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\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

One of Phillips bigger dumps was on April 20th 2021 after he tweeted \"Diamond hands ? always win!\". He sold off $33K <\/a>, $748K<\/a>, and $755K<\/a> worth of SafeMoon.<\/p>\n\n\n\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

On April 13th, 2021 Phillips tweeted \"Diamond hand phillips! ??? #RESPONSIBLEWHALESMATTER\" he then sold off another $10K<\/a>, $59K<\/a>, and $91K<\/a>. <\/p>\n\n\n\n

One of Phillips bigger dumps was on April 20th 2021 after he tweeted \"Diamond hands ? always win!\". He sold off $33K <\/a>, $748K<\/a>, and $755K<\/a> worth of SafeMoon.<\/p>\n\n\n\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

On April 6th 2021, Philips tweeted how he was so proud to be a part of the journey with his SafeMoon family after they reached 300k holders, and then proceeded to sell $7K<\/a>, $100K<\/a>, $113K<\/a>, and $156K<\/a> worth of SafeMoon. <\/p>\n\n\n\n

On April 13th, 2021 Phillips tweeted \"Diamond hand phillips! ??? #RESPONSIBLEWHALESMATTER\" he then sold off another $10K<\/a>, $59K<\/a>, and $91K<\/a>. <\/p>\n\n\n\n

One of Phillips bigger dumps was on April 20th 2021 after he tweeted \"Diamond hands ? always win!\". He sold off $33K <\/a>, $748K<\/a>, and $755K<\/a> worth of SafeMoon.<\/p>\n\n\n\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Pumps And The Dumps<\/h3>\n\n\n\n

On April 6th 2021, Philips tweeted how he was so proud to be a part of the journey with his SafeMoon family after they reached 300k holders, and then proceeded to sell $7K<\/a>, $100K<\/a>, $113K<\/a>, and $156K<\/a> worth of SafeMoon. <\/p>\n\n\n\n

On April 13th, 2021 Phillips tweeted \"Diamond hand phillips! ??? #RESPONSIBLEWHALESMATTER\" he then sold off another $10K<\/a>, $59K<\/a>, and $91K<\/a>. <\/p>\n\n\n\n

One of Phillips bigger dumps was on April 20th 2021 after he tweeted \"Diamond hands ? always win!\". He sold off $33K <\/a>, $748K<\/a>, and $755K<\/a> worth of SafeMoon.<\/p>\n\n\n\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\"\"
Source: Stephen Findseisen \/ Coffeezilla<\/figcaption><\/figure>\n\n\n\n

The Pumps And The Dumps<\/h3>\n\n\n\n

On April 6th 2021, Philips tweeted how he was so proud to be a part of the journey with his SafeMoon family after they reached 300k holders, and then proceeded to sell $7K<\/a>, $100K<\/a>, $113K<\/a>, and $156K<\/a> worth of SafeMoon. <\/p>\n\n\n\n

On April 13th, 2021 Phillips tweeted \"Diamond hand phillips! ??? #RESPONSIBLEWHALESMATTER\" he then sold off another $10K<\/a>, $59K<\/a>, and $91K<\/a>. <\/p>\n\n\n\n

One of Phillips bigger dumps was on April 20th 2021 after he tweeted \"Diamond hands ? always win!\". He sold off $33K <\/a>, $748K<\/a>, and $755K<\/a> worth of SafeMoon.<\/p>\n\n\n\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Findseisen carried out a detailed analysis<\/a> of the wallet and found many dates where he seemed to pump the coin via Twitter, and then go on to sell.<\/p>\n\n\n\n

\"\"
Source: Stephen Findseisen \/ Coffeezilla<\/figcaption><\/figure>\n\n\n\n

The Pumps And The Dumps<\/h3>\n\n\n\n

On April 6th 2021, Philips tweeted how he was so proud to be a part of the journey with his SafeMoon family after they reached 300k holders, and then proceeded to sell $7K<\/a>, $100K<\/a>, $113K<\/a>, and $156K<\/a> worth of SafeMoon. <\/p>\n\n\n\n

On April 13th, 2021 Phillips tweeted \"Diamond hand phillips! ??? #RESPONSIBLEWHALESMATTER\" he then sold off another $10K<\/a>, $59K<\/a>, and $91K<\/a>. <\/p>\n\n\n\n

One of Phillips bigger dumps was on April 20th 2021 after he tweeted \"Diamond hands ? always win!\". He sold off $33K <\/a>, $748K<\/a>, and $755K<\/a> worth of SafeMoon.<\/p>\n\n\n\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

After Phillips leaked<\/a> his own BSC wallet address<\/a> by asking his followers to buy him Starbucks, his ulterior motive started to show. With his address users are able to use a blockchain explorer to see all transactions linked to his specific wallet.<\/p>\n\n\n\n

