Ponzi Archives - FortuneZ

FBI Arrests Jeremy Spence in Coin Signals’ Ponzi Scheme

January 26, 2021

US federal prosecutors have brought criminal charges against a Rhode Island-based cryptocurrency trader in a case involving a Ponzi scheme disguised as a cryptocurrency trading scheme.‎ The US Department of ...

Ministers Leveraged On Influence To Pilfer Millions In Reported Ponzi Scheme

August 29, 2020

Ministers leveraged on influence to pilfer millions in reported Ponzi scheme. A new complaint by the Securities and Exchange Commission of the United States, or SEC, is seeking action against three people for...

South Korean Authorities Nabb 12 for $18 Million Crypto Ponzi Scheme

August 4, 2019

South Korean authorities last Thursday busted a crypto-related Ponzi scheme which duped around 56,000 people for more than 21.2 million won (around $18.7 million). According to the April 8 Korea Joongang Dai...

Head of BitConnect India Arrested, Police Working to Unravel Scheme

August 20, 2018

Police in the west Indian city of Surat has arrested a local resident on suspicion of stealing tens of millions of rupees from Indian investors. Allegedly, he did this by tricking them into investing Bitcoin ...

Firm Openly Runs Pyramid Scheme and Exit Scam, Makes Millions Anyway

July 24, 2018

A cryptocurrency company called Team JUST is openly perpetrating an exit scam and a pyramid scheme and has made millions of dollars (and counting). The exit scam is called FOMO3D (URL – exitscam.me). It expl...

Half of Russian ICO Money Went to Pyramid Schemes in 2017

April 23, 2018

The Russian Association of Cryptocurrency and Blockchain (RACIB) has announced that it intends to develop guidelines for initial coin offerings in Russia, hoping to distinguish between legitimate projects and...

Cryptocurrency Could Be Big Ponzi Scheme, Warns India’s Finance Minister

December 29, 2017

India’s finance ministry cautioned the country’s investors against investing or trading in Bitcoin and other cryptocurrency, saying that they are just elaborate Ponzi schemes. This danger exists in large part...

South Korea Arrests Seven Men Involved in Bitcoin Ponzi Scheme

November 22, 2017

Authorities in South Korea have reportedly arrested a group of seven individuals in the province of Jeonbuk for allegedly operating a Bitcoin Ponzi scheme, targeting middle-aged investors with no experience o...