US Government Seizes 127,195 Bitcoin Linked To Chen Zhi Scam – Now Holds Over...

The United States Department of Justice (DOJ) says it has seized cryptocurrencies worth $24 million after receiving an official request from the government of Brazil. The seizure stems from an ongoing investigation into the $200 million cryptocurrency scam that may have defrauded tens of thousands of Brazilians. The authorities in Brazil say the scammers duped people by typically promising exaggerated returns and falsifying where the funds were invested. Criminal violations In a statement, the DOJ says the U.S. acceded to Brazil’s request in line with the cooperation treaty signed....

The Binance founder has also detailed some personal and business-related challenges he had to overcome from the Chinese government, even before the launch of Binance in 2017. Binance CEO Changpeng Zhao (CZ) has hit back at critics and conspiracy theorists who claim Binance to be a Chinese-based “criminal entity” that “secretly [belongs] in the pocket of the Chinese government.”CZ's response to critics came from a Sept. 1 blog post via Binance, and stems from a Twitter spat with a former Washington Post journalist who asked him; “While I have you here, who's Guangying Chen?” He explained....

MyCoin is currently under investigation for running a Ponzi bitcoin scam, and two of its organizers were recently arrested in Taiwan. According to Taipei's Criminal Investigation Bureau, individuals Lu Kuan-wei and Chen Yun-fei were apprehended since they have held a few events for MyCoin. "Chen and Lu held several events for investors convincing each one to spend NT$1.62 million (US$49,600) for 90 BTC and an account with MyCoin's parent company, which would distribute 0.63 of a bitcoin every day for a total value of NT$11,000 (US$337). The investors were told that their investment would....

A senior student at Shanghai’s Tongji University fell victim to an NFT scam, losing around $548,000 after his non-fungible token was stolen through a phishing scam. The NFT artwork which Niq Chen bought from the well-known Doodles Collectible NFT project entitled “LuckyCot 3D,” made up roughly half the value of his entire NFT assets, he […]

Authorities in Taiwan have reportedly arrested two individuals in connection with MyCoin, an alleged Ponzi scheme targeting bitcoin users. News service China Times reports that Taipei's Criminal Investigation Bureau announced on 20th August that Lu Kuan-wei and Chen Yun-fei were apprehended and charged with their involvement in the scam. Lu and Chen reportedly held a number of MyCoin-related events. The scam resulted in millions of dollars in losses in various Asian countries. Victims were duped into investing in the bitcoin investment platform, which promised outsized returns. The China....