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She claimed they caused more than $1 billion of losses by misleading investors about the Gemini Earn program, which let customers lend crypto assets to Genesis in exchange for a high rate of return.
According to the latest available data from the FTC, more than 46,000 people in the U.S. reported losing an accumulative $1 billion to crypto scams between January 2021 and June 2022. In 2021 ...
A “rug pull” is a crypto scam where the founders of a cryptocurrency basically just disappear one day and take all their tokens – your money – with them. A well-publicized rug pull ...
An exit scam or rug pull is a confidence trick or fraud, perpetuated under the guise of a legitimate business, that ends when the originator absconds with the funds contributed by participants. [1] When a business entity pulls the rug and stops shipping orders while receiving payment for new orders, it could take some time before it is widely ...
Some in the crypto industry also viewed the attorney general's lawsuit as counterproductive and rushed, with Genesis arguing it would complicate bankruptcy proceedings. According to a person ...
Scammers and bad actors are always looking for ways to get personal info with malicious intent. Know how to recognize legitimate AOL websites, requests, and communications to keep your account secure.
Last week, the SEC issued a Wells Notice—a warning-shot letter that informs an individual or a company that the agency intends to file a lawsuit—against Unicoin, a U.S.-based crypto investment ...
Bitconnect was released in 2016 to allow users to lend the value of Bitconnect Coin in return for interest payments. The marquee program was the so-called lending platform where users traded Bitcoin for Bitconnect Coin and could lock in the instantaneous value of the coin for a set period of time while earning interest calculated daily.