Tag Archives: crypto scams

The police in South Africa are looking into a possible crypto scam case after an investment company attempted to reimburse some investors from the now-defunct Africrypt exchange. Police Launch Closer Look at Africrypt Bloomberg informed that South African Police forces across four provinces, including Durban and Johannesburg, are currently investigating reports in connection to the alleged Africrypt scam from 2021 involving co-founder brothers Raess and Ameer Cajee. The...

Johann Steynberg, a South African known for running the multi-million dollar Ponzi scam Mirror Trading International (MTI), was recently arrested in Brazil. This would be yet another large-scale arrest for the country. A few months ago, Claudio Oliveira of the Bitcoin Banco group was also put behind bars for the disappearance of 7,000 Bitcoin from his investors in 2019. Brazil Scores Another Point Against Crypto Scams Johann Steynberg managed to fraud thousands of people all...

The Twitter accounts of the Indian Medical Association (IMA), the Indian Council of World Affairs (ICWA), and Mann Deshi Mahila Bank (a local bank that supports female micro-entrepreneurs) were hacked on Sunday (January 2). The bad actors renamed the handle “Elon Musk” and initiated a cryptocurrency scam. The Most Recent Attacks After carrying out the cyber outbreak, the perpetrators posted many tweets promoting cryptocurrencies. They also changed the name and the profile...

It appears that hackers are finding new avenues to exploit non-suspecting victims and take advantage of their computing power. This time, the primary tool to use are leaks of the new Spide-Man: No Way Home movie. Spider-Man: No Way Home premiered on December 17th, 2021 – merely a week ago, in the US. For the short time being, it has already become the third-most successful movie of the year, according to box office statistics. Data from Box Office Mojo shows that it’s the...

The healthcare services firm “Ask the Doctor” recently added 31 billion Shiba Inu (SHIB) tokens to its balance sheet. However, the company’s support towards the memecoin did not last much. The fact that Shiba Inu’s founders have not revealed their real identities shows that the project is a scam, “Ask the Doctor” claimed. The latter even vowed to take it a step further and go to court. From Approval to Denial Until today, the Toronto-based telehealth company – “Ask the...

Impersonation scams are a growing threat in the cryptocurrency community, and a large number of victims continue to fall for them. The latest such example involved MicroStrategy’s CEO, and someone sent two BTC to a fake giveaway address using his name. In giveaway scams, bad actors typically impersonate a well-known figure and promote deceiving campaigns offering to double all bitcoins sent to their addresses. It goes without saying, those who fall for the fraud never receive...

The Prime Minister of India – Narendra Mori – had his official Twitter account. While under the control of the perpetrator, the account published a tweet of a BTC giveaway scam. Narendra Modi is the acting Prime Minister of India, and he got re-elected back in 2019 for another term. His Twitter account has over 73.4 million followers, and, unfortunately, it got compromised earlier today. This was confirmed by the Office of the Prime Minister of India in a separate tweet,...

The US Securities and Exchange Commission (SEC) obtained a judgment against Glenn Arcaro – the lead promoter of the alleged fraudulent scheme BitConnect. According to the regulator, he promoted it to retail investors in the States and used his company – Future Money Ltd. – to lure traders into the scam. The SEC Is on The Hunt Again The SEC published its latest intentions regarding BitConnect on its official website. There, the agency informed that The United States District...

Nikhil Rathi – CEO of UK’s top financial regulator FCA – proposed that the British government should not pay compensations to individuals investing in cryptocurrencies in case of a loss. Digital assets have been employed in criminal activities, and investors dealing with them “must be ready to lose all of their money,” the top exec opined. The UK Needs to ‘Draw Some Pretty Clear Lines’ The Chief Executive Officer of the FCA – Nikhil Rathi – addressed his proposal to the...

According to data provided by the blockchain analysis company – Elliptic – investors have lost $12 billion to criminals targeting decentralized finance platforms since the beginning of 2021. More than $10 billion of that amount accounts for cases of fraud and theft on DeFi products. Seven Times More Than in 2020 Over the recent years, the total value locked in DeFi projects has skyrocketed from $500 million to nearly $250 billion. With this major increase, though, comes the...