Americans lost over $5.6b in crypto scams in 2023, FBI says

Crypto-related scams and fraud surged last year, with losses skyrocketing 45% in 2023 compared to the previous year, according to a new FBI report. As crypto gains popularity in the United States, it also brings a rise in crypto scams.…

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Jebara Igbara, AKA 'Jay Mazini,' Sentenced to 7 Years in Prison for Crypto-Related Fraud

Igbara perpetrated multiple fraud schemes and scammed investors of at least $8 million.

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FBI cybercrime report reveals crypto investment fraud in the US rose 53% YoY

The FBI’s Internet Crime Complaint Center (IC3) has released its 2023 report, revealing a significant rise in crypto-related fraud and the use of digital assets in cybercrime. The 2023 IC3 report serves as a comprehensive overview of the current state of internet crime, including the challenges and risks posed by the use of crypto in […] The post FBI cybercrime report reveals crypto investment fraud in the US rose 53% YoY appeared first on CryptoSlate.

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CFTC Awards $16M to U.S. Whistleblowers; Most Tips Were Crypto-Related

Crypto continues to have pervasive fraud and other illegality, Commissioner Christy Goldsmith Romero said.

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JPMorgan’s UK Subsidiary Chase Bans Crypto Payments Following Surge In Fraud And Scams

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Philippines SEC teams up with US counterpart to combat crypto fraud

The Philippine SEC is now collaborating with the U.S. SEC and the Asian Development Bank to better combat crypto-related crime.

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US CFTC official calls for developing fraud database

CFTC official offers to create a centralized database to strengthen fraud prevention, especially amidst the escalating crypto-related ransomware attacks reported in 2023. Commodity Futures Trading Commission (CFTC) official Christie Goldsmith Romero offered to develop a national registry to make it…

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UK sees over 40% surge in crypto-related fraud cases 

The United Kingdom’s Action Fraud has revealed that cryptocurrency-linked fraud cases have increased in the past year, reaching 306 million pounds ($378 million). Authorities have proposed regulating the UK’s web3 space, like its gambling sector. Despite a significant increase in crypto…

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Leader of Miami Trio Pleads Guilty to $4M Bank, Crypto Fraud Charges

The U.S. Department of Justice last year charged three members of a Miami crew for participating in a crypto-related scheme from 2020.

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OneCoin Crypto Scam Facilitator Irina Dilkinska Faces 40 years imprisonment

Cryptocurrency regulation is getting more challenging in the United States following several cases of fraud and crashes of crypto-related firms. The regulators put up tighter measures with an intensive crackdown on fraudulent crypto schemes.

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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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Apple and Google under radar over fake crypto apps

Apple and Google, two of the most valuable companies in the tech space, are being accused of facilitating crypto-related fraud. These organizations are being pressed for information by U.S. Senator ShThe post Apple and Google under radar over fake crypto apps appeared first on AMBCrypto.

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Apple And Google Under U.S. Senate Scrutiny For Crypto App Fraud

Following a Federal Bureau of Investigation (FBI) warning on crypto-related fraud, a member of the U.S. Senate has questioned two of the biggest companies in the world, Apple and Google. Senator Sherrod Brown (D), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to the CEOs of these companies.   […]

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UK authorities report crypto-related fraud is on the rise

The sum of money lost in reported incidents of crypto fraud so far has…

The post UK authorities report crypto-related fraud is on the rise appeared first on Coin Journal.

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$1.4 million lost in a recent Bitcoin related scam

Cryptocurrency trading has increased worldwide to a significant level. So has the level of crypto-related crime. Reports of crypto-related fraud and scams being run by criminals have been reported toThe post $1.

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UK’s Top Bank NatWest Restricts Transactions to Crypto Exchanges Including Binance

The National Westminster Bank (NatWest) has temporarily imposed a limit on the daily amount that its clients can send to crypto exchanges like Binance, over concerns of rising cases of crypto-related scams and fraud, according to the Bank’s spokesperson.

