Tag Archives: fbi

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The high number of fake crypto trading apps has earned the attention of the Federal Bureau of Investigation (FBI). The organization is now issuing warnings to traders saying they need to do their due diligence before utilizing a crypto investing platform or application so that they don’t fall victim to potential scams. The FBI Is Noticing a Lot of Fake Crypto Apps The FBI says since the beginning of 2022, nearly 30 separate individuals have lost close to $4 million after...

Satish Kumbhani – the founder of cryptocurrency investment company Bit Connect – has been charged with conspiracy to commit wire fraud and conspiracy to commit commodity price manipulation amongst other crimes. Bit Connect Is Facing the Call of Justice Bit Connect is believed to have been at the forefront of a $2.4 billion crypto Ponzi scheme. U.S. attorney Randy Grossman for the Southern District of California explained in a statement: This indictment alleges a massive...

Deputy Attorney General Lisa Monaco says that a new division of the Federal Bureau of Investigation (FBI) has been formed to crack down on cyber fraud and tackle bad actors in the crypto space. Lisa Monaco Says Crypto Security in the U.S. Is a Big Deal The United States as of late appears to be putting the crypto industry at the forefront of its priorities list, though this hasn’t always been a good thing. The recent infrastructure bill passed last summer, for example,...

Experts at the Portland division of the Federal Bureau of Investigation (FBI) are telling people what they can do to avoid cryptocurrency scams, which have seemingly become much more prominent and aggressive over the past few years. The FBI Says Crypto Scams Are On the Rise It seems like crypto-based crime has become a serious issue given that the prices of many leading digital currencies such as bitcoin have surged in recent years. Just two months ago, the world’s...

Federal prosecutors in the city of San Diego, California have filed a lawsuit to seize more than $150 million in funds that were illicitly seized from the Sony Life Insurance Co. in Japan. The money was transferred through the La Jolla Bank and converted into crypto, where it was later stored in a Coinbase account. Sony Has Been the Victim of a Major Theft The seizure order was issued after the Federal Bureau of Investigation (FBI) took back nearly 4,000 units of bitcoin...

It looks like fraud involving digital currency ATMs in the U.S. is shooting through the roof. Now that the entire space is worth approximately $3 trillion, many illicit players are seeking to take advantage of those who have saved up their assets, and ATMs are playing a huge role in the jump in crime. Crypto Fraud Using ATMs Has Gotten Bad There are more than 26,000 crypto-based ATMs in the U.S. alone. When one considers that there were only a little more than 4,000 in...

The Federal Bureau of Investigation (FBI) has issued a serious warning against cryptocurrencies like bitcoin and has told individuals not to get involved unless they are fully aware of the risks. The FBI Is Warning Against Crypto Use The bitcoin and cryptocurrency space has attracted a huge wave of malicious cyberactivity over the past year. Bitcoin and several other digital assets have seemingly shot up in price, and while things may not be looking stellar at press...