Twitter Blue Checkmark Fraud to Gain Momentum

The fraudster faked one account on Twitter for 6 cryptocurrency accounts within 3 days
19 April 2018   502

Fraud with "blue checkmark" on Twitter goes to a new level - a user who originally pretended to be the official representative of the Verge cryptocurrency, suddenly became the Bitfinex exchange, before attempting to disguise himself under several other accounts. This is reported by CoinDesk.

The verified account of the director of the freelance company Seif Elsbei in Twitter @seifsbei, which is signed by about 83 000 people, suddenly became the official account of the Verge developers. Cryptocurrency was in the spotlight this week, when it became known that it would be accepted by the Pornhub site as a form of payment.

At the same time, this Verge @vergecurrency account does not have a verification mark, which is probably what the hacker who became the owner of the @seifsbei account decided to use.

Twitter allows users to change the profile description, including the display name, without changing the profile name, without losing verification. Thus, @seifsbei became known as vergecurreǹcy and began to copy messages from the original profile.

Soon after, @seifsbei decided to try it out as Bitfinex and renamed its account in Ƀitfinex.

Fake Bitfinex Twitter Account
Fake Bitfinex Twitter Account

A search on Google showed that @seifsbei was betraying himself also for the Bittrex exchange under the name Ƀittrex before becoming Verge and Bitfinex.

Earlier, the account owner was disguised as Vitalik Buterin and posted under the original developer's posts, which in the user's name indicates that he does not distribute ETH, messages about the distribution of ETH.

Retweet messages from accounts @bitcoin and the project Tron suggest that @seifsbei gave himself away more and for them.

Until the last week, almost all @seifsbei messages were published in Arabic. Elsbay said on his Facebook page that his account was hacked.

By now, images from @seifsbei's profile have been deleted, and the account itself has been renamed "."

Fake account in the "stealth mode"
Fake account in the "stealth mode"

Scheme of deception of crypto-currency investors using Twitter was spread at the beginning of this year.

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   174

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.