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ezBtc Under Investigation for Massive Crypto Fraud Scheme

Posted on May 2, 2023May 2, 2023 by Laura P.

According to the British Columbia Securities Commission (BCSC), the Canadian crypto trading platform, ezBtc, has been engaging in fraudulent activities for the past three years. It has come to light that ezBtc has lied to its consumers about the protection of their personal assets and has instead been funneling the customers’ money to online gambling websites. That is right, instead of keeping their customers’ assets safe and secure, ezBtc transferred incoming Bitcoin and Ether to two crypto gambling websites, and the assets were worth a staggering $13 million as of mid-2019.

However, things only get worse. According to the BCSC’s findings, ezBtc did not maintain custody of its client’s money, and most of the holdings reported by the platform did not exist. To put it another way, to trick its customers, ezBtc has been pretending on its website to have real holding thus acting just like a bank would.

But wait, there’s more bad news! EzBtc has been running under the auspices of a numbered corporation known as 1081627 B.C. Ltd. since 2016, when David Smillie, the only director of the firm, registered it. Furthermore, Mr. Smillie’s whereabouts are unknown as of at least the year 2021.

Early Red Flags

In November 2019, customers noticed something was wrong when the ezBtc.ca website stopped working and they were unable to make any transactions or withdraw any funds. They were led to think that their funds were being stored offline, in “cold storage,” safely under ezBtc’s watchful eye.

The BCSC has issued a summons to ezBtc, instructing the business to attend at its offices on June 27 ahead of any planned hearing. That is if the company wants its side of the story to be heard. The authority claims that ezBtc has committed securities fraud since the contracts it offers to clients are technically futures contracts, which are classified as securities. These accusations, however, have not been proved in a court of law.

Tough Times for Crypto

Even as the cryptocurrency industry reels from the collapses of FTX Trading Ltd. and Celsius Network LLC, it seems that crypto fraud is on the rise. Doug Muir, director of enforcement at the British Columbia Securities Commission, has seen many instances like ezBtc as Canadian regulators crack down on cryptocurrency services.

For crypto users on such platforms, this calls for even more diligence. If you are thinking about getting involved in cryptocurrency, it is imperative that you do your research and comprehend how the industry functions before you do so. In case something seems to be too good to be true, then there is a strong chance that it is not what it claims to be.

Could Rollbit Have Been Operating with a Valid License?

Posted on April 2, 2023April 2, 2023 by Laura P.

Recent events surrounding Rollbit, a popular business in the online gambling market, have left the crypto community baffled. The accusations made against the crypto-focused gaming operator are quite weighty and might have far-reaching effects on the company’s credibility.

Inaccurate or Vague Licensing Info

The allegations that Rollbit is running its business without a legitimate license are at the forefront of the discussion. Rollbit, on the other hand, claims that the yearly renewal of their license is a typical procedure for Curaçao-licensed platforms and is now underway. It also claims that since its launch, it has undergone an annual renewal procedure designed to ensure it meets the requirements of a legitimate casino.

Critics, however, have cast doubt about Rollbit despite these assurances. There were discrepancies between what Rollbit claimed and what could be verified about Curaçao gambling licenses. For instance, the online casino software provider and aggregator Slotegrator claims that as long as the master license is still active after five years, Curaçao’s sub-licenses are good forever. Rollbit’s assertion that they must renew their license every year is therefore inaccurate.

An exchange between crypto and finance researcher FatMan and Rollbit’s support staff just adds gasoline to the fire of mistrust about Rollbit’s license status. At first, Rollbit blamed the lack of licensing information on a “UI issue.” FatMan speculated that the regulator’s displeasure was due to one of Rollbit’s new games, which raises even more concerns about the company’s methods.

Even More Problems

In addition to the licensing controversy, new reports have surfaced about the operator. Several people have complained that Rollbit is unethical since it gives influencers fake balances. In this claimed strategy, influencers utilize free money to demonstrate large wins, perhaps attracting their followers into gambling through affiliate links. Many people believe that this approach is unethical since it takes advantage of unwary players while at the same time providing the casino with risk-free revenue.

In a statement released in response to the situation, Rollbit said it was in constant contact with the licensee and had made some small adjustments to the app’s user interface per the licensor’s suggestions. Despite the company’s best efforts, they have not been able to allay the crypto community’s fears.

