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Jailed crypto scammers blew stolen funds on shark tank, hookers: Report
24.10.2024
The fraudsters stole $21.6 million from over 40,000 investors to fund their lavish lifestyle, which also reportedly included $100,000 spent on sex workers
FBI token: How the FBI used a fake AI fund coin to nab fraudsters
11.10.2024
The FBI’s 'NexFundAI' coin was used to catch alleged market manipulators, but the crypto community may have confused it with another coin
Fraudsters Impersonate Ripple’s Brad Garlinghouse in Latest XRP Airdrop Scam
24.9.2024
A new XRP airdrop scam has been circulating on social media, primarily on X. Scam artists are sharing…
Ethereum-themed Scam Targets South Korean Crypto Community
22.5.2024
Fraudsters are targetting South Korean crypto users with an Ethereum-themed scam, token holders in the country said on May 21.
The post Ethereum-themed Scam Targets South Korean Crypto Community appeared first on Cryptonews
Fraudsters Partially Drain Assets from Crypto Investment Firm BlockTower’s Main Hedge Fund
15.5.2024
Digital asset investment firm BlockTower Capital faces a major setback after fraudsters compromised its main hedge fund. Bloomberg reported that the stolen funds remain unrecovered, and the hackers haven't been caught yet.
The post Fraudsters Partially Drain Assets from Crypto Investment Firm...
Ruling In SBF Case Is A Warning To Others, U.S. Attorney Says
28.3.2024
FTX founder Sam Bankman-Fried’s 25-year prison sentence will send “an important message” to potential fraudsters everywhere, U.S. Attorney Damian Williams wrote following his sentencing. Based on the ruling, Bankman-Fried will not be out of prison until his late 50s.
The post Ruling In SBF Case...
South Korean Police Capture Fraudsters Who Stole $4.1 Million in Crypto Investment Scam
26.3.2024
The Haeundae Police Station in Busan, South Korea, has caught a pair of fraudsters who stole $4.1 million from a senior citizen with the promise of profitable crypto investments.
The post South Korean Police Capture Fraudsters Who Stole $4.1 Million in Crypto Investment Scam appeared first...
South Korean ‘Crypto Fraudsters’ ‘Duped Financier Out of $4.1m’
26.3.2024
Suspected South Korean crypto fraudsters allegedly fooled a wealthy financier into parting with over $4.1 million, the nation’s police force said on March 25.
The post South Korean ‘Crypto Fraudsters’ ‘Duped Financier Out of $4.1m’ appeared first on Cryptonews
Crypto Price Surge Could Attract Fraudsters: Thai Digital Asset Association
18.3.2024
Despite the crypto price increase, the cost of carrying out a theft remain unchanged, attracting fraudsters.
The post Crypto Price Surge Could Attract Fraudsters: Thai Digital Asset Association appeared first on Cryptonews
Wirex CEO Says Money Mules Are a Massive Issue in FinTech and Crypto
9.2.2024
In an insightful interview with Cryptonews, Pavel Matveev, CEO and co-founder of popular global digital payment platform Wirex, discussed what money mules are and how big of a problem they pose in the crypto and FinTech industries. The short answer is: big. He further told us how these fraudsters...
Estonia Renews U.S. Extradition of Crypto Businessmen Accused of $575 Million Ponzi Scheme: Report
26.1.2024
The Estonian government has decided to renew the United States extradition of two alleged fraudsters accused of running a $575 million scheme, Estonian Public Broadcasting reports. “Justified in accordance with the rule of law” The extradition’s approval reverses an earlier decision made by...
Scammers Use Meme Coin Mania to Defraud 42,000 Victims and Amass $32 Million: Blockfence
22.1.2024
A group of fraudsters has managed to deceive over 42,000 victims, accumulating a staggering $32 million in a series of crypto scams that began in April 2023. What makes this scam unique is the use of a method that even fooled some of the industry’s renowned “rug pull detectors,”...
EU Provisional Agreement: Crypto Asset Service Providers Added to Obliged Entities List
19.1.2024
As per the provisional agreement struck between the European Union Council and Parliament, crypto asset service providers will be obliged to verify facts and information on users whose transactions exceed $1,090. According to the Belgian Finance Minister, the new requirements will “ensure...
USDT at the Heart of Pig Butchering Scams Says the UN
16.1.2024
The stablecoin tether has emerged as one of the preferred payment methods for money launderers and fraudsters operating out of Southeast Asia, the findings of a new United Nations study have shown. According to Jeremy Douglas, criminals are choosing to use tether because they know that...
UN Report Highlights Tether’s Rising Role in Money Laundering Across Southeast Asia
15.1.2024
In a recent report released by the United Nations Office on Drugs and Crime, Tether, one of the world’s largest stablecoin Tether, has been identified as a prominent tool employed by money launderers and fraudsters operating in Southeast Asia. The report sheds light on the increasing use...
OneCoin Crypto Scam: German Court Sentences Fraudsters to Jail
10.1.2024
Source: Svetoslav Radkov/Adobe Founders of the infamous OneCoin cryptocurrency scam have been sentenced to several years in jail by a German court. A German court in Münster on Monday handed down sentences to key accomplices involved in the OneCoin crypto fraud case. The couple Frank Ricketts...
Senate Coalition Grows to Crack Down on Crypto’s Use in Illicit Finance
13.12.2023
U.S. Senator Elizabeth Warren’s bill to crack down on crypto’s use in illicit finance has gained more support among lawmakers. “The Treasury Department is making clear that we need new laws to crack down on crypto’s use in enabling terrorist groups, rogue nations, drug lords...
Wall Street Memes Launch Discord Hack Relief Fund to Compensate Victims of October Cyber Attack
23.11.2023
Friday, November 10, 2023 – Today the team at Wall Street Memes airdropped funds from its Discord Hack Relief Fund to compensate community members who fell victim to fraudsters who briefly took over the WSM Discord server. All compensation claims submitted by November 17 will have the funds...
DOJ Announces Aeizure of $9 Million of Tether Tied to ‘Pig Butchering’ Scams
21.11.2023
On Tuesday morning, the U.S. Department of Justice announced the seizure of nearly $9 million worth of Tether linked to “pig butchering” scams that exploited over 70 victims. How the fraudsters did it Originating in Southeast Asia, “pig butchering” is a practice conducted by perpetrators who prey...
Lloyds Bank Issues ‘Urgent Warning’ on Rising Threat of Crypto Scams
16.11.2023
Lloyds Bank, a major retail and commercial bank in the U.K., has issued an “urgent warning” about the growing threat of cryptocurrency scams. “Crypto is a highly risky asset class and remains largely unregulated, which makes it an attractive area for fraudsters to exploit....