded investors of an estimated $65 billion, ensnared a wide range of victims, including sophisticated investors, high-net-worth individuals, and even charitable organizations.

The fallout from Madoff's scheme was felt globally, demonstrating that financial scams and Ponzi schemes are not exclusive to vulnerable populations in Africa or any specific region. In fact, they can have a far-reaching impact, affecting people from all walks of life and socioeconomic backgrounds. The allure of high returns and the exploitation of trust and personal relationships are universal factors that contribute to the success of such schemes, transcending geographical and cultural boundaries.

The impacts of Ponzi schemes on the African economy are significant, including the loss of savings for small investors, the erosion of trust in the financial system, and the potential for wider economic impacts.

When a scam or Ponzi scheme collapses, investors often lose their entire investment, as the funds have been diverted to pay earlier investors or have been misappropriated by the scheme's operators. These losses are particularly devastating for those with limited financial resources. The consequences of such losses can extend beyond the immediate financial impact, as individuals struggle to recover from the financial setback, potentially leading to long-term (more)financial instability. The loss of savings and financial ruin resulting from scams and Ponzi schemes can have a profound and lasting impact on the lives of those affected, as well as on their communities and the wider economy.

Potential Solutions…(Keep reading)

[superdenial11]

Recently, a 75-year-old lady had been seen warning people about the dangers of a bitcoin fraud that has destroyed her life's savings. Frances Foster, who lives in Plymouth, suffered an £11,000 loss when she came across a bogus firm online which promised high returns. She claimed someone from the company even contacted her to wish "happy Christmas" in December suggesting how she got enthralled in the scam.

[thecryptonewshub]

Pig Butchering Scams Just Got Smarter: The 40% Surge in Crypto Fraud

Why Pig Butchering Scams Are Evolving and How to Protect Yourself from Faster Crypto Fraud Pig Butchering scams are a growing threat in the world of cryptocurrency, and new reports show that they are evolving with alarming speed. With a 40% surge in these scams in recent months, cybercriminals are becoming more efficient and sophisticated, targeting unsuspecting victims with increasing success. In this post, we’ll dive into what Pig Butchering scams are, how scammers are adapting to their techniques, and what steps you can take to protect yourself.

What are pig butchering scams? Pig Butchering scams are a sort of fraud in which scammers trick their victims into investing in phoney cryptocurrency or financial prospects. The scam's name refers to the process of "fattening up" a victim before "slaughtering" them, which means that the fraudsters spend weeks or months developing a connection with their target, convincing them to invest significant sums of money, only to depart with the funds once the victim has fully committed. Also Read: tether-acquires-minority-stake-in-juventus-to-drive-blockchain-adoption-in-sports These frauds typically begin innocently with social media or dating app conversations. The fraudster, who frequently pretends to be a wealthy entrepreneur or attractive individual, establishes rapport with the victim. They gradually explain the concept of a simple, high-return investment opportunity in cryptocurrencies. Once the victim is hooked, they are encouraged to contribute money, and the fraudsters use their trust to steal even more. Why Are Pig Butchering Scams Moving Faster? The recent increase in Pig Butchering scams can be ascribed to the skill of the fraudsters perpetrating them. A mix of modern technology, social engineering, and a better grasp of how to manipulate human emotions enables these schemes to function with more precision and fewer indications of fraud. These scammers employ high-quality phoney websites, bitcoin wallets, and even make fraudulent transactions appear legitimate. Furthermore, the uncontrolled nature of bitcoin, as well as its growing popularity among mainstream consumers, make it an ideal target for scammers. The anonymity of digital currencies makes it harder to track down stolen funds, providing criminals a huge edge in avoiding detection. A 40% increase in cryptocurrency fraud. According to recent data, reported incidents of pig butchering scams have increased by 40% over the last year. The spike is a concerning warning that these scams are not only here to stay, but are growing with the times. Scammers are learning how to create more credible personas, use more complex strategies, and speed up the "slaughter" of their victims. The surge in these frauds might also be ascribed to the growing number of new cryptocurrency investors. As more people become involved in digital currencies, scammers will have greater opportunity to target vulnerable individuals, particularly those who are unfamiliar with the complexities of bitcoin trading. How to Protect Yourself from Pig Butchering Scam Given the sophistication of the Pig Butchering frauds, it is critical to remain attentive and educated. Here are some ways you can protect yourself: Be wary of unwanted messages: If someone you don't know reaches you via social media, email, or dating apps, especially if they're proposing investment opportunities, exercise care. Never transmit money to someone or invest in a bitcoin opportunity without thoroughly researching the source. Always check the validity of any platform or investment. Use trustworthy exchanges and wallets: When purchasing and selling digital currencies, stick to well-known and regulated cryptocurrency exchanges. Check for red flags: Be wary of claims of huge profits with little risk, unwanted contact, or any type of hurry that forces you to make rapid judgements. Educate yourself on crypto scams: Learn about common cryptocurrency fraud strategies and how to identify them before it's too late. Read the full article