Findseisen carried out a detailed analysis<\/a> of the wallet and found many dates where he seemed to pump the coin via Twitter, and then go on to sell.<\/p>\n\n\n\n

\"\"
Source: Stephen Findseisen \/ Coffeezilla<\/figcaption><\/figure>\n\n\n\n

The Pumps And The Dumps<\/h3>\n\n\n\n

On April 6th 2021, Philips tweeted how he was so proud to be a part of the journey with his SafeMoon family after they reached 300k holders, and then proceeded to sell $7K<\/a>, $100K<\/a>, $113K<\/a>, and $156K<\/a> worth of SafeMoon. <\/p>\n\n\n\n

On April 13th, 2021 Phillips tweeted \"Diamond hand phillips! ??? #RESPONSIBLEWHALESMATTER\" he then sold off another $10K<\/a>, $59K<\/a>, and $91K<\/a>. <\/p>\n\n\n\n

One of Phillips bigger dumps was on April 20th 2021 after he tweeted \"Diamond hands ? always win!\". He sold off $33K <\/a>, $748K<\/a>, and $755K<\/a> worth of SafeMoon.<\/p>\n\n\n\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Cover Is Blown<\/h2>\n\n\n\n

After Phillips leaked<\/a> his own BSC wallet address<\/a> by asking his followers to buy him Starbucks, his ulterior motive started to show. With his address users are able to use a blockchain explorer to see all transactions linked to his specific wallet.<\/p>\n\n\n\n

Findseisen carried out a detailed analysis<\/a> of the wallet and found many dates where he seemed to pump the coin via Twitter, and then go on to sell.<\/p>\n\n\n\n

\"\"
Source: Stephen Findseisen \/ Coffeezilla<\/figcaption><\/figure>\n\n\n\n

The Pumps And The Dumps<\/h3>\n\n\n\n

On April 6th 2021, Philips tweeted how he was so proud to be a part of the journey with his SafeMoon family after they reached 300k holders, and then proceeded to sell $7K<\/a>, $100K<\/a>, $113K<\/a>, and $156K<\/a> worth of SafeMoon. <\/p>\n\n\n\n

On April 13th, 2021 Phillips tweeted \"Diamond hand phillips! ??? #RESPONSIBLEWHALESMATTER\" he then sold off another $10K<\/a>, $59K<\/a>, and $91K<\/a>. <\/p>\n\n\n\n

One of Phillips bigger dumps was on April 20th 2021 after he tweeted \"Diamond hands ? always win!\". He sold off $33K <\/a>, $748K<\/a>, and $755K<\/a> worth of SafeMoon.<\/p>\n\n\n\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Although Phillips runs a YouTube 'prank' channel, he would publicly claim he has \u2018diamond hands\u2019 for holding onto SafeMoon through the dips, urging his 749,000 Twitter followers to \u201cbuy the dip\u201d. In turn, his 'diamond hands' lost their shine as he was pumping the coin right before selling his holdings off for millions in profit.<\/p>\n\n\n\n

The Cover Is Blown<\/h2>\n\n\n\n

After Phillips leaked<\/a> his own BSC wallet address<\/a> by asking his followers to buy him Starbucks, his ulterior motive started to show. With his address users are able to use a blockchain explorer to see all transactions linked to his specific wallet.<\/p>\n\n\n\n

Findseisen carried out a detailed analysis<\/a> of the wallet and found many dates where he seemed to pump the coin via Twitter, and then go on to sell.<\/p>\n\n\n\n

\"\"
Source: Stephen Findseisen \/ Coffeezilla<\/figcaption><\/figure>\n\n\n\n

The Pumps And The Dumps<\/h3>\n\n\n\n

On April 6th 2021, Philips tweeted how he was so proud to be a part of the journey with his SafeMoon family after they reached 300k holders, and then proceeded to sell $7K<\/a>, $100K<\/a>, $113K<\/a>, and $156K<\/a> worth of SafeMoon. <\/p>\n\n\n\n

On April 13th, 2021 Phillips tweeted \"Diamond hand phillips! ??? #RESPONSIBLEWHALESMATTER\" he then sold off another $10K<\/a>, $59K<\/a>, and $91K<\/a>. <\/p>\n\n\n\n

One of Phillips bigger dumps was on April 20th 2021 after he tweeted \"Diamond hands ? always win!\". He sold off $33K <\/a>, $748K<\/a>, and $755K<\/a> worth of SafeMoon.<\/p>\n\n\n\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Fellow YouTuber Stephen Findseisen, known as Coffeezilla published<\/a> a video covering the whole ordeal. The story was bought to light by a whistleblower as Findseisen explains.<\/p>\n\n\n\n

