19% of World Population Bought Crypto Before 2019: Kaspersky Report

A new survey by Moscow-based cybersecurity firm Kaspersky Lab introduced on June 17th revealed that 19% of people globally have purchased cryptocurrency.The survey, titled “The Kaspersky Cryptocurrency Report 2019,” was carried out in October and November 2018, with a total of 13,434 respondents in 22 countries.According to the report, 81% of global population have never…

US Blockchain Investor Terpin Awarded Over $75 Million in SIM Swapping Case

United States blockchain and crypto investor Michael Terpin has won $75.8 million in a civil case against 21-year-old Nicholas Truglia, who reportedly defrauded him of crypto assets. Reuters reported the news on May 10.Per the report, the California Superior Court last week ordered Manhattan resident Truglia to pay the amount above in compensatory and punitive…

Former Investor Sues OneCoin Scheme, Seeks Class Action

Former OneCoin investor Christine Grablis is suing the cryptocurrency investment scheme for fraud, according to a complaint filed on May 7.Grablis is seeking damages and a class action suit to represent other investors purportedly defrauded by OneCoin.The full list of defendants in this lawsuit — Grablis v. OneCoin Ltd. — includes OneCoin Ltd, Ruja Ignatova,…

India: Police Arrest Four More Suspects in Alleged $14 Million Crypto Scam

Law enforcement in Mumbai, India have arrested four more suspects allegedly involved in a cryptocurrency scam that amassed an estimated 1 billion rupees (over $14 million). English-language daily media outlet The Times of India reported on the arrests on March 22.Per the report, the police arrested Ashok Goyal Jaipuria, Asif Malpani, Baljit Singh Saini and Pradeep Arora…

Crypto Firm Accused of Fraud, Duping Investor Into Buying $2 Million in Tokens

A lawsuit recently filed in a United States district court in New York claims that an investor was misled into investing $2 million dollars in the cryptocurrency MCash, a Feb. 1 court filing states.The filing alleges that the plaintiff Lijun Sun transferred $2 million to New-York based investment group Blue Ocean Capital Group, Inc. to…

Thailand’s Revenue Departments Tests Blockchain for Tracking Value-Added Tax Payments

Thailand’s Revenue Department is testing blockchain to track value-added tax (VAT) payments, English-language media outlet Bangkok Post (BP) reports Dec. 3.Ekniti Nitithanprapas, director general of the Thai Revenue Department, said that the department “wants to use blockchain technology to prevent VAT refund fraud.” According to the BP, the nation is “on the path to becoming…

Japan: Tokyo Police Arrest 8 Men Allegedly Involved in $68 Million Crypto Pyramid Scheme

Tokyo police have arrested eight men that are suspected of collecting a total amount of $68.4 million in cash and cryptocurrency using a pyramid scheme, Japanese daily newspaper Asahi Shimbun reports Wednesday, Nov. 14.The suspects claimed to run a U.S. investment company dubbed “Sener,” conducting seminars with foreign speakers. The police report that at least…

Bitcoin Hedge Fund and CEO Slapped With $2.5 Million Penalty for Ponzi Scheme

A New York federal court has ordered cryptocurrency hedge fund Gelfman Blueprint, Inc. (GBI) and its CEO Nicholas Gelfman to pay over $2.5 million for operating a fraudulent Ponzi scheme, according to an official announcement published Oct. 18.GBI is a New York-based corporation and denominated Bitcoin (BTC) hedge fund incorporated in 2014. As stated on…

New Rules: US Regulators Extend Their Purview Within Crypto Industry

This week, on the same day, two United States regulating bodies — the Financial Industry Regulatory Authority (FINRA) and its ruling organization the Securities and Exchange Commission (SEC) — reported filing objections against non-compliant crypto players who made some false statements regarding their businesses.While the SEC barely needs any introduction for those who follow the…