“Digital Currency”

The Bank of Canada says creating a digital version of the dollar is technically feasible, but public distrust and limited interest make broad adoption unlikely.

Blacklock’s Reporter says the bank emphasized that it has no current plans to launch a central bank digital currency despite completing a feasibility study showing it could work for basic payments.

The elite want this. For you.

In the balmy late afternoon of Aug. 25, 2024, Sushil and Radhika Chetal were house-hunting in Danbury, Conn., in an upscale neighborhood of manicured yards and heated pools. Sushil, a vice president at Morgan Stanley in New York, was in the driver’s seat of a new matte gray Lamborghini Urus, an S.U.V. with a price tag starting around $240,000. As they turned a corner, the Lamborghini was suddenly rammed from behind by a white Honda Civic. At the same time, a white Ram ProMaster work van cut in front, trapping the Chetals. According to a criminal complaint filed after the incident, a group of six men dressed in black and wearing masks emerged from their vehicles and forced the Chetals from their car, dragging them toward the van’s open side door.

An American businessman who lost $26 million in a cryptocurrency investment scam is asking British Columbia’s courts to help find his money — and the people who stole from him.

For four months, LW believed he was in an online romantic relationship with a Vancouver woman named Qian Xin who enticed him to invest millions of dollars in cryptocurrency-based trading platforms.

But a private investigator’s report said that Xin likely never existed, and the exchanges where LW invested his money turned out to be bunk. Canadian authorities say it’s an increasingly prevalent type of scam where fraudsters forge romantic or platonic relationships with their victims online, then push them to invest as much as they can in a phoney scheme.

So rich but so dumb.

As Jack and his beanstalk can tell you, there are no magic beans. Unfortunately, those who believe cryptocurrency is their ticket to enormous wealth or financial security will soon find out that they, too, have no magic beans. What they may have is Monopoly money.

With that in mind, it needs to be said that recent actions to create a Strategic Bitcoin Reserve opens the door to potentially serious issues.

Equally chilling is the vulnerability of cryptocurrency to hackers. Media reports reveal that North Korean hackers recently stole $1.5 billion in cryptocurrency from Bybit, described as the world’s second-largest crypto exchange. One can probably assume those hackers were operating under instructions from their government.

Canadians are losing millions of dollars in cryptocurrency fraud schemes and at least one Ontario detective specializing in the area predicts such scams will soon outpace wire transfers as the largest payment method used by fraudsters.

Ontario Provincial Police are warning potential cryptocurrency investors to do more to protect themselves as the digital currency’s popularity grows.

OPP Det.-Const. John Armit with the anti-rackets branch says crypto scam cases are difficult for police to solve because the currency can be quickly sent to exchanges in different jurisdictions around the world that may or may not be willing to cooperate with police in the province.

Logan Paul, the massively popular social media personality, is facing fresh questions over his cryptocurrency dealings amid ongoing concerns he may have profited from misleading fans.

The BBC has seen new evidence suggesting he promoted investments without revealing he had a financial interest in them.

The influence of Paul – whose YouTube channel has more than 23 million followers – appears to have caused prices in these investments to spike, leading to suggestions he could have profited from sales of any tokens he held.

Paul also currently faces a multi-million-dollar lawsuit over a failed crypto project called CryptoZoo.

Watch Coffeezilla and you’ll never go near Crypto whatever ever. Many “celebs” whether witting or not have been involved in Rug Pulls etc.