• Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, June 25, 2022
Digital Coin News
  • Home
  • Crypto Social
  • News
    • Bitcoin News
    • Altcoins
  • NFT’s
    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    Economic Fail Or Key To A Creative Future?

    Economic Fail Or Key To A Creative Future?

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

    OpenSea Tightens Security To Prevent NFT Scams And Fraud

    OpenSea Tightens Security To Prevent NFT Scams And Fraud

  • Metaverse
    Demystifying Metaverse Competition - NFT News Today

    Demystifying Metaverse Competition

    The Go-To Marketplace For All Things Metaverse

    The Go-To Marketplace For All Things Metaverse

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    The Web 3 LAND Sale

    The Web 3 LAND Sale

    Disney Metaverse

    Disney Hires Former Apple Executive to Head Metaverse Creative Strategy

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    Man wearing smart glasses touching a virtual screen to access the metaverse

    How The Metaverse Can Change Mental Health For The Better

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

  • Analysis
    Bitcoin

    Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K

    bitcoin google

    Is Bitcoin Like Buying Google Early? The Shocking Comparison

    Harmony's Cross-Chain Bridge Exploited for $100M

    Harmony’s Cross-Chain Bridge Exploited for $100M

    Ethereum Key Indicators Suggest Strengthening Case For More Upsides

    Ethereum Key Indicators Suggest Strengthening Case For More Upsides

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

    Bitcoin

    Bitcoin Could Restart Increase If The Bulls Clear This Resistance

    Ethereum

    What Could Trigger Sharp Decline

    Bitcoin

    Bitcoin Trims Gains, Why 100 SMA Could Trigger Fresh Increase

    Ethereum

    Ethereum Tops Near $1,200, Why Dips Could Be Attractive

  • Learn About Crypto
    What Is a Decentralized Exchange (DEX)?

    What Is a Decentralized Exchange (DEX)?

    What Is Ethereum 2.0 (The Merge)?

    What Is Ethereum 2.0 (The Merge)?

    Breaking: ExxonMobil is Mining Bitcoin With Natural gas

    Iran Cuts Power Supply To Crypto Mines;

    What Is Crypto Lending

    What Is Crypto Lending

    How to Survive a (Crypto) Bear Market

    How to Survive a (Crypto) Bear Market

    Top 6 Crypto Events for June 2022 – Coingape

    What Is A Bull Flag Pattern and How to Use It

    What Is A Bull Flag Pattern and How to Use It

    A Beginner’s Guide To Reversal Candlestick Patterns

    A Beginner’s Guide To Reversal Candlestick Patterns

    Wash Trading: What Is It and How Does It Work?

    Wash Trading: What Is It and How Does It Work?

  • Regulation
    Singapore’s changed stance on crypto

    Singapore’s changed stance on crypto

    Pro-BTC Commissioner Hester Peirce Blasts Regulators, Says SEC Agenda Will Trigger ‘Dangerous’ Market Conditions

    Pro-BTC Commissioner Hester Peirce Blasts Regulators, Says SEC Agenda Will Trigger ‘Dangerous’ Market Conditions

    Gensler appeals for ‘one rule book’ in negotiations with CFTC over crypto regulation

    Gensler appeals for ‘one rule book’ in negotiations with CFTC over crypto regulation

    US State Passes Legislation Allowing Financial Institutions To Offer Crypto Custody Services

    US State Passes Legislation Allowing Financial Institutions To Offer Crypto Custody Services

    CBDC may threaten stablecoins, not Bitcoin: ARK36 exec

    CBDC may threaten stablecoins, not Bitcoin: ARK36 exec

    ‘Brutal and unrelentingly hard:’ Singapore regulator’s clampdown on crypto

    ‘Brutal and unrelentingly hard:’ Singapore regulator’s clampdown on crypto

    Cardano founder steals the show at Congressional hearing on crypto regulation

    Cardano founder steals the show at Congressional hearing on crypto regulation

    Hoskinson pitches software-enabled crypto self-regulation to Congress

    Hoskinson pitches software-enabled crypto self-regulation to Congress

    Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

    Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

No Result
View All Result
  • Home
  • Crypto Social
  • News
    • Bitcoin News
    • Altcoins
  • NFT’s
    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    Economic Fail Or Key To A Creative Future?

    Economic Fail Or Key To A Creative Future?

