Montreal Resident Falls Victim to Elaborate Crypto Scam Linked to Fake Elon Musk
Scams are getting more sophisticated and pose a significant threat to unwitting people. A woman from Montreal has recently lost over $25,000 to fraud from a phony cryptocurrency trading website that falsely used the image of Elon Musk. An anonymous woman viewed a video of Elon Musk on Facebook, which he uploaded to promote a […]
So what, is Coinbase scamming its customers now?
Venture investor Marc Weinstein has aired his frustrations on Twitter, targeting Coinbase over its KYC policy which has caused him a huge financial loss. Gather around, guys. Here’s the scoop. So on March 19, Weinstein engaged in two trades, not for long-term holds, but quick gains. Just a week later, these trades were racking up […]
Crypto investor gets $800k drained from his wallets in 46 hours
A crypto investor, going by the moniker Sell When Over, turned to Twitter to break down an alarming ordeal where a hacker siphoned off $800k from his crypto wallets within a mere 46-hour timeframe. The main problem seems to revolve around a potential Google Chrome exploit, facilitated possibly through delayed updates or undetected malware, leading […]
Crypto scams find a new home with Flyway Digital, a fakie LP provider
It is safe to live with an awareness that a crypto bull market goes hand in hand with scammers. Oh, wait, no!! These crypto scammers work a 24/7 rotation schedule on bear and bull markets. Today, all eyes are on a fakie Liquidity Provider working from Telegram who goes by the name Flyway Digital (@flywaydigital). […]
Chinese blockchain users dealing with a shocking scam pandemic
The blockchain sphere in China is currently navigating through tumultuous waters, thanks to a cleverly orchestrated scam pandemic that’s left countless investors out of pocket. This isn’t just your run-of-the-mill cyber deception; we’re talking about a sophisticated double-whammy where victims, already burned once, are being scorched again by predators masquerading as their saviors. It’s a […]
X’s scam epidemic drains users’ wallets of $104M – Are you safe?
X, formerly known as Twitter, continues to be a breeding ground for scammers who exploit the platform for phishing schemes, resulting in substantial financial losses amounting to $104 million. Impersonator accounts on X lure unsuspecting users into phishing sites, perpetrating fraudulent activities. X turns into a phishing nightmare In February, hackers stole about $47 million […]
FBI reports massive surge in cryptocurrency investment scams
Last year, the crypto world was also the playground for some of the slickest scammers out there, according to the FBI’s latest report. The numbers are in, and they’re not pretty: a whopping $3.94 billion vanished into the ether (not the Ethereum kind) thanks to investment scams, making up an eye-watering 86% of all investment […]
Myanmar-based company scams over $100m in crypto
Imagine a world where your digital wallet feels just as tangible as the one in your back pocket, vulnerable to the slickest of thieves. Now, zoom into a compound in Myanmar, a place that’s become the epicenter of a heist narrative that’s all too real and digital. Over $100 million, snatched from the unsuspecting, funneled […]
IRS-CI counts down top 10 cases of 2023 – Crypto tops with 4 counts
The Internal Revenue Service’s (IRS) Criminal Investigation branch made a list of the top ten “most prominent and high-profile” cases it examined in 2023, four of which involved cryptocurrency. Our investigators took down international tax schemes that preyed on people’s personal information, investigated multi-level marketing schemes involving cryptocurrency, and uncovered one of the largest fraud […]
Prison break or payday? Sriki moves Bitcoin worth $1.2M from his cell
In a shocking revelation, notorious hacker Srikrishna Ramesh, alias Sriki, is accused of orchestrating a swift and clandestine operation within the confines of Parappana Agrahara’s quarantine cell. According to recent reports from The Hindu, Sriki allegedly moved Bitcoins worth ₹10 crore ($1.2 million) in just 22 minutes. Sources suggest that Sriki, arrested in 2020, conducted […]
Crypto Scams Decline in Ireland as Fraudsters Shift Focus
In a surprising turn of events, fraudsters in Ireland have shifted their focus away from targeting cryptocurrency investors amid a two-year-long bear market. Instead, they have honed in on traditional banking customers, resulting in substantial financial losses. This shift comes as the cryptocurrency market experiences a decline in scams, largely retaining committed investors who prioritize […]
Hong Kong police arrest 7 for money laundering HK$111M, including via crypto
Hong Kong authorities reported the arrest of seven individuals believed to be involved in an operation to launder over HK$111 million (US$14 million) of suspected illicit funds. This action was part of a larger effort to dismantle a criminal syndicate. Among the detained individuals, two men and five women were allegedly key figures within the […]
