cryptocurrency fraud News

Cryptocurrency Crime Declines But ‘DeFi’ Fraud Soars: CipherTrace

Losses from cryptocurrency theft, hacks and fraud fell sharply in the first four months of the year, but crime in the booming “decentralized finance” space hit an all-time high, a report from crypto intelligence company CipherTrace showed on Thursday. DeFi …

Cryptocurrency Firm Quadriga Collapsed Due to Late Founder’s Ponzi Scheme: Regulator

Last year’s collapse of Canadian cryptocurrency trading platform QuadrigaCX was due to a Ponzi scheme operated by founder Gerald Cotten, who died suddenly in December 2018, the country’s biggest securities regulator said on Thursday. Cotten died at age 30 from …

Investigation Uncovers Mystery of Quadriga’s Missing Cryptocurrencies Worth Millions

It’s looking more and more like QuadrigaCX founder Gerald Cotten mismanaged the digital-asset exchange before he died, with cryptocurrencies from clients ending up at rival marketplaces in his personal accounts. The latest report from Ernst & Young, which is overseeing …

Federal Judge Rules Cryptocurrency Falls Under Securities Law

U.S. securities law can be used to prosecute fraud cases over cryptocurrency offerings, a New York federal judge ruled on Tuesday in what appeared to be the first court decision to address the issue. The ruling from U.S. District Judge …