Tag Archives: crypto scams

Crypto scams are more prevalent today than ever. Not long ago, two residents of Southborough were scammed out of more than $31,000 in bitcoin by individuals posing as federal authorities. Crypto Scams Keep Happening One individual lost $30,000 in crypto, while the other lost $1,800. Police lieutenant Sean McCarthy, who oversaw the investigation of the incidents, commented in a recent interview: We’re working with local and state authorities, as well as forensic...

Despite false testimony from a prosecution witness linked to the “Cryptoqueen” fugitive Ruja Ignatova, the lawyer who funneled $400 million from the OneCoin cryptocurrency fraud, Mark Scott, will not receive a new trial. US District Judge Edgardo Ramos, in a ruling on Monday, rejected Scott’s request for a fresh trial. The 54-year-old had been found guilty in November 2019 of money-laundering conspiracy and bank fraud conspiracy. He has also been accused of profiting $50...

Karl Sebastian Greenwood, co-founder of OneCoin and wingman for Ruja Ignatova, also known as “Cryptoqueen,” was sentenced to 20 years imprisonment for his involvement in one of the biggest crypto scam projects. Ignatova, who was included in the Federal Bureau of Investigations (FBI) Ten Most Wanted Fugitives list, is rumored to have been murdered in 2018. 20 Years in Prison for Cryptoqueen’s Wingman According to Bloomberg, Swedish citizen Karl Sebastian Greenwood was...

Prominent blockchain investigator ZachXBT has yet again accused four popular crypto traders of a pump-and-dump scheme. At the center of the controversy are – TraderNJ, PetaByte, XO, and Trader SZ – who allegedly profited from the gains at the expense of their followers. There are many telltale signs of a pump-and-dump scheme. The crypto industry, for one, is swarmed with influencers who continuously “take shady promotion deals without any level of transparency, hurting both...

Gala Games, the Web3 gaming startup behind mobile RPG Champions Arena and other ventures, was founded in 2019 and has grown steadily. Since then, a falling out has occurred between co-founders Wright Thurston and Eric Schiermeyer. Each controlled 50% of the company, and they are now fighting to remove the other from the board of directors. Schiermeyer accuses Thurston of the theft of company assets, while Thurston alleges Schiermeyer “sold off and wasted” millions of dollars...

The security services platform that offers protection against Web3 bugs – Immunefi – estimated that hackers and fraudsters have drained approximately $23.4 million worth of digital assets from crypto projects in August. While the figure might sound significant, it is 92% less than the recorded losses in July when wrongdoers siphoned over $320 million. Last Month’s Numbers As analyzed by the platform, the exact losses that crypto projects suffered due to such attacks in August...

According to cybersecurity researcher ZachXBT, the feature meant to prevent scammers from impersonating legitimate organizations merely created a new black market. Previously, all verified accounts had blue checkmarks. Now, blue checkmarks indicate that the owner of the account has an X Premium subscription and meets the requirements to display the checkmarks. Government officials, multilateral organizations, and individuals acting as government representatives now qualify...

The Brazilian authorities have reportedly launched an investigation against one of the greatest soccer players of all time – Ronaldo de Assis Moreira (better known as Ronaldinho) – over allegations that he might have participated in a cryptocurrency scam. The athlete was summoned to testify on the matter but failed to appear in court without giving explanations for his absence. Expected to Show up in Court Next Week According to recent coverage, the former star of FC...

Google appears to be taking money from fraudsters and facilitating crypto scams. These are the findings from DeFiLlama researcher “0xngmi,” who reported that scammers are buying ads for proper crypto websites on Google, but… When users click on them, “they get sent to an ad network to track the click, but that network redirects to a scam site instead!” There’s a new crypto scam on google Scammers will buy an ad for a proper crypto website on google, with the proper URL Then...

Thailand’s Minister of Digital Economy and Society (DES) said he might propose to the court to close Meta (previously known as Facebook) to aid the investing of financial scams, including such involving cryptocurrencies.  According to him, some fraudsters use the social media platform to sponsor their fraudulent schemes and thus con victims. No More Meta for Thais? The Ministry of Digital Economy and Society of Thailand has detected that scammers publish fake ads on popular...