Daily fraud update: 4th November

Chris Lee

More details of Thai forex scam released

More details have been released about an alleged foreign exchange scam in Thailand which made the news headlines last week.

Forex-3D was a foreign exchange trading opportunity taken up by thousands of people in the Southeast Asian country.

However, it later transpired that the scheme showed elements of a Ponzi scheme, in which participants pay in and the controller of the scheme uses these payments to pay off other investors – creating an illusion of profit.

According to press in the country, there are now believed to be around 30,000 alleged victims.

The scheme, which supposedly told people that they would receive 10% interest each month at least, has allegedly caused financial losses of about 4m Thai baht – which is equal to around $132,000 or £102,000.

Now, however, a government ministry in the country has revealed that a number of people are seeking to take action as a collective.

It follows a protest which took place last week outside the Department of Special Investigations.

The justice ministry said that a hundred victims were now getting ready to tell the Department that they wanted the alleged scam to be treated as having “special status”.

Forex-3D has denied the accusations.

In a statement posted on social networking site Facebook, the firm said that if any problems had occurred, they “were caused by members acting illegally”.

As a firm, it said, it has “no connection to such activities”.

New alleged “fake Satoshi” faces criticism

The latest in a long line of people who claim to be a co-founder of Bitcoin is facing claims that he is lying.

Jörg Molt, from Germany, said that he was behind the world-famous cryptocurrency.

However, according to claims made by Twitter users, Molt did not even possess a computer when the original Bitcoin “white paper” – called “Bitcoin: A Peer-to-Peer Electronic Cash System” and credited to the anonymous Nakamoto – was released.

Molt was apparently attending a cryptocurrency conference in Las Vegas last week when he made the claims.

His claims were put to the test by Kenneth Bosak, a well-known name on cryptocurrency Twitter.

Bosak posted a video of Molt being confronted, and it has since received over 4,000 “likes”.

In a further twist, another crypto industry leader – Andreas Antonopolous – hit out at suggestions that Molt was associated with him.

“Apparently, a German person called ‘Jorg Molt’ has been showing a selfie taken with me and telling people that we are friends”, Antonopolous said.

“This is a LIE. I don’t know him at all. I have heard from others that he claims to be the founder of Bitcoin and has thousands of BTC. A LIE”, he added.

Molt is one of many who have been accused of lying about their involvement in the creation of Bitcoin.

Perhaps the most famous “Faketoshi”, Craig Wright, went as far as saying that he was Nakamoto himself.


Chris Lee

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