Phony – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Thu, 22 May 2025 08:19:09 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.9 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Phony – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Amalgam’s Jeremy Jordan-Jones Busted Over Fraud, Phony Blockchain Claims https://earlybirdsinvest.com/amalgams-jeremy-jordan-jones-busted-over-fraud-phony-blockchain-claims/ https://earlybirdsinvest.com/amalgams-jeremy-jordan-jones-busted-over-fraud-phony-blockchain-claims/#respond Thu, 22 May 2025 08:19:08 +0000 https://earlybirdsinvest.com/amalgams-jeremy-jordan-jones-busted-over-fraud-phony-blockchain-claims/

Jeremy Jordan-Jones, the founder of Amalgam Capital Ventures, has been charged with fraud after US authorities accused him of tricking investors into giving him over $1 million for a fake blockchain project.

He was indicted and arrested on May 21 after the Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) completed their investigation.

According to court documents, Jordan-Jones ran a scheme between January 2021 and November 2022. During that time, he claimed his company was working on new blockchain-based payment tools and sales systems.

What Is Tether? (USDT SIMPLY Explained With Animations)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

What Is Tether? (USDT SIMPLY Explained With Animations)

What Is Tether? (USDT SIMPLY Explained With Animations)
What Is Tether? (USDT SIMPLY Explained With Animations)

He also told investors that Amalgam had formed partnerships, including with sports groups, and that the company would soon be listed on crypto exchanges. However, prosecutors say these claims were false.

Officials said Amalgam had no working products, almost no customers, and had not formed any real partnerships. Still, investors were led to believe the business was growing. Jordan-Jones allegedly used these lies to convince people to hand over money, which he then spent on personal expenses instead of business development.

The charges also say he created fake financial records to support his claims. In one example, he submitted a bank statement showing over $18 million in Amalgam’s account to apply for a company credit card.

Jordan-Jones faces several charges, including wire fraud, securities fraud, making false statements to a bank, and identity theft. The fraud charges each carries penalties of up to 20 years in prison. The charge for lying to a bank could lead to 30 years. The identity theft charge has a mandatory two-year sentence if convicted.

On May 20, the Securities and Exchange Commission (SEC) filed a lawsuit against Unicoin, a crypto investment firm, and three of its senior executives. What happened? Read the full story.

Aaron S. Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

]]> https://earlybirdsinvest.com/amalgams-jeremy-jordan-jones-busted-over-fraud-phony-blockchain-claims/feed/ 0 37634 Hackers Hijack ZKsync's X, Post Phony Airdrop and SEC Threats https://earlybirdsinvest.com/hackers-hijack-zksyncs-x-post-phony-airdrop-and-sec-threats/ https://earlybirdsinvest.com/hackers-hijack-zksyncs-x-post-phony-airdrop-and-sec-threats/#respond Tue, 13 May 2025 10:06:43 +0000 https://earlybirdsinvest.com/hackers-hijack-zksyncs-x-post-phony-airdrop-and-sec-threats/

The Layer-2 scaling solution ZKsync and its development team, Matter Labs, were hit with another security incident on May 13.

Their official X accounts were taken over, and during the breach, the attackers shared fake information and phishing links meant to mislead users.

Among the false claims was a message saying that the US Securities and Exchange Commission (SEC) was investigating ZKsync and that the Treasury Department might impose sanctions. These posts were likely designed to create panic and lower the price of ZKsync’s token.

Crypto Token VS Coin (Animated Explainer & Examples)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

Crypto Token VS Coin (Animated Explainer & Examples)

Crypto Token VS Coin (Animated Explainer & Examples)
Crypto Token VS Coin (Animated Explainer & Examples)

The posts also included links to a fake airdrop, part of a phishing scam to trick users into giving away sensitive information.

Crypto startup co-founder Harrison Leggio, also known as “Pop Punk”, noted in X’s post how the attackers seemed focused more on causing fear than stealing money. He said that instead of launching a scam token, they chose to scare crypto users by posting a fake government investigation.

According to the latest post on X, ZKsync stated, “Both ZKsync and Matter Labs accounts are still compromised”. They also warned users not to interact with these accounts.

On April 15, an attacker used a function in the project’s token distribution system to mint 111 million unclaimed ZK tokens, worth around $5 million at the time. How did ZKsync respond to the incident? Read the full story.

Aaron S. Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

]]> https://earlybirdsinvest.com/hackers-hijack-zksyncs-x-post-phony-airdrop-and-sec-threats/feed/ 0 35965