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Why UK's TSB plans to block customers from sending money to Binance and Kraken?

Using ‘security and exposure to fraud’ as key arguments, this bank in the UK is now making it difficult for its customers to engage in crypto-related transactions. In what is the latest developmenThe post Why UK's TSB plans to block customers from sending money to Binance and Kraken? appeared first on AMBCrypto.

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Crypto Fraud Reports in South Korea Surged Over 41% in 2020, Says Financial Watchdog

Although bitcoin prices plummeted over the weekend, the overall bull-run remains alive, as well as the crypto-related fraud cases in South Korea. The latest figures by the domestic financial watchdog show that such incidents are still on the rise.

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McAfee faces crypto-related fraud charges from NY court

Meanwhile, the anti-virus mogul is still imprisoned in Spain.

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European Parliament Petitioned to Create Crypto Crime Compensation Fund

A petition has been submitted to the European Parliament, asking to implement a scheme to compensate crypto-related victims. The crimes mentioned in the petition 0421/2020 include fraud, piracy, and extortion.

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Report: Crypto-Related Fraud and Theft Resulted in $4.4B Loss in 2019

According to CipherTrace’s latest report, the total volume of crypto-related fraud and theft resulted in losses worth $4.4 billion in 2019

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Belgian Regulator Blacklists Another 9 Crypto Websites Suspected of Fraud

Belgium’s financial watchdog adds another nine suspect sites to its blacklist of crypto-related platforms associated with fraud

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Belgium Watchdog Extends List of Scam Crypto Companies

Belgium’s Financial Services Authority (FSMA) has added new warnings to its list of firms thought to be involved with crypto-related fraud. The financial watchdog has now alerted the nation’s investing public to a total of 121 different scam cryptocurrency-focused investment prospects since it started listing them in early 2018.

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US Authorities Seek Extradition of Alleged Crypto Scammer

The U.S. DoJ has revealed that a recently-arrested investments provider may stand trial in California for committing crypto-related fraud and money laundering

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Bitcoin ATM Pioneer Vancouver Could Ban City’s 76 Crypto Vending Machines

By CCN: Despite being the first location in the world to have a Bitcoin ATM, Vancouver’s authorities are turning against the vending machines. According to The Star, Bitcoin ATMs are under mayoral assault after a surge in criminal activities being conducted through the devices.

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Belgium: FSMA Blacklists Seven More Crypto-Related Fraudulent Websites

On April 4, 2019, Belgium’s financial watchdog, the Financial Services and Markets Authority (FSMA), announced that it had updated a blacklist of cryptocurrency-related websites associated with crimes such as fraud.

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Belgium’s Financial Watchdog Updates Crypto-Related Blacklist to Total of 120 Websites

Belgium’s major financial regulator has added seven new websites to its crypto-related fraud blacklist, previously updated in December 2018

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South Korea Establishes Special Task Force to Prevent Cryptocurrency-Related Crimes

The South Korean Supreme Prosecutors' Office has established a new task force to fight against crypto-related scams and fraud

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South Korean Prosecutors Create Task Force to Combat Crypto Criminals

Seoul prosecutors announced on March 5, 2019, that they are forming a “Task Force” with the sole purpose of fighting off crypto and fintech-related crimes of fraud as reported by the country’s News1 Agency.

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Bitcoin Traders Beware: Group of Robbers Gruesomely Torture Netherlands-Based Crypto Trader

It seems that each month a fresh story surrounding crypto-related scams and fraud surfaces, but the victims of these stories are typically isolated, and the scope of their victimhood is usually limited to financial losses.

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Indian Government Inaugurates National Cryptocurrency Forensic Lab

The government of India has inaugurated a national cyber forensics lab which includes a cryptocurrency forensic lab to perform crypto-related analyses. Alongside this is the inauguration of the Delhi Police’s cybercrime unit which will deal with fraud involving cryptocurrencies.

