The CEO of the popular cryptocurrency scam named OneCoin is in the latest cryptocurrency news again. As the titles show, the OneCoin scam boss Konstantin Ignatov will have to undergo trial while he is still in custody.
The news were made official after the New York Southern District Court and its Judge Edgardo Ramos denied a bond application that was filed by Ignatov – despite him being the top leader of the cryptocurrency scam. The OneCoin scam boss has proposed attractive release conditions (as reported by Finance Feeds) but is now accused of conspiracy to commit wire fraud – a crime which could see him serve the maximum of 20 years in jail.
The best cryptocurrency news sites showed that Ignatov’s defense team had proposed a $20 million personal recognizance bond. Ignatov also agreed to wear GPS tags as well as foot the bill to hire a round-the-clock armed bodyguard service who would ensure that he doesn’t flee.
The access to the OneCoin scam boss’ residence is also only allowed to those with pre-authorized permission. On top of this, Ignatov agreed to avoid using computers or cellphones other than for taking notes and reviewing discovery.
Judge Edgardo Ramos did not fall for Konstantin Ignatov's desperate request to get out of prison until his trial.
Confirmation that Ignatov's Bail request (Bond application) was denied on Friday 28 June 2019#OneCoin #scam #KonstantinIgnatov pic.twitter.com/ZEEjmyQBAf
— OneCoinInsider (@OneCoinInsider) June 29, 2019
The altcoin news, however, show that the OneCoin scam is still operating. At the time of Ignatov’s arrest in March in California, he was scheduled to attend OneCoin events in the US.
“He simply cannot be trusted to comply with any conditions set by the Court, having already lied to U.S. border agents, investigating case agents, and even the very Pretrial Services Officers tasked with evaluating appropriate bail in this case,” government officials noted.
The US authorities also noted that the OneCoin scam founder and the sister of Konstantin Ignatov, Ruja Ignatova, had disappeared after charges were filed against her. Right now, a lot of sites report that the OneCoin boss could flee to some of the countries with no US extradition treaty which are actually many.
In such case, he would not be in danger of being apprehended and flown back to the US. One of them could be Samoa, as well as his native Bulgaria or the neighbouring countries of Serbia and North Macedonia.
Bitcoin Reaches The Second Inning As Bakkt Launch Nears
“Bakkt’s launch is expected late in the current quarter.” “Bakkt could be a huge catalyst for institutional participation in the crypto market.”Bakkt hosted a summit this week at the NYSE and the company behind it-ICE stated that the things are looking quite bullish for the bitcoin cryptocurrency in the latter part of the year. According to the Fundstrat note, there is a robust turnout at the conference of more than 100 investors. The Commodity Futures Trading Commission which is the most important agency in the launch of Bakkt’s bitcoin futures contracts also had representation. Fundstrat’s reports show that the CFTC is seeing massive growth in demand and interest for Bitcoin futures from the Public. The bitcoin futures contracts by the CME and CBOE are still considered as the mark of the beginning of the crypto bull market. This is why bitcoin reaches the second inning since soon it will be clear whether the history will repeat itself again. As the latest cryptocurrency news report, Ari Paul, the CIO of BlockTowerCapital participates in the Bakkt event and he is helping with the new addition of users into space. The report also shows that Paul believes that retail adoption will be massive once the app and UI make crypto on-ramps safe and easy to use as PayPal.
Australian Couple Loses $900,000 In A Crypto Scam
“That was the whole of our superannuation – that’s now gone.”They didn’t explain how the scheme actually worked but Taylor commented that it was during a crypto trading scam website that promised high returns. He added that they decided to invest because the site ‘’looked legitimate.’’ The couple decided during a trip around the country to invest in the scam. They stated that the money basically disappeared and left the couple and many other Australians in the bankruptcy. Taylor told 7News that he had to go back to work and sell his old 1965 Pontiac in order to make the ends meet. This is not an isolated case according to the reports. On the contrary to what people think, crypto scams have increased massively since 2017 according to the reports issued by the Australian Competition and Consumer Commission since 2018 that the losses generated by the crypto scams reached about $6.11 million which shows a massive 190 percent increase over 2017. With the new addition of the $990,000 already gone, 2019 sets a new trend for crypto scams and the Australian Securities and Investments Commission is aware of this happening. There is a 32 percent increase in fraud since 2018 with more than 2,400 reported cases. The Australian watchdog announced the new corporate action plan for 2018 that the crypto sectors and ICOs are the number one priority. If the new policies become a success the country will be able to reduce the crypto scam phenomenon. One strategy that showed to be successful among the scammers is to usurp the identity of celebrities to deceive users. The most popular case was the one of High Jackman which guaranteed returns of more than 10,000 percent. The cryptocurrencies have characteristics that could complicate the protection of users in times of fraud mainly because the transactions are irreversible which makes it impossible for any entity to return funds to a scam victim. Also, the network is decentralized and removes the control from the bank but also there is a high level of anonymity which makes it difficult to know who owns a particular wallet as noted in the altcoin news reports.
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