Crypto Scammers Face Crackdown: ASIC Pulls The Plug On Over 600 Fraudulent Sites

As crypto scams have rapidly increased over the past few years, crypto crackdowns in different regions have intensified. Highlighting this is the move from the Australian Securities and Investments Commission (ASIC), which has recently stepped up its crackdown on fraudulent activities online by unplugging several scam-related websites.

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Assessing the details of this latest Ponzi scheme amid the current market state

A 27-year-old investment manager from Ohio was arrested on 18 November for allegedly running a crypto Ponzi scheme. This fraudulent cryptocurrency investment scam raised at least $10 million from inveThe post Assessing the details of this latest Ponzi scheme amid the current market state appeared first on AMBCrypto.

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Orbeon Protocol aims to protect users from scams and rug-pulls

Recent years have seen a proliferation of scams in the crypto industry, with investors losing billions of dollars to fraudulent projects. The industry's decentralized nature has exacerbated the probleThe post Orbeon Protocol aims to protect users from scams and rug-pulls appeared first on AMBCrypto.

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British Bank Santander To Block Transfers To Crypto Exchanges In 2013

As part of measures to protect consumers from fraudulent activities, Santander will restrict UK customers from transferring real-time payments to cryptocurrency exchanges beginning in 2023, Reuters reported, citing the bank’s Friday email statement.

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CFTC Issues Order Against Fraudulent Crypto Arbitrage Company

The Commodity Futures Trading Commission (CFTC) has issued an order against the CEO of a fraudulent crypto trading firm "Abritraging.co."

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Is 2022 the "year of crypto hacks" as this attempt makes it to the "Hacktober" list

A group of individuals hacked the official Twitter account of cryptocurrency exchange Gate.io, and proceeded with a fraudulent Tether [USDT] giveaway scheme. The hacking effort has put over one millioThe post Is 2022 the "year of crypto hacks" as this attempt makes it to the "Hacktober" list appeared first on AMBCrypto.

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Mastercard launches new product to help banks combat crypto-related crime

Mastercard announced it would debut a software product that helps banks detect and block fraudulent transactions from going through crypto exchanges, according to a report on October 4, 2022. The post Mastercard launches new product to help banks combat crypto-related crime appeared first on CryptoSlate.

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Mastercard Unveils Secure Tool To Fight Growing Crypto Fraudulent Activities

Amid the growing frauds in the crypto sector, the multinational financial service organization, Mastercard, has unveiled a new feature to prevent and detect crypto-related fraud operations within its network.

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Taliban Targeting Afghan Crypto Users

Afghan police forces are targeting crypto dealers for trading what is now considered fraudulent digital currencies by the nations central bank. “Fraudulent” Currencies The Taliban is coming for crypto owners....

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Chargebacks: A Big Problem for Crypto Exchanges. Here’s the Fix

Chargebacks: Digital currency marketplaces need to defend against fraudulent transaction disputes, which are a rising problem. The post Chargebacks: A Big Problem for Crypto Exchanges. Here’s the Fix appeared first on BeInCrypto.

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How The SEC Uncovered A $300 Million Crypto Pyramid Scheme

According to a press release issued by the U.S. Securities and Exchange Commission (SEC) on August 1st, eleven people have been charged for their roles in creating and promoting Forsage, a fraudulent crypto pyramid and Ponzi scheme that brought up more than $300 million from millions of retail investors across the globe. The decentralized finance (DeFi) […]

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US SEC charges 11 for role in $300M Forsage crypto pyramid scheme

The US Securities and Exchange Commission (SEC) charged eleven people on August 1 for their involvement in Forsage, a fraudulent crypto pyramid scheme that raised $300 million from investors around the world.

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SEC charges 11 people over $300 million crypto Ponzi scheme

The US Securities and Exchange Commission (SEC) has announced that it has filed charges against 11 individuals in connection with a fraudulent crypto project that raised over $300 million from investors across the world.

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U.S. Senator seeks safeguards disclosures from Apple, Google amid rise in fake crypto apps

United States Senator Sherrod Brown (D-Ohio) sent letters to Tim Cook, CEO of Apple, and Sundar Pichai, CEO of Google and Alphabet on July 28, asking for information about what the companies are doing to protect users from fraudulent cryptocurrency apps.

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FBI detects fake crypto apps that scammed $42.7M from 244 victims

The United States Federal Bureau of Investigation (FBI) detected three fake crypto apps that stole around $42. 7 million from 244 victims between October 4, 2021, and May 13, 2022, and recently issued a public warning against such fraudulent applications.

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FBI releases advisory on fraudulent crypto apps

With crypto-based cyber fraud victims having lost more than $42.7 million so far, the…

The post FBI releases advisory on fraudulent crypto apps appeared first on CoinJournal.

