Tag Archives: crypto scams

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Ohio law enforcement agencies are telling residents about several growing crypto scams in the area that are targeting members of the elderly community. Ohio Is a Center of Crypto Fraud There are many crypto scams out there that seek to take advantage of older generations given they don’t always understand how...

Lux Vending – doing business as Bitcoin Depot – has reportedly filed a lawsuit against the sheriff’s office of McLennan County, Texas, accusing it of unlawfully seizing $15,000 from a BTC automated teller machine (ATM). The authorities confiscated the amount to compensate an elderly victim who had become a victim of a cryptocurrency scam. Bitcoin Depot ‘Can Go to Hell’ According to local coverage, the whole drama started at the end of April when an 82-year-old Crawford woman...

A joint investigation by the FBI’s Money Laundering Squad and Internal Revenue Service-Criminal Investigations led to a 75-month prison sentence for 64-year-old Arizona entrepreneur Reginald Fowler.  A former co-owner of the professional American football team Minnesota Vikings, Fowler has also been asked by the court to pay a forfeiture of $74.02 million and restitution of $5.31 million to the Association of American Football (AAF), a short-lived American football minor...

Research carried out by contributors of the Toronto Metropolitan University (TMU) estimated that 35% of Canadians owning digital assets had fallen victim to crypto fraud. The study further determined that approximately 9% of the locals have purchased cryptocurrencies or NFTs, with the share being higher among individuals who graduated from universities. Less Educated People Seem More Likely to Get Scammed The report, conducted via a representative survey of 2,000 Canadian...

A new report by blockchain security company Beosin revealed that the total amount of crypto assets lost to exit scams and rug pulls was higher than the amount stolen from decentralized finance (DeFi) projects through exploits and attacks last month. Beosin also discovered that losses from the exploits in May were down 79% compared to April, signaling a continued decline for two consecutive months. Losses From Rug Pulls Surpass DeFi Exploits Over $45 million was lost to crypto...

Long-term gold proponent and arguably the most popular full-time Bitcoin basher – Peter Schiff – has had his Twitter account comrpomised. According to Blockfence, Peter Schiff’s Twitter account has been compromised and hijacked. The perpetrator already published a tweet that leads to a phishing website. It’s advised not to click or interact with the link. ⚠️Warning⚠️@PeterSchiff‘s twitter got compromised. Scammers are using it to promote a fake $GOLD presale. However, note...

The Twitter account belonging to OpenAI CTO Mira Murati was hacked on Thursday, and used to promote a scam crypto token supposedly backed by the company.  The tweet stayed online for roughly an hour, garnering 80,000 views from platform users before being taken down.  Another Scam AI Token The hacker promoted a fraudulent airdrop for ‘OPENAI’ token, described as a “groundbreaking token driven by artificial intelligence-based language models.” Mira Murati’s (CTO at @OpenAI)...

It appears that the DeFi industry continues to be a prime target for hackers. On the morning of May 28th, another exploit took place, this time taking aim at liquidity platform Jimbos Protocol. Jimbos Protocol got exploited today – May 28th. According to an update by PeckShield, the hack resulted in a loss of around 4,000 ETH, worth some $7.5 million at the time of the incident. Per PeckShield: This hack is due to the lack of slippage control of liquidity-shifting operation –...

The United States Federal Bureau of Investigation (FBI) issued a warning on fake job ads that lure people to Southeast Asia, where “victims are held against their will and forced to commit international crypto scams on unsuspecting victims.” These scam mills usually put up ads on social media and lure their victims by promising well-paid jobs. Upon arrival, however, victims have their passports taken and are forced to work by scamming innocent people. Furthermore, if workers...

Fintoch, a decentralized finance (DeFi) protocol that offers peer-to-peer (P2P) lending and investment services, has absconded with $31.6 million in cryptocurrencies belonging to investors in an apparent exit scam. Multiple tweets from Fintoch users complaining about being unable to withdraw their assets were seen on Twitter earlier today, confirming suspicions that the platform had vanished with investors’ funds. Fintoch Rug Pulls Users Famous Web3 expert and on-chain...