With the growing popularity and adoption of cryptocurrencies, scams and thefts have surged significantly, affecting individuals. In a recent development, a Mexican media outlet reported that more than 2950 people have been victimized by an alleged crypto trading bot-themed scam. This is not the first time this reported scam has come into the spotlight after…
South Korean authorities have arrested 215 individuals in connection with a massive cryptocurrency investment scam worth an estimated 325.6 billion won – around $232 million. The arrests, led by the Anti-Corruption and Economic Crime Investigation Unit of the Gyeonggi Southern Provincial Police, involve employees of a fraudulent investment consulting firm and its founder, who happens…
Authorities in Grant County, Indiana, have recovered $36,000 in a cryptocurrency scam involving Prateek Jain, a 33-year-old man from Kolkata, India. Jain faces charges of felony fraud and money laundering after allegedly convincing a Marion, Indiana resident to deposit funds into a bitcoin ATM as part of the scam. The case, initially reported to the…
South Korean police arrested 215 individuals involved in a $232 million crypto fraud. The scheme was led by a popular YouTuber with 620,000 followers, promoting high returns. South Korean police have apprehended 215 individuals tied to a large-scale cryptocurrency investment scam, responsible for defrauding over 15,000 people and causing losses of 325.6 billion won ($232…
November 13, 2024 at 06:48 PM GST updated: November 13, 2024 at 05:59 PM 2 mins read News A fake Zoom link scam cost a $GIGA holder $6.09M, triggering a sell-off and sparking debate over security risks in crypto. Hackers drained three wallets, using malware to access $GIGA tokens. This has raised serious concerns about…
A Pennsylvania State Police unit is advising the public of a new bitcoin scam targeting vulnerable individuals, particularly seniors. Scammers contact them through email, phone, or other electronic means, claiming there’s a fraudulent activity involving their personal information. Posing as representatives of the victim’s financial institution, these scammers then direct victims to contact a supposed…
Scammers have been targeting crypto enthusiasts and investors on the verge; in a recent development, the Gyeonggi Southern enforcement agency has tracked down and detained a group of fake digital asset scammers. As per Hankyoreh, a South Korean newspaper, a scammer trying to defraud an official of the Gyeonggi Southern Provincial Police Agency’s Mobile Criminal…
As cryptocurrencies and digital assets gain popularity worldwide, scams, frauds, and illicit activities have been rising rapidly alongside them. In a most recent development, the Federal Bureau of Investigation has succeeded in recovering millions of dollars in crypto lost by investors in a crypto embezzlement case. Associated Press, a known news agency, reported that the…
The growing pace of illicit and fraud in the cryptocurrency market has invited enforcement regulators globally. In the most recent developments, the United States Justice Department has announced a joint crackdown over Redline and Meta infostealer malicious applications that have stolen the sensitive information of millions of users globally. The DOJ has joined hands with…
Unethical hackers have been troubling the broader finance market for the past few years but their crackdowns on the crypto market have specifically surged in the past 2 – 3 years. The tricks and processes followed by victim users have also evolved with the passing of time and nowadays poisoning crypto wallet scams is becoming…
Scam Sniffer has shared the phishing link to a reliable media source and it can be clearly seen that the domain suffix used by the phishing link was not the same as that of Soneium’s website. Phishing can take place while you are not paying much attention, also it can happen if you spell soneium…
From the beginning of 2024 till the third quarter of this year the broader cryptocurrency market has marked several milestones and simultaneously it has mirrored over 150 incidents losing more than $1.50 billion in a few months. Most recently bad actors targeted a DAO ( Decentralized Autonomous Organisation) using the social engineering technique resulting in…
A cryptocurrency scam targeting Coinbase users has resulted in a significant theft of over $20 million. An Indian national, Chirag Tomar, was sentenced for orchestrating this scheme, where fake websites mimicking Coinbase led to victims surrendering credentials. U.S. authorities revealed how fraudsters used advanced tactics, including remote desktop access and posing as support agents, to…
After the recent implementation of upgrades, Radiant Capital, a decentralized finance crypto lender, was breached on BNB Smart Chain for $50 million in cryptocurrencies. The information of the incident of the breach was first reported by Ancilia a Web3 security startup X post notes that “ We have noticed several transferFrom user’s account through the…
The nations with great peace of adoption are among the countries reporting the highest number of crimes and illegal activities related to cryptocurrencies. In terms of crypto adoption, India tops the list followed by the United States and others. As reported by a leading Finance news aggregator of India, the nation’s police and authorities have…
Sui token surged 120%, facing allegations of insider selling. Sui Foundation denied insider sales, attributing them to infrastructure partners. The Sui (SUI) token has seen a remarkable rally, gaining over 120% in the past month to trade at $2.25 as of October 14. This surge, while impressive, has stirred controversy, as allegations of insider selling…
Texas regulators have issued an emergency cease-and-desist order against two individuals accused of promoting a fraudulent cryptocurrency investment scheme. The alleged scheme, tied to Trage Technologies, promised high returns on digital asset arbitrage trading but is accused of misleading investors. Authorities claim the company falsely asserted SEC registration and used illegal multilevel marketing tactics, posing…
