Tag Archives: crypto scams

The Federal Bureau of Investigation (FBI) warned about an “increase in scammers” employing crypto ATMs and Quick Response (QR) codes for fraudulent activities. The agency gave valuable tips on how individuals can protect themselves on such occasions. Beware When Using Crypto ATMs Quick Response codes – machine-scannable images that can instantly be read using a smartphone camera – can be used at cryptocurrency ATMs to send payments to an intended recipient. It seems bad...

The masterminds behind the Squid rug pull are probably enjoying the good life after stealing more than $3 million in a matter of seconds. But Binance is doing everything it can to make sure their party is short-lived. Binance, the largest cryptocurrency exchange platform in the world, is tracking the scammers. According to Barron’s, an intelligence team is auditing the blockchain, gathering information to hand over to the authorities and help apprehend the scammers. Binance...

SQUID officially left the game. These, amongst others, are some of the reactions to what happened moments ago to one of the most widely-discussed tokens for the past couple of days – Squid Game (SQUID). The SQUID price tanked today – it’s down 99.99%, according to CoinMarketCap. The price of the cryptocurrency dropped from above $2,800 to $0.005 in a single red candle, indicating that what many thought to be inevitable happened – the project got rugged. A rug pull means that...

The SQUID token made headlines in various financial and cryptocurrency media around the world this week. Still, it might not be the miracle everyone was hoping for. After rising over 110,000% in less than a week, reports of “investors” who have been unable to sell their tokens after astronomical gains are starting to pop up all over the internet. The token is ranked #2905 among the cryptocurrencies listed on Coinmarketcap, but the price aggregator itself has already put up a...

Google’s Threat Analysis Group revealed that cybercriminals have been targeting YouTube content creators in phishing campaigns for the last two years. The bad actors often hijack their channels and either sell them back for a higher price or employ them to broadcast digital asset scams. YouTubers, Stay Alert In its report, Google’s team explained that some hackers recruited in a Russian-speaking forum had attacked many YouTubers with “highly customized” phishing emails and...

The number of cryptocurrency-related crimes in the United Kingdom has significantly surged in the first nine months of 2021 comparing to last year, reads a recent report. The local police warned that bad actors often use a fake celebrity endorsement to lure people in. Youngsters Are The Most in Danger According to a recent Bloomberg coverage, there have been 7,118 reports of schemes related to digital assets in the UK between January and October this year. Victims parted out...

The Federal Bureau of Investigation partnered up with the Israeli Police to arrest 26 people alleged of offenses related to digital currencies employment. While the operation happened in Tel Aviv, it involved victims who all reside abroad. Detaining The Criminals According to a local report, the FBI and the Tel Aviv district fraud unit of the Israeli Police conducted an investigation on criminals who conned tens of millions of shekels from victims. In a recent joint...

American online streaming giant Netflix is preparing to release a documentary, which focuses on the death of Gerald Cotten, founder and CEO of the now-defunct Canadian cryptocurrency exchange, QuadrigaCX. Netflix made the announcement via Twitter on Thursday (September 23, 2021), with the documentary titled “Trust no One: The Hunt for the Crypto King.” According to the synopsis, a group of QuadrigaCX investors who have become investigators will seek to uncover the suspicious...

The 24-year-old Australian national – Stefan He Qin – will spend the next 90 months in federal prison for defrauding his customers out of $90 million. The courts also ordered him to forfeit nearly $55 million from the embezzled money. The Road to Prison According to a press release from the United States Department of Justice, Stefan Qin received a prison sentence for seven and a half years after stealing nearly $90 million from his clients. The Australian was in charge of...

Years after halting its services, the saga with BitConnect has taken another turn as the SEC has filed an action against the founder and some of the promoters. The Commission has alleged that they have swiped more than $2 billion from retail investors through an unregistered offering of digital assets. The SEC Files Charges Against BitConnect Founder Launched in early 2016, BitConnect promoted itself as a platform with a highly advanced trading bot that urged users to deposit...