Dutch Crypto Conman Scams Dozens in $2.2 Million Bitcoin Mining Fraud

By CCN: Authorities in the Netherlands have arrested a suspect who allegedly operated a bitcoin mining investment scam, according to Dutch daily De Gelrderlander. The fraudulent scheme which was reportedly started in 2017 earned the man named Berry van Mourik at least €2 million ($2.24 million). Berry was apprehended in Apeldoorn, a city in the Dutch province of Gelderland. Per the publication, van Mourik was a senior executive of two firms which sold bitcoin mining rigs. He sought investors to buy rigs with the understanding that he would operate the bitcoin mining operations on their behalf. The suspect promised the

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Russia’s KGB Successor Warns Terrorists are Turning to Cryptocurrencies

By CCN: Terrorist organizations getting support in the form of cryptocurrency are becoming the norm, according to Russia’s FSB director Alexander Bortnikov. As per local news portal RBC, citing media agency Tass, the chief of Russia’s Federal Security Service (the FSB’s successor) reported on the latest updates in the international terrorist networks at a meeting of the heads of security agencies of Commonwealth of Independent States (CIS) member states. “Electronic payment systems and cryptocurrencies are increasingly being used by terrorists to move money received from some states and organizations that support the global terrorist network,” Bortnikov noted. He said that

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Nabbed! SEC Reels in $30 Million Alleged Diamond-Backed Crypto Scam

By CCN: The U.S. SEC has secured a court order to stop an alleged diamond-backed Ponzi scheme estimated to be worth around $30 million. The securities regulator outlined how more than 300 investors were fleeced into handing over funds to Florida-based Argyle Coin LLC. SEC obtains emergency order halting alleged diamond-related ICO scheme targeting hundreds of investors https://t.co/sJIb2vCKsZ — SEC_News (@SEC_News) May 21, 2019 Jose Angel Aman is the mastermind behind the scheme. The SEC alleges that two of his other companies – Natural Diamonds Investment Co and Eagle financial Diamond Group Inc – are also part of the scam,

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Crypto Engineer Bravely Details Embarrassing $100,000 SIM-Hijack Bitcoin Theft

By CCN: SIM hijackers aiming to steal bitcoin and other cryptocurrencies are getting bolder and more daring. No longer are they just going for the soft targets but are now even pursuing the technologically adept and sophisticated. One such victim is the engineering manager at cryptocurrency custodian BitGo, Sean Coonce. In a bold move, the blockchain engineer has publicly revealed that attackers stole bitcoin worth more than $100,000 from his Coinbase account. The attackers managed this over a period of 24 hours while carefully concealing any evidence that something was amiss. Coonce dubbed the incident which occurred last week the

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Lambo-Lusting Britons Lose $34 Million to Forex, Bitcoin Investment Scams

By CCN: United Kingdom’s financial regulator, Financial Conduct Authority and the reporting center for scams and cybercrime, Action Fraud, have issued a warning following a surge in online Bitcoin and forex investment scams. Per the two bodies, Britons lost more than £27 million ($34.2 million) to fraudsters during the 2018/19 period. In 2018, reports on bitcoin and forex investment scams more than tripled to reach over 1,800 cases. The average loss for each victim during the 2018/19 period was £14,600 ($18,532). The scammers are employing social media platforms to promote these investment schemes. Typically, they are promising excessively high returns

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Indian Bitcoin Trader Hangs Himself, Blames Senior Indian Cop in Suicide Note

By CCN: A bitcoin trader in India’s Gujarat State has been pushed to suicide after incurring losses in a cryptocurrency investment he made on behalf of a senior police officer. According to Ahmedabad Mirror, the Bharat Patel hanged himself early Sunday. This was after Chirag Savani, a deputy superintendent of police, and his elder brother, Harnish Savani (AKA Montu) pressured him to compensate them for losses they incurred after investing in bitcoin. In a suicide note, Patel explained that he had invested money belonging to the two brothers in bitcoin. Allegedly the senior police officer had invested an amount worth

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Embarrassed Wankers Cough Up $1 Million in Bitcoin to Sextortinists

By CCN: Long ago the fear of going blind was drummed in people to prevent self-pleasure. Now the biggest fear seems to not being able to look your co-workers, friends and relatives straight in the eye if a compromising video of you lands in their hands. Scammers have realized this and are extorting bitcoin from victims and making a fortune out of it. According to an investigation conducted by cybersecurity firm Area 1, sextortionists have so far made $949,000. Initially reported by Fortune, the report claims that the average payout by victims of sextortion is 0.073 bitcoin (about $585). This

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Baltimore Ransomware Siege Enters Second Week of Bitcoin Extortion Attack

By CCN: Most of the Baltimore City’s government systems have been locked down since May 7th as a result of the “Robbinhood” ransomware attack. The successful crypto locking has forced the city to go “manual” in most aspects of its daily business and has affected several areas of life. For example, people are unable to buy and sell real estate within the city right now because the records cannot be accessed or filed. Baltimore Refuses to Negotiate with Hackers Incoming mayor Mayor Bernard “Jack” Young, who replaces disgraced Catherine Pugh, insists the city will not pay the roughly 13 bitcoins

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RIP: Bitcoin Exchange Cryptopia Begins Liquidation After $15 Million Hacking

By CCN: It may not have sounded the death knell immediately but the January hacking of New Zealand-based cryptocurrency exchange Cryptopia changed everything forever. Now the crypto exchange which lost NZD$ 23 million (approximately $15 million) in the security breach five months ago has appointed liquidators. Cryptopia Limited appoints Grant Thornton as Liquidators – https://t.co/A35rq1Jls3 — Cryptopia Exchange (@Cryptopia_NZ) May 15, 2019 In a statement, Cryptopia admitted that the hacking had a ‘severe impact on the company’s trade’. The exchange also disclosed that appointing liquidators came after efforts to cut costs and return to profitability proved unsuccessful. Beware: Cryptopia’s Liquidation

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Australia’s Cancer Faker Used Defrauded Funds to Secretly Trade Cryptocurrency

By CCN: An Australian woman who faked cancer and duped people into buying her products, Belle Gibson, may have used the proceeds of her fraudulent scheme to trade crypto among other assets. This emerged after she appeared in court over her failure to pay a $285,000 (AUD$410,000) fine, per The Guardian. The fine was imposed two years ago after Gibson was found guilty of breaching consumer law with her fake cancer claims. Though the amounts that she used to trade cryptocurrencies were not revealed, an attorney for Australia’s consumer watchdog Consumer Affairs indicated that the cancer con artist’s financial statements

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