India’s Enforcement Directorate (ED) has conducted searches that uncovered a Ponzi scheme involving cryptocurrency operations and HR Crypto Coin, leading to significant asset seizures and freezing. The coins were part of the scheme, luring people to invest with promises of a 15% annual interest rate and offering 30% direct referral income for introducing new customers. […]
New York Attorney General Letitia James has sued Novatechfx, AWS Mining, and their founders for orchestrating crypto pyramid schemes that defrauded over 11,000 New Yorkers out of more than a billion dollars in cryptocurrency. These companies targeted vulnerable immigrant communities, particularly Haitians, with false promises of high returns. NYAG Letitia James Takes Action Against Crypto […]
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Venezuela seizes over 11,000 bitcoin miners to save energy, Paraguay cracks down on illegal bitcoin mining, and Brazil aims to finalize crypto regulations this year. Venezuelan Authorities Announce Bitcoin Mining Ban, Confiscate Over […]
Paraguayan authorities have intensified their efforts to fight illegal bitcoin mining, using innovative techniques including artificial intelligence (AI) and its distribution systems to detect these activities. In less than a week, two new illegal bitcoin mining operations have been closed with over 550 miners seized, causing undetermined damages to the National Power Administration (ANDE). Paraguay […]
The Indian government has directed the Ministry of Electronics and Information Technology to bar access to offshore cryptocurrency exchanges deemed illegal within the country. The nine affected crypto platforms include Binance, Kucoin, Huobi, Kraken, and Bitfinex. The Ministry of Finance also revealed that 31 crypto service providers have registered with the country’s Financial Intelligence Unit […]