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Ponzi scheme

08/22/2018 / By Ethan Huff

Cryptocurrency plunge continues as the late-2017 bubble takes them all down, including Bitcoin

The total value of all cryptocurrencies currently in circulation has fallen below $200 billion for the first time since November 2017, according to new reports. As the crypto bloodbath continues, investor forecasts are looking dimmer by the day, as a shocking 98 of the top 100 cryptos have reportedly lost value – some with no […]

02/05/2018 / By Ethan Huff

Before it collapsed, BitConnect hucksters thought they were the masters of the universe… hilarious video shows the insanity

Carlos Matos, the shameless scammer behind the infamous BitConnect Ponzi scheme, has become one of the internet’s latest and most hilarious “memes.” That’s because just months prior to the cryptocurrency exchange’s demise, Matos was seen on stage at a New York event screaming and wailing about how great BitConnect supposedly was, which has since earned […]

01/22/2018 / By Ethan Huff

BitConnect collapse reveals that cryptocurrency sites can really only succeed as long as they receive good press to build “confidence”

A major cryptocurrency exchange known as BitConnect has shut down its trading platform and reverted to just a storage wallet following recent crackdowns by state authorities for the alleged unauthorized sale of securities. In a recent blog post published to the company’s website, BitConnect also pointed to “bad press,” which it says eroded consumer confidence […]

10/10/2017 / By Ethan Huff

Bitcoin Ponzi scheme sued by the U.S. federal government after investors bilked of over $600K

The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against a New York-based company that it says was running an elaborate Ponzi scheme using the popular cryptocurrency Bitcoin as its primary asset. Reports indicate that Gelfman Bluepring, INC had fraudulently solicited over $600,000 from roughly 80 unsuspecting investors who were bilked into believing […]

09/11/2017 / By Ethan Huff

More signs of the imminent cryptocurrency “crash and burn” scenario: Paris Hilton and other celebrities now endorsing ICOs

Cryptocurrencies are a dime a dozen these days, as every Joe “tech” Schmoe seems to be either buying them or creating them. And you know the situation has gotten out of control when even Paris Hilton of “that’s hot” fame is hawking them on Instagram – her digital fiat of choice being a crypto-coin known […]

08/31/2017 / By Russel Davis

SEC crackdown on Bitcoin accelerates with de-listing of publicly-traded Bitcoin capital firm, accused of hyping the bubble

The U.S. Securities and Exchange Commission (SEC) recently issued a temporary freeze order on trading for the American Security Resources Corp. (ARSC), a publicly-listed bitcoin exchange company. This marks the third suspension in the month of August alone. SEC officials announced the suspension on August 24, Thursday. According to reports, the suspension will be effective until 11:59 am ET, September 8, 2017. […]

08/24/2017 / By Rhonda Johansson

The top three LIES that Bitcoin promoters tell themselves to “keep the faith” in their digital Ponzi scheme

When Bitcoin was first launched in 2008, many financial analysts claimed it heralded a new age of economic viability. Crypto-currency, as its name suggested, offered users an entirely digital and anonymous source of income. In the countries that accepted it, bitcoin could be used and traded like actual cash. One of the advantages of bitcoin […]

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