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

    OpenSea Tightens Security To Prevent NFT Scams And Fraud

    OpenSea Tightens Security To Prevent NFT Scams And Fraud

  • Metaverse
    Demystifying Metaverse Competition - NFT News Today

    Demystifying Metaverse Competition

    The Go-To Marketplace For All Things Metaverse

    The Go-To Marketplace For All Things Metaverse

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    The Web 3 LAND Sale

    The Web 3 LAND Sale

    Disney Metaverse

    Disney Hires Former Apple Executive to Head Metaverse Creative Strategy

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    Man wearing smart glasses touching a virtual screen to access the metaverse

    How The Metaverse Can Change Mental Health For The Better

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

  • Analysis
    Bitcoin

    Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K

    bitcoin google

    Is Bitcoin Like Buying Google Early? The Shocking Comparison

    Harmony's Cross-Chain Bridge Exploited for $100M

    Harmony’s Cross-Chain Bridge Exploited for $100M

    Ethereum Key Indicators Suggest Strengthening Case For More Upsides

    Ethereum Key Indicators Suggest Strengthening Case For More Upsides

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

    Bitcoin

    Bitcoin Could Restart Increase If The Bulls Clear This Resistance

    Ethereum

    What Could Trigger Sharp Decline

    Bitcoin

    Bitcoin Trims Gains, Why 100 SMA Could Trigger Fresh Increase

    Ethereum

    Ethereum Tops Near $1,200, Why Dips Could Be Attractive

  • Learn About Crypto
    What Is a Decentralized Exchange (DEX)?

    What Is a Decentralized Exchange (DEX)?

    What Is Ethereum 2.0 (The Merge)?

    What Is Ethereum 2.0 (The Merge)?

    Breaking: ExxonMobil is Mining Bitcoin With Natural gas

    Iran Cuts Power Supply To Crypto Mines;

    What Is Crypto Lending

    What Is Crypto Lending

    How to Survive a (Crypto) Bear Market

    How to Survive a (Crypto) Bear Market

    Top 6 Crypto Events for June 2022 – Coingape

    What Is A Bull Flag Pattern and How to Use It

    What Is A Bull Flag Pattern and How to Use It

    A Beginner’s Guide To Reversal Candlestick Patterns

    A Beginner’s Guide To Reversal Candlestick Patterns

    Wash Trading: What Is It and How Does It Work?

    Wash Trading: What Is It and How Does It Work?

  • Regulation
    Singapore’s changed stance on crypto

    Singapore’s changed stance on crypto

    Pro-BTC Commissioner Hester Peirce Blasts Regulators, Says SEC Agenda Will Trigger ‘Dangerous’ Market Conditions

    Pro-BTC Commissioner Hester Peirce Blasts Regulators, Says SEC Agenda Will Trigger ‘Dangerous’ Market Conditions

    Gensler appeals for ‘one rule book’ in negotiations with CFTC over crypto regulation

    Gensler appeals for ‘one rule book’ in negotiations with CFTC over crypto regulation

    US State Passes Legislation Allowing Financial Institutions To Offer Crypto Custody Services

    US State Passes Legislation Allowing Financial Institutions To Offer Crypto Custody Services

    CBDC may threaten stablecoins, not Bitcoin: ARK36 exec

    CBDC may threaten stablecoins, not Bitcoin: ARK36 exec

    ‘Brutal and unrelentingly hard:’ Singapore regulator’s clampdown on crypto

    ‘Brutal and unrelentingly hard:’ Singapore regulator’s clampdown on crypto

    Cardano founder steals the show at Congressional hearing on crypto regulation

    Cardano founder steals the show at Congressional hearing on crypto regulation

    Hoskinson pitches software-enabled crypto self-regulation to Congress

    Hoskinson pitches software-enabled crypto self-regulation to Congress

    Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

    Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

No Result
View All Result
Digital Coin News
No Result
View All Result
Home Altcoins

‪Chinese Police Cracks Down On $5 million Ripple Pyramid Scheme

February 24, 2022
in Altcoins
0
China
81
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Local authorities in China have continued to target crypto scams in the country. The Chinese police have infiltrated a massive crypto ponzi scheme, arresting several suspects and confiscating digital assets.

Multi-million dollar crypto scam busted in China

Xinhua News Agency, a local news outlet, reports that the online pyramid scheme which was called “Ripple UnionPay Community,” operated through a mobile app with the same name.

