Tag Archives: crypto scams

Yesterday, the United States’ Department of Justice filed a complaint to seize 280 cryptocurrency accounts operated by notorious North Korean hackers. They allegedly stole millions of dollars worth of crypto assets from two cryptocurrency exchanges and also sought the help of Chinese OTC traders to launder the funds.US DOJ Moves To Seize Cryptocurrency Accounts of North Korean HackersIn a civil forfeiture complaint, America’s apex house of justice moved to disrupt the nexus between North...

Police have reportedly arrested a Russian man for an attempt to recruit an employee in Nevada to plant malware on a Company’s network. In return, he promised him up to $1 million in cash and Bitcoin.The Offstage Attacker Was Reportedly Part Of A Larger OrganisationAs per the published court documents, Egor Igorevich Kriuchkov has allegedly offered a Nevada company’s employee the sum of $1 million, portioned in cash and Bitcoin. The plot was simple – the employee had to install malware onto a...

Empire Market, the largest crypto darknet marketplace, has abruptly shut down. No communication was issued from the admins who seem to have siphoned away with user funds amounting to around $30 million in BTC. From the looks of it, this appears to be a pretty massive exit scam.Empire Market Exit Scams With 2638 BTC Worth $30 MillionAccording to the latest update from an anonymous journalist, “DarkDotFail” who tracks darknet activities, Empire Market, the largest cryptocurrency accepting...

Police in Seoul has forayed the offices of one of the biggest crypto exchanges in South Korea, Coinbit. Allegedly the firm has faked more than 99% of its trading volume.Coinbit Banks Over $85MAccording to a recent news report, authorities stormed the offices of the company early today. The suspicion is that Coinbit has manipulated users, faking a large portion of its trading volume. This has allegedly earned the exchange $85 million in illegal income during the process.The Seoul Metropolitan...

DeFi tokens continue to flood the markets as developers are minting new coins and listing them on Uniswap every day.While this might present an earning opportunity for some, the number of the so-called ‘rug pulls’ is also on the rise. Investors need to be extremely careful and selective when it comes to the tokens they put their money into.Rug Pulls: The Plague of UniswapUniswap is a protocol that allows buyers and sellers to swap ERC20 tokens without the use of an exchange or order book. It...

A newly-detected scam has been luring users into a Bitcoin scam, Abnormal Security reports. The cybersecurity firm informs that cybercriminals have been impersonating the popular Bitcoin Era trading platform to attract investors, while actually infecting their online devices with malware.Emails, Mimicking BTC Era PlatformThe automated scam emails, which many users have reportedly received, were intended to deceive them through a visual similarity to the leading cryptocurrency platform BTC...

The U.S. Commodity Futures Trading Commission is reportedly after the owner of a crypto scheme, which misled over a thousand of its investors and clients. It seeks $572 million in financial penalties and restitution.$270M Worth Of BTC Stolen From More Than A Thousand CustomersАs per a recent report, the alleged Bitcoin trading pyramid Control-Finance has reportedly defrauded more than a thousand clients of the firm “since at least May 1, 2017”. Its owner Benjamin Reynolds is included in the...

It looks like crypto scams are far more prominent than we originally thought, according to a new research paper.Crypto Scams Are Pretty CommonAnalysts at the University of Technology in Sydney and the Stockholm School of Economics have announced that crypto scams are taking place everywhere and all the time. We just need to know where to look. Ultimately, these scams are accumulating millions of dollars in dirty money virtually every month, and not enough is being done to keep people safe.The...

The United States Department of Justice (DOJ) has filed a complaint against an alleged cryptocurrency Ponzi scheme to forfeit over $7 million in Bitcoin and Tether.The administrator of the scam called the “Banana Fund” has used some of the raised funds for personal benefits, including purchasing a house.DOJ Against Banana Fund Ponzi SchemeAccording to the official complaint, the administrator of the alleged scam marketed the company to potential investors as a platform for startups to post...

Forty-year-old Russian computer expert, Alexander Vinnik, allegedly supervised and operated a Russian cryptocurrency exchange called BTC-e from 2011 to 2017.The alleged fraudster is also wanted by Washington and Moscow, according to statements from his lawyer and recent reports.Extradition Tussle: France, Russia, and AmericaVinnik was arrested in Greece in 2017 at the request of the U.S. on suspicion of laundering as much as $4 billion through BTC-e. He was extradited from Greece to France in...