Crypto News 

U.S. and Canadian regulators open probes into cryptocurrency scams

“WASHINGTON (Reuters) – U.S. and Canadian state securities regulators announced Monday they have launched dozens of investigations into cryptocurrency scams” writes Midwest Communications Inc for 95kqds.com. The move by state regulators to crack down on cryptocurrency scams comes amid growing attention to virtual currencies by federal regulators, including the Securities and Exchange Commission and the Commodity Futures Trading Commission.Officials said there will be additional enforcement actions to come against companies looking to defraud cryptocurrency investors.A task force convened by the group of state regulators in April has launched 70 investigations,…

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Crypto News 

U.S. state and Canadian regulators open dozens of probes into cryptocurrency scams: Washington Post

“FILE PHOTO: Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on motherboard in this illustration picture Thomson Reuters WASHINGTON (Reuters) – U.S. state and Canadian regulators have opened “as many as 70 investigations” into cryptocurrency scams, according to The Washington Post” reports businessinsider.com. The investigations, some of which have already concluded, are aimed at unregistered securities offerings and initial coin offerings that promise significant returns without informing investors of the risks, the Post reported. Source: businessinsider.com Share This:

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Crypto News 

Losses due to binary options, cryptocurrency scams grow in 2017, Australian consumer body warns

“Binary options scams appear to have peaked in 2016 and reduced in number of reports and in reported losses in 2017, the ACCC report indicates” reports financefeeds.com. Investment scam losses reported to the ACCC increased from $23.6 million in 2016 to $31.3 million in 2017, marking a 33% increase.Losses to investment scams reported to ACORN and the ACCC exceeded $64 million in 2017.Analysis of investment scam reports did not reveal any particularly new techniques used by investment scammers suggesting the same tricks used in previous years remain effective. Source: financefeeds.com Share…

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Crypto News 

Investors have placed $1 billion in cryptocurrency offerings rampant with red flags for fraud: Report

“In a review of 1,450 digital coin offerings, the Journal said it found 271 bore red flags such as plagiarized documents or fake executive information” writes Alan Schein Photography for cnbc.com. Investors have sent $1 billion into digital coin projects that flash warning signs for fraud, The Wall Street Journal reported Thursday, citing its own analysis.Many initial coin offerings officially prohibit U.S. citizens and residents from participating out of fear of regulatory crackdown.The coin sales, or “initial coin offerings,” give investors the chance to buy into a new digital token…

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Crypto News 

SEC sets up a fake ICO to warn naive investors against cryptocurrency scams

“On May 16, the government agency announced a brand new cryptocurrency, HoweyCoin, which promises to revolutionize the luxury travel industry” writes Neer Varshney for thenextweb.com. The US Securities and Exchange Commission (SEC) has come up with a creative way to educate naive investors against fake initial coin offerings (ICOs). Source: thenextweb.com Share This:

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Crypto News 

found 271 bore red flags such as plagiarized documents or fake executive information

“In a review of 1,450 digital coin offerings, the Journal said it found 271 bore red flags such as plagiarized documents or fake executive information” writes Alan Schein Photography for cnbc.com. Investors have sent $1 billion into digital coin projects that flash warning signs for fraud, The Wall Street Journal reported Thursday, citing its own analysis.Many initial coin offerings officially prohibit U.S. citizens and residents from participating out of fear of regulatory crackdown.The coin sales, or “initial coin offerings,” give investors the chance to buy into a new digital token…

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Crypto Markets News 

US regulator creates fake ICO to teach investors a lesson

“The spoof ICO is called HoweyCoins and is artfully presented as a method to invest funds in the luxury travel market” writes Erik Gibbs for coingeek.com. The securities regulator also created a dedicated cyber unit whose purpose is to combat fintech as well as cyber-related crimes.The securities regulator recently launched a highly useful ICO web page to demonstrate potential investment victims what are the obvious signals of frauds and scams in connection with these investments. Many investors have found that this method is a true way of losing out spectacularly…

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Number of ICO Exit Scams Rises but Amount of Stolen…

“Even though the number of exit scams rises, the amount of stolen funds remains small” writes Jp Buntinx for livebitcoinnews.com. With all of the exit scams throughout 2018 alone – excluding Savedroid – a total of $8.4m has been stolen to date.In fact, it seems the number of exit scams is on the rise as we speak.There have been a lot of successful projects, but also some worrisome exit scams.Despite these exit scams, the total amount of funds collected is still pretty small. Source: livebitcoinnews.com Share This:

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