SEC Details Reasons For ICO ‘Suspensions,’ Warns About Pump-And-Dump

SEC Details Reasons For ICO ‘Suspensions,’ Warns About Pump-And-Dump

admin Bitcoin Regulations, bitcoin scams, Blockchain News, Blockchain Start-Ups, ICO's 0 Comments

The US Securities and Exchanges Commission (SEC) has issued a warning about ICOs and reasons it could “suspend” them in future. A circular from the regulator’s Office of Investor Education and Advocacy Monday focuses on “potential scams involving stock of companies claiming to be related to, or asserting they are engaging in” ICOs. In the bulletin, the SEC highlights three reasons it could “suspend trading” for “public interest” if an ICO provider is found to have fallen short of the law. These are: “A lack of current, accurate, or adequate information about the company – for example, when a company has not filed any periodic reports for an extended period; Questions about the accuracy of publicly available information, including in company press releases and reports, about the company’s current operational status and financial condition; or Questions about trading in the stock, including trading by insiders, potential market manipulation, and the ability to clear and settle transactions in the stock.” The update follows legislative clarifications from the SEC last month, in which it stated it would look at tokens on a case-by-case basis to establish whether or not each constitutes a security under its jurisdiction. In an explicit nod to some of the more volatile tokens which have entered …

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San Francisco Subway Is Free To Use After Ransomware Attack, Hackers Sought Bitcoins

admin bitcoin scams, Cyber Crime & Cyber Terrorism, Hacking, Ransomware, Ransomware 0 Comments

The holiday season is a time for shopping for gifts, spending time with family and for some, hacking into the San Francisco subway system. In fact, many, many computer systems in San Francisco were hacked this past weekend. So many, in fact, that the entire subway system has been left free to use until the computer problem is resolved. The answer will come in the form of Bitcoin, as this is what the culprits have demanded in return for putting the computer system back online. Over 2000 local computer systems affected A strain of a computer malware, known as HDDCryptor, hit 2,112 computers within the San Francisco Municipal Transportation Agency, according to correspondence with the ransomware’s masters. This has affected the railway system starting on Friday evening, continuing throughout Saturday, and as of Sunday night, there has been no news of a resolution. CBS affiliate KPIX in San Francisco, says sources inside of the city’s transit agency told them on Saturday that the system was hacked days ago. Payment kiosks are out of service and cards can not be purchased. “There’s no impact to the transit service, but we have opened the fare gates as a precaution to minimize customer …

Stupidity or Greed? Why Steal Bitcoin ATM?

admin Bitcoin ATMs, bitcoin scams, CoinGreed, Opinion 0 Comments

On November 3, two robbers stole a Lamassu Bitcoin ATM at the Village Smoke Shop in Atlanta, Georgia, according to local news website Clatl.com. According to Atlanta’s Police Detective Scott Bowers, the thieves got away with Bitcoin ATM (also called BTM) filled with about US$2,000 as it was recently emptied. What’s more is that one of the perpetrators fired a gun shot, though luckily no one was injured. It seems that the thieves wanted to get their hands on this machine in particular. Amanda McCollum, an employee in Midtown’s Village Smoke Shop, witnessed the crime. She saw that the suspects “walked in, went straight to [the Bitcoin ATM], took it and only it, and walked out.” However, stealing a Bitcoin ATM is not a good idea. While a Lamassu Bitcoin ATM itself is valued at US$7,000, the criminals would not be able to re-sell it because it is registered to the buyer with serial numbers linking them to the original owners. Moreover, no one except the owner will be able to get any bitcoins from the machines while most BTMs don’t hold a lot of cash inside as a rule. Nevertheless, one must be cautious when installing a small BTM …

Fool Me Once … Top 5 Bitcoin-Related Scams for 2015

admin Bitcoin 2.0, Bitcoin News, bitcoin scams, CoinGreed, Crypto News, Cyber Crime & Cyber Terrorism 0 Comments

CoinGreed.com is always keen to bring to readers’ attention anything suspicious in crypto-industry and beyond. We’ve been surprised by the sheer audacity of some rogue players still playing a major role in today’s market, so read on for our pick of the very worst. Don’t forget to leave your opinion beneath the article – debate helps pressure bad actors into explaining their actions and showing their true colors. OneCoin CoinTelegraph previously ran an expose about OneCoin, the global ponzi scheme seemingly able to fool everyone from the Economist to the hoards of trolls who took to our comments sectionfollowing publication of the article. Far from dying out, OneCoin continues to spread, despite the comprehensive list of discrepancies – some of which are even shocking in their carelessness – which are freely available for discovery in its own marketing material. Stunts such as calling a paid advertisement in Forbes Bulgaria as a genuine interview and mismatching information about the founders and their qualifications are complimented by bizarre charity spin-off websites and some of the most incomprehensible English usage imaginable. Add to that repeated claims of partnerships in which the “partners” deny any knowledge of OneCoin, and a user agreement seemingly copied …

Multi-Million Dollar ‘Grandmother Scam’ Using Bitcoin Ends in Miami

admin Bitcoin News, bitcoin scams, Cyber Crime & Cyber Terrorism, Negative Bitcoin Press 0 Comments

A Canadian man who devised an elaborate scheme to defraud elderly U.S. citizens while using monetary transmitters like Western Union and Bitcoin has been caught. Stephan Moskwyn is looking at up to thirty years in federal prison for money laundering and related crimes performed in Southern Florida. Scammed grandparents into thinking relatives were in financial trouble The basic premise was simple: Call the large elderly population in Florida from a Canadian call center and purport to be a grandchild or other relative in need of money, due to a legal issue or accident. The callers would have them send the funds in the form of pre-paid debit cards, or money orders via Western Union, which would later be cashed in foreign markets like Chile and the Dominican Republic. Then “virtual money orders” were converted to Bitcoin by Moskwyn. He had bought pre-paid debit cards in Miami-Dade and Broward counties to execute the scams, which is when he met with witnesses who were working for federal law enforcement, according to documents submitted to the court. Those who were scammed would even go the extra mile to help, sending more funds than requested multiple times, according to federal investigators. U.S. Attorney Wifredo …

The Bitcoin Scam Test – 10 Tools to Determine if a Bitcoin Business is Legit

admin bitcoin scams, Bitcoin Tools, Guides 0 Comments

In this post you will learn how to spot a Bitcoin scam, using free and simple tools. With so many new Bitcoin services showing up every second it’s sometimes hard to tell who’s legit and who is a scam. I have to admit that I can also get fooled by some of these sites since scammers have become pretty elaborate in their ways of hiding their true nature. However, using a specific toolset you can come to a fair assessment if a specific Bitcoin business is indeed a scam. This toolset is comprised out of different online tools which will help you learn about any Bitcoin site’s reputation throughout the web. Hopefully next time you encounter such a business you’ll use the process I’m about to explain and decide for yourself if the business is legit. I recommend you bookmark this page so you can refer to it later on when you encounter a business that needs to be put to “The Bitcoin Scam Test”. Tool #1 – Bittrust reviews Bittrust is a website that was formed in order for people to review other Bitcoin businesses. Using the search bar on the top it’s pretty easy to find many reviews about different …