$3.6 billion worth of Bitcoin stolen by 2 South African brothers
TL;DR Breakdown • The Cajee brothers have undertaken the biggest Bitcoin heist in history.• The Bank for International Settlements warns about illicit activities with cryptocurrencies. A few weeks ago, the most significant possible crypto theft was reported and occurred in South Africa. Two brothers from the southern African country disappeared with $3.6 billion in Bitcoin, […]
63-year-old loses Pension to Bitcoin investment fraud
TL;DR Breakdown Retired teacher loses pension to Bitcoin scam How not to be a victim of BTC scam Teresa Jackson, a 63-year-old retired teacher, has unfortunately lost her retirement pension to a Bitcoin investment fraud. Reportedly, she was conned by a mystery financial advisor who persuaded her to stake $165,000 in a Bitcoin investment fraud […]
Scammers attempt to phish Ledger wallet information by sending fake wallets via mails
TL;DR Breakdown The victims of Ledger’s data breach have been exploited by scammers. Mails were sent out to the users, seeking private information from them. These scammers were disguised in the form of wallet replacement services from Ledger. Ledger wallet is one of the world’s most trusted hardware wallets for storing any kind of cryptocurrency. […]
Biden, Putin chart way forward on ransomware attacks
TL;DR Breakdown Biden, Putin speaks on how to end ransomware attacks Why Biden, Putin wants to end cyber attack President of the United States of America Joe Biden has hinted that he is making progress with the prevalent ransomware attacks in the U.S and world after his meeting with Russian President Vladimir Putin. After a […]
Operation Trojan Shield: Over 800 criminals arrested and millions in cryptocurrencies seized
TL;DR Breakdown • The global drug ring was arrested by Operation Trojan Shield, successfully seizing many drugs in 16 countries.• More than $48 million in cryptocurrencies could also be recovered thanks to this operation. Law enforcement authorities worldwide joined forces in Operation Trojan Shield to seize 5 tons of cannabis, 6 tons of cocaine, and […]
Millions of online scams and frauds have been reported to the FBI
TL;DR Breakdown • In 14 months, online scams have increased by 69%.• The most frequent online scams are Phishing, BEC, and cryptocurrency investments. The FBI reported that it recently received a new record in reports related to online scams and fraud in crypto investors. The federal office’s internet crime complaint center took over seven years […]
France turns down Russia’s request to “hand over” BTC-e operator Alexander Vinnik.’
TL;DR Breakdown France rejects Russian’s request to extradite Vinnik. Vinnik set to begin a new hunger strike. The France judicial services have turned down Russia’s request to surrender to them a BTC-e operator, as stated by the legal representative of Russia. Alexander was hoping to see the light at the end of the tunnel; however, […]
Cryptocurrency scam: Investors lost $2 million in crypto by Elon Musk Impostors
TL;DR Breakdown • Cryptocurrency scams continue alongside Musk’s speculation.• The Federal Trade Commission says scams are up 1000%. The proposal was very tempting, investors were attracted to Elon Musk and his program, but it ended up being a sinister scam. The founder of SpaceX and Tesla CEO, Elon Musk, has become the spotlight for cryptocurrency […]
Chainalysis: $81 Million crypto already stolen in 2021
TL;DR Breakdown At least $81 million in crypto already stolen in 2021 US authorities and their relationship with Chainalysis Chainalysis, a blockchain data analytical company, has said that at least $81 million has been stolen in crypto in 2021 owing to ransomware attacks. The attack led to $406 million crypto theft in 2020. The firm […]
Crypto scam: South Korean authorities clampdown
TL;DR Breakdown South Korean authorities begin clampdown on crypto scams Authorities monitoring phishing attempts 24/7 Authorities in South Korea are beginning to strengthen structures in place to curb rising phishing crypto scam attempts in the country. Local reports in Korea reveal that rise in prices for most cryptocurrencies, phishing activities have tripled in the country. […]
