Chirag Tomar, a 31-year-old Indian Citizen, was sentenced today to 60 months in prison for his role in a cryptocurrency spoofing scheme that defrauded victims of more than $20 million. U.S. District Judge Kenneth D. Bell issued the sentence in Charlotte, North Carolina. Tomar’s scheme involved hundreds of victims worldwide,
Illicit transaction volumes are down around 15% in the year through to July. Total scam revenue is $1.6 billion so far in the year, 65% less than July 2021. The global crypto market witnessed a tremendous collapse so far this year. The market shrunk below $1 trillion, because of numerous
Forsage has collected $ 300 million from millions of investors around the world. The website already has allegations in the Philippines and Montana. The U.S Securities and Exchanges (SEC) has charged 11 people associated with the Forsage platform on 1 Aug 2022. As per the SEC report, Forsage is a
FBI has issued a public warning about fraudulent cryptocurrency apps. According to the FBI, $3.7 million was defrauded from 28 victims. The Federal Bureau of Investigation (FBI) has issued a public alert concerning fake cryptocurrency apps. According to the Securities and Intelligence Agency alert released on July 18, hackers have
ED has attached $140 million worth of assets to the Morris crypto scam case. Now the total assets attached to Morris’ cheating case are $507.2 million. The Morris coin cryptocurrency cheating case has an update from the Directorate of Enforcement (ED), around $140 million in assets were added to the
FTC reports show the increase in the crypto scam targeting the LGBTQ+ community. The govt. agency warns to be aware while contacting unknown sources via the internet The June pride month has also influenced the crypto scammers. According to the report submitted by the Federal Trade Commission (FTC) at the
