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Mirror Trading International (MTI), declared a pyramid scheme by the South African High Court, was a cryptocurrency trading platform promising automated trading services with significant returns. [1] MTI was masterminded by Johann Steynberg, who claimed to use an artificial intelligence bot for its trading activities. [2]
Scams and confidence tricks are difficult to classify, because they change often and often contain elements of more than one type. Throughout this list, the perpetrator of the confidence trick is called the "con artist" or simply "artist", and the intended victim is the "mark".
In August 2008, the CFTC set up a special task force to deal with growing foreign exchange fraud. [3] In January 2010, the CFTC proposed new rules limiting leverage to 10 to 1, based on "a number of improper practices" in the retail foreign exchange market, "among them solicitation fraud, a lack of transparency in the pricing and execution of transactions, unresponsiveness to customer ...
The federal government received over 70,000 complaints of cryptocurrency scams in 2023. One woman who was defrauded out of thousands from her retirement account tells Isaac Lozano how she got scammed
Contra-trading fraud is the further evolution of carousel fraud. The fraudsters evade government detection by using two carousels of traded goods where one carousel is legitimate and the other is not. [5] The contra-trader's output tax from one chain is designed to off-set the input tax incurred on the other chain.
The mystery behind these creepy 'Unknown' spam calls often begins with data breaches or information leaks. Scammers obtain partial information from various sources, including public records ...
t. e. Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information. [1] [failed verification][2][3] The setups are generally made to result in monetary gain for the deceivers, and generally ...
A pig butchering scam, a.k.a. " Sha Zhu Pan " [2] or Shazhupan, [3] (Chinese: ĉçŞç), translated as Killing Pig Plate, [1] is a type of long-term scam and investment fraud in which the victim is gradually lured into making increasing contributions, usually in the form of cryptocurrency, to a fraudulent cryptocurrency scheme. [4]