The U.S. Department of justice investigates cases of fraud involving cryptocurrency
Source:
According to Bloomberg, the U.S. Department of justice took over the investigation of fraudulent acts on the cryptocurrency markets. It investigates forms of illegal market manipulation on the main regulated financial markets. Primarily investigated cases of spoofing. There is evidence that the value of the assets is really manipulated.
thePossible fraud with bitcoin
A Study by Business Insider revealed that are widespread in the cryptocurrency markets. Of fraud to artificially increase the value of assets for profit. Was even interviewed one of the alleged ringleaders, who used the diagram «Pump and Dump». Then he admitted that in the past did participate in manipulation on the price of Bitcoin. Today, the size of the market is impressive for such action. This does not mean that the diagram «Pump and Dump» will not work with other cryptocurrencies.
theWhat «Pump and Dump»
A Group of crooks at the agreed time begin to buy some cryptocurrency, arguing anything expected to rise. Such information can be as reliable, and fabricated. The purpose of the Scam – the attraction of other investors to buy that currency. If we can attract enough investors who believe in the growth of the currency, its rate will indeed grow due to the influence of the attracted investors. This is called «.». «Dump» occurs when fraudsters start to sell the currency at a higher price. The rate falls and those who did not manage to sell it, lose money.
This scheme is prohibited on major financial markets, but practiced in the cryptocurrency markets. Obviously, the U.S. Department of justice will try from losses caused by fraud. According to Bloomberg, at the moment, the investigation is only at an early stage. It will affect Bitcoin, Ether and some other popular cryptocurrencies.
Recommended
the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...
Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam
co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...
The Ethereum is a cryptocurrency Scam. A new report Chainalysis
When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...
Related News
Looks like the party of those who earned the bitcoin millions
At 2 a.m. Zoe Bernard from Business Insider found himself at the doors of the club The Box in Manhattan. She went to a private party, where he was invited visitors of bitcoin. A lot of things that Zoe saw inside the club, asked he...
The Central banks of Norway and great Britain thought about the national cryptocurrency
last week, the Central Bank of Norway about plans to release a national cryptocurrency. The message of the regulator noted that the coin can be used together with cash, be the means of saving or substitute for Bank deposits. Now p...
The court banned the hacked exchange BitGrail to resume work
the Italian stock exchange BitGrail, one of the largest centers of trading cryptocurrencies Nano in February, lost $ 170 million due to a hacker attack. In the following months, the trading platform has tried to resume work. To do...
Cryptocurrency Bitcoin Gold hacked
Recently, the Bitcoin network with Gold was attacked double-spending. Cryptocurrency has become at least the third Aldona whose vulnerability was exploited by hackers. The first reports of the attack appeared on may 18, reports . ...
the head of the Central Bank of Spain has a positive attitude to the possibilities of blockchain technology. At the same time, he opposes the risks posed by the cryptocurrency. The position of the government the Bank announced at ...
Hackers took over most of the computing power in the Bitcoin network Gold
Recently, the Bitcoin network with Gold was attacked double-spending. Cryptocurrency has become at least the third Aldona whose vulnerability was exploited by hackers. The first reports of the attack appeared on may 18, reports . ...
"Bitmain playing dirty": what happens with ASIC-mining?
This story was told by one of the leading developers of Sia, cloud-based storage of the blockchain. A year ago, he and several members of the Sia team have created Obelisk, a company producing ASIC miners for mining cryptocurrency...
Bitcoin fell to $ 7400. Review investor
Today, the market continues its decline. Total capitalization is $ 325 billion, with the share of Bitcoin at 38.9 percent. The value of the main coins is 7407 dollar, which is 6 percent lower rate of days old. More prominently in ...
Criminals need bitcoins for the life of kidnapped victim
the Kidnappers of a 13-year-old boy in South Africa demanded a ransom the size of 15 bitcoins, which at current exchange rates is equivalent to 120000 dollars. As reported , the kidnapping occurred on may 20 in Witbank. the New re...
Study: majority of capturadora — young people without experience
Only 8.5 per cent of the cryptocurrency traders — women and 81.9% of traders cryptocurrency around the world no experience playing on the stock exchange. About it in the Etoro study, published in mid-may. The data confirmed analys...
Six reasons to invest in cryptocurrency in 2018
the main Price of the digital currency continues to decline. There are six reasons for investing in digital currency will be relevant in 2018. Shared them journalists . the regulation of the cryptocurrency will give the results In...
Why the increased value of transactions on the network Ethereum?
RA last week cost "gas" required for transactions in Ethereum network, has doubled. The cause of network problems was the growing popularity of the decentralized games. It is reported . the Decentralized gaming applications slow d...
The Pentagon will not test applicants for the presence of crypto-currencies
early In the week, investor and head of Foundstat, That's why Bitcoin has not grown during the crypto conference Consensus 2018. One of the reasons was the lack of certainty regarding the status of the digital money from regulator...
Fraud cryptocurrency is not the main problem States
Australian Commission on competition and consumer protection (ACCC) has released its annual report on fraud in the economic sphere of the country. As reported , lies with the bitcoin constitute less than one percent of the total n...
Ashton Kutcher donated $ 4 million in Ripple charitable Foundation Ellen DeGeneres
While the majority of investors is the pursuit of profit, other enthusiasts are using cryptocurrencies as a means to save the world. As reported , the American actor Ashton Kutcher has donated $ 4 million in cryptocurrency Ripple ...
How can the head of the investment firm compares Bitcoin and tulips
the Chief economist of the world's largest investment companies in the nines smashed cryptocurrency in the news column of the investment Fund ETF.com. Joe Davis, chief economist and Director of development Vanguard Investment Stra...
Banker Neil Kashari: Bitcoin because of Scam has become a farce
In mid-April, Nobel laureate in Economics Robert Shiller Bitcoin, calling it a bubble that will soon burst. However cryptocracy works "enough smart people" that it would continue to exist and develop, he added. President of the Fe...
The London mosque will begin to accept donations in bitcoin
Mosque Sequell lane, also known as Majeed Ramadan, announced the acceptance of donations in the cryptocurrency. Such a bold move to make Islamic Church the first religious organization taking the crypt, according to the portal . t...
Six undervalued cryptocurrency that can take off in 2018
the Rules of the game for the majority of investors and traders in Cryptoprotected simple and complex at the same time: to find a hidden treasure in the form of a project that will bring 10, 20 or 100 times the profit (or as they ...
Wit: Ukrainian police found at work mining farm and mined coins
In early April, the Ministry of interior with support of fighters of Regardie secret mining farm. The coins were produced in the Orenburg region on the territory of an abandoned factory. Found 6 thousand ASIC miners cost at least ...
Comments (0)
This article has no comment, be the first!