Říj 06

Bitcoin Fraudsters Set to be Deported from Philippines

Two Asian nationals are set to be deported from the Philippines to their respective countries. Their respective countries want the two individuals accused of economic crimes which include Bitcoin fraud.


PH Government Ridding the Country of Bitcoin Con Artists

According to the Manila Bulletin, the Philippines Bureau of Immigration (BI) plans to deport a Chinese and a South Korean national. Their governments want both men for their participation in illicit financial activities.

Commenting on the deportation order, Jamie Morente, the BI Commissioner, said:

We reiterate our warning to all foreign criminals who are hiding in the country that the long arm of the law will eventually catch you and we will send you back to your homelands.

The South Korean national, Go Yongsung was arrested on suspicion of his involvement in large-scale fraudulent activities. According to South Korean officials, between December 2015 and June 2016, Go used a Ponzi scheme to steal $33 million from unsuspecting investors.

Go, allegedly worked with five other co-conspirators to deceive people into investing in fake Bitcoin (BTC) 00 schemes. His arrest occurred in late September at his residence in Las Piñas City.

The other deportee, Lian Lilong, is a 36-year-old Chinese native accused of economic crimes. Lian, along with four other Chinese nationals stands accused of financial crimes. The Philippine National Police (PNP) arrested Lian on October 1 in the capital, Manila. Lian’s cohorts are still at large, but the PNP says there is already a standing deportation order on them.

Manila at night.

The Scourge of Bitcoin and Cryptocurrency Scams

The Philippines, like other countries in Southeast Asia, has seen an increase in the occurrence of Bitcoin scams. With cryptocurrency becoming increasingly popular, con artists looking to defraud are people conjure elaborate scams to steal from unsuspecting people.

The exact nature of the scams isn’t always known, with Bitcoin and other cryptocurrencies being used as the conduit for false investment claims. Earlier in the year, the PNP arrested a couple who ran an elaborate Bitcoin Ponzi scheme that siphoned more than $17 million from victims.

Elsewhere, Indian authorities recently arrested a couple of high-profile Bitcoin scammers, the latest in a series of arrests related to cryptocurrency crimes following a similar arrest of Divyesh Darji, a Bitconnect kingpin. State officials in many countries continue to warn investors to be wary of cryptocurrency scams.

What do you think about the spate of cryptocurrency scams in many countries around the world? Let us know your thoughts in the comment section below.


Images courtesy of Shutterstock.

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Srp 11

Bitcoin Scammers Extort Bachelors With Blackmail — Over Non-Existent Wives

Residents of Washington D.C.’s upscale Chevy Chase neighborhood have been targeted by Bitcoin scammers claiming theyre poised to reveal “dark secrets” to the target’s wives. Despite the claims, there’s just one problem.


Most of the Chevy Chase neighborhood’s well-off residents would shudder at blackmail threats like this. but there’s just one problem. According to the Washington Post, targets of the D.C.-based blackmail campaign have revealed that they aren’t even married.

Bachelor Party

The targets of the latest Bitcoin 00 scam were able to avoid a poorly-crafted attempt at extortion. It seems bachelor status was their saving grace, as the scammers fell-flat of their goals. These eligible Chevy Chase residents remained keen enough to spot the scam. Others may not have been so lucky, and this is due in part to the large magnitude of targets the scammers hone in on, according to the Washington Post:

FBI Washington Field Office spokesman Andrew Ames says these scammers tend to flood high-income neighborhoods, trying to fool at least one person.

Most of the Chevy Chase neighborhood's well-off residents would shudder at blackmail threats like this. but there's just one problem.

Not the First, Not the Last

Reports show that the scamers targeted their victims through the postal service. One target, Jeffery Strohl,

[…] says he received a Nashville-postmarked letter from “GreySquare15” demanding a Bitcoin “confidentiality fee” worth $15,750. After his initial shock, he figured it was a scam. He posted about it on a community listserv to find he was far from the only Chevy Chase resident to receive such letters.

Lucky for guys-without-wives like Stohl, the scammer’s tactics came up short. Still, it is worth considering how those who are in wedlock may deal with the same kind of ransom attack.

Scams like this are plentiful. As Bitcoinist reported on Friday morning, the PGA Championship recently fell victim to a bitcoin ransomware attack linked to promotional material for the Tour.

From a wider perspective, these scamming attempts don’t just target sporting bodies and wealthy Washingtonians. They also prey on healthcare organizations like hospitals, as Bitcoinist reported last January.

While seemingly nobody is completely safe from this variety of attack, the unmarried residents of Chevy Chase can rest easy for another night.

What are your thoughts on wising up to potential scammers? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock

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Led 09

Cryptsy Has Moved Out of Their Building Unannounced, Nowhere to be Found

Source: bitcoin

Cryptsy scam

Bitcoinist has received exclusive news regarding Cryptsy that is related to the issues surrounding the cryptocurrency exchange as of late. According to a confirmed source, who wishes to remain anonymous, the company has moved out of the building that housed its headquarters. This move was unannounced, and was discovered accidentally when our source went to the building to visit the team. 

Also read: 2016 and Bitcoin: What Changes Will Come?

Cryptsy’s Mysterious Disappearance

This news comes in the midst of Cryptsy customers experiencing difficulty withdrawing funds in recent days, with customers taking to social media to express their frustration. Additionally, around three days ago, the exchange halted its trading engine, and activity did not resume until the next day. These troubles prompted coverage from the Bitcoin media, and speculation from the community. Several threads popped up on the bitcoin subreddit concerning the withdrawal difficulties going on at Cryptsy, with people accusing the exchange of stealing their money. One post in particular went as far as to suggest a “collaborative lawsuit” against Cryptsy in hopes of retrieving lost funds:

Now, if Cryptsy is really going down, I think we’d better take action before it is too late. . .I have lost money to GAW miners and Hashprofit, so I hope we can get together and take a positive action towards Cryptsy, before it is too late.

Now, our anonymous source has informed us that Cryptsy has moved out of its building, without leaving any clue of where they might be. Our source went to the building yesterday to visit Vern, the Founder of Cryptsy. Upon arriving, he found the building to be empty, with no Cryptsy team members in sight. Our source contacted the building manager about the disappearance, and he informed our source that the company moved out a couple weeks ago. The building manager did not have any further information regarding Cryptsy’s whereabouts after the move.

Presently, there is no evidence to suggest that this unannounced move is connected to the withdrawal difficulties experienced by Cryptsy customers in recent days. Customers have been reporting difficulties withdrawing from the exchange for at least 25 days, but the major speculation on the state of Cryptsy did not begin until the company halted trading three days ago.

The following pictures show the building that used to house the Cryptsy headquarters, which is now empty. These pictures were sent to us by our source.

Bitcoinist will continue to investigate the situation and will provide updates as they become available.

What do you think about Cryptsy’s unannounced move? Let us know in the comments below!

The post Cryptsy Has Moved Out of Their Building Unannounced, Nowhere to be Found appeared first on Bitcoinist.net.

Cryptsy Has Moved Out of Their Building Unannounced, Nowhere to be Found

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