Ruja Ignatova, crypto scammer, believed to own 230,000 Bitcoin
TL;DR Breakdown Crypto scammer may have way more BTC than previously known. Ruja had accrued Bitcoin from wealthy Dubai citizen. Onecoin crypto scam ring leader Ruja Ignatova, behind one of the largest crypto scams the industry had ever seen and still at large, is said to have 230,000 Bitcoin. Ruja Ignatova, also called crypto queen, […]
Crypto assets: Protecting your portfolio from fraud and theft
TL;DR Breakdown • Crypto wallets are better than exchange and hosting systems.• Thefts in cryptocurrencies have increased since 2020. Not surprisingly, crypto assets are gaining popularity in today’s economy due to their potential for easy profits. The word “cryptocurrency” has changed how you can view financial schemes because of its blockchain technology. However, you must […]
Six imprisoned in connection to Turkey crypto exchange fraud
TL;DR Breakdown Six imprisoned in aftermath of Thordex exchange heist Turkey deploy hunt team to arrest absconding Thordex exchange CEO Six people have been found guilty and subsequently jailed for their role in the Thordex crypto exchange heist, a Turkish crypto firm that committed an exit scam and absconded with users found worth several U.S. […]
Indian lecturer losses nearly $14,000 Bitcoin in Telegram scam
TL;DR Breakdown An Indian lecturer has been scammed by someone who offered to manage his account. Almost $14,000 is feared to be lost forever. The global cryptocurrency market has unarguably seen massive interest and a huge number of new investors since the past year. However, the growing adoption of cryptocurrency continues to attract scammers looking […]
Chinese gang arrested over fake crypto call centers in Turkey
TL;DR Breakdown The Turkish police have arrested 18 Chinese men running in fake crypto call centers. More than $200,000 were seized during the raid. As the cryptocurrency market keeps gaining mainstream attention, cyber-criminals still persist with their fraudulent tactics to defraud unsuspecting investors in the digital currency space. Yet, they mostly end up in police […]
WisdomTree joins the race for Bitcoin ETF in United States
TL;DR Breakdown: WisdomTree is seeking the United States’ SEC approval to launch a Bitcoin ETF. Recently, Grayscale published new positions for ETF experts. Leading asset manager and exchange-traded fund (ETF) sponsor in the United States, WisdomTree, joined the list of companies looking to launch a Bitcoin ETF in the country. The company filed a document […]
Bitcoin theft: Nigerian authorities sentence scammer to jail
TL;DR Breakdown Man sentenced to prison in Nigeria for crypto scam. Crypto scam to rise in Nigeria – analysts. The Economic and Financial Crime Commission (EFCC) in Nigeria has secured the imprisonment of one crypto scammer, Victor Ogaraku, for Bitcoin theft. Victor was convicted on a one-count charge of obtaining money under false pretense. Justice […]
Pakistan police arrest suspects in first Bitcoin robbery case
TL;DR Breakdown: Police have arrested two suspects involved in the recent Bitcoin robbery case in Pakistan. The prime suspect is still at large. The local police of Gujranwala have reportedly arrested two persons allegedly involved in the Bitcoin robbery case that happened in Pakistan earlier this week. According to the report today, the police said […]
Crypto scam revenue dropped by $5 billion in 2020
TL;DR Breakdown Chainalysis reports drop in crypto scam revenue in 2020. Increase in ransomware attacks due to new strains. Recent reports from Chainaysis, a leading blockchain analytic firm has revealed that revenue gotten from crypto scams last year dropped by $5 billion compared to 2019. The analytics firm reports that transactions involving illicit funds decreased […]
Foreign investors robbed of $92K Bitcoin in Pakistan
TL;DR Breakdown Two investors from Switzerland have lost thousands of dollars in Bitcoin and Euro. They were deceived by a Pakistani who invited them over for an investment offer. Two foreign investors were reportedly robbed in Pakistan, losing thousands in Bitcoin and fiat currency. Per the complaint filed with the local police, the investors travelled […]