Two South Korean lawmakers have called for a full investigation into the KOK token after its value collapsed to almost zero. Victims have accused Korea’s largest newspaper of promoting the scam, sparking concerns about its role. The alleged cryptocurrency fraud has caused an estimated $3 billion in losses, affecting about 1.86 million investors worldwide. Korean…
The proactive attitude of the U.S. regulators has helped hundreds of victims recover their lost funds, including dismantling fraudulent schemes. On October 09, 2024, an announcement from the U.S. Attorney’s Office for the District of Massachusetts read that 18 individuals and entities have been charged over fraud and manipulation in the cryptocurrency market. Of the…
The Ohio Bureau of Criminal Investigation’s new Electronic Fraud Investigations unit has recovered $130,000 from a cryptocurrency scam in its first victory. The unit was established to address the growing complexity of cyber financial crimes, particularly those involving cryptocurrency. Ohio’s New Fraud Unit Recovers $130K From Crypto Scam Ohio Attorney General Dave Yost announced on…
Vietnamese authorities have reportedly dismantled a cross-border fraud ring involved in romance scams and fraudulent cryptocurrency schemes. Led by foreign criminals, the group operated from Laos and defrauded victims of tens of billions of dong. Key Vietnamese suspects, trained in digital deception, have been arrested for their roles in the scheme, which included using fake…
Lego’s website was hacked to display an unauthorized cryptocurrency ad promoting a fake “Lego coin.” The ad encouraged site visitors to purchase the fake crypto, promising them secret rewards and redirecting them to a suspicious external site selling “Lego tokens.” Lego’s Website Compromised by Cryptocurrency Scam Lego’s website experienced a security breach on Oct. 4…
Two cryptocurrency platforms face allegations of fraud by Washington State’s Department of Financial Institutions. Both companies allegedly lured investors with promises of huge returns, but later blocked withdrawals and demanded extra fees. An investor lost $64,000 to one platform after being asked for a “safety reserve” fee. The platforms are accused of exploiting social media…
Many consumer rights protection firms, cybersecurity firms, blockchain analysis firms, and other such firms have helped global regulators identify and dismantle fraudulent schemes and bogus crypto-based companies. According to recent information, the founder of IcomTech, a fraudulent “Ponzi,” has been jailed for 10 years by the court. IcomTech was founded by David Carmona, who is…
The United States is one of the leading hotspots for cryptocurrencies; the nation also has the highest number of headquarters of crypto-based companies. According to a regional media outlet, the FBI alleges ICHCoin is a scam luring innocent investors to invest further, resulting in financial damages to 1000+ U.S investors. Amanda Culver, the Assistant Special…
India is among the nations with the fastest cryptocurrency adoption and has topped the adoption list for 2 consecutive years. The number of users and crypto holdings continues to grow despite strict rules and regulations in this market. On October 04, 2024, it came into the media that 19 family members collectively looted two brothers…
The rate at which frauds and scams are being committed has grown significantly in the past few months; since the beginning of 2024, the cryptocurrency markets have lost over $1.2 billion in different types of scams, frauds and hacks. A recent information notes, the police department of Australia has seized more than $9 million in…
India’s Enforcement Directorate has exposed a massive $48 million scam linked to the online gaming app Fiewin, connected to Chinese nationals. Following an in-depth investigation, an equivalent of about $3 million has been frozen in accounts tied to these individuals. The scam lured users with quick earning schemes but blocked fund withdrawals. The investigation also…
The cryptocurrency market has tumbled at its verge since the beginning of 2024, with Bitcoin reaching its all-time high, awakening whale holders, and experiencing the unprecedented success of spot ETFs. An active whale’s movement has been tracked since the beginning of the year, stirring the market, including the trading price of leading cryptocurrencies. As per…
Google has been leading the Web2 world for the past several years, and now it is one of the biggest to offer the widest range of internet-related services. The Play Store by Google held several records by its side, a study by Statista notes that till June 2024, the Play Store had 16,82,635 applications available…
The advancement of technology has helped almost every individual in their well-being; however, some use technology to commit frauds, scams, and hacks to become rich in a short duration. Crypto scammers have developed dozens of techniques to lure victims, and P2P (peer-to-peer) has emerged as one of the most destructive among all other scamming methods. …
Staking platform Bedrock stated that their platform was affected by a bug involving uniBTC, where users were able to trade a uniBTC for an ETH token. Bedrock informed on September 27 through an X post that they are aware of the security breach and the problem is “addressed” by its team. They also comforted the…
The unstoppable growth of social media has become one of the most popular and cheapest ways to reach the masses, easily and bad actors are aware of this. Social media platforms like Instagram, Facebook, and Telegram are regarded as the key elements that helped digital assets reach more and more people. Most recently, bad actors…
