The idea of a yield-paying layer-2 blockchain atop Ethereum has clearly demonstrated market allure. But even the project’s biggest investor has taken issue with the execution and marketing surrounding the initial rollout.
Ronaldinho denies part in alleged $61M crypto scam at congressional hearing
The former pro soccer player said in a congressional hearing that his likeness was improperly used to market an allegedly fraudulent crypto scheme.
Forsage founders indicted over $340M DeFi ‘Ponzi scheme’
According to the Department of Justice, Forsage employed smart contracts which were coded in ways consistent with a Ponzi scheme.
$4B OneCoin scam co-founder pleads guilty, faces 60 years jail
The co-founder of the fraudulent scheme is set to be sentenced in April 2023 on charges relating to wire fraud and money laundering.
SEC charges 11 individuals over $300M crypto ‘pyramid scheme’
SEC has filed a lawsuit in the U.S. District Court against the founders and promoters of Forsage who allegedly fueled a $300 million “textbook pyramid and Ponzi scheme”
Self-Help Firm That Mostly Took Bitcoin as Payment Mostly Just Helped Itself, SEC Charges
Ninety-two percent of Mindset 24 investors allegedly lost some of their funds. They’d paid in over a million dollars – mostly in bitcoin.