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Australian Law Enforcement Authorities Arrest 21 Year Old For Crypto Fraud

A 21-year old woman is due to appear in court for laundering millions of stolen funds in cryptos. The Australian Federal Police (AFP) and Australian Securities and Investments Commission (ASIC) have been conducting investigations into the multi-layered cybercrime activity for more than twelve months. This operation is now being conducted as part of the Government’s […]
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CFTC Brings Fraud Charges against Three Binary Options Brands

The Commodity Futures Trading Commission (CFTC) of the US brought charges of frauds against three binary options firms that allegedly defrauded investors of more than $10 million. Fraudulent scheme loots investors The three brands charged of fraud were Option Queen, Option King, and Option Mint. The three brands were allegedly involved in a fraud scheme. It also arrested Jared David, an Ohio resident, for running the fraud schemes between 2012 and 2016 via the three entities. He ran the operations from Sandusky. In June last year, he was taken into custody by the IRS and FBI at the Cleveland Hopkins International Airport. The CFTC registered a complaint against the defendants with the US District Court for the Northern District of Ohio. The complaint lists Davis and the three binary options firm of fraudulently soliciting over $10 million from the investors. The regulator wants to bring penalties against the perpetrators alongside permanent injunctions. They also plan to disgorge the gains made by the defendants. The CFTC highlighted that David faced 2 separate cases of the indictment with a combined 20 charges which include tax evasion, money laundering, wire fraud and obstruction of justice among others. How did Davis carry out the fraud? Davis was operating several binary options schemes using different trade names. Each of these fraudulent firms were connected to Erie Marketing LLC. The company was not registered with the US regulators, violating the national laws. Not only this, Davis solicited money from investors but never invested them with an exchange. Instead of going in favor of his investors, he was taking opposite positions in trade. This means that he earned money only if the investors lost money. This business model is similar to that of a casino where losing money is essential for some customers, other patrons and the house to gain. When soliciting funds from investors, his employees falsified their qualifications and made tall claims about guaranteed profits. They also misrepresented risk-free trades and bonuses to the customers. The US CFTC is cracking down on fraudulent and misleading financial services operations in the country. Recently, it also brought several executives related to the Yukom to enquiry and brought charges against them. The company and its CEO Lee Elbaz were involved in a $145 million swindling case that defrauded over 75,000 investors. The post CFTC Brings Fraud Charges against Three Binary Options Brands appeared first on FXTimes.com - Daily Cryptocurrency and FX News.
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Four Common Scams in Crypto

Sheer novelty and high promise of blockchain technologies draws a wide curious audience. But, paradoxically, the burgeoning blockchain space is already ripe with fraud.

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HUGE Altcoin Updates! Stellar, Binance US, Tomochain, Digibyte, NEO, Monero, Bitcoin Bakkt

Binance Adds BNB to Binance US https://finance.yahoo.com/news/binance-us-adding-7th-coin-102155751.html A brief history of the world of crypto. Plus, all of the latest news and updates from the Stellar Developers ecosystem https://medium.com/stellar-community/stellar-dev-digest-issue-14-ea71609a22b0 How TomoChain’s TomoZ intends to take on Ethereum market share! https://twitter.com/TomoChainANN/status/1173152916888096768 https://twitter.com/Altcoinbuzzio/status/1172575745584971777 https://www.altcoinbuzz.io/crypto-news/product-release/how-tomochains-tomoz-intends-to-take-on-ethereum-market-share/ Virtual Rehab with Virtual Reality is now solving real-world problems https://cryptodaily.co.uk/2019/09/apple-entry-blockchain-via-rumoured-vr-project https://www.zerohedge.com/news/2019-09-09/virtual-reality-now-solving-real-world-problems Celer Network and NEO Are Launching a Partnership https://www.altcoinbuzz.io/crypto-news/partnerships/celer-network-and-neo-are-launching-a-partnership/ Bitcoin #Bakkt Tweet https://twitter.com/Bakkt/status/1173683919687966720 Big! #Monero ready to use Zcoin’s Privacy protocol https://www.altcoinbuzz.io/crypto-news/product-release/big-monero-ready-to-use-zcoin-privacy-protocol/ #digibyte lists on UpHold https://twitter.com/DigiByteCoin/status/1173623829652004866 #bitcoin #cryptocurrency #altcoin #altcoins #crypto #btc $BTC #bitcoinprice #ethereum #electroneum #cardano #enjin #crypto.com #hpb #digibyte #bitcoinnews #btcnews #libra #chainlink #ripple #xrp #xrpripple #binance #bitcoinnewstoday #cryptonews #litecoin #cryptocurrencynews #news Bitcoin cryptocurrency altcoin altcoins crypto btc $BTC bitcoin price ethereum electroneum enjin crypto.com cardano digibyte bitcoin news btc libra chainlink ripple xrp ripple Binance bitcoin news today crypto news Litecoin cryptocurrency news hpb high performance blockchain $xrp $enj $etn $ltc $dgb $ada NOTE The information discussed on the Altcoin Buzz YouTube or other social media channels is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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Celsius Network Offers up To 12% APR on USDC, TUSD, USDT and Other Stablecoins

The Celsius app offers the industry highest rates and supports six different stablecoins all eligible to earn up to 12.03% annually with interest paid out weekly Celsius Network (https://celsius.network/), the industry-leading cryptocurrency platform, announces today it has increased interest rates for stablecoin deposits to 12.03% APR. Users who choose to earn interest in Celsius Network's blockchain-based CEL token can earn up to 30% more than the 9.25% depositors who are paid in-kind on their coins. Celsius is raising its rates because it is consistently earning higher returns on its deposits and distributes 80% of its income to its depositors; as it earns more, it distributes more. Unlike other platforms, ...Full story available on Benzinga.com
Benzinga

VanEck, SolidX Pull Bitcoin ETF Filing From SEC Consideration

Less than two weeks after VanEck and SolidX rolled out the VanEck SolidX Bitcoin Trust ETF (XBTC), a bitcoin exchange traded product aimed at institutional investors, the firms said they're withdrawing plans for bitcoin exchange traded fund aimed at a broader swath of investors. What Happened The ETF issuer and the fintech firm pulled the filing from consideration by the Securities and Exchange Commission on Sept. 13. The agency had delayed an ultimate decision on that product, as it has with various other bitcoin ETF proposals, several times, but was facing a hard and fast deadline of Oct. 18 to approve or disapprove the VanEck SolidX Bitcoin Trust. “Tuesday’s filing marks the second time VanEck and SolidX withdrew the proposed ETF. ...Full story available on Benzinga.com
Benzinga

IOTA Introduces Chronicle Permanode to Amend Scalability Issues

IOTA, a permissionless trust protocol designed to revolutionize the Internet of Things (IoT) ecosystem by facilitating a frictionless exchange of value between machines and humans, has announced the launch of Chronicle, a permanode solution the team hopes will give node operators an unlimited amount of storage space in their Tangle distributed database, according to aRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Wells Fargo Plans Blockchain-Based Internal Settlement Services

The world’s fourth-largest bank, Wells Fargo, announced plans to use its digital token to pilot internal settlement services, which would run on its distributed ledger technology (DLT) platform. Per the press release September 17, 2019, the pilot project is expected to take off in 2020 and would initially focus on USD transfers.  Digital Token forRead MoreRead More. The post by Anthonia Isichei appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager
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