Biggest Crypto Scams

What is a pyramid scheme?

• A type of investment in which each person involved recruits others to join. Money made by the new members funnels up to the higher members.

• A type of investment in which each person is guaranteed a certain return on their investment.

• A type of investment in which the value of the investment is tied to the value of a physical asset, such as gold or silver.

• A type of investment scheme in which returns are paid to earlier investors using the investments of more recent investors, rather than from any actual profit earned.

What is a Ponzi scheme?

• 1. A type of investment in which the value of the investment is tied to the value of a physical asset, such as gold or silver.

• 1. A type of investment in which each person is guaranteed a certain return on their investment.

• 1. A fraudulent investment scheme in which returns are paid to earlier investors using the investments of more recent investors, rather than from any actual profit earned.

• 1. A type of investment in which each person involved recruits others to join. Money made by the new members funnels up to the higher members.

Who was arrested recently for the one coin scam by the FBI?

• 1. Ruja Ignatova

• 1. Mark Karpeles

• 1. Craig Wright

• 1. Samuel Benjamin Bankman-Fried

The amount that was siphoned off a Ponzi scheme by one coin was

• 1. 2 Billion

• 1. 3 Billion

• 1. 4.5 Billion

• 1. 4 Billion

The former CEO of the Mt. Gox Bitcoin exchange, was arrested in Japan in 2015 on charges of embezzlement and data manipulation related to the collapse of the exchange, which resulted in the loss of hundreds of millions of dollars worth of Bitcoin

• 1. Michael Rowoon

• 1. Mark Karpeles

• 1. Kim Tae Hyung

• 1. Matt Douglas

The One Coin scam operated from approximately ___ to ___.

• 1. 2014 to 2016

• 1. 2015 to 2017

• 1. 2016 to 2018

• 1. 2013 to 2015

When was BitConnect shut down by the US Securities & Exchange Commission (SEC)?

• 2014

• 2016

• 2018

• 2019

In 2019 Chinese authorities arrested people who were involved in a cryptocurrency investment scheme that promised high returns through a mobile app that allowed users to store and trade a variety of cryptocurrencies, leading to the loss of billions of dollars worth of cryptocurrency for its investors,.

• 1. One coin

• 1. Bit connect

• 1. FTX

• 1. Plus token

What action did the SEC take in regard to BitConnect?

• 1. The SEC issued a warning about the potential risks of investing in BitConnect

• 1. The SEC shut down BitConnect and charged its founders with operating a Ponzi scheme

• 1. The SEC endorsed BitConnect as a safe and legitimate investment opportunity.

• 1. The SEC took over the exchange and banned its founders from the USA.

 The Australian computer scientist who claimed to be the creator of Bitcoin, has been accused of fraud and of using forged documents to support his claim

• 1. Craig Wright

• 1. William Cameron 

• 1. Andrew Wright

• 1. Anthony James Charlie