The proceeds of crypto crime fell by more than $5 billion in 2020, due to increasing regulatory compliance by crypto exchanges and declining scams. Revenue from crypto-related crime dropped by more than half in 2020 according to Chainalysis’ annual report on the subject. Cybercriminals netted around $5 billion less than the $10 billion plus they…
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The trader was both lying to investors and using an unregistered derivatives strategy on BitMEX. United States authorities have brought criminal charges against a crypto trader whom they say defrauded investors out of over $5 million. The Department of Justice announced on Tuesday that it had arrested Jeremy Spence. Between 2017 and 2019, 24-year-old Spence operated a…
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An American rapper’s YouTube channel has reportedly been hacked to promote a fake ETH and BTC giveaway live stream that seems to have over 56,000 viewers. The young artist, Keyshawn Butler, confirmed on his Instagram page that his YouTube page had been hacked on 7 January, although he seemed unaware what the channel was being…
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The man is said to have convinced people to invest in a 2017 scheme promising monthly returns of over 20%. A 60-year-old man was arrested at Indira Gandhi International Airport in Delhi on Thursda for allegedly heading a 25 million rupee ($340,000) cryptocurrency scam. Umesh Verma, a former jeweler and greeting card maker, was held…
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Robert Farkas will face the lightest felony sentence possible for his role in Centra Tech’s 2017 ICO. A Manhattan court has sentenced the operator of the fraudulent crypto investment firm Centra Tech to a year and a day in prison. Per a Tuesday announcement from the Department of Justice, Robert Farkas successfully solicited $25 million in…
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The SEC subpoenas the former owner’s bank accounts to find out what happened to investments into Crypto Traders Management. Dissolved limited liability company Crypto Traders Management is seeing its legal troubles multiply. Per a Friday legal filing in Utah, CTM and its former manager Shawn Cutting are trying to fight off a subpoena from the Securities…
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AirBit Club’s leadership have been gathered in New York City and will face charges for stealing “membership dues” to finance massive marketing events and lavish personal lifestyles. Per a Monday announcement, the U.S. Department of Justice and the Southern District of New York have extradited a leader of alleged ponzi scheme AirBit Club from Panama. …
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Court filings from Nov. 19 show that a large volume of crypto assets, including Bitcoin and Ether, was seized from seven convicts in the PlusToken case. The PlusToken controversy, which has led to the arrest of 109 individuals so far, has also reportedly resulted in a titanic seizure of crypto assets by Chinese authorities worth…
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Once a user identifies a phishing attempt, spreading the word online can assist in the security of everyone’s funds. Many crypto owners fall prey to common crypto theft schemes, including phishing traps. How can the average crypto user identify and avoid these attacks to prevent the potential loss of funds? Know the source Phishing emails are…
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The fraudulent mobile app has already received over 100 downloads. A fraudulent mobile application claiming to be the Uniswap exchange has reportedly stolen money from an investor, offering an important reminder of the scams that still pervade the nascent cryptocurrency industry. Alex Saunders, founder and CEO of the Australia-based Nuggets News, recently reported that one…
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