Singapore Police warns investors about post-FTX phishing scams
Singaporean Police have warned that scammers are targeting investors still hurting from the losses brought on by the recent bankruptcy of cryptocurrency exchange FTX. According to local news outlet Channel News Asia, the authorities issued a warning to the public about a website that requests FTX users’ login information and purports to be housed by […]
Crypto scammers hack Trump’s campaign website
President Trump’s campaign website hacked by crypto scammers Hackers request donations in Monero President Trump’s campaign website was recently hacked by crypto scammers who used the opportunity to request donations in a privacy crypto asset, Monero. The hackers had the website under their control for half of an hour and disclosed that they had had […]
McAfee executive pleads not guilty to alleged crypto scam
TL;DR Breakdown Jimmy Gale Watson pleads not guilty to scam chares alongside McAfee. Pump and Dump among charges slammed against Jimmy Watson. Jimmy Gale Watson Jr an executive advisor of the McAfee team while in court pleaded not guilty to a suit charging him with being involved in crypto scams that duped investors of about […]
Instagrammer Jay Mazini allegedly defrauded followers of $2.5M in Bitcoin
TL;DR breakdown Instagrammer Jay Mazini has been jailed for allegedly defrauding his followers of $2.5 million in Bitcoin. The investigators noted that his philanthropic videos weren’t actually what it seemed to be. A popular Instagrammer, Jay Mazini, formally known as Jebara Igbara, is currently being detained for criminal offenses that include defrauding his followers of […]
UK police fail to see $3 million fraud as a crime
Lyfecoin scam costs $3 million Police dismiss case, cite insufficient evidence UK police have stirred controversy today after ruling that no crime was committed in an alleged case of fraud. Investors estimate that the scam has cost them approximately three million dollars. Last Tuesday, the British newspaper Metro published an expose about a cryptocurrency start-up […]
BREAKING NEWS: Polkadot scam currently underway – beware
Polkadot scam giveaway event presented to members of the Official Polkadot Telegram group Polkadot scam victims added to fake Polkadot Event Telegram group Scam giveaway informs victims they will receive three times the amount of DOT they send. DOT is currently priced at $4.12 per unit Polkadot scam currently underway – beware Currently underway, members […]
Hackers threaten to release Finland psychotherapy records for cryptocurrency
Hackers threaten to release psychotherapy records in Finland if cryptocurrency is not delivered. A Finland psychotherapy institution received threats from criminals for $584 worth of cryptocurrency within 48 hours. The consequence of not listening to the lawbreakers would be the release of medical records. Hackers threaten to release Finland psychotherapy records for cryptocurrency Hackers threaten […]
Bitcoin trading scam promoted on YouTube costs trader $700,000 in BTC
TL;DR Breakdown Bitcoin trading scams continue to occur, phishing traders with lucrative offers. A Bitcoin trader recently lost around $700,000 due to a scam promoted on YouTube. Naveed Saghir was fooled by a team of scammers pretending to be from an investment company. Bitcoin scams have become quite rampant and a major hurdle for Bitcoin […]
Second hack in one week: ThorChain suffers hack worth $8M
TL;DR Breakdown The exploitation of the ThorChain led to the loss of a whopping $8M. The details are yet to be revealed as the hackers haven’t been located or identified. Although the members guarantee increased scrutiny, it seems that protocol has security issues. ThorChain has been a favorite DeFi protocol for plenty of developers, but […]
Drug dealer charged with laundering of 2,933 BTC on Darknet
TL;DR Breakdown The crypto industry has been primarily associated with criminal activities due to incidents like crypto laundering. One such case has been reported concerning Ryan Farace, a darknet user with the username “Xanaxman.” The drug dealer has been charged with laundering of over 2,933 Bitcoin, which amounts to roughly 136M USD. Cryptocurrencies have been […]
