cryptocrime

The leading figures behind the IcomTech cryptocurrency project built an image of success through flashy lifestyles, luxury cars, and extravagant events. Behind the façade, however, was a classic Ponzi scheme that cost investors millions of dollars. One of the key promoters has now paid a heavy price for his role.
On Thursday, a U.S. court sentenced Magdaleno Mendoza to 71 months in prison for his involvement in a large-scale crypto fraud that primarily targeted Spanish-speaking working-class investors. Mendoza was one of the main promoters of IcomTech, a project that outwardly presented itself as a cryptocurrency mining and trading company.
According to a statement from the U.S. Attorney’s Office for the Southern District of New York, IcomTech launched in mid-2018 and collapsed by the end of 2019. Investors were promised guaranteed daily returns supposedly generated through crypto trading and mining. In reality, the operation functioned as a multi-level marketing Ponzi scheme, using funds from new participants to pay earlier investors while promoters siphoned off hundreds of thousands of dollars for personal use.

In addition to his prison sentence, Mendoza was ordered to pay $789,218.94 in restitution and forfeit approximately $1.5 million in assets, including a home in Downey, California, that had been purchased with proceeds from the scheme.
Investigators found that Mendoza was no newcomer to such operations. He had previously promoted at least two other crypto Ponzi schemes and was among the longest-serving promoters at IcomTech. He maintained close contact with the project’s founder, David Carmona, and played an active role in recruiting new investors.
Mendoza even used his own restaurant in the Los Angeles area to host promotional events, collecting thousands of dollars in cash from attendees. Promoters traveled across the United States staging lavish presentations, arriving in luxury vehicles and wearing designer clothing. Meanwhile, victims watched fictitious “profits” grow on internal dashboards to which they had no real access.
By August 2018, withdrawal requests began to face delays, excuses, and hidden fees. In response, IcomTech introduced its own internal token, “Icoms,” falsely marketed as valuable for future payments and investments. In reality, the token was worthless and only deepened investors’ losses.
According to Ari Redbord, global head of policy at blockchain intelligence firm TRM Labs and a former U.S. federal prosecutor, these types of schemes systematically exploit vulnerabilities within immigrant communities. Promoters often share the same language and cultural background as their victims, which lowers skepticism and increases trust. They also take advantage of limited access to traditional financial services and a lack of regulatory warnings in victims’ primary languages.
Redbord noted that a 71-month sentence aligns with how courts currently approach large-scale crypto Ponzi schemes, especially where there is clear intent, significant harm to victims, and sustained promotion. He added that courts today focus less on the label “cryptocurrency” and more on traditional fraud factors such as scale, duration, losses, and leadership roles.
Mendoza’s sentence was also influenced by his illegal presence in the United States. He had lived in the country unlawfully for decades, had been deported four times—once under a false identity—and continued promoting at least three additional crypto Ponzi schemes after IcomTech collapsed.
Several other co-conspirators have been separately convicted and sentenced for their roles in the scheme, including founder David Carmona, alleged CEO Marco Ruiz Ochoa, web developer Gustavo Rodriguez, and leading promoters David Brend, Juan Arellano, and Moses Valdez.
Redbord emphasized that repeat promoters remain one of the toughest challenges in combating crypto fraud. Many move from one scheme to another, rebrand their presentations, and target new communities across platforms and jurisdictions. The IcomTech case, he said, shows that even when promoters resurface, their past eventually catches up with them.

#Cryptoscam , #CryptoFraud , #CryptoInvesting , #CryptoCrime , #worldnews

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The United States is preparing to crack down on the rising wave of cryptocurrency-related fraud. Two U.S. senators – Democrat Elissa Slotkin and Republican Jerry Moran – have introduced a new bill called the SAFE Crypto Act, aimed at creating a federal task force focused on preventing and investigating crypto fraud.

