Twitter users have been sharing security incidents surrounding the crypto exchange, including claims that scammers are using Coinbase’s domain name on attacks. Coinbase’s users have been turning to Twitter to report scams and phishing attacks involving the company’s services and applications in the recent weeks, including claims that scammers are using the crypto exchange’s domain…
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Mastercard revealed a new AI-driven tool available to banks for collecting insights to predict scams and frauds involving real-time payments. Mastercard has launched a new artificial intelligence (AI)-power tool which is aimed at helping banks fight payment fraud and scams in real-time prior to any monetary exploits. According to an announcement from the financial services…
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Illicit activities related to crypto increased across the sector in 2022 despite an overall market downturn. According to a report published by blockchain intelligence firm TRM Labs on June 28, a combined $7.8 billion was paid to cryptocurrency pyramid and Ponzi schemes worldwide in 2022. In addition, another $1.5 billion in crypto was alleged by…
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Plaintiff Jeffrey Huang claims his reputation was damaged when ZachXBT allegedly falsely accused him of embezzlement. Blockchain investigator ZachXBT has been sued for libel by one of the people he accused of fraud, according to a June 16 social media post. According to the post, Jeffrey Huang, known as “MachiBigBrother” on Twitter, has accused ZachXBT…
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Commonwealth Bank of Australia plans to restrict payments to crypto trading platforms, citing the threat of scams. The measure would deal another blow to digital asset exchanges operating in the country where it has been getting harder to deposit funds for cryptocurrency operations. Crypto Traders in Australia to Face Another Restriction on Fiat Deposits Australia’s…
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Gensler argued that securities laws helped prevent stock market scams once they were passed in the 1930s and can benefit the crypto market of today. In a June 8 speech at the Piper Sandler Global Exchange & Fintech Conference, United States Securities and Exchange Commission (SEC) Chair Gary Gensler compared the current crypto market to…
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Memecoins have come a long way from the early days of being joke cryptocurrencies. Memecoins, or meme cryptocurrencies, started as a cultural phenomenon with the launch of Dogecoin (DOGE) in 2013, inspired by an internet meme and a critique of the wild crypto market at the time. Dogecoin was developed by software developers Billy Markus…
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According to the Connecticut Department of Banking, commissioner Jorge Perez revealed that the regulator has reached a settlement with the crypto automated teller machine (ATM) and kiosk operator Bitcoin of America. As part of the settlement, Bitcoin of America will pay $86,000 in restitution, and the firm will be required to cease operations in Connecticut.…
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One of Australia’s Big Four banks announced efforts to combat crypto fraud activities aimed at reducing losses from scams. Westpac, one of Australia’s ’Big Four’ banks, is launching its first trial of scam protection measures designed to combat fraudulent activities related to cryptocurrencies. The protection measures aim to mitigate losses from scams and reduce potential…
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A daily newspaper in Ireland released a statement saying it was “deliberately deceived” into believing the identity of a guest writer, which turned out to be AI. An Irish daily newspaper apologized to its readers after it unknowingly published an article by a guest writer who used artificial intelligence (AI) to pen the piece. In…
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