Hong Kong is termed to have one of the fastest-evolving cryptocurrency markets in Asia, but crypto-based scams and frauds in the region mimic the surged pace. A regional media organization noted that around 13 investors lost HK$14.8 million after they processed their transactions by the shops in the Kowloon West area allegedly set up and…
Banana Gun will refund $3 million stolen from users after a Telegram bot exploit. The bots have been reactivated with enhanced security measures following a thorough investigation. In a recent post on X, Banana Gun announced plans to refund $3 million stolen from users affected by a Telegram bot exploit last week. The incident impacted…
The Federal Bureau of Investigation (FBI) Baltimore office has issued a warning about the increasing prevalence of cryptocurrency investment fraud in Maryland. Known as “pig butchering,” scammers trick victims into fake crypto investments, leading to massive financial losses. FBI Warns of Surge in Cryptocurrency Investment Scams in Maryland The Federal Bureau of Investigation (FBI) Baltimore…
Crypto exchanges Binance and Tokocrypto collaborated with Indonesian law enforcement to crack down on a crypto scam, seizing $200,000 in stolen assets. “During the investigation, multiple individuals involved in managing the accounts that received the stolen funds were arrested,” Binance stated. Binance and Tokocrypto Help Bust Major Crypto Fraud in Indonesia Crypto exchange Binance announced…
The United States Securities and Exchange Commission (SEC) has evolved as the leading regulator that gathered significant amounts of penalties from the cryptocurrency sector. A litigation released by the SEC on September 23, 2024 states that it has charged Anthem Holdings Co.; and its CEO over the charges of defrauding investors. The documents note that…
Brad Garlinghouse condemns scammers who hacked India’s Supreme Court’s YouTube channel to promote a fake XRP scheme. Ripple’s CEO emphasizes the potential of the XRP Ledger to revolutionize global payments with a faster, more efficient alternative to SWIFT. Brad Garlinghouse, Ripple’s CEO, has addressed a scam employing Ripple and XRP that revealed after hackers took…
The Youtube channel of India’s Supreme Court was compromised, promoting a scam involving XRP cryptocurrency instead of its usual live hearings. The breach temporarily shut down the channel, but services resumed later that day. Ripple CEO Brad Garlinghouse responded, condemning the exploitation of crypto users. XRP Scam Promoted on Supreme Court of India’s Youtube Channel…
The relationship between cryptocurrencies and the regulatory commission is becoming bitter and harsh day by day; in the past few years, the authorities penalized over 25+ crypto-based companies. In a recent verdict, Judge Vince Chhabria in the Northern District of California ordered Koo Ichioka to pay $36 million over cryptocurrency charges and forex fraud. The…
William Koo Ichioka has been ordered to pay over $36 million after admitting to a forex and digital asset fraud scheme. His scam, which started in 2018, involved falsifying financial documents and misusing investor funds for personal luxuries like cars and jewelry. In addition to financial penalties, Ichioka faces prison time. The Commodity Futures Trading…
Crypto exchange BingX suffers from a hack and more than $43 million were stolen from the platform. Such incidences like the BingX hack have shaken the entire crypto-currency market especially the exchanges and had raised question on the security of exchanges. The hack has been made known through on-chain data which gave an insight into…
Maryland State Police have warned of a scam targeting Gmail users, using phishing tactics to extort money through unsettling threats. Scammers are sending victims emails with Google Maps photos of their homes and demanding bitcoin payments, falsely claiming they possess incriminating evidence. The police are investigating, urging caution and providing resources for reporting these incidents….
The US Securities and Exchange Commission (SEC) has recently brought a litigative and legal response by filing legal charges against three persons and five enterprises involved in the cryptocurrency ‘pig butchering’ fraud. Pump and dump is a term used to describe a type of scams which feed on victims through a protracted process of misleading…
The U.S. Securities and Exchange Commission (SEC) has cracked down on two crypto investment scams, targeting platforms Nanobit and Coinw6. Involving fake relationships to deceive victims via social media, these schemes siphoned millions from unsuspecting investors. The charges mark the first SEC enforcement actions against such scams. SEC Targets Crypto Scams in Latest Enforcement Action…
Hillsborough and Campbell, California, residents have been alerted to a new email scam, according to local police departments. Scammers are sending emails containing personal details and photos of victims’ homes, threatening to release private information unless they pay $2,000 in bitcoin. The email warns recipients to pay “confidentiality charges” or risk having personal footage shared…
Flappy Bird, the popular mobile game from 2013, is back in the news again. This time it arose due to its association with a crypto scam that has been surprising gamers and investors at large. A once fun, highly addictive mobile game is now in the middle of a cryptocurrency fraud scandal. Flappy Bird: A…
The Federal Bureau of Investigation’s San Diego office has seized websites linked to three fraudulent cryptocurrency recovery services. The scam preys on victims of crypto fraud by promising recovery of lost funds, often charging significant fees without delivering results. The FBI advises the public to be cautious, avoid upfront payments, and verify any claims of…
The Federal Bureau of Investigation (FBI) has warned of a rising business email compromise (BEC) threat, responsible for $55 billion in global losses over a decade. The scam has affected all 50 U.S. states and 186 countries, with funds frequently routed through banks in the United Kingdom, Hong Kong, China, Mexico, and the United Arab…