[cryptocoingrowth]

Nasdaq Says It Can Stop Cryptocurrency Market Manipulation

Nasdaq Says It Can Stop Cryptocurrency Market Manipulation #AltcoinNews #Bitcoin #bitcoinfraud

Nasdaq says it can lead the fight against market manipulation and fraud that has been plaguing the cryptocurrency market. In fact, a few exchange platforms are already adopting the exchange operator’s market surveillance technology.

Helping to Combat Cryptocurrency Fraud

According to Bloomberg, the U.S. stock exchange behemoth believes it can solve some of crypto’s issues – fraud and market…

[reneleijen]

Bejaarde vrouw via Facebook opgelicht door "Marco Borsato"

Bejaarde vrouw via Facebook opgelicht door “Marco Borsato”

Ze ging voor 22 mille het schip in, na te hebben geklikt op een facebook-advertentie van ‘Marco Borsato’. De vrouw (75, uit Veldhoven) vertrouwde echter de verkeerde advertentie, die van bitcoin-oplichters bleek te zijn. Ze durfde het aanvankelijk haar eigen kinderen niet te vertellen maar doet in het AD nu haar verhaal. ‘Ik ben niet de eerste die erin is getrapt en ook zeker niet de laatste. Ik…

[cryptostore-blog]

✅ Bitcoin Fraud Victim Suffers A Huge Loss In Life Savings ✅ Read Out More 👉 https://buff.ly/37kbPbT

#Bitcoin #BitcoinFraud #FrancesFoster #FrancesFosterBitcoinFraud #FrancesFosterBitcoinFraudCase #BitcoinFraudCases #MsnNews #LtcMarkets #Actionfraud #CryptoScams #Bbc #Cryptocurrencies #CryptocurrencyWallets #CryptoExchange #Icos #CryptoBasedProducts #CryptoWallet #CryptoFraud #CryptocurrencyFraud #FraudsInCrypto #ScamsOfCrypto #ScamsOfCryptocurrency #CryptoTradingStrategies #CryptoTrading #DigitalCash 

[aboutict]

Ook Rusland vraagt om uitlevering verdachte enorme bitcoinfraude

Rusland wil dat Griekenland een man uitlevert die verdacht wordt van miljardenfraude met de cryptovaluta bitcoin. http://dlvr.it/Pp0dss

[bitcoin-india-fraud]

Sykam Ramakrsihna Reddy is looting people in the India Bitcoin app he created. He has now changed the logo to prevent from him getting caught in legalities. He should be caught now. He is cheating people by looting their money deposited on the app. He is buying luxurious cars by looting people on this app and living his luxurious life.  YS Jagan Mohan Reddy and YS Jagan Mark Governance is involved in this mega SCAM!.

[reneleijen]

FIOD arresteert directeur van bitcoinfabriek

FIOD arresteert directeur van bitcoinfabriek

Waren ‘Koinz Trading’ en ‘Mining Hardware Solutions’ nu echte bitcoinfabrieken of waren het ‘bordkartonnen gevels met daarachter een mannetje dat heel veel geld zat op te maken’? Voor de FIOD was er in ieder geval voldoende aanleiding om ex-directeur Berry van M. (33, uit Apeldoorn) te arresterenwegens oplichting. De verdachte zou bij honderd klanten ruim twee miljoen euro hebben buitgemaakt door…