Scam Round-Up: Asian Investment Schemes and Snail Mail Extortion (news.bitcoin.com)

Unfortunately, as with any industry, scams of all shapes and sizes persist within the cryptocurrency sector. This past week has seen a Filipino couple arrested after amassing over $ 17 million USD through a bitcoin investment scam, and protests held outside the office of a Vietnamese company that swindled $ 660 through two multi-level marketing (MLM) initial coin offerings (ICOs). It appears that cryptocurrency scams are still being peddled via analog communications – with phone and

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South Korean Exchange Paying Users to Report Illegal Crypto Schemes (news.bitcoin.com)

The Kakao-backed cryptocurrency exchange Upbit has launched a system to reward users for identifying fraudulent multi-level schemes related to cryptocurrencies. The exchange has already identified and reported 20 such schemes to the police.
Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7

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China bans crypto-currency fundraising schemes (theregister.co.uk)

Bitcoin, Ethereum values dip after ‘Initial Coin Offerings’ ruled dangerously disruptive
Digital currencies Bitcoin and Ethereum have slipped after the Chinese government banned Initial Coin Offerings, a tool that sees equities offerings bid in cryptocurrencies instead of fiat currencies, a share funding mechanism.

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SEC Warns of ICO Schemes After Suspending 4 Firms (news.bitcoin.com)

The U.S. Securities and Exchange Commission (SEC) has issued a warning about companies making Initial Coin Offering (ICO) claims. It warns of schemes including pump-and-dump and market manipulation as well as points out how companies may use ICOs to boost their stock prices. The warning follows the trading suspension of four companies’ shares by the Commission.
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