Posts Tagged
‘cryptocurrency fraud’

Cryptomania is fast becoming a dangerous, money-losing proposition for investors, according to a recent bulletin from the Consumer Financial Protection Bureau (CFPB). The CFPB announcement dovetails with a flurry of reports last week about the collapse of cryptocurrency exchange FTX, leaving possibly more than 1 million creditors at risk of losing tens of billions of [...]

The Mission portfolio team is not fond of cryptocurrency for many reasons. Basically, the cryptocurrency world is full of fraud—from the false allure and promise of Ponzi schemes, to poor security for crypto “wallets,” to “rug-pulls.” The latter (derived from the expression “pull the rug out from under you”) has become a popular scam in [...]