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.
In a concerning development for the crypto community, an adept scammer has executed a phishing scam on the Blur marketplace, making off with non-fungible tokens (NFTs) valued at approximately $239,676. The victim, known as 0xQuit on X (formerly Twitter), reported the theft. That involved six Bored Ape Yacht Club NFTs,
Amidst the growing influence of celebrities in the cryptocurrency market, concerns over regulatory oversight and financial transparency have intensified. Renowned crypto expert ZachXBT has publicly criticized prominent figures like football legend Ronaldinho, American model Amber Rose, and rapper G Herbo for their involvement in promoting memecoins, which he categorizes as
Solana, hailed as the top blockchain of 2024, is facing both accolades and scrutiny as it grapples with significant highs and alarming lows. Despite impressive wins, the ecosystem gets stuck with challenges and recurrent scrutiny, drawing praise and criticism alike. Additionally, with Solana’s remarkable trading volume exceeding $2 billion in
Crypto analytics platform Nansen is grappling with a wave of phishing scams targeting its users. Numerous individuals have reported receiving fraudulent emails promoting an attractive “Nansen Airdrop,” allegedly offering an exclusive opportunity for participation. However, CEO Alex Svanevik took to X (formally Twitter) and “warned users” that there is “no
While crypto enthusiasts are currently rejoicing in the market’s upward momentum, there are still individuals who haven’t moved on from the challenges of Q3 2023. The quarters of July, August, and September of 2023 marked a bear-driven phase with staggering losses across the Web3 ecosystem. In total, $685,510,444 was lost
September 2023 has seen a series of high-profile cryptocurrency hacks, with the Lazarus Group, a North Korean hacking collective, emerging as a key player in siphoning off millions of dollars in digital assets. These incidents have sent shockwaves through the crypto community, leaving investors and enthusiasts grappling with the aftermath.
