A Nigerian man has been sentenced by an FCT court for defrauding an American citizen of $115,000 in a fraudulent cryptocurrency deal. The accused deceived victims by providing access to a fake online dashboard that displayed fabricated account statements and false profits. In a separate case, a pastor has been charged in connection with a $6 million cryptocurrency fraud scheme that targeted church members. Additionally, the CEO of BIT Mining has been indicted for violations of the Foreign Corrupt Practices Act (FCPA), with the company agreeing to pay $10 million to settle related cases with the DOJ and SEC. Meanwhile, executives of IcomTech are set to pay over $5 million for their involvement in a fake Bitcoin trading scheme.
Meme coin rugs aren’t scams—they’re just the predictable outcome of people buying into hype without understanding what they’re getting into. Here’s the truth: if you buy a meme coin and sell it for a profit, you’re profiting off the liquidity provided by someone who bought after…
[COINTELEGRAPH] IcomTech execs set to pay over $5M for fake Bitcoin trading scheme
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