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Apple Lists Scam Ethereum Wallet in its App Store

“When it comes to the vetting of apps, the Apple App Store is famous for its rigorous process” reports financemagnates.com. A fake MyEtherWallet app has made it to the App Store, and this weekend Apple ranked it as the third most popular app in its category.It also assured the public that it had contacted Apple and was investigating how the fake app made it into the App Store.This developer, listed as Nam Le, has three other apps in the App Store – the other two are panda fighting games.MyEtherWallet.com is one…

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Crypto News 

A Cryptocurrency Wallet in Apple’s App Store Is Raising Security Concerns Amid Bitcoin’s Frenzy

“The iOS app, which was first uploaded a week ago, does not have the same logo as the online service” reports fortune.com. Beard: Icehole Fishermans.” Fortune has asked Apple what it is doing about the MyEtherWallet app, and will update this story as and if an explanation arrives.However, the original MyEtherWallet has nothing to do with the iOS app, as it warned users in a Sunday tweet.The developer of the app, listed as Nam Le, doesn’t seem to have any other finance apps out there.The tweet also noted that the…

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Crypto News 

Quebec Court issues prison sentence to head of virtual coin scam PlexCoin

“The prosecution against Dominic Lacroix, the head of virtual currency scam PlexCoin, has resulted in a prison sentence” reports financefeeds.com. Last week, the US Securities and Exchange Commission (SEC) launched a lawsuit against scammers PlexCorps aka PlexCoin and Sidepay.ca, Dominic Lacroix and Sabrina Paradis-Royer. Source: financefeeds.com Share This:

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SEC Puts The Hammer Down On ICO Scam

“In a press release, the SEC said the fast-moving cryptocurrency scam promised investors a 13-fold profit in under a month” reports pymnts.com. For Lacroix, the SEC also seeks an officer-and-director bar and a bar from offering digital securities against Lacroix and Paradis-Royer, the SEC said in the release.In the complaint, the SEC charged Lacroix, Paradis-Royer and PlexCorps with violating anti-fraud provisions, and Lacroix and PlexCorps with violating the registration provision of the U.S. federal securities laws. Source: pymnts.com Share This:

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Crypto News 

SEC’s Cyber Unit files first charges against digital coin scam

“This first Cyber Unit case hits all of the characteristics of a full-fledged cyber scam and is exactly the kind of misconduct the unit will be pursuing,” said Robert Cohen, chief of the Cyber Unit, according to the release” reports thehill.com. Though these are the first charges leveled by the Cyber Unit, the SEC has been taking steps to stop ICO scams.Ethereum, the second most valuable digital currency in terms of market capitalization, is currently trading near its all-time high of more than $460.The Securities and Exchange Commission’s (SEC) new Cyber…

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Crypto News 

SEC Blasts Canadian Cryptocurrency Startup As ‘Full-Fledged Cyber Scam’

“During the ICO fundraising round, which began in August, the SEC states that thousands of investors traded $15 million USD worth of cryptocurrency for PlexCoin tokens” reports vice.com. PlexCoin, a Canadian digital token startup, is flatly “a scam,” according to the US Securities and Exchange Commission. Source: vice.com Share This:

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Chinese investors sue Terry McAuliffe, GreenTech Automotive for ‘scam’

“Terry McAuliffe is being sued by a group of Chinese investors who believe they were lured into a scam by the electric car company he helped found” writes Joe Nuziale for washingtonexaminer.com. McAuliffe left the GreenTech in 2012 and has claimed that he no longer has any ties to the company since then.The suit also claims GreenTech “milked” connections to McAuliffe and former President Bill Clinton so the company could use these political ties to approve immigration paperwork much quicker.The lawsuit brought against McAuliffe and GreenTech alleges 26 of the…

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Crypto News 

CEO of cryptocurrency firm that vanished with $375,000 of investor money, lied about working for Pepsi

“The CEO of a cryptocurrency start-up that raised nearly $375,000 through an initial coin offering (ICO) and then disappeared, lied about his employment history on the company’s website, CNBC has learned” writes Arjun Kharpal for cnbc.com. On Monday, TokenLot, the firm that hosted the ICO, put out a statement saying the Confido team had “pulled an exit scam.”. A number of people in the cryptocurrency and technology world have criticized ICOs. Source: cnbc.com Share This:

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South Korean Police Bust $38 Million Bitcoin Ponzi Scam

“Seven individuals in the South Korean province of Jeonbuk have been arrested for running a large-scale $38 million scam, alluring middle-aged investors into a ponzi scheme” writes unknown author for cryptocoinsnews.com. The group initiated the ponzi scheme by establishing a “bitcoin investment firm” in Gangnam, Seoul in January of 2016. In July, the South Korean government officially regulated cryptocurrency startups as legitimate financial service providers and with such regulations in place, in the long-term, it will become more difficult for scam groups to promote ponzi schemes within the South Korean…

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