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Six Charged with NFT and Crypto Fraud Schemes Worth Over $130 Million

This week US prosecutors announced that six people have been indicted in four fraudulent NFT and crypto schemes involving more than $130 million in losses to investors. Included in the indictments were a Ponzi scheme, an ICO, investment fraud and an NFT scam.

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NFT, DeFi and crypto hacks abound — Here’s how to double up on wallet security

Falling prey to a fraudulent link can be devastating to one’s personal investment portfolio. Here are three ways a hard wallet can protect you.

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Richard Branson Targets Tech Firms Hosting Fraudulent Crypto Ads

British tycoon Sir Richard Branson, a known bitcoin advocate, targets tech firms publishing fraudulent crypto schemes using his name. The post Richard Branson Targets Tech Firms Hosting Fraudulent Crypto Ads appeared first on BeInCrypto.

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Richard Branson ramps up efforts to end crypto scams using his name

Richard Branson, the founder of the Virgin Group, is looking to stop the use of his name in fraudulent crypto schemes, the British billionaire disclosed in an interview. The post Richard Branson ramps up efforts to end crypto scams using his name appeared first on CryptoSlate.

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Elon Musk Reacts to His Deepfake Promoting Crypto Scam

An Elon Musk deepfake is promoting a fraudulent cryptocurrency platform

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New Zealand Police investigate allegedly fraudulent crypto platform Quwiex

The Auckland City Financial Crime Unit is investigating Quwiex Limited, a self-proclaimed crypto platform, after multiple reports from victims that the platform is a scam, according to an RNZ report.

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Meta Sued Over Crypto Scam Ads in Australia

An Australian regulator claims that Facebook has not done enough to remove fraudulent cryptocurrency ads from its platform

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Japan Exchange Group alerts against imposter crypto trading platforms

Japanese investors are advised to look out for fraudulent companies replicating the JPX brand names, logos and URLs to offer crypto trading.

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Crypto YouTubers fall victim to hacking and scamming attempt

Many of the affected accounts noticed the fraudulent videos and removed them from their channels within minutes of them being posted.

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Crackdowns On Crypto And NFTs From UK Regulators To Intensify In 2022

A gloomy 2022 is looming for UK-based crypto and NFT enthusiasts after regulators reportedly vowed to crack down on the industry over fears that young people risk losing their money to fraudulent schemes.

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A fake Instagram account caught conducting crypto fraud

The cryptocurrency industry is no stranger to scams and fraud, unfortunately, as bad actors were a part of it ever since Bitcoin (BTC/USD) first got its value. With that said, there has been a new trend among the scammers who are using stolen photos to make fake Instagram accounts and scam people by pushing fraudulent […] The post A fake Instagram account caught conducting crypto fraud appeared first on Invezz.

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Crypto DeFi crime hit $10.5 billion in 2021, research shows

Fraudulent activities have been running rampant on Decentralized Finance (DeFi) platforms, according to new research conducted by crypto analysis firm Elliptic.   The losses have amounted to up to $10.

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Fraudulent Crypto Entities Shut Down by New Jersey Watchdog

A handful of online crypto trading entities, namely Bulk Investments, Forte Trade Limited, Dilna Investments Ltd. cheated New Jersey investors out of nearly $100,000. The post Fraudulent Crypto Entities Shut Down by New Jersey Watchdog appeared first on BeInCrypto.

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The Monopoly Of Binance Smart Chain Projects And Luto Cash

While the world ponders over legalizing cryptocurrencies, the biggest obstacle remains security. Time after time, crypto investors are faced with fraudulent products that result in significant monetary losses.

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Cryptocurrency and credit card fraud: Q&A with n.exchange

n. exchange is a cryptocurrency exchange specializing in fiat on- and off-ramp to make crypto investment user-friendly. Their current campaign to combat credit card fraud in cryptocurrency highlights a significant rise in fraudulent purchase attempts by cyber criminals using stolen card details, most of which was perpetrated from countries in the Western hemisphere.

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Brazil’s Police Force Seizes 591 Bitcoin In Country’s Largest Crypto Seizure

The Brazilian Police Force confiscated 591 bitcoin amounting to 150 million Brazilian real (about $28.6 million) in a crackdown on a suspected fraudulent scheme. According to a CNN Brazil report, federal police as part of “Operation Kryptos” – an ongoing investigation of an alleged financial pyramid scheme arrested 5 persons in connection with the crime […]

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U.S. Congressman Says Courts Should Be Allowed to Reverse Crypto Transactions

U.S. Congressman Bill Foster claims that judicial powers have to unmask crypto users and reverse fraudulent transactions

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Six People Connected to a $36M Crypto Scam Arrested, Scheme Operated From Multiple Locations in Europe

Authorities in Germany launched a massive operation that cracked down on a sophisticated crypto scam, resulting in the arrest of six people in different European countries. Initial reports state that such a fraudulent scheme stole over $36.

