Crypto Schemes | FinTelegram News

Category: Crypto Schemes

Crypto Schemes

July 29, 2022

Next In Line! Crypto Exchange Zipmex Filed For Bankruptcy Protection!

FinTelegram recently reported that Zipmex froze client withdrawals amid the expanding crypto crises following the collapse of Terra/Luna, Three Arrows Capital (3AC), Celsius Network, and Voyager Digital. Singapore-based Zipmex said it had filed five applicationsa under Section 64 of Singapore’s Insolvency, Restructuring and Dissolution Act 2018 for Zipmex Group companies. The crypto exchange ran into troubles with its exposure to crypto lender Babel Finance, which froze withdrawals in mid-June.

July 28, 2022

Sanctioned Russian-Estonian Garantex Still Heavily Engaged in Russia Without License!

In March 2022, the Russian-controlled Estonian Garantex Europe OÜ had to surrender its crypto license. According to FIU findings, this crypto payment provider processed more than €5 billion annually, primarily for merchants from Russia and other high-risk countries. In April 2022, the U.S. Department of Treasury sanctioned Garantex for ransomware activities for Russian gangs and added it to the OFAC's SDN list. However, in our 28 July 2022 review, the crypto exchange worked "normally" and still does most of its business in Russia and Belarus.

Crypto Schemes

July 27, 2022

Interesting! Nasdaq-Listed Binance Affiliate EQONEX And Its ‘Pennystock’ Troubles!

In March 2022, the Nasdaq-listed crypto exchange operator EQONEX Limited entered into a strategic partnership with the world's leading crypto exchange operator Binance and became a related company controlled by Binance people. Amid the crypto winter and collapsing share prices, EQONEX became a notice from Nasdaq. On 26 July 2022, the company announced that it Nasdaq informed them that their share price is not in compliance with the Nasdaq Rules.

July 25, 2022

U.S. Court Convicted Operator Of Crypto Fraud Scheme ‘My Big Coin’

In the U.S., a federal jury convicted the New York resident Randall Crater, 51, last week concerning the My Big Coin crypto scheme to defraud investors. According to court documents and evidence presented at trial, he founded My Big Coin Pay Inc. d/b/a My Big Coin, a purported crypto and virtual payment services company, and offered virtual payment services through the My Big Coins cryptocurrency. The scheme falsely claimed that these coins were backed by $300 million in gold, oil, and other valuable assets.

July 25, 2022

Fucked Clients – The Courtroom & Social Media Battler Around Collapsed Crypto Scheme Voyager!

On July 5, 2022, Voyager filed a proposed stand-alone Plan of Reorganization under Chapter 11 of the US Bankruptcy Code to reorganize the company and return to customers all of their funds. The day after the Voyager filing, one of Voyager’s competitors and largest stakeholders, Alameda Ventures Ltd. and FTX Trading Ltd (AlamedaFTX), controlled by Sam Bankman-Fried, issued a press release that allegedly openly disparaged Voyager with highly misleading statements. Voyager rejected the deal and thus triggered a courtroom and social media battle.

July 22, 2022

Former Coinbase Product Manager Arrested On Charges Of Insider Trading!

The United States Attorney for the Southern District of New York announced the unsealing of an Indictment charging the former Coinbase product manager Ishan Wahi, Nikhil Wahi, and Sameer Ramani with insider trading in crypto assets by using confidential Coinbase information about which crypto assets were scheduled to be listed on Coinbase. While Ishan Wahi and Nikhil Wahi were arrested on Thursday, Sameer Ramani remains at large.

July 16, 2022

Struggling Crypto Exchange CoinFLEX Allows Partial Withdrawals!

CoinFLEX froze withdrawals three weeks ago due to an alleged loss with its client, the so-called Bitcoin Jesus Roger Ver. The crypto exchange announced that it had launched legal proceedings in Hong Kong to reclaim its $84 million from the Bitcoin Jesus. FinTelegram reported here. The Crypto Winter and its aftermath, along with the Roger Ver case, have apparently led CoinFLEX into a severe liquidity crisis, and it is unclear if or when this can be resolved. However, the crypto exchange announced that it is partially reopening user withdrawals. Stay very cautious!

July 14, 2022

The Celsius Bankruptcy, Crypto Lending, And Regulatory Scrutiny!

The collapse of the crypto lenders Celsius Network and Voyager Digital and crypto hedge fund 3AC is alarming regulators worldwide. Recently, more and more regulators have announced investigations and actions. The California DFPI announced that it is investigating crypto lenders. The regulator warns consumers and investors that crypto lenders may not have adequately disclosed the risks customers face when they deposit crypto assets onto these platforms.

July 13, 2022

Crypto Lender Celsius Network Allegedly ‘Deeply Insolvent’!

The collapsed crypto lender Celsius Network “is deeply insolvent,” alleged the U.S. state of Vermont’s Department of Financial Regulation (DFR), noting that the lender lacks the assets and liquidity to honor its obligations to account holders and other creditors. DFR has joined a “multistate investigation” into the troubled crypto lender and issued a warning. Besides Three Arrows Capital (3AC) and Voyager Digital, Celsius is one of the big crypto schemes that imploded in the Crypto Winter environment.

July 8, 2022

Confirmed! Blockchain.com May Lose $270 Million in Three Arrow Capital Debacle! Stay Away!

FinTelegram has been warning about the Blockchain.com crypto exchange for some time. The company delays payouts and seems to be under financial stress. It was already known that Blockchain.com lost a lot of money in the collapse of the crypto hedge fund Three Arrows Capital (3AC). CoinDesk reports today on the true extent that is frightening. Blockchain.com apparently lost $250 million. We recommend again that all Blockchain.com customers immediately withdraw their funds or stop depositing new funds.

Crypto Schemes

July 7, 2022

Expected! Blockchain.com Clients Call For Criminal Investigations!

We continue to warn against the crypto exchange Blockchain.com. Co-founded by US citizen Peter Smith (@onemorepeter), the crypto exchange has apparently lost a lot of money recently. In early May 2022, the 18-billion Terra-Luna scheme exploded and triggered the collapse of the crypto hedge fund Three Arrows Capital (A3C) shortly after. Blockchain.com was also invested in #3AC and lost a lot of money in the process. Since then, complaints have been mounting on Trustpilot about payouts not being made. Clients start to call for lawsuits and criminal investigations.

July 7, 2022

The Crypto Winter Protocol – From Terra Via Three Arrows Capital To The Voyager Bankruptcy!

On July 6, 2022, crypto broker Voyager Digital filed for Chapter 11 Bankruptcy. With more than 3.5 million app users and over $5.9 billion in..

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.