The crypto community has demanded Rollbit provide additional information to shed light on the matter, and some have even called for the firm to be shut down. The issue highlights the significance of openness and compliance with regulations in the online gaming industry. While the final resolution of this debate is still up in the air, Rollbit has more ground to cover before it can win back the confidence of the crypto community.

Snoop Dogg Partners with Roobet and Becomes Chief Ganjaroo

Posted on March 2, 2023 by Laura P.

Snoop Dogg, music artist and entrepreneur, has been named Chief Ganjaroo at Roobet and is working with the startup and its parent company, Raw Entertainment, to change the face of online entertainment forever. Together, Snoop’s unprecedented worldwide reach and deep industry knowledge, and Roobet’s cutting-edge technology and enthusiasm for the crypto frontier will provide a gaming experience unlike any other.

The online entertainment business is set for a major shakeup as a result of this revolutionary partnership. The partnership is Snoop’s newest foray into the web3 area, although he is already a well-known metaverse enthusiast and avid collector of digital real estate.

“These guys are doing something different. This partnership just feels natural, and we’re going to blaze a trail for the future of online entertainment. I been sayin’ Roooooo for a long time now – they bring the ultimate player experience, we share the love of doing new things, and we care about our fans – so together we’re gonna change the game and do it better than it’s ever been done,” Snoop Dogg expressed his excitement about the partnership.

Co-founder of Roobet Matt Duea agreed with Snoop, adding that the company’s goal from the start was to expand the possibilities of what a gaming brand might be and that Snoop is a true visionary. Together, they are ready to bring about a genuine change in the way that entertainment is experienced online.

Everything that matters to them is making sure their community has access to the best online casino experience possible. The company’s prospects for the future of digital entertainment are looking better than ever now that Snoop is on board.

Lots of Goodies

Roobet and Snoop are preparing several exciting community-wide events to mark the beginning of their collaboration. They’re holding a raffle for $100,000 in cash and prizes including meet-and-greets with Snoop Dogg, backstage access to one of his concerts, special deals for new users, and more. Those who meet the requirements may sign up by going to roobet.com or the soon-to-be-launched roobet.fun website.

With over 3,300+ games from world-class iGaming studios and a fully-featured Sportsbook, Roobet provides a next-generation entertainment experience on an innovative and secure platform accessible to eligible gamers worldwide. What started as a niche casino for crypto enthusiasts has hit the mainstream, with over 3 billion wagers abroad. With over 300M views on TikTok, Roobet is a casino “for the internet, by the internet.” More details on the platform will be made available in the coming weeks.

Stake.com Takes the Wheel as Title Partner for Alfa Romeo Racing

Posted on February 2, 2023February 1, 2023 by Laura P.

We are ushering in yet another exciting new chapter in the realm of crypto-related online gaming and betting! The Alfa Romeo F1 Racing Team has officially announced that the industry-leading service provider Stake.com would take over as the team’s title sponsor. That said, the name of the team will change to “Alfa Romeo F1 Team Stake” effective immediately.

Stake has been putting in a lot of effort to enhance its visibility on a worldwide scale, and its relationship with Alfa Romeo F1 Team Stake is the most recent step on that road. The crypto gaming company has previously sponsored campaigns for teams competing in the Premier League football competition, fighters competing in the UFC, and even celebrities.

The Terms

Stake will provide a variety of exciting events and experiences for F1 fans from across the globe as part of this historic relationship. According to Alessandro Alunni Bravi, a team spokesperson, the addition of Stake as a co-title partner represents a new beginning for both businesses.

Because of the current growth in popularity of Formula One, it should come as no surprise that firms like Stake are ready to get on board and take advantage of the tremendous exposure that the sport produces.

A Potential Way Forward for Cryptocurrency Funding?

It is worth noting that the word “crypto” was left out of Alfa’s press announcement, which is an intriguing topic to consider. Stake may be different from other platforms in that it functions as a cryptocurrency casino. This is even more intriguing considering Stake.com’s headquarters are in Australia, a country that has strict regulations on online casinos and gambling. The company has also been under quite a bit of scrutiny.

Even though Alfa Romeo was not the very first team to accept crypto investment, the fact that they have done so puts them well ahead of the competition. Though it does come at a time when some F1 teams are cutting ties with their crypto sponsors.