Mirror Trading International crypto scam investigation to be led by the FBI
TL;DR Breakdown The FBI will now be leading the investigations for the biggest crypto scam of the year 2020. The South-African company, Mirror Trading International company, was in the center of the scheme. The Bitcoin Ponzi Scheme was shut off by South African liquidators who are trying to trace all the belongings. The investigation of […]
Scammer connected to $160 million crypto fraud arrested
TL; DR Breakdown Scammer incarcerated in $160 million crypto fraud The scammer was connected to the Morris scam India records a high rate of crypto frauds Authorities in India have apprehended a scammer involved in a crypto fraud that saw more than $160 million scammed off investors. According to the Enforcement Directorate, Abdul Gafoor was […]
Manchester police catch cryptocurrency thieves, reimburse victims
TL;DR Breakdown • Officers in Manchester refund some £4m linked to scams.• GMP asks crypto enthusiasts to beware of scammers. The Manchester police have reimbursed about £4m to crypto scam victims. This has happened after European investigators apprehended hackers who stole around £11 million. Crypto trading is attractive, but there are many scams that amateurs […]
Bitcoin (BTC) Money Laundering Case: Contrasting Valentine for Husband-Wife Duo
TR; DR Breakdown A couple is accused of being involved in Bitfinex $3.6 billion Bitcoin launder. The wife has been released on bail, while husband remains in detention. In the just-concluded Valentine’s Day, love was in the air for some while others faced the harsh realities of the law. The husband-wife duo at the center […]
Crypto fraud: Disbarred attorney pleads guilty to crypto scam
TL;DR Breakdown • Philip Reichenthal was working with Randy Levine to commit crypto fraud.• Reichenthal has potentially stolen over $5 million in crypto fraud. The New York State Attorney General’s Office, led by Damian Williams, has announced that disbarred attorney Philip Reichenthal has pleaded guilty to crypto fraud. Reichenthal pleaded guilty in front of the […]
Top crypto Youtubers fall prey to crypto scam
TL;DR Breakdown Several popular Youtubers found themselves victims in crypto scams attack on 23rd January late afternoon. Unauthorized videos were posted from the hacked accounts Cryptocurrency is known for its fluctuating gyrations, breaking record highs one minute and dropping to stomach-churning lows the next. But the volatile nature of these digital coins has been luring […]
Crypto scam: Investor loses over 1.5 million dollars to fraudulent app
TL;DR Breakdown • The crypto Investor trusted an App that a girl recommended him.• Steve Belcher confesses that he lost his retirement funds in the crypto scam Less than a week before the year 2022 – which has been promised to be the best year for crypto yet – began, another investor has lost significant […]
Bitconnect scam: United States SEC announces court verdict
TL; DR Breakdown SEC delivers verdict on Bitconnect scam lead promoter Investors lost $2 billion to the platform Arcaro banned from coin offering activities In the last few years, regulators have been working overtime to apprehend malicious actors in the crypto sector and the financial sector as a whole. However, the anonymous nature of the […]
Hackers use cryptomixers in stolen crypto laundering
TL;DR Breakdown • According to researchers, the crypto mixer Absolutio is the most used among cybercriminals.• Cryptomixers offer anonymous transactions from different sources, so they cannot be traced. Cryptomixers have remained at the center of cyber-crimes that many hackers take advantage of. These mixers allow criminals to send the cryptos they stole anonymous so they […]
Bitcoin scam: Police open new investigation into Srikrishna Ramesh
TL;DR Breakdown • Srikrishna Ramesh was arrested for being responsible for drug sales on the dark web.• Ramesh used encrypted data to perform Bitcoin scams. It is almost a year since the police arrested Srikrishna Ramesh, aka “Sriki,” a Bengaluru-born hacker. Today begins the new investigation into the attacks on one of the most important […]
