Exit Scam

Mehmet Aydın, founder of Çiftlik Bank, was sentenced to 45,376 years in prison for running a Ponzi scheme that defrauded over 500,000 people. He fled to Uruguay but was later extradited to Turkey, where he denied the charges but was convicted of fraud and money laundering.

A company in China has lost RM2.6 million (approximately SGD$793,000) in a fraudulent deal to purchase frozen Musang King durian from Malaysia.

The SEC has charged individuals behind two crypto scams, NanoBit and CoinW6, that exploited investors through “relationship investment” tactics, warning of the growing threat of romance scams in the crypto sector.

A settlement reached with GS Partners ensures full refunds for investors in five U.S. states, though further legal actions may still follow.

Telegram founder Pavel Durov was arrested in France, exposing various legal problems existing in the Telegram platform. Binance’s listing of TON means that it has once again brought new legal risks to itself. Justin Sun and Binance’s first sister He Yi needs to find a new way out under the severe regulatory environment.

Telegram创始人Pavel Durov在法国被抓，暴露出Telegram平台所存在的各项法律问题，币安上线TON意味着将自身又一次带来了新的法律风险，孙宇晨（Justin sun）和币安一姐何一在监管严峻环境下要寻求一条新的出路。

Binance’s advanced fraud detection systems have saved over $2.4 billion in potential losses in 2024, underscoring the importance of both technology and user vigilance.

ZKasino users continue to wait for promised refunds as accusations of an exit scam grow louder. The project's future remains uncertain, with significant legal and financial challenges ahead.

The Philippine Immigration Service launched a raid in a community in Benguet Province last Saturday (July 27), and arrested two foreign citizens illegally residing in the country. Among them, the arrested man is an Interpol Red Notice criminal who has previously committed financial fraud worth more than 7 billion yuan in China.

菲律宾移民局周六在本格特省（Benguet）一小区内展开突袭行动，此次行动逮捕了两名非法居留的外国公民。其中被捕男子为国际刑警组织红色通缉犯，此前在中国境内犯超下70亿人民币的金融诈骗案。