BTC Fraudsters lured some innocent citizens of Abu Dhabi into investing in a trading platform that had the logo and the face of the Sheikh Mohamad bin Zayed who is the Crown Prince of Abu Dhabi and the Deputy Supreme Commander of the Armed Forces. Let’s get into it some more in the altcoin news below.
According to the UAE medium outlet-the National, the BTC fraudsters operated from Ukraine and Argentina and told the victims that the Crown Prince wants to help the people by making them rich by using the Bitcoin trading platform. The fraudsters even included a quote that the Prince never actually said, saying that this is his way of giving back to people. The Bitcoin trading platform which was actually fake, claims that the users could have made up to $13,000 in less than 24 hours. According to the website of the scam platform, people could earn these profits with the help of Bitcoin trading bots:
“The best part is that anyone can use it and make money – even if you have never traded before or if you are a seasoned professional.’’
Despite the marketing scam with the Crown Prince of Abu Dhabi, his name is nowhere to be found on the scam website. The creator of the fake automated trading platform was the only one mentioned. According to a Google search, Steve McKay is not even a real person but the scammers used a stock photo from Shutterstock in order to lure the victims into believing that he is the creator of the platform.
As noted in the latest cryptocurrency news, the National wrote that the precise number of the victims is still unknown since the scammers successfully scammed thousands who invested their personal details and money to the scammers. The post was also sponsored on Facebook and had more than 8,100 comments and 37,000 reactions. The fake story included a fake article saying that a person named Michael Alvarado made up to $7,080 with the trading platform in only two weeks. The scammers also used an image of the US-based freelance journalist Timothy Seppala who already confirmed that his photo was used without his permission.
BTC Extortionists Demand 560 BTC From Mexican Oil Giant Pemex
Co-Creator Of League Of Legends Lost $5 Million In Crypto Scam
California Bitcoin Bandit Is Facing 10 Years For Crypto Armed Robbery
“From October 2017 through February 2018, Fitzgerald stole money from five people by using online notices and communications advertising the sale of discount bitcoins, according to court testimony.. She met the victims in person and forcefully took the cash they had brought to purchase the cryptocurrency.”Although they were originally charged with numerous other offenses, the court allowed them both to enter a plea of no contest against a single count of second-degree robbery and then dropped two additional charges against the California Bitcoin Bandit Fitzgerald on two counts of grand theft as well as three counts of child abuse which relates to the time she brought a child along during some of the robberies.Hall is expected to receive up to four years for his involvement and Fitzgerald could earn up to 10 years in prison. Both sentences have been increased since the defendants also pleaded no contest to using a firearm during the robberies. As the situation proposes, Hall will be sentenced on December 17 and will receive four years and a fine of $30,000 in restitution while Fitzgerald will have to serve 10 years in prison and $85,000 in restitution payments.
Cryptocurrency Miner Steals $5M Worth Of Computing Power
"In the few months his scheme remained active, Ho consumed more than $5 million in unpaid cloud computing services with his mining operation and, for a brief period, was one of Amazon Web Services (AWS) largest consumers of data usage by volume. Some of the bills were paid by the California game developer’s financial staff before the fraud was detected."The investigators claim that Ho was able to use the social engineering knowledge in order to gain access to admin privileges and large amounts of cloud computing power on Amazon and Google servers - mining various cryptocurrencies such as Bitcoin (BTC) and Ether (ETH).Ho also managed to trick Amazon into believing that he was the president of Riot Games - and created a fake Californian driving license that carried the Riot Games and the co-chairman's name. Even though the Department of Justice charged Ho in early October, the identity of this developer became public only now.The cryptocurrency miner who stole the mining power is now charged with eight counts of wire fraud, four counts of access device fraud and two counts of aggravated identity theft.
OKEx Expands Product Offering With Tether-Margined BTC Futures
Bitcoin Difficulty Drops, Can The Miners Survive The Halving Event?
NEO And VeChain Pose Impressive Rallies The Past Week: Analysis
Zimbabwe Believes Bitcoin Is The Best Solution For Hyperinflation
FED Added $12.7 Million Bitcoin To Financial System As Bailout
Anonymous Donates $75 Million In BTC To Increase Online Anonymity
Bithumb Global Launched Native Coin For Its Custom Blockchain
Royal Bank Of Canada (RBC) Is Set To Open A Crypto Exchange
Crypto Exchange Execs From South Korea Jailed For Fraud
CFTC Chairman Urges America To Lead The Blockchain Race
China Declares Bitcoin As Property! Central Banks Prefer Crypto? SONY “Contactless” Hardware Wallet
JPMorgan Predicts A 60% Recession, Is Crypto The Best Chance Now? | [Bitcoin News // Crypto News]
Ethereum Sees Record Number of Shorts! NEM Blockchain Hub | Samsung Blockchain Supply Logistics
Crypto Jobs Up 300%! Lost BTC 20% Rate of Recovery | Only 45% of Exchanges Meet Security Standards
DC Forecasts Proudly Backed The Global Disruptive Blockchain Innovation Summit
Join us on Facebook
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
- Ethereum News7 days ago
Ethereum Istanbul Hard Fork Set To Launch On December 4: Official
- Ethereum News6 days ago
Ethereum Is Still Declining And Will Continue Lower In The Short-Term
- Litecoin News5 days ago
Litecoin Gains 2% On The Day, Analyst Outlook Is Bright
- Ethereum News5 days ago
Ethereum Co-Founder: “We May Interoperate With China’s CBDC”
- Ethereum News5 days ago
ETH Weekly Forecast Shows That There Is A Hold Of Uptrend Support
- Altcoin News7 days ago
Silvergate Crypto Bank Goes Public In Listing On NYSE
- Altcoin News7 days ago
Maker Accounts For Over Half Of The $650M Locked In DeFi
- Blockchain News3 days ago
Blockchain Spending China Will Surpass $2 Billion In Two Years