Police arrest 10 SIM swappers targeting US celebrities
TL;DR Breakdown: Law enforcement agencies have apprehended 10 SIM swappers in Europe. The gang allegedly targeted celebrities in the United States to steal their info and cryptocurrencies. Europol, the European Union’s law enforcement agency, has reportedly arrested a group of SIM swappers targeting celebrities in the United States. As the Independent reported on Thursday, the […]
Teenage ecstasy dealer sentenced, bought drugs with Bitcoin
TL;DR Breakdown: A teenage ecstasy dealer was sentenced to prison after pleading guilty to his illicit acts. He was caught trying to smuggle 83 ecstasy pills from Holland. The importation of hard drugs is one illegal activity that could land teenagers a jail-term sentence. According to a report on Thursday, Dylan Bailey, a teenage ecstasy […]
US Navy couple allegedly sold 9,000 identities for Bitcoin
TL:DR Breakdown: US Navy couple has been charged for allegedly selling stolen IDs for Bitcoin. The prosecutors said they generated over $160,000 through the sale of the information. A federal grand jury in Fresno, California, has reportedly charged a US Navy couple for allegedly stealing and selling the identities of about 9,000 people in exchange […]
Chainalysis: Crypto ransomware attacks rose by 311% in 2020
TL;DR Breakdown Illicit transactions with crypto dropped to 0.3 percent in 2020. However, there is a spike in the number of ransomware attacks. The growth of the cryptocurrency industry has been an attractive factor for cyber-criminals. The market was threatened with several fraudulent investment schemes and hackers over the past years, causing a setback for […]
Debunking ‘Bitcoin is a Bubble’ hoax: Stop waiting for a catastrophic crash
Mainstream financial analysts are not yet done with the ‘Bitcoin is a bubble’ narrative to label the cryptocurrencies as a fad. Over the years, BTC skeptics have shown disdain for Bitcoin’s ability to power financial services and replace traditional currencies effectively. Even though a complete crypto takeover of the financial industry won’t happen any time […]
Hong Kong crypto trader loses $450K USDT at knifepoint
TL;DR Breakdown: A female crypto trader in Hong Kong lost over $450K to robbers after a transaction with a buyer. Another trader had faced a similar situation earlier this month. A report today by AsiaOne reminds us why person-to-person crypto transactions of large amounts can be risky. A female crypto trader was recently robbed of […]
Indian doctors warn against COVID-19 vaccines offered to VIPs for Bitcoin
TL;DR Breakdown: Black marketers are offering unverified COVID-19 vaccines to VIPs in India. Several doctors warned against them as they might unhealthy and illegal. An unverified COVID-19 vaccine is making rounds in the black market, targeting patients and residents in India, although the government hasn’t authorized the distribution of such drugs in the nation. Most […]
US Gov. Gretchen Whitmer receives death threats demanding Bitcoin payment
TL;DR Breakdown US Gov. Gretchen Whitmer and the state workers were recently threatened in a letter. The unknown sender(s) are demanding payments in Bitcoin. Authorities, however, said the threat is not credible. A United States politician, Gretchen Whitmer, who has been serving as the governor of Michigan for the past two years, was recently sent […]
United States regulators charge 15 Bitcoin and forex scammers in massive crackdown
Regulators in the United States state of Texas have brought charges against 15 unregulated investment platforms advertising false investments. Ten of those platforms were allegedly created by a Texas resident named James Blundell. Those same regulators have led over 40 counter-fraud investigations related to cryptocurrency since 2017. Regulators in the United States have brought charges […]
Trader loses $20,000 in Fake Uniswap App on Google Play
An alleged fake Uniswap app is stealing thousands of dollars from users. The app reportedly has many positive reviews, which were are fake. Scammers are still pestering cryptocurrency investors with fake applications on the Google Play store. A disclosure today shows that decentralized finance (DeFi) traders are losing thousands of dollars to a fake Uniswap […]
