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Full list of Israeli startup M&As in 2023
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Blockchain unicorn Fireblocks acquires Australian tokenization startup BlockFold
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Fraud
20 stories about Fraud
Vesttoo: “At a minimum, it appears that procedures were circumvented”
26.07.23
|
CTech
The Israeli insurtech company, embroiled in a scandal after alleged fraud took place on its platform, broke its silence
Vesttoo scandal aftershocks still rocking insurance sector
25.07.23
|
Meir Orbach
Clear Blue Insurance Group is among those to have been affected by the alleged fraud that took place on the Israeli startup’s platform
Vesttoo’s top legal and financial executives leave the company amid alleged fraud scandal
19.07.23
|
Meir Orbach
The Chief Financial Officer, Chief Commercial Officer, Interim Chief Legal Officer, and Deputy Chief Legal Officer have all departed the startup embroiled in a fraudulent collateral crisis
Vesttoo investigation reveals $4 billion fraud involving fake letters of credit
19.07.23
|
Meir Orbach, Tomer Ganon, Almog Azar
Most of the allegedly forged letters were from a leading Chinese bank, which appears to have been unaware of the situation
Fintech unicorn Vesttoo faces alleged billion-dollar fraud scandal
17.07.23
|
Meir Orbach
Following an initial inspection conducted over the weekend, it was discovered that the billions of dollars in collateral presented by the company were fraudulent
Nurturing trust: The vital pillar between investors and startup founders
17.07.23
|
Adi Gozes
“When investors and founders trust one another, it lays the groundwork for effective decision-making and the ability to weather challenges together,” writes Adi Gozes of Entrée Capital
Crash and burn: Celsius founder Alex Mashinsky arrested, charged with multibillion-dollar fraud
13.07.23
|
Reuters and CTech
The former CEO of the bankrupt cryptocurrency lender was charged with seven criminal counts - including securities fraud, commodities fraud and wire fraud - while Celsius' former chief revenue officer, Roni Cohen-Pavon, was charged with four criminal counts
Joonko fraud: 5 warning signs for entrepreneurs and investors
05.07.23
|
Moran Chamsi
Although one rotten apple is unlikely to ruin the entire bowl, the exposure of fraud at startup Joonko in recent days raises suspicions about the prevalence of invalid norms throughout the entire Israeli high-tech industry. Here are five valuable lessons that can be learned from this incident
How did the CEO of Insight Partners-backed startup Joonko raise $38 million with false figures?
27.06.23
|
Meir Orbach
Ilit Raz is being accused by the board of having “engaged in egregious, unethical and fraudulent conduct” after an investigation found that she allegedly misled investors regarding the company’s actual number of paying customers
$400 million lawsuit reveals how Eytan Stibbe allegedly scammed his ex-partners in Africa
07.02.23
|
Amir Kurz
Ami Lustig & Roy Ben Yami, who together with Stibbe founded the LR Group, which operated in Angola, claim Stibbe took over the company's assets worth hundreds of millions of dollars through “a series of fraudulent acts”
Crypto lender Celsius sued for being a Ponzi scheme
08.07.22
|
Reuters and CTech
A former investment manager at the ailing American-Israeli cryptocurrency platform claims it used customer deposits to rig the price of its own crypto token and failed to properly hedge risk
Five detained in $35 million international fraud case
20.06.22
|
Amir Kurz
Police arrested 5 people suspected of stinging prominent figures in the high-tech and venture capital industries and former military officers. Among the detainees is the son of a former IDF Chief of Staff
nSure.ai raises $13 million for fraud prevention platform
02.03.22
|
Meir Orbach
The Israeli startup claims that its fraud protection intelligence reduces decline rates by 90%, using merchant-specific data to approve up to 98% of transactions
BioCatch promotes Eyran Blumberg to Chief Operating Officer
02.03.22
|
CTech
Blumberg previously served as Vice President of Solutions at BioCatch and replaces Gadi Mazor after he was promoted to CEO
Crypto entrepreneur Moshe Hogeg arrested on fraud, sexual offences charges
18.11.21
|
CTech
Hogeg, founder of blockchain companies Sirin Labs and Stox and the owner of soccer club Beitar Jerusalem, is suspected to have defrauded investors of tens of millions of dollars and is also facing charges for sexual offences
Facing the challenge of fraud and money laundering head-on
05.10.21
|
CTech
In a world where all our finances are managed online, there are numerous elements trying to take advantage of this situation to engage in financial crime. Two Israeli companies – NICE Actimize and ThetaRay – are striving, with Innovation Authority support, to identify fraud and prevent money laundering
The Forex Fraud: A wolf or a scapegoat?
22.08.21
|
Amir Kurtz
Gal Barak from Herzliya was convicted in Austria for taking millions of Euros from European retirees. So why does the man nicknamed “the wolf of Sofia” insist he is only a fall guy?
Riskified to hit NYSE at $3.3 billion valuation
29.07.21
|
Sophie Shulman
Israeli fraud management platform raised higher-than-expected $368 million in IPO thanks to high demand
ActiveFence announces arrival with $100 million in funding at over $500 million valuation
27.07.21
|
Meir Orbach
The Israeli startup’s technology identifies and tracks malicious activities online, protecting against violent extremism, disinformation, child sexual abuse, fraud, and other harms of the internet
nSure.ai raises $6.8 million in Seed to develop AI fraud prevention for digital goods space
14.06.21
|
Meir Orbach
The funds will go towards further developing the Israeli startup’s predictive AI and machine learning algorithms that have reduced decline rates from an industry standard of 20% to only 2%
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