Other teams including Mercedes and Ferrari, have parted ways with their corporate sponsors in the face of financial difficulties and plummeting stock prices. Despite these obstacles, Alfa Romeo is moving on with Stake as its sponsor.

All in all, there is plenty that the bitcoin industry has to gain from this partnership. Although it may be sometime before the full potential is realized, we are making progress, and this is a major first step in the right direction. If the bitcoin industry follows the right regulatory procedures, it will continue to thrive and grow in the next years.

Predictions for Crypto Gambling in 2023

Posted on January 2, 2023 by Laura P.

Making accurate forecasts is still a complex and sometimes futile exercise. A change in rhythm from the booming years of 2020 and 2021 for the gaming industry was unexpected in 2022. As far as gaming happenings go, it was perhaps one of the most shocking.

Our experiences throughout the pandemic have left us with a perspective on the future that is equal parts pessimistic and optimistic. Nevertheless, because of the interconnected nature of factors like governmental restrictions, technological advancements, and market trends, it remains hard to make accurate predictions about the future of online gambling.

Once you add the murky world of cryptocurrency gambling to the mix, things get even more complicated. But with this information at hand, we can at least attempt to draw a rough outline of our expectations for the sector.

Potential developments in 2023 could include:

More expansion. – Over the last few years, crypto gaming has seen explosive development, and this upward trend is expected to continue in 2023 as more people get aware of cryptocurrency and as technology continues to advance.

Regulatory developments. – There has been a rise in the number of nations enacting stricter laws regarding online gambling, including that which involves the use of cryptocurrency. Possible steps include tightening up on licensing standards, strengthening player safeguards, and increasing security.

New and exciting platforms. – There will certainly be additional crypto-gambling platforms developed to suit the rising demand for these kinds of games as the crypto-gambling business expands. Possible differentiating factors among these platforms include the availability of new features and developments.

Another Difficult Year for Crypto?

While the popularity of crypto gaming has increased dramatically over the last few years, it is no secret that cryptocurrency is very unpredictable. The development of the industry as a whole will unquestionably be affected by this.

Even as this turbulent year for cryptocurrencies comes to a close, industry insiders anticipate more trouble for crypto investors in 2023 due to the arrival of new problems and the persistence of residual worries. The aftermath of the “crypto winter” of 2022 is projected to reverberate strongly into 2023 and even 2024, and most crypto specialists do not see a bright future for the industry in the next year.

The outlook for 2023 is equally bleak, and the hope that cryptocurrency investment might be a “get rich quick” scheme evaporated in 2022. After a difficult year, few industry insiders are optimistic about a significant cryptocurrency rally happening anytime soon.

Betting on the 2022 World Cup with Cryptocurrencies

Posted on December 2, 2022December 1, 2022 by Laura P.

With the world’s biggest sports betting event taking place in Qatar over the next several weeks, the sector might see even more disruption.

The World Cup, like the Super Bowl or the Wimbledon final, is one of those exceptional athletic events that manages to pique the curiosity of people across the globe. It is hardly shocking that this is also a major development in the world of sports betting. For example, the astronomical sum of $133.7 billion was wagered on the 2018 World Cup, which was hosted in Russia.

In comparison to the about $6 billion bet on the most recent Super Bowl, the World Cup finals took in around $8.2 billion. According to analysts in the industry, the amount of money wagered on the Qatar 2022 games will most likely far exceed the amount wagered on Russia 2018.

Significant Four-Year Shift

Only a small fraction of the betting market in 2018 cared about the World Cup in terms of cryptocurrency use for the same. Additionally, most of the participants were early adopters and industry veterans in the cryptocurrency sector.

Much has changed in that segment of the gambling industry in the space of only four short years. Sports bettors and casino gamers alike are increasingly turning to digital currencies like Bitcoin and Ethereum for their wagering and gaming needs.

Additionally, the development of crypto-friendly online gaming platforms is being spurred by this need. Along with more conventional payment options like credit cards and e-wallets, more and more well-known firms are beginning to accept Bitcoin as payment.

Lots More to Look Forward To

However, the World Cup is not drawing attention to cryptocurrencies because of sports betting alone. Many prominent bitcoin companies are now sponsors, and this has drawn criticism. Because of the volatility of the bitcoin market in the last several years, this is to be anticipated.

