Tag Archives: crypto scams

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...

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...