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Lloyds Bank: UK Sees 23% Increase in Cryptocurrency Scam Reports
14.11.2023
Source: AdobeStock / JeromeMaurice Lloyds Bank, a big four bank in the United Kingdom, reports that crypto scams have risen 23% compared to the same period last year. The firm warned that fraudsters are targeting young people over social media, with victims losing an average of £10,741 ($13,183.72)...
Gary Gensler: Crypto Frauds Extend Beyond a Single Case
9.11.2023
Image Source: CNBC Gary Gensler, Chair of the Securities and Exchange Commission (SEC), has issued a warning about the prevalence of fraud in crypto, stating that there are multiple “notorious fraudsters” operating in the space. Gensler’s comments come on the heels of the criminal...
South Korean Police Shut Down ‘International Crypto Fraud’ Ring, Freeze $1.2m
8.11.2023
Source: Maksim Shmeljov/Adobe South Korean police have swooped on a group of suspected “international” crypto fraudsters, freezing over $12 million and arresting 49. Newsis reported that the Cyber Investigation Department of the Seoul Metropolitan Police Agency has “arrested a total of 49 people...
Fake Wallet APP Downloads and Malicious Backdoors are Leading Causes of Crypto Loss: Bitrace
30.10.2023
One of the leading causes of loss of crypto assets is the download of fake wallet applications from search engines. Fraudsters take advantage of search engine optimization (SEO) and search engine marketing (SEM) techniques to promote phishing links that lead to counterfeit wallet apps with...
Mexican Billionaire Advocates Bitcoin for Wealth Protection — ‘People Need to Realize They’re Being Robbed’
24.10.2023
Mexican billionaire Ricardo Salinas sees bitcoin as a way to protect against inflation tax because the cryptocurrency cannot be debased. “People’s savings are being taken from them without their permission, without their knowledge,” he stressed, adding that “everybody...
Banking Scams Overtake Crypto Frauds in Ireland
16.10.2023
Fraudsters targeting victims in Ireland are increasingly posing as bank officials rather than crypto promoters, the local press reported quoting police. Amid the growing trend, Irish investors have lost millions of euros to this type of schemes this year, with law enforcement authorities having...
Royal Thai Police Retrieves $277 Million From Fraudsters With Binance’s Help
3.10.2023
The Cyber Crime Investigation Bureau (CCIB), an arm of the Royal Thai Police, has announced the successful retrieval of $277 million (about 10 billion THB in local currency) in digital funds from internet fraudsters, all thanks to its collaboration with the Binance exchange. ...
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Hungarian Authorities Seize Crypto Worth $1M in Tax Fraud Case
23.9.2023
Hungarian authorities have seized cryptocurrency worth over $1 million from a criminal organization in a value-added tax (VAT) fraud case. The authorities raided 28 locations, arrested three suspects, and seized various assets tied to the group. The seized cryptocurrencies were transferred to...
US Court Orders Collapsed BTC Investment Firm to Pay Over $1.7 Billion in Restitution for Forex Fraud
9.9.2023
A United States Federal Court Judge has ordered the collapsed bitcoin investment platform Mirror Trading International to pay over $1.7 billion in restitution. Commodity Futures Trading Commission director of enforcement Ian McGinley said the CFTC will not hesitate to go after fraudsters who target...
Thailand Threatens Facebook With Shutdown Over Crypto Scams
23.8.2023
The government in Bangkok will try to shut down Facebook in Thailand alleging the social media network isn’t doing enough to stop scams. Fraudsters have been luring users to invest in fake companies and cryptocurrencies, authorities said, and the number of complaints has been mounting. Meta...
Brazilian Police to Freeze Suspected Fraudsters’ Crypto Holdings
23.8.2023
Brazilian police have asked courts to freeze the crypto holdings of suspected electronics-trading fraudsters as part of a “mega operation.”
The Brazilian media outlet Livecoins reported that officers took part in an operation codenamed Spin-Off.
The operation involves the Federal Police and...
Brazilian Police to Auction Assets Seized from Suspected Crypto Fraudsters
11.7.2023
Police in Brazil have announced plans to auction off assets seized from Trust Investing, a suspected crypto-themed financial pyramid operator.
Per the media outlet Portal do Bitcoin, a Federal Court in Campo Grande granted the authorities the right to auction off “seven luxury cars,” including...
Brazil: Suspected Braiscompany Crypto Fraudsters Detained in Argentina
27.6.2023
Three suspected Brazilian crypto fraudsters have been detained while trying to flee to Argentina – as police continue to probe the troubled Braiscompany.
In March, a number of suspected employees were filmed apparently emptying the firm’s São Paulo premises under cover of night.
In May, police...
Gary Gensler: Crypto market is like 1920s stock market, full of 'fraudsters'
8.6.2023
Gensler argued that securities laws helped prevent stock market scams once they were passed in the 1930s and can benefit the crypto market of today
Uniswap scam alert: Fraudsters impersonate executives and create fake website
3.6.2023
Uniswap and its foundation have no association with the scam as efforts are being made to combat it
Spike in Crypto Scams Targeting Young Korean Women – Here’s How Fraudsters Strike
29.5.2023
There has been a spike in South Korean crypto scams that target young women on social media platforms, a new study has revealed.
Per iNews24 and Hanguk Kyungjae, the study revealed that 71% of “romance scam victims” ensnared via social media in 2022 were women.
The vast majority of these women...
To catch a scammer: Kraken builds fake crypto account to ‘bait’ fraudsters
11.5.2023
A call-center scammer impersonating President Joe Biden attempted to steal what they thought was $450,000 worth of Bitcoin from a streamer — instead, chaos ensued
UK government targets fraudsters with new ban on cold calls for crypto
3.5.2023
The U.K. government plans to introduce laws to reimburse victims of authorized crypto fraud and work with Ofcom to prevent phone number "spoofing."
Elon Musking, Paxful Closing, Banks Cryptoing, Fraudsters Scamming and 20 Crypto Jokes
8.4.2023
Read More: Elon Musking, Paxful Closing, Banks Cryptoing, Fraudsters Scamming and 20 Crypto Jokes
Ukraine Dismantles $40 Million Russian Crypto Pyramid
6.4.2023
Ukrainian law enforcement has exposed a financial pyramid originating from Russia suspected of making millions of U.S. dollars. The scam convinced victims to send fiat money and cryptocurrency by promising profitable investments in big companies around the world. Large Crypto Pyramid Scheme With...