Over the past four months, the National Cyber Security Centre, or NCSC, removed over 300,000 URLs pertaining to fake celebrity-endorsed investment opportunities. More than a half of these sites belonged to fraudulent cryptocurrency investment schemes. Per an announcement published by the NCSC on August 14, an increasing number of these scams utilized fake endorsements from national celebrities, such as Ed Sheeran and Richard Branson. This raised red flags for authorities, prompting the launch of a massive retaliatory campaign. Ciaran Martin, CEO of the NCSC, commented: “These investment scams are a striking example of the kind of methods cyber criminals are …
Last week Cointelegraph published a story about investors having difficulty getting their money back from a crypto fund called AMFEIX, which promised high-yield profits for investors who sent them Bitcoin (BTC). Our story described more than 500 pending withdrawals from users trying to get their money back, and AMFEIX’s unsatisfactory communication with those users. The company addressed its users via its official Telegram channel after the story was published, suggesting that the withdrawal delays were due to technical difficulties that had been an issue since May. It also stated that “members who show loyalty to AMFEIX will have priority” in …
The team behind Arbistar, a crypto trading bot developer, announced that it would be shutting down a popular trading tool known as Community Bot. According to a press release published by Arbicorp, the company that runs Arbistar, the platform is not currently allowing deposits. All funds have been frozen, preventing users from withdrawing their money. Users are not even able to access crypto from funds that trade with other bots. This has led financial forensic firm, Tulip Research, to warn users that Arbicorp is actually a billion-dollar crypto Ponzi scheme — a claim they say they have made “many times”: …
A Bitcoin (BTC) trading scam has claimed the involvement of the Duke and Duchess of Sussex Prince Harry Charles Albert David and his wife Meghan Markle. According to an April 9 report by the Mirror, the royal couple was featured in a fake BBC article where they praised a Bitcoin trading scheme. The fake news piece claimed that the pair talked during a television show about a “wealth loophole” that can “transform anyone into a millionaire within three to four months.” According to the fake article, the scheme would play a role in the couple's very real intentions to step …
Seven people who allegedly managed a fraudulent crypto investment scheme have been indicted in Taiwan, according to a report by English-language local media FocusTaiwan on Jan. 18. According to the report, citing local prosecutors, the defendants were charged with the violation of Taiwan's Banking and Multi-Level Marketing Supervision acts. The group was reportedly arrested on June 13 last year for allegedly operating a fraudulent Bitcoin (BTC) investment scheme. According to FocusTaiwan, the scheme promised investors yearly returns of up to 355 percent. Because of this promise — which reportedly has not been upheld since returns dwindled after April 24 — …