Crypto crime: Man stayed underwater for 30 minutes to avoid FBI arrest
The FBI has arrested a Californian man after running underwater for nearly 30 minutes over a crypto crime. He allegedly operated two businesses which he used to bilk millions of dollars from investors in a crypto investment scheme The defendant may face a life sentence if he’s found guilty of the crypto crime. A 44-year-old […]
Bitcoin ransoms demanded from Israel
Bitcoin ransoms are being demanded from Israel. An American-Israeli cybersecurity firm diagnoses where the Bitcoin ransomers are located and the results came out in their report today. The ransomers had managed to work their tricks on a load of companies in Israel over several weeks. Bitcoin ransoms demanded from Israel Bitcoin ransoms are being demanded […]
$10M crypto fraud lands ex Microsoft employee in jail
A former employee at Microsoft has been sentenced to prison over crypto fraud. He stole about $10 million in cryptocurrency belonging to his employer. After about nine months of conviction for suspected crypto fraud, former Microsoft employees, Volodymyr Kvashuk, bagged a nine-year jail term in the latest court ruling today. According to the information on […]
Crypto fraud: US seizes $24M in crypto from major investment fraud in Brazil
A major crypto fraud scheme in Brazil has been halted by the Brazilian authorities. DOJ aided in the seizure of millions of dollars from one of the conspirators. In cooperation with the Brazilian authorities, the United States Department of Justice has helped to shut down a major cryptocurrency investment fraud in Brazil. According to information […]
Bitcoin scam: ex-hockey player sentenced to jail
A court in Moscow has sentenced a former hockey player to a four-year jail term over a Bitcoin scam. Musatov failed to fulfill his obligations in the role. Igor Musatov, an ex-hockey player, has been sentenced to imprisonment by a law court in Moscow, due to his role in a Bitcoin scam that cost about […]
Crypto scammers defraud British grandma of £65,000
A senior citizen residing in the United Kingdom was recently defrauded by crypto scammers causing her to lose £67,000. As reported by The Telegraph, an elderly woman from the UK was swindled twice by crypto scammers causing her to lose over £65,000 while trying to earn profits through cryptocurrency. Once bitten twice shy? Amanda Briggs, […]
Bitcoin scam: Saskatoon police educates public to avoid crypto-related frauds
Saskatoon police have debuted a poster campaign against Bitcoin scams in the city. Fraudsters have been faking calls to deceive victims that they are government agencies. Bitcoin scams have been on the rise for years. The largest cryptocurrency is usually preferred by scammers as a means of payment, probably due to its level of anonymity […]
Bitcoin keeping Nigerian protests alive
Feminist Coalition, the dominant donation receiver for the strikes against SAR, discovered Bitcoin as their significant funding source by the 22nd of October 2020. The EndSARs march against police brutality, specifically, the Special Anti Robbery Squad, known for being violent, is attracting thousands in Nigeria. The digital currency had contributed to 40% of the $387,000 […]
$5.6m crypto scam: Andrade blames SEC for misleading court
Rowland Andrade’s company, NAC Foundation (NAC) continues to challenge SEC lawsuit Andrade has claimed there is no case The defendant accused the Securities and Exchange Committee (SEC) of having ‘mislead the court’ regarding patents Rowland Marcus Andrade, accused of selling unregistered securities in the form of AML Bitcoin, has now appealed to a San Francisco […]
Bitcoin scam touting free Tesla nabs more than $20k
An entire Bitcoin was just one of the transactions the scammers got away with As reported by Decrypt, another “free giveaway” has managed to entice one of its victims into sending scammers an entire Bitcoin (BTC). The scam purported to offer a free Tesla in exchange for sending currency to their listed address. Victims would […]
