2 / 7 Relevant items tagged with #Scams

Posts

Coinbase to expand use of Vaults for secure crypto custody — Executive

[Aug 8 5:18 PM] Coinbase currently holds approximately $270 million in customer assets.

Lookonchain oopsie? The $2B of ETH was sold back in 2021 — EmberCN

[Aug 8 1:44 AM] Lookonchain shared that Plus Token had begun moving nearly $2 billion in ETH but it turns out most of it had already been sold in 2021.

Surge in Bitcoin Scams Hits Lubbock, Police Warn

[Aug 7 5:30 AM] Lubbock police in Texas have reported a notable increase in bitcoin-related scams, with victims losing significant amounts of money. Over the last few months, 20 to 30 individuals have come forward to report scams involving gift cards and bitcoin…

FBI Issues Warning About Crypto Exchange Scams

[Aug 2 2:30 AM] The Federal Bureau of Investigation (FBI) has warned cryptocurrency users about scammers impersonating crypto exchange employees to steal funds through unsolicited messages or calls. These fraudsters create urgency, claiming issues with accounts to…

NY authorities announce charges related to ‘sham’ crypto recovery firm

[Aug 1 4:14 PM] The New York County District Attorney seized roughly $14,000 that Coin Dispute Network operators allegedly stole from users.

China’s crypto ban fails to stop scams as Shaanxi police arrest 4 suspects

[Jul 31 9:38 AM] Mainland China quickly and effectively addresses crypto fraud incidents despite banning crypto transactions a few years ago.

Over 70% of hacked funds are lost to CeFi entities — Cyvers

[Jul 31 8:43 AM] Real-time threat detection and AI integrations could further bolster Web3 security, according to the CEO of Cyvers.

$31M Neiro project on Ethereum ‘is a honeypot’ — Wazz

[Jul 28 1:05 PM] It’s unclear at this time whether illicit activity has taken place, but a series of red flags has brought the token under scrutiny.

Forcount crypto scheme promoters plead guilty to wire fraud conspiracy

[Jul 22 3:48 PM] On July 22, two of the five individuals who allegedly stole $8.4 million from investors between 2017 and 2021 by promoting Forcount pleaded guilty.

Angel Drainer reportedly shuts down after devs potentially identified

[Jul 16 4:12 PM] Two hours after Match Systems claimed to have discovered the identity of Angel Drainer developers, users began complaining that the app no longer worked.

Cambodian Payments Firm Received $150K From North Korean Hackers Lazarus Wallet: Reuters

[Jul 15 9:15 AM] The crypto was stolen by Lazarus hackers from three crypto companies in June and July last year.

Hong Kong flags 7 unregulated crypto exchanges for noncompliance

[Jul 15 4:06 AM] The Hong Kong Securities and Futures Commission added seven crypto trading platforms to its alert list for operating without licenses, raising concerns over investor safety.

TON ecosystem scams on the rise: How to stay safe

[Jul 10 7:54 AM] As the TON blockchain is open-source and permissionless, individual users and projects must be careful to ensure their own safety.

FTC Warns: Social Media Investment Scams on the Rise

[Jun 29 2:16 AM] The U.S. Federal Trade Commission (FTC) has warned consumers about a surge in social media investment scams, especially in cryptocurrency. These scams involve fraudulent messages claiming guaranteed high returns with little or no risk. The FTC…

Crypto Hacks Net $19B Since 2011 and Illegal Activity on Blockchain Is Still Growing

[Jun 12 3:00 AM] Almost $19 billion worth of cryptocurrency has been stolen in thefts dating back to 2011 as the industry continues to grapple with rising blockchain-related crime, according a report from Crystal Intelligence.

Be Warned, AI Crypto Scams Are on the Rise

[Jun 11 11:18 AM] A recent Elliptic report found five ways AI is being used to rob crypto users.

Tether CEO warns of new wave crypto airdrop scam emails, CoinGecko potentially affected

[Jun 5 5:04 AM] Cryptocurrency users should exercise extreme caution when handling crypto airdrop-related emails received in the past 24 hours, according to Tether’s CEO.

Crypto losses from fraud and hacks declined 12% in May — Immunefi

[May 30 11:00 AM] The decline in crypto scams and frauds continued, with only $52 million lost in May compared to $59 million the previous year.

Coinbase, Kraken, Others Form Coalition to Tackle 'Pig Butchering' Scams

[May 22 3:00 AM] The coalition also includes prominent crypto companies Ripple and Gemini, as well as Meta and Match Group, the parent company of dating apps Tinder and Hinge.

Binance develops ‘antidote’ to address poisoning scams after $68M exploit

[May 16 3:46 AM] Binance’s new algorithm has already helped detect over 13.4 million spoofed blockchain addresses on BNB and over 1.68 million on Ethereum.

Solana-based Cypher developer confesses to gambling away $300K of user funds

[May 15 2:42 AM] The insider’s exploit went unnoticed for months, despite over 36 individual transactions.

WBTC thief returns $71 million worth of stolen funds

[May 13 6:17 AM] On-chain transactions leading up to the return suggest this wasn’t a white hat hacker but a malicious actor who intended to steal the funds before investigators got involved.

Trader loses $68M in address poisoning scam

[May 3 6:49 AM] The attack caused the unknown trader to lose over 97% of their crypto holdings.

April sees $25M in exploits and scams, marking historical low ― Certik

[Apr 30 10:30 AM] Losses from hacks and scams reached their lowest level since 2022 when Certik first started recording the data, as flash loan attacks and private key hacks decreased.

DeFi’s ‘unknown and unpredictable’ risks curb institutional use — Fireblocks VP

[Apr 24 7:00 AM] Institutions are keen on DeFi, and its use among them is growing, but on-chain risks are hamstringing further adoption, says Fireblocks’ Shahar Madar.

Half of Solana Pre-Sales Are Scams, Blockaid Says

[Apr 10 9:42 AM] Blockchain security firm Blockaid said 50% of recent pre-sale token launches on Solana have been malicious.

Crypto Investment Scam Losses in U.S. Grew 53% to $3.94B in 2023: FBI

[Mar 8 11:36 AM] Investment fraud at large grew by 38% from $3.31 billion to $4.57 billion, according to the bureau's Internet Crime Report 2023, highlighting the prominent role that cryptocurrency plays in this area of crime.

When Is a Ponzi a Ponzi?

[Jan 30 1:21 PM] U.S. authorities indicted the operators of HyperVerse, allegedly an $1.8 billion “Ponzi scheme.” There’s a fine line between a “fraudulent investment scheme” and many crypto projects, it seems.

Crypto Rug Pulls: What Are They & How to Avoid Them

[Jan 11 1:18 PM] Crypto rug pulls cause billions of dollars in loses in the global crypto markets.

Alleged Crypto Investment Scam Worth $80M Sees Four People Charged With Money Laundering in U.S.

[Dec 14, 2023 10:20 AM] The four allegedly obtained the money through so-called pig-butchering and other fraudulent schemes.