Following a two-year long investigation, police have alleged that Israeli tech entrepreneur Moshe Hogeg defrauded investors of $290 million. Hogeg and several of his partners are accused of spending the money they collected from Israeli and foreign investors for crypto ventures to lead an extravagant life. Police in Israel Complete Investigation Against Alleged Crypto Scammer…
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The U.S. Securities and Exchange Commission said on Aug. 23 that it had charged a former New Jersey correctional officer “with fraudulently raising funds through the unregistered offering of the blazar token.” The Commission said the correctional officer’s scam was primarily targeted at law enforcement agents and first responders. Replacing the State Pension System With…
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Researchers at San Diego State University have developed an artificial intelligence (AI) system to detect and expose cryptocurrency giveaway scams on Twitter. Dubbed GiveawayScamHunter, the automated system has identified a staggering 95,111 scam lists created by 87,617 accounts on the social media platform between June 2022 and June 2023…. Read More: Researchers Deploy AI to Uncover Crypto Giveaway Scam Schemes…
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Binance CEO, Changpeng ‘CZ’ Zhao has recently provided details on a failed $20 million scam attempt in a bid to keep the crypto community on alert for future occurrences. Crypto Scammers Are “So Good Now,” Binance CEO Says In a tweet on August 2, Changpeng Zhao described a recent scam attempt as “clever,” stating that it…
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The U.S. Secret Service seized multiple corporate accounts last month controlled by Deltec Bank, a Bahamian bank with ties to crypto-related firms. New documents unsealed in a federal court on Monday reveal that the secret service seized several U.S bank accounts controlled by Deltec last month. As per the documents, the amount seized by the…
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Crypto sleuth ZachXBT has alleged YouTuber known as Blue or Jack used NFT drainer tech Monkey and other similar services to steal $1.5 million. ZachXBT’s investigation revealed that the YouTuber was involved in multiple crypto scams and stole millions of dollars. Before turning to crypto scams in 2021, the YouTuber amassed a following of more…
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The former New York Stock Exchange broker Micahel Ackerman has been ordered to pay $54 million in penalties by a federal court for running a crypto fraud, as per a release from the Commodity Futures Trading Commission (CFTC). A judge at the Southern District of New York court has banned Ackerman from trading in any…
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There are growing concerns that scammers will use artificial intelligence (AI) to develop new methods of fraud and deception as the technology continues to advance. One of the primary ways in which scammers are using AI is through social media platforms. By leveraging AI-powered tools, scammers can amplify their reach and create a seemingly loyal…
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Authorities in Australia have charged two individuals accused of operating a cryptocurrency scam that defrauded two companies of $5.5 million. Luxury vehicles worth $2.7 million including a $600,000 Ferrari have been seized by law enforcement. Ferrari Seized From Car Dealer Australian authorities have charged two alleged masterminds of a cryptocurrency scam that defrauded $5.5 million…
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A scam-as-a-service company has siphoned off approximately $6 million worth of crypto assets from unsuspecting users. According to a report from Web3 scam-detecting firm Scam Sniffer, a scam vendor dubbed “Inferno Drainer” has stolen $5.9 million in assets from 4,888 victims across 689 phishing websites targeting popular projects since the start of the year. … Read More: New…
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