Goal: Strengthen Cross-Sector Cooperation
The proposed unit would be established within 180 days of the bill’s passage and would coordinate activities between government agencies, regulators, industry representatives, blockchain analytics providers, and crypto exchanges.
The task force would be responsible for:

🔹 Detecting and preventing fraud

🔹 Creating a cross-sector anti-fraud strategy

🔹 Gathering insights from all key stakeholders

🔹 Facilitating information sharing

🔹 Working to recover fraudulently acquired assets
The task force would meet at least three times a year and would be required to publish a comprehensive report within one year, outlining its strategies, findings, and any recommended regulatory or legislative changes.

A Coordinated Attack on Crypto Criminals
Lawmakers hope this bill will significantly improve coordination between state entities, regulatory bodies, and the private sector. The crypto world has been a frequent target of sophisticated attacks and fraud – with losses exceeding $53 billion since 2023, according to analysts.
By April 2025 alone, losses had already surpassed $1.7 billion – more than the total for all of 2024. These alarming figures have spurred urgent legislative action.

Industry Experts May Join the Team
Potential members of the task force could include specialists from blockchain security and analytics firms. Their role will be vital in identifying new fraud methods, proposing consumer protection measures, and helping law enforcement pursue international crypto criminals.

First Step Toward Broader Regulation?
The SAFE Crypto Act may only be the beginning. The bill expects the task force to recommend further legislative reforms, potentially leading to broader regulatory changes for the crypto industry. Emphasis is placed on swift responses, asset freezing, seizure, and dismantling of fraud infrastructures.
As cryptocurrencies gain traction and fraud techniques become increasingly advanced, this initiative could be a milestone in restoring investor confidence and protecting the integrity of digital finance.

#CryptoFraud , #blockchain , #DigitalAssets , #CryptoCrime , #CryptoRegulation

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10 грудня 2025 року Національна поліція Іспанії оголосила про затримання п'ятьох осіб у справі про викрадення та вбивство чоловіка в Міхасі (Малага), мотивоване крадіжкою його криптоактивів. Інцидент стався у квітні: група озброєних чоловіків у масках напала на пару, поранила чоловіка пострілом у ногу та викрала їх.

Жертв утримували кілька годин у будинку, намагаючись силою отримати доступ до криптогаманців. Жінку відпустили опівночі, вона звернулася до поліції. Тіло чоловіка з ознаками насильства знайшли в лісистій місцевості. Це класичний "wrench attack" — фізичний напад для примусу до передачі крипти.

Ще чотирьох підозрюваних звинувачено в Данії, двоє з них вже відбувають термін за подібні злочини. Під час обшуків вилучено пістолети, закривавлений одяг та інші докази. Справа підкреслює зростання насильницьких злочинів проти власників криптовалюти у 2025 році.

Не пропустіть свіжі новини з світу майнінгу та крипти! Підписуйтесь на @Mining Updates
#MiningUpdates .

#CryptoCrime #SpainPolice #Kidnapping #Murder #Cryptocurrency #WrenchAttack #CryptoNews #BlockchainSecurity #CryptoTheft

Ronald Spektor, a New York resident, has been arrested for orchestrating a massive cryptocurrency scam. By impersonating a Coinbase customer support agent, he allegedly stole $6.5 million from unsuspecting users.
The case, which dragged on for over a year, was finally cracked thanks to the persistent investigation of renowned blockchain sleuth ZachXBT, who played a key role in identifying the culprit.

The Phishing Trap
The incident began in October 2024 when a victim received a fake contact link for Coinbase customer service. The scammer redirected the person to a phishing website designed to mimic the official exchange. After entering their login credentials, the victim’s account was instantly drained.
ZachXBT received a desperate plea for help and began tracking the stolen funds through the blockchain. Using IP addresses, email trails, and on-chain analysis, he eventually tied the crime back to Ronald Spektor. Ironically, the scammer exposed himself by sharing a screenshot of large deposits on Discord shortly after the theft.

Arrest After Months of Silence
Nothing was heard about the case until December 15, 2025, when ZachXBT announced Spektor’s arrest, crediting the outcome to his own investigative efforts. It remains unclear whether the stolen funds have been recovered or if the victim will be compensated. Investigators suspect Spektor may have had accomplices, as only part of the money was traced back to him.

