Digital justice shall be served. A US man was found guilty of running a fraudulent Ponzi scheme involving Litecoin. The upshot is $1.1 million fine and 15 months in prison.
Joseph Kim of Phoenix, Arizona has received a stringent fine to the tune of $1.1 million and sentenced to 15 months incarceration after he was found out to be running a Ponzi scheme involving Litecoin and Bitcoin. The US Commodity Futures Trading Commission has acted swiftly, publishing the report on November 9.
Mr. Kim was found guilty of defrauding his employer, a Chicago-based trading company, which the guilty party led to believe was investing via cryptocurrencies when, in fact, the company was [...]
It’s understandable that people would want to invest quite heftily in cryptocurrencies. Sometimes, though, it is rather ill-advised. Take for example all those home-owners who are only half so after they have decided to mortgage their properties in the hopes of crypto riches.
Not surprisingly scammers will come rushing in trying to wheedle money out of gullible souls. But most of those scams are badly cobbled together and you can see through those quite readily. Let’s see what the most common ones are:Stealing your private key through phishing; Offering illegitimate service; Running Ponzi schemes and similar;
Phishing Through E-mails
So what are these? [...]
Bitcoin’s recent performance has been heady. There have been the highs and there have been the excruciating lows. Yes, cryptocurrencies are not exactly known for their proclivity to behave and follow the laws of finances.
If anything, they quite clearly defy them. From the moment, the digital gold chunks made their appearance they proclaimed themselves stateless and beyond the reach of any regulator.
In the most recent news now, Bitcoin got a blow yesterday, 6 February, when the cryptocurrency got hit to under $6,100. Today, it seems to have buoyed up and reach $8,000.
But the rise of Bitcoin did not go unnoticed and soon other tokens started to perk up. Overall [...]
Here we will attempt to explain this 21st century phenomenon both by definition, origin and meaning. Most people today would have, at least, heard of the term cryptocurrency (or crypto currency). Much noise and press releases are overwhelming the general audience with speculative facts, observations and expectations, but cryptocurrencies such as Bitcoin and Ethereum are, it seems, here to stay. Hence, weather it is the widely talked about “Speculative bubble”, or indeed “the money of the future”, the entire blockchain system, stemming behind it – as announced at first in late 2008 by Satoshi Nakamoto, the unknown father of the cryptocurrency, as “A peer-to-peer electronic cash [...]