Published by
The Street
The Street
By Kirk O’Neil Ponzi schemes continue to infest the cryptocurrency sector, adding to the industry’s growing challenges. Slumping cryptocurrencies have not only had to deal with plummeting values lately, but authorities are uncovering more and more crypto crimes that are adding to the industry’s bad name. U.S. tax authorities have said they were following 50 separate leads into scams involving nonfungible tokens and other aspects of the crypto industry. Tax investigators also said on May 13 that they were pursuing evidence of a $1 billion Ponzi scheme in the crypto market. Beware of Crypto Frau…
