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Ponzi

Blast founder Tieshun "Pacman" Roquerre is suddenly fending off the critics. (Creative Commons, modified by CoinDesk)
Technology
Analysis
Blast's One-Week, $600M Haul Shows Promise of Yield, Pitfalls of Hype
The idea of a yield-paying layer-2 blockchain atop Ethereum has clearly demonstrated market allure. But even the project's biggest investor has taken issue with the execution...
Blast founder Tieshun "Pacman" Roquerre is suddenly fending off the critics. (Creative Commons, modified by CoinDesk)
By Sam Kessler
Nov 29, 2023 at 12:00 p.m. UTC
Nov 29, 2023
AnalysisParadigmYield FarmingYieldPonziPonzi schemePacmanPyramid Scheme
(DALL-E/CoinDesk)
Policy
Ponzi
Airbit Club Founders, Lawyer Plead Guilty to $100M Fraud Scheme
The scheme's founders and promoters promised victims their money would be invested in a lucrative mining operation, but instead spent funds on cars, jewelry and luxury homes.
(DALL-E/CoinDesk)
By Cheyenne Ligon
Mar 8, 2023 at 10:01 p.m. UTC
Mar 8, 2023
PonziPonzi scheme
BKCoin co-founder Kevin Kang (BKCoin)
Policy
Regulations
SEC Files Emergency Action Against BKCoin for Running $100M ‘Ponzi-Like’ Scheme
BKCoin co-founder Kevin Kang is accused of misappropriating client funds to bankroll vacations, purchase tickets to sporting events and pay rent on his New York City apartment...
BKCoin co-founder Kevin Kang (BKCoin)
By Cheyenne Ligon
Mar 6, 2023 at 5:43 p.m. UTC
Mar 6, 2023
RegulationsMiamiHedge FundCrimeSECPonzi
(Getty Images)
Policy
Regulations
Forsage Founders Indicted for $340M Ponzi Scheme Masquerading as DeFi Platform
Company relied on smart contracts whose coding is consistent with a Ponzi scheme, the U.S. Justice Department says.
(Getty Images)
By Nick Baker
Feb 22, 2023 at 11:45 p.m. UTC
Feb 22, 2023
RegulationsDeFiPonziDOJUS
(Shutterstock)
Policy
Regulations
EminiFX CEO Eddy Alexandre Set to Plead Guilty to Role in Alleged $59M Ponzi Scheme
Alexandre was arrested in May and charged with fraud for his role in the alleged pyramid scheme.
(Shutterstock)
By Cheyenne Ligon
Feb 8, 2023 at 6:53 p.m. UTC
Feb 8, 2023
RegulationsNew YorkFraudPonzi
Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner
Video
Celsius network
Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner
An independent examiner for the U.S. bankruptcy court in New York said in a Tuesday filing that crypto lender Celsius Network misled its investors and occasionally used new cu...
Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner
By CoinDesk Staff
Jan 31, 2023 at 7:01 p.m. UTC
Jan 31, 2023
Celsius NetworkcdtvHash clipBankruptcyPonzi
(Getty Images)
Policy
Regulations
BitConnect’s Victims to Receive $17M in Restitution Seized From Scam’s Promoter
The money will be distributed to approximately 800 victims from over 40 different countries.
(Getty Images)
By Cheyenne Ligon
Jan 13, 2023 at 4:43 p.m. UTC
Jan 13, 2023
RegulationsBitconnectCrimePonziLegal
Finiko founders (L-R) Marat Sabirov, Kirill Doronin and Edvard Sabirov (Finiko/YouTube)
Policy
Russia
Leader of Suspected Russian Ponzi Scheme Is Arrested in UAE: Report
Edvard Sabirov's arrest leaves just one of the four known leaders of the Finiko fund at large.
Finiko founders (L-R) Marat Sabirov, Kirill Doronin and Edvard Sabirov (Finiko/YouTube)
By Anna Baydakova
Dec 8, 2022 at 4:30 p.m. UTC
Dec 8, 2022
RussiaUAEArrestLegalPonzi
(Leon Neal/Getty Images)
Layer 2
Tax week 2022
If You Lost Money on FTX, You May See Some Tax Relief
Tax expert Victoria J. Haneman compares Sam Bankman-Fried's crypto trading empire to Bernie Madoff's Ponzi scheme to glean what the FTX fallout could mean for tax filers.
(Leon Neal/Getty Images)
By Victoria Haneman
Nov 18, 2022 at 4:54 p.m. UTC
Nov 18, 2022
Tax Week 2022OpinionFTX CollapseFTXtaxesRegulationPonzi
JPMorgan Chase CEO Jamie Dimon speaking at IIF event (CoinDesk)
Finance
Jamie dimon
Jamie Dimon Again Slams Crypto, Calls Blockchain 'Real'
The head of the largest U.S. bank by assets spoke during an IIF event Thursday in Washington, D.C.
JPMorgan Chase CEO Jamie Dimon speaking at IIF event (CoinDesk)
By Michael Bellusci
Oct 13, 2022 at 8:59 p.m. UTC
Oct 13, 2022
Jamie DimonBitcoinPonzi schemePonziBlockchainJPMorgan Chase