Coinbase: A Frequent Target
This wasn’t an isolated event. Coinbase, the largest U.S.-based crypto exchange, has long been a favorite target for scammers who exploit its name and brand to run phishing and impersonation schemes—especially during bull markets when wallet balances tend to be higher.
Investigators like ZachXBT estimate that between December 2024 and January 2025, scammers stole over $65 million through Coinbase-related frauds. From January to March, that number grew by another $46 million, with annual estimates reaching between $300 million and $400 million. These figures may be understated, as many incidents go unreported.

Coinbase’s Response
Coinbase claims it has tightened security, implementing fraud detection systems that proactively block suspicious activities. The company continuously warns users not to share passwords, seed phrases, or private keys, and reminds them never to trust unsolicited contacts.
In rare cases, Coinbase has reimbursed users who followed all security guidelines but still fell victim to scams. Still, the company stresses that user vigilance remains the most effective line of defense.

Conclusion
The arrest of Ronald Spektor is a small but significant win in the fight against crypto crime. It proves that blockchain investigations, when paired with public vigilance, can deliver justice. But it also serves as a stark reminder: in the digital world, you are your own best security system.

#Cryptoscam , #CryptoFraud , #coinbase , #CryptoCrime , #cybercrime

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Denmark to charge four others in a serious crime linked to cryptocurrency. The case involves the kidnapping and murder of a man who was targeted because attackers believed he controlled digital assets.
The crime shows a worrying rise in physical attacks used to force people to give access to their crypto wallets. These attacks are often called wrench attacks. They rely on fear and violence instead of online hacking. This case shows how dangerous this trend has become.
The investigation began in April after a woman went to a police station in Malaga. She reported that she and her partner had been kidnapped in the nearby town of Mijas. According to police the couple was attacked by several masked men dressed in black. The attackers were carrying handguns and moved quickly.
During the attack the man tried to escape. He was shot in the leg and then captured again. Both victims were forced into a vehicle and taken to a house. They were held there for several hours against their will.
While they were held the attackers focused on gaining access to the couples cryptocurrency wallets. They pressured the victims and used violence to try to get passwords and control of digital funds. The woman was released around midnight. Her partner was not released.
Later police found the mans body in a wooded area. He had suffered a gunshot wound and other signs of violence. Authorities confirmed that he died as a result of the attack.
After gathering evidence police launched a coordinated operation. Officers carried out six raids in homes across Madrid and Malaga. During these searches they seized two handguns. One was real and one was fake. They also recovered a baton blood stained clothing mobile phones and important documents.
Police also collected biological evidence from the scene. This helped link the suspects to the crime. The investigation showed that the group operated across borders and was organized. Their main goal was to steal cryptocurrency through force.
Police in Denmark worked closely with Spanish authorities. Four people were charged there in connection with the case. Two of them were already in prison for similar crimes. This suggests a pattern of repeated violent behavior.
This case highlights a growing risk for people involved in digital assets. While crypto is often seen as an online activity it can also expose holders to real world danger. Criminals may target individuals directly when they believe large amounts of digital money are involved.
Law enforcement agencies are now paying closer attention to this type of crime. They are urging people to take personal safety seriously and not just focus on online security. Protecting private information is important but physical safety is just as critical.
The tragedy serves as a reminder that the crypto space is still evolving. As it grows new threats also emerge. Awareness caution and cooperation with authorities are key to reducing the risk of such violent attacks in the future.
#CryptoCrime
#DigitalAssetSafety
#CryptoSecurity
#PublicSafety

Do Kwon, mastermind behind the $40B Terra ($LUNA /USDT) collapse, has been sentenced to 15 years in prison — one of the harshest punishments in crypto history.

Victims call it “justice.”
Regulators call it “a message.”
Crypto Twitter calls it “long overdue.”

Terra’s ghost finally gets closure.

#DoKwon #terraluna #CryptoCrime #Regulation #BinanceSquare