Tag Archives: Security & Ransomware

Crypto crime is no laughing matter and as we have seen in the past, it can take on many forms. It does not always come in the shape of a cyberattack or a hack on an exchange. Rather, sometimes people will try to use crypto to hide their malicious intent. Crypto Crime Isn’t Always a Hack One recent case allegedly involves a man in Rome, Italy, who is presently under house arrest after being accused of paying an attacker approximately $12,000 in BTC to maim his ex-girlfriend. Police claim that...

Considering how common crypto scams have become in recent years, it is quite easy to get stuck in one, but when someone with “status” comes out and promotes one of these scams, it can be a little difficult to take at first. Matt Lorion – a 17-year-old Tik Tok influencer – is now apologizing to all his fans after he promoted a potential crypto scam that saw people lose some serious money. Matt Lorion: I’m Sorry for Promoting Mando Lorion has made a name for himself...

The world of cryptocurrency scams is expanding like there’s no tomorrow. Vancouver police have just issued a warning after the emergence of two new digital currency-based scams that have already stolen as much as $2 million over the past few weeks. Crypto Scams Are a Big Deal This month, we have seen more evidence of cryptocurrency scams entering our midst. One man claims to have lost hundreds of thousands of dollars to one such venture that involved a Twitter account...

Crypto intelligence company Cipher Trace has announced the release of “Cipher Trace Traveler,” a new Travel Rule designed to assist virtual asset service providers (VASPs) such as exchanges, OTC trading desks and banks in becoming more compliant with financial regulators. Cipher Trace Is Bringing About a New Travel Rule Initial travel rules were suggested by the Financial Action Task Force (FATF), which work to ensure all monetary businesses out there are doing what the...

There is still much concern amongst government regulators surrounding cryptocurrency fraud and illicit usage. Everyone is so terrified that cryptocurrencies are being used to commit crimes and engage in wrongful behavior, but according to a new report issued by Citibank, this really isn’t something that people need to be so concerned with, as fraudulent activity involving bitcoin and its digital cousins has gone down significantly over the past few years. Citibank:...

Social network Gab saw itself going offline for a short period after some of its employees discovered bitcoin spam messages infiltrating the network.Gab Sees Bitcoin Spam Enter the ForumBitcoin spam has been rather prominent on social media these days. Last year during the summer, the world was shocked when it was found out that many high-profile accounts – including those of former president Barack Obama, his vice president Joe Biden, South African Tesla and SpaceX executive Elon Musk and...

New York Attorney General Letitia James has announced plans to file suit against a cryptocurrency trading app known as Coinseed, which she claims has been fraudulent and cheating its investors.Coinseed Will Face Action from New York LawmakersCrypto crime is a serious problem and has been around since the world of digital currency was first brought to international attention roughly 12 years ago. The crypto space has been filled to the brim with theft and cyberattacks that ultimately leave...

No doubt that with bitcoin and the establishment of the crypto space about 12 years ago came the furthering of financial crime. To this day, many analysts and industry experts express concern regarding the amount of money laundering and other forms of criminal behavior that continue to rock the crypto space and drag it further away from legitimate or mainstream territory.Is Money Laundering as Big a Problem as We Thought?The good news is that while the crime may seem widespread and heavy, new...

Lost or forgotten passwords to bitcoin and cryptocurrency accounts typically lead to money that cannot be accessed, and according to German prosecutors, this appears to have hindered a recent case of criminal fraud involving bitcoin mining.Lost Passwords Remain a Serious IssueAt the time of writing, law enforcement agents in Germany are holding a man – who currently remains anonymous – that has stored as many as 1,700 bitcoin units in a specific account. The big clincher is that the man...

If you trade or invest in cryptocurrencies, then you’re probably no stranger to stories of crypto crime, and the latest incident involves an Australian national named Stefan He Qin, who at the time of writing, is accused of stealing as much as $90 million in digital asset funds from various investors.Stefan He Qin May Have Embezzled User FundsStefan He Qin is the founder of two crypto hedge funds: Virgin Sigma Fund LP and VQR Multi-Strategy Fund LP. According to a report issued by the U.S....