Philippines’ SEC Declares Top Ethereum-Based DApp a Ponzi

The Philippines' Securities and Exchange Commission (SEC) has declared the top Ethereum DApp, Forsage, which accounts for 25 percent of the activity on Ethereum network as a possible Ponzi scheme. As a major source of activity on the Ethereum network recently, Dune Analytics shows that Forsage smart contract consumed 12.78 percent of Ethereum’s gas within the previous 24 hours. Forsage, which is behind the increase in ETH transaction fees, claims itself as a fully decentralized matrix marketing project, as well as the most thought-out…

Top Cryptocurrency Scams in 2019 – A Look Back

The word scam is often applied to dubious startups and/or Initial Coin Offerings (ICOs)/Initial Exchange Offering (IEOs) within the cryptocurrency community. When the project seems to lack any practical usefulness, and the business idea behind it is suspicious, such projects are often referred to as scams. Compared with other ways of stealing money, the main feature of a Bitcoin scam is that it usually takes advantage of people’s trust and negligence. Currently, the cryptocurrency market is not regulated enough to…