Although Phillips runs a YouTube 'prank' channel, he would publicly claim he has \u2018diamond hands\u2019 for holding onto SafeMoon through the dips, urging his 749,000 Twitter followers to \u201cbuy the dip\u201d. In turn, his 'diamond hands' lost their shine as he was pumping the coin right before selling his holdings off for millions in profit.<\/p>\n\n\n\n

The Cover Is Blown<\/h2>\n\n\n\n

After Phillips leaked<\/a> his own BSC wallet address<\/a> by asking his followers to buy him Starbucks, his ulterior motive started to show. With his address users are able to use a blockchain explorer to see all transactions linked to his specific wallet.<\/p>\n\n\n\n

Findseisen carried out a detailed analysis<\/a> of the wallet and found many dates where he seemed to pump the coin via Twitter, and then go on to sell.<\/p>\n\n\n\n

\"\"
Source: Stephen Findseisen \/ Coffeezilla<\/figcaption><\/figure>\n\n\n\n

The Pumps And The Dumps<\/h3>\n\n\n\n

On April 6th 2021, Philips tweeted how he was so proud to be a part of the journey with his SafeMoon family after they reached 300k holders, and then proceeded to sell $7K<\/a>, $100K<\/a>, $113K<\/a>, and $156K<\/a> worth of SafeMoon. <\/p>\n\n\n\n

On April 13th, 2021 Phillips tweeted \"Diamond hand phillips! ??? #RESPONSIBLEWHALESMATTER\" he then sold off another $10K<\/a>, $59K<\/a>, and $91K<\/a>. <\/p>\n\n\n\n

One of Phillips bigger dumps was on April 20th 2021 after he tweeted \"Diamond hands ? always win!\". He sold off $33K <\/a>, $748K<\/a>, and $755K<\/a> worth of SafeMoon.<\/p>\n\n\n\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Ben Phillips is a UK-based influencer who got involved in the SafeMoon project early on. Phillips joined the team as chief of marketing and used his platforms to promote the SafeMoon token while simultaneously selling his holdings, this is called a pump and dump.<\/p>\n\n\n\n

Fellow YouTuber Stephen Findseisen, known as Coffeezilla published<\/a> a video covering the whole ordeal. The story was bought to light by a whistleblower as Findseisen explains.<\/p>\n\n\n\n

Although Phillips runs a YouTube 'prank' channel, he would publicly claim he has \u2018diamond hands\u2019 for holding onto SafeMoon through the dips, urging his 749,000 Twitter followers to \u201cbuy the dip\u201d. In turn, his 'diamond hands' lost their shine as he was pumping the coin right before selling his holdings off for millions in profit.<\/p>\n\n\n\n

The Cover Is Blown<\/h2>\n\n\n\n

After Phillips leaked<\/a> his own BSC wallet address<\/a> by asking his followers to buy him Starbucks, his ulterior motive started to show. With his address users are able to use a blockchain explorer to see all transactions linked to his specific wallet.<\/p>\n\n\n\n

Findseisen carried out a detailed analysis<\/a> of the wallet and found many dates where he seemed to pump the coin via Twitter, and then go on to sell.<\/p>\n\n\n\n

\"\"
Source: Stephen Findseisen \/ Coffeezilla<\/figcaption><\/figure>\n\n\n\n

The Pumps And The Dumps<\/h3>\n\n\n\n

On April 6th 2021, Philips tweeted how he was so proud to be a part of the journey with his SafeMoon family after they reached 300k holders, and then proceeded to sell $7K<\/a>, $100K<\/a>, $113K<\/a>, and $156K<\/a> worth of SafeMoon. <\/p>\n\n\n\n

On April 13th, 2021 Phillips tweeted \"Diamond hand phillips! ??? #RESPONSIBLEWHALESMATTER\" he then sold off another $10K<\/a>, $59K<\/a>, and $91K<\/a>. <\/p>\n\n\n\n

One of Phillips bigger dumps was on April 20th 2021 after he tweeted \"Diamond hands ? always win!\". He sold off $33K <\/a>, $748K<\/a>, and $755K<\/a> worth of SafeMoon.<\/p>\n\n\n\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

<\/p>\n","post_title":"There Are Over 1700 Deadcoins, Cryptocurrencies Forgotten By This World","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"there-are-over-1700-deadcoins-cryptocurrencies-forgotten-by-this-world","to_ping":"","pinged":"\nhttps:\/\/blog.chainalysis.com\/reports\/2021-crypto-scam-revenues\/","post_modified":"2022-04-21 16:38:06","post_modified_gmt":"2022-04-21 06:38:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4478","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4383,"post_author":"1","post_date":"2022-04-16 19:43:19","post_date_gmt":"2022-04-16 09:43:19","post_content":"\n

