Crypto Scams Continue Apace


Cryptocurrency publications are noting that “exit scams” are continuing to cost investors significant coin.

The linked website (below) notes a fintech analysis that these frauds have stolen over $96 million, with about $67 million taken in the past 2 weeks.

These thieves appear to be based in China and local Reddit users have published photos of empty offices of these putative blockchain companies.

One way to spot a cheat is to check profile photos of the executives, many of which are copied from other sites as well as copied white papers.

One of these scammers was purportedly to build a scam eliminator.

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at:
This entry was posted in accredited investor, balance, Banking, CFTC, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, fraud, Funding Portals, Investments, Jobs, penalty, review, SEC, Small Business, technology, VC, Venture Capital, Wall Street and tagged , , , , , , , , , , , , , , , , . Bookmark the permalink.

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