2020 Twitter hack scammer faces trial for another crypto theft case worth $784,000
TL;DR Breakdown 2020 Twitter Hack scammer faces trial for another cyber theft. Scammer in sim-swap attack dupes victim of around $784,000 in 2019. He is facing trial fpr an act commited before 2020 Twitter hack. Joseph James O’Connor, 22, an accomplice in the famous 2020 Twitter Hack that saw the account of many celebrities, politicians […]
Spain police warn about the crypto scams’ growth
TL;DR Breakdown • The police authority clarifies there are agencies dedicated to scam with cryptocurrencies.• Spain has announced crypto scams since June 2020, and this year, the reports increased. The Spanish law enforcement agency recently announced that cryptocurrency thefts had increased significantly. Police officers advise all crypto enthusiasts to transact cautiously to avoid any theft. […]
UK investors have lost $200M in cryptocurrency scams since 2021
TL;DR Breakdown: Investors in the UK have lost over $200 million in cryptocurrency scams since this year. About 558 of the fraud reports were related to fake celebrity endorsements. Cybercriminals are still capitalizing on the growing attention and popularity of digital currency to siphon money from unsuspecting investors. Recently, the fraud and cyber reporting center […]
Apple compromised: $1.4 million vanishes in a bitcoin dating app scam
TL;DR Breakdown Apple’s Developer Enterprise program used to dupe unsuspecting victims. The bitcoin address linked to the scam has received over $139 million. According to a new report, scammers have swindled unsuspicious victims out of a total of $1.4 million. The fraudsters lured unsuspecting individuals in Tinder through fake crypto apps. The imposters tricked users […]
IT supervisor accused of mining BTC using taxpayer dollars
TL;DR Breakdown • Naples financed crypto mining machines with taxpayer funds.• BTC’s clandestine farm caused Suffolk County in New York to lose about $6,000 in electricity payments. The attorney general charged a New York-based IT supervisor of mining crypto using taxpayer dollars. The information technology supervisor used his clients’ money to buy the BTC mining […]
Crypto scam leader pleads guilty to over $30 million theft accusation
TL;DR Breakdown • Michael Ackerman completed the largest crypto scam in the New York financial market.• Ackerman must pay around $30 million, as agreed with the prosecution. The North American Attorney General for Southern New York Audrey Strauss reveals that former stockbroker Michael Ackerman pleads guilty to a crypto scam. The former NYSE employee admits […]
Crypto scammers strike in Taiwan, elopes with over $5M
TL;DR Breakdown Police nab 14 suspected crypto scammers in Taiwan. Scammers duped over 100 investors of over $5m. US SEC warns investors to be cautious of investment opportunities. Crypto scammers have continued their operation globally with the most recent arrest made by Taiwan Police authorities. The Taiwan police administration has reportedly arrested 14 suspected crypto […]
Brazilian police pull off one of biggest crypto seizures in the country
TL;DR Breakdown • The Brazilian police have completed one of the highest crypto seizures in the country.• A cryptocurrency company organized an astonishing Ponzi scheme, stealing about $28 million. Recently, the Brazilian police authority completed one of the most significant crypto seizures in the region. The police seized about $28.8 million in cryptos from an […]
Crypto scammers nabbed in Hong Kong after $1.4m heist
TL;DR Breakdown Police arrest 19 crypto scammers in Hong Kong. Scammers duped people in Taiwan, UK, Singapore and other places. Crypto community worried as crypto crime continues to rise. 19 alleged crypto scammers who have heisted around $1.4 Million proceeds from over 100 victims of crypto scams globally have been arrested by police in Hong […]
The Crypto Room – Another crypto scam in the making? Fraudster runs misleading YouTube channel
Tl;DR Breakdown The Crypto Room is turning out to be another crypto scam. Mikey follows typical ‘Pump-and-Dump’ scam pattern. Crypto scams are nothing new. As the crypto industry goes through puberty, the scams are hard to identify and even harder to prosecute. Crypto-related rules and policies are still under construction, making scammers more brazen in […]