Case in point, one large cryptocurrency exchange recently announced that it would no longer be continuing its nearly $500 million sponsorship of FIFA over five years. Furthermore, Everton fans have asked the club to sever connections with a prominent crypto-gambling firm that has sponsored the team.

While there are undoubtedly still some bumps on the road ahead, it’s heartening to see how far we’ve come. As general awareness of cryptocurrencies increases, even casual sports fans will learn to appreciate their many benefits. Fans may make wagers with ease thanks to our streamlined, safe, and user-friendly system among other benefits.

SOFTSWISS Casino Platform Debuts In-Game Currency Conversion

Posted on November 2, 2022 by Laura P.

In-game currency conversion, a much-requested function of the popular SOFTSWISS Casino, has finally been made available to users. Players may now change their cryptocurrency holdings into up to 9 different fiat currencies using the Casino Platform, an online casino management system.

A cryptocurrency-focused addition to video games, In-Game Currency Conversion made its official debut in the spring of 2022. The project’s goal was to provide customers with additional options for growth and to provide participants with greater leeway in how they played.

Both players and operators benefit from this integration since players may now wager on games that do not traditionally accept cryptocurrency and operators have access to SOFTSWISS’ whole library of games.

There was previously just one preset currency that crypto could be exchanged for before the upgrade. Extra fiat currencies (USD, EUR, AUD, RUB, CAD, NZD, NOK, JPY, and BRL) are now accessible for conversion in-game thanks to SOFTSWISS’s special features.

According to Darya Avtukhovich, Head of the SOFTSWISS Casino Platform, users previously could only exchange cryptocurrency for US dollars. The type of currency that could be spent restricted the games that could be played. The problem is that different games elicit different feelings and reactions from players.

That is why they included support for many currencies this time around. A wider range of games is now accessible to players who can convert their cryptocurrency assets into more traditional currencies.

Huge Step Forward

SOFTSWISS has taken a major step toward its big aspirations with the release of its new currency conversion tool.

As a result of the players and the diversity of operators fighting with one another to obtain their goods on this platform, the firm is creating solutions that are in accordance with market needs.

The corporation has thrived thanks to its ability to continually adjust to shifting consumer preferences. At the next SiGMA Europe expo in Valletta, Malta (November 14-18), it will showcase its cutting-edge technologies including the Casino Platform and its capabilities. Developers, operators, players, and the general public involved in iGaming will get the opportunity to learn about the company’s most recent innovations at this event.

These enhancements are all part of SOFTSWISS’ long-term plan to deepen its presence in existing markets while entering new ones and bolstering the breadth and depth of its product offering.

CryptoGames Races to Take on Fast-Paced Crypto Gambling Space

Posted on October 2, 2022September 30, 2022 by Laura P.

The crypto betting business is booming, but there’s always an opportunity for new entrants to increase competition and usher in new ideas. CryptoGames is gaining popularity as a trusted place to gamble online using crypto. Featuring state-of-the-art safety protocols and entertainment options, the casino caters to customers from all over the globe. It also offers the newest and greatest cryptographic implementations of traditional casino games, a delight for cryptocurrency consumers.

A major selling point is that gamers from all around the globe may enjoy the Curacao casino without leaving their homes. That means that players may use any modern mobile device to have free and unlimited access to the casino. The site also consistently promotes safe and fair crypto gaming alternatives for players of all skill levels.

A Well-Rounded Package

When it comes to financial systems and providing a level playing field for crypto aficionados, CryptoGames leverages cutting-edge technology to ensure both. The casino features a complete collection of classic games, all of which provide modern crypto gaming experiences. Blackjack, Keno, Roulette, the Lottery, and six more standard casino games are all featured inside the casino’s sleek design.

As a whole, the platform’s games are designed to be simple to play and understand to appeal to the largest possible number of casual gamblers. All ten games are simple to pick up and play, but each has its own flavor and its own set of rules for how bets are handled.

As a result, CryptoGames is now recognized as a platform that consistently exhibits its commitment to fair and responsible gaming, therefore ensuring that all players may enjoy themselves in a risk-free environment. The 10 games all have distinct goals and features, so they are up to par with today’s requirements for video games.

After registering for an account, gamers may use their Play Money to try out nine different games at no cost.

A Solid Payment System

For a company like CryptoGames, which operates in the cryptocurrency industry, having a reliable payment system is essential. There are ten different cryptocurrencies available for use in the country’s financial system, which may be used for everything from transaction processing to playing games.

