Tag Archives: crypto scams

Another cryptocurrency-related scam led to the arrest of 14 Chinese men near Singapore. By impersonating successful investors, the perpetrators tricked victims using chat groups in popular Chinese messaging apps into sending them digital assets. 14 Chinese Men Arrested For A Crypto Scam According to a recent local report, the Chinese men conducted the fraudulent operation for at least two months. Authorities were surveilling the group for the past several weeks. They made the arrests On...

The Federal Bureau of Investigation (FBI) has issued an official warning regarding the increasing number of COVID-19 scams involving cryptocurrencies. The agency outlined various fraudulent activities, including blackmail attempts, work from home fake ads, and investment scams.FBI: Beware Crypto And COVID-19 ScamsThe sudden COVID-19 outbreak caused numerous disruptions in regular day-to-day life. Millions of confirmed cases worldwide, entire nations under lockdown led to people losing jobs...

Funds sent to cryptocurrencies scams exploiting the COVID-19 pandemic have decreased since the start of March. Scammers are using mostly phishing and blackmail emails, but their efforts have not marked much success as of late.Crypto COVID-19 ScamsAside from the many positive features cryptocurrencies possess, they are also sometimes involved in suspicious and fraudulent activities. The sudden outbreak of the coronavirus attracted numerous scams where the perpetrators requested digital assets...

The list of famous individuals used in cryptocurrency-related scams grows with the Duke and Duchess of Sussex – Harry and Meghan. Scammers used their well-known names to dupe victims into investing in a suspicious auto-trading program called Bitcoin Evolution.Fraudulent Ads With Harry And MeghanAfter Bill Gates, Warren Buffett, and Richard Branson, now Harry and Meghan are the next famous people having their names used in cryptocurrency scams. According to a report, ads containing seemingly...

Darknet markets are seeing increases of suspicious merchandise advertised to protect or even fight the COVID-19 pandemic. The sales are conducted in several countries using bitcoin and other cryptocurrencies as the primary payment method.Selling Coronavirus Merchandise Via CryptoThe rapidly expanding novel virus scared a lot of people, and they rushed to purchase protective gear such as N95 respirator masks. Naturally, the increased demand and the limited supply boosted the price of the...

A new fraud involving Bitcoin QR code generators has seen more than $45,000 worth of BTC stolen from victims in the last month alone. At least nine websites deceived users into entering their Bitcoin addresses and converting them into a QR code image, which ultimately sent the coins into the scammer’s account.Beware: Bitcoin QR Code ScamsGenerally, Bitcoin QR codes replace the lengthy BTC addresses consisting of numbers and letters. By sharing the code, users can request a payment from...

The coronavirus outbreak has already become a pandemic and continues to spread around the world. While many users are already worried about their physical safety and health, hackers are now also exploiting the outbreak to launch a variety of attacks and scams.Recently, hackers have been reported to have weaponized coronavirus map websites and apps. Users who visit these sites or download the apps in hopes of tracking reported cases of coronavirus infections may find their devices infected...

Two Canadian citizens were sentenced to 24 months in federal prison in the U.S. after conspiring to commit wire fraud and money laundering in a scheme to steal bitcoins from an Oregon citizen. The perpetrators posed as employees from the popular cryptocurrency exchange HitBTC and used a fake Twitter account to deceive the victim.Bitcoin Fraud Using A Fraudulent Exchange AccountAccording to the statement shared by the District of Oregon, the two perpetrators are Karanjit Singh Khatkar (23) and...

Fraudsters are profiting from the ignorance of people who are new to cryptocurrencies, especially in developing countries. These scammers know just how well to capitalize on the 2017 bull run as they promise investors huge returns within a short period.  According to local media in Nigeria, the country’s law enforcement agencies are seemingly helpless as large scale fraudulent cryptocurrency firms victimize millions of unsuspecting Nigerians. Escaping The Failing EconomyGreed may be a common...

One of the most significant cryptocurrency fraudulent projects from the past few years recently tried to launder another 13,000 bitcoins. To do so, the perpetrators used numerous mixing services. Shortly after, the price of Bitcoin plunged by $500 in a matter of hours, and the question remains if this is the reason behind the drop.PlusToken Laundered 13,000 BTCAccording to the crypto Analyst ErgoBTC, PlusToken deposited approximately 13,000 bitcoins directly to mixing services in the past 24...