As a bold step against cryptocurrency fraud, the U.S. Department of Justice (DOJ) has declared that it has forfeited around $2.5 million in cryptocurrency, all of which is tied to fraudulent investment scams that took advantage of growing public interest in the crypto sector. The DOJ’s May 23 announcement is
South Korea has arrested 25 individuals linked to coordinated fake cryptocurrency investment scams targeting retail investors. The arrests were made in Jeju, where authorities uncovered four interconnected fraud rings. These groups operated under the appearance of legitimate investment firms, using call centers to pose as crypto advisors. Their tactics included
Binance co-founder Changpeng Zhao (CZ) has urged Elon Musk to ban automated bot accounts on X. He called for disabling API posting, which allows automated accounts to post content. CZ emphasized that bots flood the platform with spam, impersonation, and scams. In a March 9 post, CZ said users could
On 5th January 2025, police in Dong Nai Province, Vietnam, arrested four suspects. A gang defrauded over 200 victims of nearly 4 billion Vietnamese dong worth, that is $157,300. The leader of the gang was Tran Minh Quang; they set up a website called BitMiner to mine cryptocurrencies. They registered
A California resident, Ken Liem, has filed a lawsuit against three Asian banks for failing to prevent a cryptocurrency scam that cost him nearly $1 million. The legal filing in a California district court on December 31, 2024, alleges negligence and lack of due diligence by the banks. Liem became
On September 19, PeckShield, a blockchain security firm, reported that the official Decentraland X account had been hacked. Attackers are now circulating a phishing link disguised as a MANA token airdrop. This deceptive link redirects users to a fraudulent website, where they are prompted to connect their wallets to claim
US-based ETF giant BlackRock recently announced that there has been a notable rise in scammers targeting its ETF investors. The asset management firm has issued several ETP products including a spot Bitcoin ETF and a spot Ethereum ETF, launched in 2024. Notably, the asset management firm announced in its X
In the past several months, cryptocurrency scams have seen a sharp surge at the global level. Recently, leading Indian crypto exchange WazirX was hacked leading to the compromise of user funds. Notably, the country’s Narcotics Control Bureau (NCB) recently released a report on the Drug cases. According to the NCB
In a May 15 Reddit Ask Me Anything (AMA) session, the US Secret Service’s (USSS’s) San Francisco Division and the Bay Area Regional Enforcement Allied Computer Team (REACT) shared their efforts in safeguarding the nation’s financial infrastructure, particularly in the realm of cryptocurrency. The Secret Service, known for protecting US
Crypto scammers using Richard Branson’s name to trap naive crypto investors. Virgin Galactic Holdings accepts bitcoin as a payment method. Richard Branson is a billionaire and founder of the Virgin Group, which owns over 400 companies. Since he has shown support for bitcoin Richard fed up with crypto scammers who