Ben Phillips is a UK-based influencer who got involved in the SafeMoon project early on. Phillips joined the team as chief of marketing and used his platforms to promote the SafeMoon token while simultaneously selling his holdings, this is called a pump and dump.<\/p>\n\n\n\n

Fellow YouTuber Stephen Findseisen, known as Coffeezilla published<\/a> a video covering the whole ordeal. The story was bought to light by a whistleblower as Findseisen explains.<\/p>\n\n\n\n

Although Phillips runs a YouTube 'prank' channel, he would publicly claim he has \u2018diamond hands\u2019 for holding onto SafeMoon through the dips, urging his 749,000 Twitter followers to \u201cbuy the dip\u201d. In turn, his 'diamond hands' lost their shine as he was pumping the coin right before selling his holdings off for millions in profit.<\/p>\n\n\n\n

The Cover Is Blown<\/h2>\n\n\n\n

After Phillips leaked<\/a> his own BSC wallet address<\/a> by asking his followers to buy him Starbucks, his ulterior motive started to show. With his address users are able to use a blockchain explorer to see all transactions linked to his specific wallet.<\/p>\n\n\n\n

Findseisen carried out a detailed analysis<\/a> of the wallet and found many dates where he seemed to pump the coin via Twitter, and then go on to sell.<\/p>\n\n\n\n

\"\"
Source: Stephen Findseisen \/ Coffeezilla<\/figcaption><\/figure>\n\n\n\n

The Pumps And The Dumps<\/h3>\n\n\n\n

On April 6th 2021, Philips tweeted how he was so proud to be a part of the journey with his SafeMoon family after they reached 300k holders, and then proceeded to sell $7K<\/a>, $100K<\/a>, $113K<\/a>, and $156K<\/a> worth of SafeMoon. <\/p>\n\n\n\n

On April 13th, 2021 Phillips tweeted \"Diamond hand phillips! ??? #RESPONSIBLEWHALESMATTER\" he then sold off another $10K<\/a>, $59K<\/a>, and $91K<\/a>. <\/p>\n\n\n\n

One of Phillips bigger dumps was on April 20th 2021 after he tweeted \"Diamond hands ? always win!\". He sold off $33K <\/a>, $748K<\/a>, and $755K<\/a> worth of SafeMoon.<\/p>\n\n\n\n

Findeisen concluded his analysis with detailed calculations of the huge profits that Phillips gathered thanks to his dumps;<\/p>\n\n\n\n

<\/p>\n\n\n\n

Safe<\/s>DangerousMoon<\/h2>\n\n\n\n

Only 10 months ago analysts of SafeMoon were\u00a0warning investors<\/a>\u00a0of their concerns with SafeMoon being a \u2019pump and dump\u2019. To add, a recent\u00a0class-action lawsuit<\/a>\u00a0was filed in the U.S. District Court in California against SafeMoon and its promoters including; celebrity promoters and its executive officers. The lawsuit accuses SafeMoon\u2019s tokens of being a \u2019Ponzi-like Pump and Dump scheme\u2019.<\/p>\n\n\n\n

Along with this, SafeMoons VP Charles Karony announced<\/a> he was leaving the project to go back to school, but made sure to praise the community for their achievements.<\/p>\n\n\n\n

Watch Coffeezilla's Full Breakdown Here:<\/strong><\/h4>\n\n\n\n
\nhttps:\/\/www.youtube.com\/watch?v=xgMyFb0JnsE&t=444s\n<\/div><\/figure>\n","post_title":"YouTuber Ben Phillips Cashed Out Over $12M In SafeMoon While Pumping It","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"youtuber-ben-phillips-cashed-out-over-12m-in-safemoon-while-pumping-it","to_ping":"","pinged":"","post_modified":"2022-04-16 19:44:28","post_modified_gmt":"2022-04-16 09:44:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4383","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4122,"post_author":"1","post_date":"2022-03-27 22:04:13","post_date_gmt":"2022-03-27 11:04:13","post_content":"\n

The US Department of Justice (DOJ) <\/a>has announced<\/a> the arrest of two men over a conspiracy to launder money and commit wire fraud \u201cin connection with a million-dollar scheme to defraud purchasers of NFTs advertised as Frosties<\/a>.\u201d<\/p>\n\n\n\n

Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n

NFT Scam In The Making<\/h2>\n\n\n\n

The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n

The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n

Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n

Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n

Kenyan Cabinet Secretary Joe Mucheru reported<\/a> that Kenyans have lost a massive $120 million to various crypto scams within the last financial year. <\/p>\n\n\n\n

Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n

I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n

Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n

Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=VYWugL0-COE\n<\/div><\/figure>\n\n\n\n

<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n