South Korean police have apprehended 215 individuals tied to a large-scale cryptocurrency investment scam, responsible for defrauding over 15,000 people and causing losses of 325.6 billion won ($232 million). The investigation, led by the Gyeonggi Southern Provincial Police Agency’s Anti-Corruption and Economic Crime Unit, revealed the scam ran from December
A Gigachad (GIGA) token investor lost $6.09 million after falling victim to a phishing attack through a fake Zoom meeting link. The large-scale sell-off caused an unusual price drop in the GIGA token on November 12, sparking community speculation before prominent investor “Still in the Game” confirmed the incident. In
The Sui (SUI) token has seen a remarkable rally, gaining over 120% in the past month to trade at $2.25 as of October 14. This surge, while impressive, has stirred controversy, as allegations of insider selling have surfaced, casting a shadow over the token’s performance. Crypto analyst Light, in a
In a recent post on X, Banana Gun announced plans to refund $3 million stolen from users affected by a Telegram bot exploit last week. The incident impacted eleven users, with hackers stealing 563 ETH from 36 separate wallets associated with the bot. Notably, Banana Gun confirmed that no tokens
The FBI’s Internet Crime Complaint Center (IC3) has revealed a sharp rise in cryptocurrency-related fraud. Americans lost $5.6 billion in 2023—a 45% increase from the previous year. The IC3’s annual report recorded over 69,000 complaints, underscoring the growing exploitation of digital currencies in various scams. Investment fraud was the most
Angel drainer is a notorious code used on web3 crypto phishing sites. This crypto app is back with a new upgraded version. This version has already deployed hundreds of malicious dApps. A recent report by cybersecurity firm Blockaid has uncovered a rise in scams utilizing deepfake videos of high-profile figures
The Former CEO of Kankas Heartland Tri-state Bank is sentenced to 24 years in prison. You reap what you sow is now vividly seen in the actions of Shan Hanes. The ex-CEO of failed Heartland Tri-state Bank who fell for a crypto scam, is now facing consequences for his wrongdoings.
Australia’s financial markets regulator (ASIC) has launched a major effort to combat online investment fraud. ASIC has announced the removal of more than 7,300 scam websites in its first year of operation. The Australian Securities and Investments Commission (ASIC) revealed on August 19, 2024, that it has successfully dismantled 5,530
Recently, Chainalysis’s “ Operation Spincaster” revealed that over 2000 crypto wallets have been compromised by “approval phishing scams” in Australia. The Australian Federal Police (AFP) is examining the financial losses from these attacks impacting a large number of users. Approval of phishing scams involves deceiving users into authorizing fraudulent transactions.
Blockchain analytics firm Elliptic has released a report accusing the Cambodia-based marketplace Huione Guarantee of enabling money laundering and other illicit activities. Since its inception in 2021, crypto wallets associated with Huione Guarantee and its independent merchants have reportedly received over $11 billion, which is suspected of involving fraudulent transactions.