Even better, either fiat currency or cryptocurrency may be easily deposited into the system. Credit cards and an advanced monetary exchange system may also be used to make deposits and make trades.

Exchanges between other cryptocurrencies are also supported in CryptoGames, with the help of reliable aggregators. The casino also maintains an open and accessible list of services on its website, including things like the casino’s safety and privacy regulations, as well as its promotions, bonuses, and affiliate programs. Players who sign up for a free account at Play Money get instant access to the site’s rewarding system.

BetCoco Brings Crypto Gambling Option to Canada and Brazil

Posted on September 2, 2022September 1, 2022 by Laura P.

BetCoco, a fast-rising online casino brand owned by the investment firm Crystal Wealth Group, made its debut last month to serve the lucrative cryptocurrency betting markets in Brazil and Canada. The gaming website allows users to gamble on casino games, live casino games, sports, and esports.

To spice up the experience, it even has VR rooms where users can get an immersive feel for games like blackjack, roulette, and live sports. The quality of its products and services is unparalleled in the markets in question. On top of that, the upgrades safeguard the company’s success in the foreseeable future.

First of Many

Founded in 2022, Crystal Wealth Group plans to launch “several” companies over the following decade, with BetCoco being the first. The team’s goal is to design a user interface that provides greater excitement for consumers. They feel that this is something that many iGaming companies have neglected to emphasize in their brand campaigns in recent years.

Furthermore, the operator stated its intention to provide numerous forms of player rewards. Among them were things like loyalty points redeemable for unique prizes, added incentives, and invitation-only offers and tournaments.

“BetCoco is a fun brand that offers a fabulous player experience with the leading games and services that the industry has to offer. Innovation is at the foundation of everything we do through creating the best features to continuously improve our user experience. We are launching with crypto, with fiat soon to follow, and are deploying exciting paid media marketing and affiliate campaigns to let the markets know about us.”
~ Mike Fox, Chief Financial Officer of Crystal WG

Crystal Wealth has hired Nick McCleggish, Digital Fuel’s Director of Group Accounts, as an adviser to BetCoco. In this partnership, Digital Fuel’s digital expertise and Crystal Wealth’s regional expertise in Latin America complement one another. It fits well with what they need to help their joint proposal grow and provide the best possible service to their global client base under the BetCoco Casino brand. That’s why the two of them are so well-suited to one other.

More Expansion Plans

Crystal Wealth’s long-term strategy is predicated on collaborating with the finest service providers in the business to develop a robust core iGaming platform that will serve as the foundation for introducing several brands to different geographic regions. They see BetCoco as their entry point into the potentially lucrative global sector, which is projected to grow to USD 154 billion by 2030.

The Rise of Big League Crypto Sports Betting

Posted on August 2, 2022August 2, 2022 by Martin S.

Even though there has been a significant slump in the value of cryptocurrencies over the course of the last few months, U.S. sports bettors are slowly but surely coming around to the idea of using digital currencies for betting purposes. As virtual currencies grow more prevalent in daily life, proponents of the change contend that it will be a key tool in keeping bettors away from the offshore market.

Many well-known sports betting organizations have recently started accepting bitcoin deposits into their users’ gaming accounts. An important element of this procedure is played by third-party payment providers.

Lots to Offer

Sports bettors will appreciate cryptocurrency’s numerous advantages over traditional forms of payment. To begin with, it has an exceptionally high level of security making it very tough to crack. It is essential for operators to ensure that this is the case so that your wagers are protected from any kind of manipulation. Bitcoin and other cryptocurrencies are also decentralized, which means they are not governed by a single entity. This makes it almost hard for anybody to take advantage of the system.

Last but not least, using cryptocurrencies is remarkably quick and affordable. It has very cheap costs and allows for almost instantaneous transaction completion. As a result, it’s an ideal choice for individuals who wish to gamble on sports without having to worry about transaction costs.

Dealing With the Concerns

Even though cryptocurrency is still in its infancy, there are already several compelling arguments suggesting that placing bets on sporting events using bitcoin might be the wave of the future. Cryptocurrency has the potential to completely change the online sports betting industry with its speedier transfers, reduced costs, and increased anonymity.

There have, of course, been some concerns. Thankfully, these are being addressed in different ways.

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