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Indian Government Inaugurates National Crypto Forensic Lab

The government of India has inaugurated a national cyber forensics lab which includes a cryptocurrency forensic lab to perform crypto-related analyses. Alongside this is the inauguration of the Delhi Police’s cybercrime unit which will deal with fraud involving cryptocurrencies.

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New Action Fraud Data Prompts FCA in the UK to Warn Investors About Crypto Scams

One of the less pleasant parts of cryptocurrency is the rampant scams that are common in the industry. This is true of any emerging industry but The Financial Conduct Authority (FCA) of the UK has issued a warning to investors against dialing for crypto-related scams.

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Google’s Crypto Ad Saga Continues: ‘Ethereum’ May Be Blacklisted

Last March, Google began to take an explicitly anti-crypto stance when it updated its ad policy to prohibit crypto-related advertising. Those changes meant that advertisements discussing ICOs, exchanges, trading, and wallets were off-limits, much to the dismay of blockchain startups.

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Belgian Financial Watchdog Adds 14 Crypto Platforms to Scam Blacklist

Belgium’s FSMA has updated its crypto-related fraud blacklist, which now features a total of 113 sites.

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XRP/USD Price Analysis: Will the US SEC Comment on the Status of Ripple Token?

Latest Ripple News From recent events, the US SEC is definitely alert and “hunting”. Days after news emerge that the regulator had settled with Floyd Mayweather and DJ Khalid for promoting a security token, the regulator tried to issue a preliminary injunction against Blockvest.

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FBI Arrests AriseBank CEO for $4 Million Crypto-Related Fraud

The U. S. Attorney for the Northern District of Texas has announced that the CEO of AriseBank was arrested by the FBI on Wednesday over more than $4 million crypto-related fraud. AriseBank CEO Jared Rice Faces up to 120 Years in Federal Prison, Says U.

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Head of Crypto-Related Scam Faces up to 20 Years in Jail Over Investor Fraud

A 42-year-old Blake Kantor, connected with ATM Coin, plead guilty before a New York federal judge.

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Crypto-Related Scam Targets Muslims with Halal Investment Offerings in India

India’s authorities have recently revealed a nearly year-old Ponzi scheme involving digital coins investments without the consent of investors and a kickback to a high-ranking politician with the aim to whitewash the fraud.

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Four Court Cases Confirm Cryptocurrencies Are Commodities in the US

Cryptocurrencies are commodities, according to four court cases involving the U. S. Commodity Futures Trading Commission (CFTC). A federal judge recently ruled that a token is a commodity, certifying the CFTC’s authority to prosecute fraud and manipulation in the crypto space.

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CEO of GAW Miners, Sentenced to 21 Months in Prison

Homero Joshua Garza, CEO of the infamous crypto-related company GAW Miners, was convicted of fraud and sentenced to 21 months in prison by the Hartford Federal Court. Information published in an article by Hartford Business, says Mr.

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ICO Fraud: NASAA Is Pursuing 200+ Cases Against ICOs As Part of Operation Cryptosweep

The North American Securities Administrators Association (NASAA), with support from various state and provincial securities regulators in Canada and the U. S. , is pursuing more than 200 active investigations of initial coin offerings (ICOs) and crypto-related investment products.

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UK: $2.5 Million Losses in Crypto-Related Scams Reported This Summer

British police have warned the public about crypto-related fraud, revealing $2.5 million worth of losses this summer

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Cornerstone Research and Stanford’s SCAC Show 7 ICO Class Action Lawsuits Already Filed in 2018

A report by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse (SCAC) shows that the number of ICO and crypto-related federal class action lawsuits in the US has increased to seven in the first half of 2018.

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Six People Paid by Korean Exchange Upbit for Reporting Fraudulent Crypto Schemes

A major South Korean exchange, Upbit, has paid six people for reporting fraudulent crypto-related schemes. Japan Confirms Entrance Into the Crypto Space Upbit Paid Users for Reporting Fraud One of South Korea’s largest cryptocurrency exchanges, the Kakao Corp-backed Upbit, has paid six individuals for reporting fraudulent crypto-related schemes. The exchange implemented a bounty system in

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