investment fraud

cryptocurrenc

2026-07-09 13:26:13

FBI Reports 45% Surge in Crypto Scams, $5.6 Billion Lost in 2023

FBI's IC3 recorded 69,468 crypto scam complaints in 2023, totaling $5.6 billion in losses—up 45% year-over-year, with investment scams accounting for 71% of the total.

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SEC enforceme

2026-07-09 04:32:15

SEC Charges $95.6M Bitcoin Mining Fraud: CEO Gambled $48.5M of Investor Funds

The SEC filed civil charges against Danh C. Vo, CEO of VBit Technologies, alleging a $95.6 million bitcoin mining investment fraud that misled 6,400 investors and misappropriated $48.5 million for gambling and personal gifts.

1800

SEC

2026-07-09 04:20:51

SEC Charges Bitcoin Mining Venture with $48.5M Fraud Based on False Capacity Claims

The SEC sued Danh C. Vo and VBit Technologies for allegedly defrauding 6,400 investors of $95.6 million through false bitcoin mining promises, misappropriating $48.5 million for gambling and gifts.

1750

cryptocurrenc

2026-07-08 14:30:12

FTC Warns Cryptocurrency Scams on Social Media Surged 18-Fold, Costing $770M in 2021

The U.S. Federal Trade Commission (FTC) reported that social media-fueled cryptocurrency scams caused over $770 million in losses from 95,000+ reports in 2021, accounting for 25% of all fraud losses.

320

SEC

2026-07-02 20:45:14

SEC Charges Bitcoin Miner Founder Danh C. Vo with $48.5 Million Investor Fraud

The U.S. Securities and Exchange Commission (SEC) has filed charges against Danh C. Vo, founder and CEO of bitcoin mining company VBit Technologies Corp., for defrauding investors out of $48.5 million. Vo raised over $95.6 million from approximately 6,400 investors between December 2018 and February 2022 through fraudulent hosting agreements. The SEC alleges Vo misused funds for gambling, cryptocurrency purchases, and gifts to family members, including $5 million transferred to relatives. Vo left the U.S. with remaining misappropriated funds after his divorce in November 2021. VBit was acquired and is now defunct. The SEC seeks disgorgement, civil penalties, and a ban on Vo from future securities offerings. The case comes amid Congressional debates on federal measures to combat crypto scams, including a proposed bipartisan task force.

460

bitcoin laund

2026-07-02 15:00:14

Chinese Woman Pleads Guilty in UK Bitcoin Laundering Case Involving 61,000 BTC Worth $6.7 Billion

A Chinese national, Qian Zhimin (also known as Zhang Yadi), pleaded guilty on the first day of her trial at Southwark Crown Court in London to possessing and transferring criminal property. The case stems from one of the largest cryptocurrency seizures ever: British police confiscated over 61,000 BTC, currently valued at approximately £5.1 billion ($6.7 billion). The funds are allegedly linked to a massive Chinese investment fraud that defrauded around 128,000 victims between 2014 and 2017. Qian fled China after her company collapsed following the 2017 crypto crackdown and attempted to launder proceeds through UK property purchases. The trial highlights the challenges of prosecuting cross-border crypto crimes, with no UK-China extradition treaty and Chinese police expected to testify.

490

Bitcoin

2026-07-02 14:45:14

Chinese Woman Pleads Guilty in UK Bitcoin Laundering Case Involving 61,000 BTC Worth Nearly $7 Billion

On the first day of her trial at Southwark Crown Court in London, 47-year-old Chinese national Qian Zhimin (also known as Zhang Yadi) pleaded guilty to possessing and transferring criminal property under the Proceeds of Crime Act 2002. The case stems from one of the largest cryptocurrency seizures ever, with British police confiscating over 61,000 BTC, currently valued at approximately £5.1 billion ($6.7 billion). The funds are allegedly linked to a massive Chinese investment fraud that defrauded about 128,000 victims between 2014 and 2017. Qian fled China after her company, Tianjin Lantian Gerui Electronic Technology Co., collapsed following China's 2017 crypto crackdown. She attempted to launder the proceeds in the UK through property purchases, aided by accomplice Jian Wen, who was previously jailed for facilitating the movement of 150 BTC. The trial, expected to last 12 weeks, will feature Chinese police officers testifying in person and victims testifying remotely from a court in Tianjin.

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