Helix operator faces 20 years in prison for engaging in money laundering with cryptocurrencies
TL;DR Breakdown • BTC Mixing CEO Larry Harmon could spend 20 years in jail for money laundering.• Harmon used the dark web to hide crypto operations from regulators. A few hours ago, the Helix CEO, Larry Dean Harmon, pleaded guilty to money laundering using cryptocurrencies. The defendant used the Helix mixer for money laundering via […]
Phishing attacks targeted at crypto exchange surge in 2021
TL;DR Breakdown Phishing attacks on crypto rises in 2021. Crypto price surge is one reasons there’s an uptick in phishing scams. Crypto space remains exposed to hack in different forms. There has been an upsurge in phishing attacks targeted at crypto exchange and investors, which is currently 10 times the numbers in 2021. Similarly, phishing […]
London court orders Binance to identify hackers
TL;DR Breakdown • UK authorities order Binance to monitor and track crypto hackers.• The court in the UK has accepted requests from Fetch.ai to identify crypto hackers. This Monday, a UK court judge accepted requests for Binance to locate cryptocurrency hackers, which was brought forward by the Fetch.ai company. Binance is the most used crypto […]
Judge rebukes BitMEX lawsuit plaintiffs on their offer for crypto lessons
TL;DR Breakdown The BitMEX lawsuit by BMA has been going on since May 2020. The BitMEX lawsuit plaintiffs offered to guide the judge on crypto. Reed, Hayes, and Delo will next face the court in March 2022. The BitMEX lawsuit plaintiffs seemed to have gone out of their way when they offered the presiding judge […]
Crypto scam alert: 30-year old dark web user charged by SEC
TL;DR Breakdown A Dark Web user, Apostolos Trovias has been involved in fraudulent schemes. The SEC had detained the user for the sale of fake stock trading tricks by posing as an insider. The man developed “The Bull” as his visible name on AlphaBay and took payments only in Bitcoin. A 30-year old male from […]
Bitcoin Scam: A fake website linked to Elon Musk misleads users
TL;DR Breakdown • Elon Musk’s Starlink has a fake website in Iran.• The Bitcoin scams are increasing with virtual market regularizations. A new fraudulent website named Starlink reaches the eyes of cryptocurrency investors. The fake website is similar to starlinkiran.com. However, although they appear similar, the language used by the fraudulent website is Persian, while […]
Crypto scam alert: Man loses £2,78,000 on a fake trading app
TL;DR Breakdown • Brandon Larsen lost over 50 percent of his tokens with a fraudulent crypto trading app.• The crypto scam occurred with a fake app. A young man lost £278,000 in a crypto scam after being hacked. This happened while he was using a fake cryptocurrency mobile app. American Brandon Larsen was stumped after […]
Android crypto scam industry now targets more than 93000 victims
TL;DR Breakdown • Cloud mining is used as a crypto scam for Android devices.• More than 30 Play Store applications were flagged as fraudulent. According to studies, the crypto scam has increased in Android devices and fake Apps destined for the crypto market. Many mobile applications offer to mine cryptocurrencies for minimal interest, which turns […]
Influencers and celebrities support crypto scams, and traders are mad
TL;DR Breakdown • New tokens are crypto scams, said crypto community members.• Speculation on cryptocurrencies is being ignored. Cryptocurrencies were a null investment medium initially, but it has gained a lot of popularity for this new year. However, the crypto market has been affected by crypto scams in several aspects. Some celebrities like Kim Kardashian […]
Crypto cyber attacks surge by 192%, says Barracuda research
TL;DR Breakdown Crypto cyber attacks rise as the Bitcoin price rises. The Barracuda Network Company did a recent investigation and found phishing attacks with digital currencies. Just as the Bitcoin price has risen in recent months, so have cyber attacks related to crypto-assets. This was learned from new research from Barracuda Networks, Inc, a popular […]
