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CryptoCurrency

Beware of “Fake Investors”: AI Startup Founder Claims to Have Lost $50,000 to Scammers

  • The AI startup founder was certain it was the $8 million investment offer until scammers siphoned $50,000 out of his crypto wallet.
  • The scam operation was highly organized and involved a series of video calls with at least four scammers.
Tuesday, 03/12/2024 | 11:49 GMT by Arnab Shome
CryptoCurrency

SEC Hits “Pig Butchering” Scammers for the First Time: Busts Two “Fake” Crypto Platforms

  • The regulator alleged that the scammers approached investors on social media and then pitched fake investments.
  • The regulator charged five entities and three individuals in connection with two allegedly fraudulent schemes.
Thursday, 19/09/2024 | 10:49 GMT by Arnab Shome
CryptoCurrency

3 of 4 Crypto Thieves Go Unpunished, Taking Over $1 Billion

  • The latest Cyvers report shows that only 24% of stolen cryptocurrencies are returned to the victims.
  • In the first half of 2024, the value of digital assets scams exceeded $1.38 billion.
Tuesday, 09/07/2024 | 11:59 GMT by Damian Chmiel
CryptoCurrency

You Won't Believe How Much Hackers Stole from Crypto in Just 6 Months

  • Crypto losses soared to $1.19B in the first half of 2024, mainly due to the phishing attacks.
  • A new CertiK report revealed alarming trends in Web3 security incidents
Thursday, 04/07/2024 | 09:50 GMT by Damian Chmiel
Regulation

Instead of 15% Profit on Bitcoin, $83.7 Million Loss: “A Classic Ponzi Move"

  • Federal judge issues ruling in case of Sam Ikkurty and related companies.
  • In total, he must pay nearly $121 million for luring investors into a financial pyramid scheme.
Thursday, 04/07/2024 | 08:45 GMT by Damian Chmiel
Regulation

CFTC Warns Youth: Don't Fall Prey to Crypto "Money Mule" Scams

  • Beware of online job offers asking you to transfer crypto, the regulator warns.
  • Participating, even unknowingly, can lead to criminal charges.
Monday, 13/05/2024 | 17:19 GMT by Damian Chmiel
Retail FX

Fake Celebrity Ads for Crypto and FX Trading Scams Catch Kiwi Regulator’s Attention

  • Scammers are running sophisticated fake celebrity endorsements to promote fraudulent schemes.
  • A neighbouring Aussie regulator has also issued a similar warning recently.
Monday, 13/05/2024 | 06:36 GMT by Arnab Shome
CryptoCurrency

OneCoin’s Legal and Compliance Head Gets 4 Years in Prison

  • Irina Dilkinska pled guilty to wire fraud and money laundering.
  • She has been sentenced to one month of supervised release and is required to forfeit $111 million.
Thursday, 04/04/2024 | 04:57 GMT by Arnab Shome
CryptoCurrency

Losses to Crypto Frauds Jumped to $3.94 Billion in 2023: FBI Reveals

  • Overall investment losses last year increased 38 percent to $4.57 billion.
  • Although scammers target all age groups, people above 60 years of age are very vulnerable.
Monday, 11/03/2024 | 08:28 GMT by Arnab Shome
Retail FX

‘Want to Be My Valentine?’: CFTC Sounds Alarm on Romance Scams

  • The regulator asked dating and messaging apps and social media users to be wary of any messages from strangers promoting crypto or FX.
  • Scammers build an aura of relationships for weeks before pitching fraudulent schemes.
Thursday, 08/02/2024 | 08:30 GMT by Arnab Shome
CryptoCurrency

Texts of Deception: Unveiling Smishing, the Dark Side of SMS in Crypto

  • While Telegram and WhatsApp grab headlines, the old-school SMS is still going strong for scammers.
  • The reason: Outdated GSM technology leaves exchanges helpless.
Tuesday, 06/02/2024 | 13:48 GMT by Damian Chmiel
Retail FX

Australian Regulator Clamp Down on Super Fund Scam and Unlicensed Crypto Services