The police first got wind of the app last year when the Economic Crime Investigation Team of the Pingchuan Branch of the Baiyin City Public Security Bureau.

The police claim the app lured in users with the promise of earning XRP, the native token of the Ripple blockchain, by becoming a member. The scam also promised that users could earn community promotion awards, community operation awards, performance awards, among other rewards.

The scammers also contacted new members through social media platforms like QQ and WeChat. At the time of the crackdown, the police reported that the platform had over 47,000 members across more than 30 Chinese provinces.

The police in the Pingchuan Branch of the Public Security Bureau of Baiyin City, Gansu province arrested seven suspects and recovered more than 8 million XRP worth about 126 million yuan (over $19 million). Computers, mobile phones, and other items involved in the case were also seized.

China is leaving no stone unturned in its crypto crackdown

Chinese authorities and regulators have been massively enforcing the country’s declaration of crypto trading and mining as illegal. In the past month alone, several actions have been taken to make owning and trading digital assets more difficult.

The Chinese Supreme Court has included crypto transactions in the judicial interpretation of illegal ways to raise funds. The government has also dashed speculations that a recently introduced electricity tariff hike for crypto miners could mean that crypto was still legal. It clarified that the law was put in place to make sure there was punishment for illegal crypto mining operators.

The crackdowns have hit the crypto industry in China hard. Speaking with CNBC recently, Du Jun, co-founder of Huobi, said the crypto exchange’s exit from China cost the company 30% of its revenue.

Source link

Tags: ChineseCracksmillionPolicePyramidRippleScheme
Previous Post

Bitcoin (BTC) Price Prediction: BTC Crashes Below $35K, Is $29k Next?

Next Post

The Ultimate Bitcoin Platform is about to Launch

Next Post

The Ultimate Bitcoin Platform is about to Launch

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related News

Binance Coin, Fantom, Waves Price Analysis: 16 March

Binance Coin, Fantom, Waves Price Analysis: 16 March

March 16, 2022
Cosmos: Is taking a short position on ATOM the way to go

Cosmos: Is taking a short position on ATOM the way to go

May 18, 2022
Monero [XMR] traders must watch out for these key levels before entering calls

Monero [XMR] traders must watch out for these key levels before entering calls

May 12, 2022

Browse by Category

  • Altcoins
  • Analysis
  • Bitcoin News
  • Learn About Crypto
  • Metaverse
  • NFT’s
  • Regulation
Digital Coin News

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Metaverse, NFT Market, and more.

CATEGORIES

  • Altcoins
  • Analysis
  • Bitcoin News
  • Learn About Crypto
  • Metaverse
  • NFT’s
  • Regulation

RECENT POST

  • Bitcoin Mining Data Suggests More Price Dumps Ahead; Details
  • This Bitcoin Bear Market Is Unlike Any Other, Here’s Why
  • Singapore’s changed stance on crypto
  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2022 Digitalcoinnews.com - All rights reserved.

No Result
View All Result
  • Home
  • Crypto Social
  • News
    • Bitcoin News
    • Altcoins
  • NFT’s
  • Metaverse
  • Analysis
  • Learn About Crypto
  • Regulation

© 2022 Digitalcoinnews.com - All rights reserved.

  • bitcoinBitcoin(BTC)
    $21,059.000.350% 24H
    BITCOIN
    24H : 0.350%
    Volume : $17,635,796,151.00
    Marketcap : $401,997,744,502.00
  • ethereumEthereum(ETH)
    $1,192.82-0.30% 24H
    ETHEREUM
    24H : -0.30%
    Volume : $12,433,193,204.00
    Marketcap : $144,734,632,076.00
  • tetherTether(USDT)
    $1.000-0.07% 24H
    TETHER
    24H : -0.07%
    Volume : $33,170,810,579.00
    Marketcap : $66,916,705,820.00
  • usd-coinUSD Coin(USDC)
    $1.00-0.15% 24H
    USD COIN
    24H : -0.15%
    Volume : $3,706,422,748.00
    Marketcap : $55,985,037,301.00
  • binancecoinBNB(BNB)
    $232.61-1.07% 24H
    BNB
    24H : -1.07%
    Volume : $897,455,728.00
    Marketcap : $37,996,498,641.00