Valentine’s Day this year was wrought with chocolates, roses, and a few dozen romance scams. The Federal Bureau of Investigation (FBI) says several of these scams popped up during or prior to the national holiday, and that the problems surrounding romance scams are getting worse. Romance Scams Were Big This Holiday In 2021 alone, more than 24,000 people were either targeted by or fell victim to romance scams according to the federal agency. The process works as such: a...
Read More »Indian Student Committed Suicide After Becoming a Victim to a Bitcoin Scam (Report)
A second-year B.Com student from the Indian city Lucknow reportedly hanged himself after losing a bitcoin investment worth ₹3.5 lahks ($4,200). The local police assured they will investigate the tragic event once the victim’s family filed a complaint. Depression and Then Suicide According to coverage by Hindustan Times, the boy distributed the sum through an online crypto investment company which he previously found while using Telegram. The firm promised high returns, and...
Read More »US SEC Alleges BKCoin and its Co-Founder for Running a $100 Million Crypto Scam
The US Securities and Exchange Commission (SEC) filed an emergency action against the Miami-based financial advisor firm – BKCoin Management LLC – and its Co-Founder Kevin Kang, claiming they have defrauded investors with $100 million via a fraudulent crypto scheme. The agency seeks to impose financial penalties on the organization and a conduct-based injunction against Kang. Stealing for Personal Benefits? In a recent press release, the US securities regulator asserted that...
Read More »FBI Report Shows Colorado Residents Getting Duped By Crypto Scams
Residents of Colorado have become major targets for crypto criminals according to a new report issued by the Federal Bureau of Investigation (FBI). The FBI Says Many People in Colorado Have Been Targeted The document says that millions of dollars have been stolen from crypto traders and normal, everyday residents in the Centennial State. Many of the scams in question involve stable assets such as Tether and USD Coin (USDC). In a statement, the FBI mentioned: In a common...
Read More »Coffeezilla Accuses Khabib Nurmagomedov of Promoting NFT Scam
Coffeezilla – the popular YouTuber and “Internet Detective” covering crypto scams – is now accusing the mixed martial arts legend Khabib Nurmagomedov of “scamming” his followers with NFTs. The former UFC lightweight champion said his new collection will give fans access his his “private club,” while enabling holders to mine Bitcoin. Khabib’s NFT Collection Nurmagomedov launched his NFT collection in partnership with GoMining, for whom he became an ambassador in October...
Read More »4 Russian Nationals Indicted in Running a $340 Million Crypto Ponzi Scheme
The US authorities alleged Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev, and Sergey Maslakov – the founders of the dubious cryptocurrency investment platform Forsage – to have orchestrated a global pyramid scheme that conned investors with approximately $340 million. All defendants are charged with conspiracy to commit wire fraud and could receive a maximum penalty of 20 years in jail. Another Multi-Million Scam? A federal grand jury in the District of...
Read More »Was FBI’s Most Wanted ‘Cryptoqueen’ Brutally Murdered? (Report)
According to recent Bulgarian sources, Ruja Ignatova, a.k.a the “Cryptoqueen,” might have been killed in November 2018. She is the founder of the fraudulent scheme OneCoin and was last spotted in Greece in 2017. More Evidence About her Possible Death Secret police documents seen by Bulgarian media outlets revealed that the notorious Ruja Ignatova might have been brutally murdered over four years ago. The hitman, acting on behalf of the local drug lord Hristoforos Amanatidis...
Read More »24% of New Tokens in 2022 Were Likely Pump and Dump Schemes: Report
A recent study by blockchain analytics firm Chainalysis found that 24% of the tokens launched in 2022 had the characteristics of pump-and-dump schemes. Most of the tokens plunged by 90% in the first week of their launch after their creators dumped their holdings. This, according to Chainalysis, is a typical feature of a pump and dump scheme. Over 9,000 New Tokens in 2022 Were Fraudulent Crypto pump-and-dump schemes involve the creators of a digital asset hyping and promoting...
Read More »Crypto Scam Revenue Plunged by 46% in 2022: Report
Last year was less profitable for crypto scammers as their revenue plunged nearly 50% in 2022, according to a new study by blockchain analytics firm Chainalysis. The blockchain company noted that the decrease in revenue could be linked to the decline in the value of cryptocurrencies due to the correlation of most scam types with bitcoin’s price. Crypto Scam Revenue Dropped to $5.9B in 2022 Crypto scam revenue started 2022 on an upward trend but came spiraling down in May at...
Read More »How This Woman Lost Over $200K in a Crypto Romance Scam
A British pensioner living in Nottinghamshire parted with $207,000 after becoming a victim of a bitcoin romance scam. The police managed to restore some of the stolen funds and warned people to be extra vigilant with online dating due to the rise of similar frauds. The Latest BTC Romance Scheme The Nottinghamshire police said a woman in her 70s transferred over $200,000 to a suspicious bitcoin address belonging to an individual she was dating online. The person in question...
Read More »