  • The watchdog charges individuals in SMSF scams and unlicensed crypto service cases.
  • The schemes promised high returns for retail investors.
Tuesday, 06/02/2024 | 08:49 GMT by Damian Chmiel
CryptoCurrency

Exclusive: Scammers Impersonate Binance, but the Exchange Says There’s Nothing It Can Do

  • Fraudsters are offering fake cash prizes in official SMS threads from the crypto exchange.
  • Binance responds it "seems unrealistic" to eliminate this type of phishing attempt.
Monday, 15/01/2024 | 11:32 GMT by Damian Chmiel
CryptoCurrency

"Pig Butchering" Crypto Scams: 4 Americans Charged for Laundering $80M

  • Scammers in such scams gain victims' trust before pitching fraudulent investment schemes.
  • Two of the defendants have now been arrested and are facing up to 20 years in jail.
Friday, 15/12/2023 | 05:40 GMT by Arnab Shome
Retail FX

Hundreds of Polish FX and Crypto Traders Lose Millions in "Fool Me Twice" Fraud Scheme

  • Polish authorities uncovered a fraudulent recovery scam duping FX and crypto investors.
  • Several hundred people might have lost over PLN 9 million.
Thursday, 23/11/2023 | 09:44 GMT by Damian Chmiel
CryptoCurrency

$300 Million Crypto Scam: Indian Authorities Arrest 8 Cops

  • The scam targeted around 5,000 government officials and about 1,000 police personnel.
  • The Indian police made 18 arrests related to the fraud.
Tuesday, 07/11/2023 | 08:42 GMT by Arnab Shome
CryptoCurrency

Study Finds Blackmail Leads in $20 Billion Bitcoin Scams

  • Blackmail has led the list of the most prevalent types of Bitcoin scams since 2018.
  • The number of reported scammers has almost halved, but ransomware scams are on the rise in 2023.
Wednesday, 04/10/2023 | 08:44 GMT by Damian Chmiel
CryptoCurrency

Crypto Kingpin behind Bars: 12 Years for $100M Ponzi Scheme

  • The scheme mastermind has been sentenced for running a global crypto pyramid scheme.
  • AirBit Club deceived investors, with assets valued at $100 million have now been seized.
Wednesday, 27/09/2023 | 08:22 GMT by Damian Chmiel
CryptoCurrency

What is a Rug Pull: Types, How to Avoid Them

  • A deep dive into rug pulls.
Thursday, 14/09/2023 | 08:08 GMT by Pedro Ferreira
CryptoCurrency

$4 Billion Crypto Scam: OneCoin Co-Founder Gets 20 Years in Prison

  • OneCoin arbitrarily set the price without considering market forces.
  • Millions of victims lost money due to the fraudulent scheme.
Wednesday, 13/09/2023 | 08:50 GMT by Tareq Sikder
CryptoCurrency

Crypto Hacks and Exploits Decline to $300M in Q2: Report

  • Hackers stole about $313 million in the period.
  • The figures compare to $745 million lost in the same period last year.
Wednesday, 05/07/2023 | 16:16 GMT by Jared Kirui
CryptoCurrency

Israeli Entrepreneur Was Allegedly Robbed of Crypto at Gunpoint

  • The cryptocurrencies have been reportedly frozen by receive wallet provider.
  • The entrepreneur has left Israel and the unnamed person remains almost penniless.
Thursday, 15/06/2023 | 15:07 GMT by Solomon Oladipupo
Education Center

The Importance of Staying Vigilant against Crypto Scams

  • Scammers are getting better and more sophisticated.
Tuesday, 13/06/2023 | 14:08 GMT by FM Contributors
CryptoCurrency

Former New York Banker Faces Criminal Charges for Crypto Scam

  • He was arrested on Monday and arraigned on Tuesday afternoon.
  • The CFTC also filed a civil lawsuit against him.
Wednesday, 12/04/2023 | 06:49 GMT by Arnab Shome
CryptoCurrency

Ormenus Coin Scammers to Pay $102 Million as Recovery and Fine

  • The siblings ran a massive operation defrauding thousands of retail investors.
  • The SEC brought charges against the fraudsters last year.
Friday, 31/03/2023 | 09:06 GMT by Arnab Shome
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