Thursday , March 28 2024
Home / Tag Archives: crypto scams (page 20)

Tag Archives: crypto scams

Crypto Scams on Dating Apps on the Rise (Report)

The COVID-19 pandemic disrupted almost every single aspect of life. Since the physical contact between humans had to be reduced to a minimum, love dates and romantic activities became increasingly popular on dating applications. And while some people found their soulmates online, others turned into victims of cryptocurrency scammers who drained a significant chunk of their savings. One such example is the 33-year-old Tho Vu, who fell in love with a mysterious lover named Ze...

Read More »

BitConnect Founder Indicted For Orchestrating a Global Ponzi Scheme

Unlike the BCC token that died several years ago, the case of Bitconnect – the cryptocurrency project that gave rise to the aforementioned cryptocurrency – is still far from over. This Friday, the U.S. Department of Justice announced that one of BitConnect’s founders was formally indicted on fraud charges associated with the most famous Ponzi scheme in the world of cryptocurrencies. The Drama Isn’t Over In an official press release, the Justice Department said that Satish...

Read More »

Criminal Whales Hold More Than $25 Billion Worth of Crypto (Chainalysis Report)

The blockchain data company – Chainalysis – claimed that criminal whales represent 3.7% of all cryptocurrency whales. Those bad actors collectively own over $25 billion worth of digital assets. Almost 4% of Crypto Whales Are Criminals Cryptocurrencies have many merits, and numerous experts maintain that they represent a financial revolution. However, bitcoin and the altcoins have their critics, too. These claim that drug traffickers, terrorists, and money-launderers employ...

Read More »

Scam Alert: Animoca Brands Warns of a New Fake Token on Uniswap V2

An investor in non-fungible token (NFT) and metaverse projects, Animoca Brands, today issued a scam alert regarding a new ERC-20 token, dubbed “Animoca Brands Metaverse” on Uniswap V2. The Hong Kong-based firm said the asset fraudulently claims to be associated with it and uses the symbol “Animoca.” The Fraudulent Animoca Brands Metaverse Token According to the official press release, Animoca Brands clarified that the namesake token has no connection to the company. It urged...

Read More »

What Are Rug Pulls? How to Avoid Getting Scammed?

Nearly $10 billion were stolen in DeFi scams and thefts only in 2021, representing an 81% rise compared to 2020, and rugpulls accounted for over 35% of all crypto scam revenue. This is according to a recent report by Elliptic. And while there are many types of scams that take place regularly within the cryptocurrency community, rugpulls are arguably the most infamous. So, What is a Rugpull in Crypto? A rugpull — from the phrase to pull the rug from underneath someone —...

Read More »

India’s Central Bank Likens Cryptocurrencies To Ponzi Schemes

A top official at India’s central bank recently reiterated warnings to Prime Minister Modi’s government about the risks cryptocurrencies pose to the country’s financial system. This time, he compared digital assets to “Ponzi schemes”, mirroring some investors’ long-held criticisms of the asset class. Crypto Is A Ponzi, Says RBI Governor T. Rabi Sankar of the Reserve Bank of India (RBI) offered his criticisms during a banking conference speech on Monday. As reported by...

Read More »

Russia Halts Four Dark Web Sites With $263 Million in Crypto Sales: Elliptic

The Russian Ministry of Internal Affairs has reportedly taken down four major illegal Dark Web sites, which have made over $260 million in cryptocurrency proceeds from the sale of stolen credit cards. Those platforms are Ferum Shop, Trump’s Dumps, Sky-Fraud forum, and UAS Store. The Latest Seizures Known as “carding” websites, these illicit platforms offer stolen credit cards, and buyers can purchase them with premium gift cards, luxury goods, or (as in this case)...

Read More »

BabyMuskCoin Rug Pulls $660K in BNB: Experts Advise How to Avoid Getting Scammed

Rug pulls continue to cast a dark cloud over the crypto industry, with BabyMuskCoin being the latest example with over $600,000 duped from investors. CryptoPotato spoke with Ronghui Gu, co-founder of the blockchain security company – CertiK – about how users can defend themselves against such malicious activities. The BabyMuskCoin Rug Pull Ever since the popularity explosion of Dogecoin, propelled mainly by one of the most influential individuals – Elon Musk, the...

Read More »

Aussie Billionaire Files Criminal Case Against Facebook (Meta) for Running Illegal Crypto Ads

Fortescue Metals Group Chairman Andrew Forrest has filed a criminal case against Facebook in Australia for its failure to stop scam ads featuring his image. According to the Australian mining billionaire, this is the first time that Facebook is facing a criminal charge anywhere in the world. “I’m doing this on behalf of innocent Australians who don’t have the resources to take on companies like Facebook,” Forrest said in his lawsuit. Following Forrest’s criminal suit, the...

Read More »

The FBI Says Crypto Scams Are Up

Experts at the Portland division of the Federal Bureau of Investigation (FBI) are telling people what they can do to avoid cryptocurrency scams, which have seemingly become much more prominent and aggressive over the past few years. The FBI Says Crypto Scams Are On the Rise It seems like crypto-based crime has become a serious issue given that the prices of many leading digital currencies such as bitcoin have surged in recent years. Just two months ago, the world’s...

Read More »