NAB to block payments to crypto exchanges owing to high scam risk
National Australia Bank(NAB), an Australian lender, is planning to block payments to crypto exchanges with high risk to lower the amount of scam losses. The bank is joining other big lenders in the country in their efforts to curb access to digital assets platforms due to the high scam risk associated with them. NAB is […]
Crypto scammers hijack Twitter accounts belonging to prominent individuals, stealing nearly $1 million
Recently, a group of scammers has targeted over eight Twitter accounts belonging to notable individuals in the crypto space, promoting phishing scams. According to blockchain sleuth ZachXBT, the group has managed to steal almost $1 million worth of cryptocurrency thus far. The compromised accounts include Pudgy Penguins founder Cole Villemain, DJ and NFT collector Steve […]
Crypto scammers exploit celebrity images, NatWest reveals
NatWest, a prominent British bank, has released its annual Celebrity Scam Super League table, revealing the celebrities whose images are unknowingly used by fraudsters to steal millions of pounds from unsuspecting individuals. Peter Jones, known for his role in Dragon’s Den, is topping the list, closely followed by renowned naturalist Sir David Attenborough. Surprisingly, Holly […]
The FBI issues warning as crypto job scams and labor trafficking surge
The U.S. Federal Bureau of Investigation (FBI) has recently expressed deep concern over a new cryptocurrency job scam circulating among U.S. citizens and those residing or traveling abroad. The fraud, audaciously linked to labor trafficking, has raised the specter of a disturbing trend in the crypto job market. The FBI’s warning, issued on May 22, […]
Certik reports $103M losses in April’s crypto scams, exploits, and hacks
According to cybersecurity firm CertiK, in the month of April 2023, the crypto market experienced a series of scams, exploits, and hacks, resulting in a staggering loss of $103 million. CertiK, a leading provider of blockchain security solutions, conducted a comprehensive analysis of the crypto market during April and found that the number of scams, […]
AI-Driven crypto scams on the rise: regulators crack down on fake CEOs
As crypto scams have adopted the latest artificial intelligence (AI) advancements to deceive investors, California regulators are fighting back. The California Department of Financial Protection and Innovation (DFPI) reported on Thursday that scammers have utilized AI to generate fabricated CEOs in an attempt to defraud potential investors. In response, the DFPI has initiated a crackdown […]
Beware: Over 30% of crypto investment videos on TikTok are misleading, study shows
According to a recent study, more than 30% of TikTok videos about cryptocurrency investments are possibly misleading or contain inaccurate information. According to the report, more than one out of every three influencers on TikTok, the go-to social media site for the young population, have posted deceptive videos regarding Bitcoin. TikTok floods with crypto investment […]
American rapper Soulja Boy is involved in way too many crypto scams
While influencers have been praising Soulja Boy for his new NFT projects, the reality is that he has become one of the most shameless promoters in the cryptocurrency space. Research shows that the rapper has been involved in 73 promotions and 16 NFT drops, many of which turned out to be scams. Soulja Boy’s activities […]
Celebrities meet crypto scams through promotions – Who is the middleman?
In recent months, a number of Hollywood celebrities have been involved in crypto scams, leading to concerns about the safety and legitimacy of digital currency investments. But have you ever considered how these celebrities end up endorsing the failing crypto project? How do they go about the crypto promotion projects? Who links decentralized finance with […]
This is how scammers work during the bear market
While cryptocurrency prices drop, the crypto scam industry is also feeling the chill. However, according to a recent report by Chainalysis, some scammers are adapting their strategies and continuing to thrive despite the bear market. In a recent crypto crime webinar, Eric Jardine, the cybercrimes research lead at Chainalysis, revealed how scammers shift their tactics […]
A Decade of Spotting Fraud, Fighting Scams, and a Fitting Closer – The SBF/FTX Catastrophe
The blockchain space continues to grow in popularity and relevance. It is now a bonafide sector of global finance, with terms such as ‘crypto’ and ‘DeFi’ becoming mainstream topics on global news networks. It gained one of its most iconic nicknames, ‘the Wild West of Finance.’ because of its similarities with the frontiers of the […]
What is a ‘Pig Butchering’ scam?
An old crypto scam has a new moniker, and it’s costing investors millions. ‘Pig butchering’ has plagued the crypto economy. This recent crypto scam has emphasized the necessity of fraud awareness. In summation, pig butchering features a smart new twist that blends romance fraud and an investment scam. Pig butchering scam: How it works Pig […]
