Tag Archives: crypto scams

The Turkish authorities reportedly detected an illicit betting organization that used cryptocurrencies to launder crime funds. Following the investigation, law enforcement agents arrested 46 individuals involved in the scheme and confiscated $40 million worth of digital assets. ‘This Is Just the Beginning’ According to a local coverage, the Turkish police have detained the suspects across various regions in the country, including the capital Ankara, Kayseri, Van, Yozgat, and...

Scams related to crypto wallets are on the rise, and users report a phishing application for mobile devices masquerading as Nami Cardano wallet designed to steal seed phrases and funds. The fake wallet was found on Apple’s App Store and is still available for download. If a user enters the seed phrase, the app steals the data and sends it to app developers, thereby giving direct access to ADA held on the actual browser-based Nami wallet. For the uninitiated, Nami is a...

Scammers have reportedly sent consumers a new Solana Phantom security update assuring it will grant additional protection. However, wrongdoers have installed password-stealing malware through airdropped NFTs and used them to drain cryptocurrency from the affected wallets. Another Scam in the Space A recent coverage revealed that the scheme started two weeks ago when NFTs called “PHANTOMUPDATE.COM” or “UPDATEPHANTOM.COM” reached some Phantom users. Upon opening, they were...

Brazil’s Federal Police reportedly halted the operations of a criminal gang led by the businessman Francisco Valdevino da Silva, a.k.a “Bitcoin Sheikh.” The authorities claimed that the wrongdoers defrauded thousands of people in the past few years and laundered up to 4 billion Brazilian reals ($766 million). Another Crypto Ponzi Scheme in Brazil GloboNews revealed that Brazilian law enforcement agents raided the address of da Silva and many of his partners on suspicion that...

The multinational financial services company – Mastercard – released a new product called “Crypto Secure.” Its main purpose is to assist banks in preventing fraudulent cases associated with digital assets. Over the past few years, Mastercard has displayed itself as a crypto-orientated company, while some of its executives are keen proponents of the industry. The Next Step The payment services giant doubled down on its cryptocurrency efforts by launching a feature that could...

The region of Queensland in Australia has, as of late, been a hub for crypto fraud and related scams, and it looks like residents have lost close to $40 million at the time of writing. This is a huge uptick from the number reported just last year during this time, which was around $20 million. Australia and Crypto… Not the Greatest Match? Throughout Australia, as much as $263 million has been lost to crypto scams. Federal police in Australia now refer to the growing...

The Delaware Department of Justice’s Investor Protection Unit halted the operations of 23 entities and individuals involved in cryptocurrency romance frauds, known as “pig butchering” scams. A recent analysis conducted by Bankless Times estimated that Americans lost around $185 million between January 2021 and March 2022 due to such schemes. Crypto Scammers Again in the Spotlight The latest destination where crypto romance fraudsters chose to con people is the eastern US...

Law enforcement agents from Hengyang (a city in the southern Chinese province Hunan) have reportedly busted a criminal group that employed cryptocurrencies to launder 40 billion yuan (approximately $5.6 billion). Over the past several months, China’s authorities halted numerous similar schemes, arresting thousands of people. The ‘Hundred-day Action’ According to a local coverage, the Chinese police arrested 93 individuals in the city of Hengyang on suspicion of laundering...

Hackers have reportedly attacked several big-name South Korean YouTube channels in the past few months. After gaining access, most wrongdoers used the platform to upload cryptocurrency-related videos. Among the victims was the official YouTube channel of the South Korean government. Earlier this month, a group of cybercriminals compromised it so they could promote a crypto scam featuring Elon Musk’s image. South Korean Users Should Stay Alerted A recent coverage revealed that...

Aiden Pleterski – a 23-year-old Canadian trader and self-described “Crypto King” – is being sued after allegedly failing to return at least $35 million to his investors.  Authorities have already seized $2 million in assets from the Ontarian, including two McLarens, two BMWs, and a Lamborghini. Crypto Trader, or Fraudster? Pleterski ran a business called AP Private Equity Limited, through which he promised to generate high returns for investors through well-timed crypto and...