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The DApp List Raises $1.9M from Ecosystem Investors to Bring Scam-Free Crypto Experience

May 7, 2021 Tortola, BVI — The Dapp List, focused on rooting out fraudulent projects, has completed a $1.9 million funding round led by notable investors and angels in the cryptocurrency space. Venture and investment funds that joined include CMS Holdings, YBB foundation, LD Capital, Bitscale Capital, BR Capital, GenBlock, SL2 Capital, and Double Peak.Read More

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Cardano (ADA) intensifies efforts against scams with launch of new task force

Cardano (ADA) has rolled out a task force to fight fraudulent activities and scams. The launch is coming after a recent report of an increased spate of fraud within the crypto industry. Cardano founder Charles Hoskinson said he has been frustrated by the high levels of scams within the industry and thinks his company can […] The post Cardano (ADA) intensifies efforts against scams with launch of new task force appeared first on Invezz.

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Florida man escapes paying a $4.5M SEC penalty over a crypto Ponzi scheme

The founder of the Argyle Coin Ponzi scheme has escaped paying a $4.5 million penalty to the SEC for operating a “web of fraudulent companies.”

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Texas Issues Orders to Stop ‘Binance Assets’ and 2 Other Fraudulent Crypto Investment Platforms

The Texas securities commissioner has entered emergency cease and desist orders to stop three cryptocurrency investment platforms from duping investors in the state. One scheme operates under the name “Binance Assets.

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Ripple Wants SEC to Treat XRP the Same Way With Bitcoin and Ethereum

There is no shortage of stories of the Securities and Exchange Commission in the United States (SEC) being at loggerheads with various firms in the crypto industry. The commission has had lawsuits with Telegram and Ripple and has spent years persecuting various fraudulent schemes in the industry.

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Founder of the crypto Ponzi promoted by Stephen Segal arrested in USA

US law enforcement agencies detained the organizer of fraudulent crypto Ponzi schemes, one of which was promoted by Hollywood actor Stephen Seagal.

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Nasdaq-Listed Crypto Firm Sued, Accused of Defrauding Investors With Fake Bitcoin Mining Business

A class-action lawsuit has been filed against a Nasdaq-listed bitcoin mining company. The suit cites a report claiming that the business is “completely fraudulent,” with nonexistent bitcoin mining operations.

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Dirty Bitcoins: How to Conduct an Anti-Money Laundering Check on Your Crypto

What is a dirty bitcoin? A coin is considered “dirty” if it’s been involved in any illicit activity such as: Crypto crimes like wallet or exchange hacks; Money laundering, which includes criminals trying to hide the proceeds of their illegal activities by converting them into crypto (spoiler: it doesn’t work); Scams such as fraudulent schemes … Continued The post Dirty Bitcoins: How to Conduct an Anti-Money Laundering Check on Your Crypto appeared first on BeInCrypto.

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The CFTC Asks Court to Issue Fines in Excess of $100M Against Mastermind of a Fraudulent Crypto Scheme

The Commodity Futures Trading Commission (CFTC) has filed a motion with the New York Southern District Court that seeks heavy penalties against Michael Ackerman, the mastermind of a fraudulent cryptocurrency scheme.

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SEC puts assets of fraudulent crypto arbitrage fund on hold

The Securities and Exchange Commission (SEC) is currently looking into the Australian fund manager… The post SEC puts assets of fraudulent crypto arbitrage fund on hold appeared first on Coin Journal.

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Man Gets 6 Years for $25M Diamond and Crypto Ponzi Scheme

Jose Angel Aman, charged with operating the fraudulent investment scheme, was sentenced to serve six years in federal prison and pay over $23 million in victim restitution by a federal court in Florida.

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Another Asian Crypto Exchange Suspends Withdrawals as China Detains One of Its Founders

Chinese authorities are launching a national crackdown against fraudulent SIM card and bank account schemes. The latest detained under this operation is one of the founders of a Hong Kong-based cryptocurrency exchange CEO Global (ceobi).

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Fraudulent Crypto Browser Extension Redirects to a Fake Metamask Domain

A crypto intelligence firm has raised red flags about an increasing flow of comments in the crypto community about an ongoing phishing campaign, which is stealing funds from people who install a malicious browser extension.

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Hong Kong Crypto Exchange Founder Taken Amid China’s Crackdown on Fraudulent Bank Accounts

The platform will close all its over-the-counter (OTC) trading services because of the risks related to uncertainties from China’s regulatory policies/

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Chainalysis Announces Program for Managing Seized Crypto Assets

With government agencies confiscating massive amounts of crypto from criminal enterprises, Chainalysis has developed a program to aid in the admin of these seized digital assets. The news marks a major development in crypto-asset realization, especially against the backdrop of restitution in cases where forfeited cryptocurrencies are part of a fraudulent scheme.

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