Crypto News 

Bitcoin a New Twist for an Old Scam in…

“This Bitcoin twist on an old scam has been trending on the west coast of the United States recently” writes Jeffrey Francis for livebitcoinnews.com. People in Hawaii are victims of an old scam with a new twist, told to pay in Bitcoin to avoid their power being turned off.Now that old scam has a new cryptocurrency twist.Electric company customers in Hawaii have been targeted with such a scam but are told to pay in Bitcoin. Source: livebitcoinnews.com Share This:

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Crypto News Oil 

Venezuela is pegging its economic recovery to a cryptocurrency that’s widely considered a scam

“In February, President Nicolas Maduro unveiled the oil-backed “petro” digital currency as a means to raise cash amid an economic meltdown and economic sanctions” writes Kate Rooney for cnbc.com. The end goal, he said, is a single floating exchange rate in the future tied to the digital currency.As part of an attempt to stop skyrocketing inflation, the country is issuing a new fiat currency called the “sovereign bolivar,” which will be backed by a cryptocurrency. In March, President Donald Trump issued an executive order banning any transactions within the United…

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Venezuela’s massive currency devaluation is a ‘scam,’ analysts say

“Other measures announced in Maduro’s speech to the nation last week included highly-subsidized gas prices, a higher corporate tax rate and a massive minimum wage increase” writes unknown author for cnbc.com. The move effectively devalues Venezuela’s currency by around 96 percent, with the bolivar set to go from about 285,000 per dollar to 6 million.A major currency overhaul in Venezuela is due to come into effect Monday, with critics of the move fearful it will exacerbate hyperinflation in the crisis-stricken country. Source: cnbc.com Share This:

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Crypto News 

Bitcoin Exchanged for More than $2 Million…

“According to the South Korean businessman, the notes contained in the suitcase were simply, and poorly, photocopied” writes Nikita Blows for livebitcoinnews.com. However, after he was made aware of the scam, the victim reported the fraudster who was arrested by the police.The story began when the South Korean man, who has a Bitcoin-based business, was contacted by a Serbian buyer and his associate.The scene changes to the interior of the hotel room and shows a meeting between two men, a South Korean businessman and his Serbian associate.The latter hands over…

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Feds: South Florida-based moving scam bilked more than 900 customers

“Federal authorities have charged 12 individuals with operating a multistate South Florida-based moving scam that bilked more than 900 victims” writes Ron Hurtibise for sun-sentinel.com. The release said the scam was operated through 14 companies: First National Moving and Storage; Flagship Van Lines; Independent Van Lines; JBR Underground; National Relocation Van Lines; National Relocation Solutions; Presidential Moving Services; Public Moving and Storage; Public Moving Services; Smart Relocation Services; Trident Auto Shipping; Unified Van Lines; United National Moving and Storage; and U.S. Relocation Services.Federal law requires interstate carriers and customers to…

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Crypto News 

Police Suspect A Shipwreck Filled With Tons Of Gold Was A Cryptocurrency Scam

“This resulted in over 120,000 Korean investors sinking over $53 million into the Shinil cryptocurrency, according to The Korea Herald” reports vice.com. Shinil Group previously denied any affiliation with the entity promoting the cryptocurrency, and Motherboard hasn’t confirmed any connection.Gold was a fifth of today’s price in 2000 so this would have meant that the ship held 14,000 tons of gold. Source: vice.com Share This:

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Woman plotted to kill her mother for online love scam: police

“Binns said Reed described plans to kill her mother in text messages to the online scammer” writes Associated Press for nypost.com. RALEIGH, N.C. — An online romance scam led investigators to the discovery that a North Carolina woman with financial problems was plotting to kill her 88-year-old mother to get more money to pay the fraudster, police said. Source: nypost.com Share This:

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Bitcoin Scam Costs Finnish Man $34 Million

“Police in Thailand arrested a popular actor after allegations of his involvement in a Bitcoin scam that cost a Finnish man $34 million” writes Jeffrey Francis for livebitcoinnews.com. It should be noted that Dragon Coin has no part in this Bitcoin scam.Have you ever been burned by a Bitcoin scam?. After his arrest for his part in the Bitcoin scam, Jiratpisit “Boom” Jaravijit was eventually released on bail. Source: livebitcoinnews.com Share This:

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Cybercrime Center in UK Urges Crypto…

“In addition, they are training their police force in the intricacies involved in dealing with virtual currencies in their investigations” writes Nikita Blows for livebitcoinnews.com. Even though the price of Bitcoin is nowhere near it’s December 2017 numbers, interest in the crypto industry is still high, for both fans and fraudsters alike.Some countries, like the United Kingdom, are already leading the way in fostering mass adoption for both blockchain technology and cryptocurrencies.This comes in the wake of so-called clone firms popping up in another attempt to swindle people out of…

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