Tag Archives: crypto scams

Cardi B, took to her X account to promote a new meme coin named after her iconic track. However, there have been concerns surrounding the promotion, with security experts suggesting the account may have been compromised. Cardi B Shares $WAP Video The rapper, who has been in the news lately after claims emerged that she had undergone surgery, set off events with an October 7 post on X with a picture of her holding a cat. In the post, Cardi B, whose real name is Belcalis...

WalletConnect has warned crypto users about a fake app previously available on the Google Play Store. In a September 29 post on X, the organization behind the open-source protocol that enables secure connections between crypto wallets and decentralized applications (dApps) said the offending app has since been removed from Google Play, but not before it reportedly stole more than $70,000 worth of crypto from unsuspecting users. Malicious App Targeted Mobile Users The issue...

The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) released its cryptocurrency fraud report 2023, revealing that Americans lost an astonishing $5.6 billion due to crypto-related scams. This is an increase of 45% compared to the previous year. The report reveals that a tenth of all complaints reported to the FBI involved cryptocurrency-related scams. However, as highlighted above, these complaints contributed to nearly half of the overall losses. This has brought out...

The person behind 2023’s Euler Finance hack has congratulated the Penpie exploiter after the latter moved the bulk of the funds they stole to Tornado Cash. The Penpie thief transferred the money even as the decentralized finance (DeFi) platform pleaded for the funds to be returned in exchange for a bounty. The $27M Penpie Protocol Hack On Sep. 6, blockchain security company Peckshield made a post on X featuring the Euler Finance exploiter’s message to the Penpie protocol...

August marked a worrying time for the industry as cybercriminals ransacked hundreds of millions of dollars. With the number of hacks and scams rising tremendously this year, August marked another bad month in terms of the amounts lost to cybercriminals. August witnessed about $313 million scammed from crypto holders and platforms. Blockchain security firm PeckShield shone a light on this, stating, “August 2024 witnessed 10+ hacks in the crypto space, resulting in ~$313.86 million in losses....

The X account of French football star Kylian Mbappe was reportedly hacked on August 29, with the attackers posting multiple messages promoting a suspicious cryptocurrency named ‘$MBAPPE.’  The posts, which also included opinions on contentious topics such as the Israel-Palestine conflict, caught the attention of many, leading to significant financial losses for some. Investor Loses Over $1 Million According to data from analytics firm Lookonchain, an unwitting victim of the...

Australians have recently experienced significant losses due to cryptocurrency investment scams, with AU$180 million ($122 million) lost over the past 12 months. The Australian Federal Police (AFP) issued a warning on Wednesday, highlighting the growing sophistication and prevalence of these scams. These remarks were made during Scams Awareness Week 2024, which is designed to raise awareness of such schemes. According to the Australian Cyber Security Centre (ACSC), total investment scams...

Cthulhu Stealer attacks Mac devices and steals credentials from a long list of crypto wallets. Malware aimed at draining funds from crypto wallets installed on Macs is rising. A new malware called Cthulhu Stealer targets devices with MacOS to steal crypto wallet information, marking yet another malware affecting users of Mac devices. Cado Security identified the new malware and published a report detailing how it grabs wallet data. This has come to light days after reports of another...

A former Kansas bank executive was sentenced to 293 months in federal prison for embezzling $47.1 million in a cryptocurrency fraud scheme that led to the collapse of Heartland Tri-State Bank (HTSB). Shan Hanes, 53, the former CEO of HTSB, pleaded guilty to one count of embezzlement by a bank officer. $47M Crypto Fraud Court documents revealed that Hanes executed 11 unauthorized wire transfers between May and July 2023, directing $47.1 million of the bank’s funds to a...

Binance announced that it has prevented over $2.4 billion in losses from potential scams and fraudulent activities that could have impacted more than 1.2 million users from January to July 2024 owing to its risk management measures. According to the official press release shared with CryptoPotato, Binance employs an internal risk engine that provides 24/7 real-time monitoring using a combination of artificial intelligence (AI) and manual reviews. Binance’s Internal Risk...