The U.K. government plans to introduce laws to reimburse victims of authorized crypto fraud and work with Ofcom to prevent phone number “spoofing.“ The United Kingdom is set to ban cold calls selling financial products, including insurance and cryptocurrencies, to crack down on fraud. The National Crime Agency estimates that fraud costs the country approximately £7…
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The month was particularly bad for exploits, with the amount lost accounting for half of the total crypto exploited so far in 2023. Crypto exploits, exit scams and flash loan attacks saw little signs of letting up in April, with more than $103 million of funds stolen from crypto projects and investors in the month. …
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Tencent Cloud’s deepfake creation service can analyze and train itself on three-minute videos and 100 voice clips to produce a convincing deepfake video within 24 hours. Tencent Cloud — the cloud services provider arm of Chinese tech giant Tencent — has launched a new digital human production platform allowing users to create deepfakes of any…
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What started with a comedy club would later become a notorious case of legal loopholes and frustration for the nonfungible token community. In Venezuela, humor plays an important role, either as a form of protest or a way to make sense of reality. In November 2021, humor and nonfungible tokens (NFTs) were combined with the…
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A report from app provider De.Fi showed losses from theft down in Q1 2023 compared with 2022, along with the recovery of funds. Crypto hackers and scammers made off with $452 million in the first quarter of 2023, according to a report released by antivirus and app provider De.Fi. But that is good and bad…
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Crystal Blockchain, a company that provides blockchain data and analytics, published a study covering security breaches, fraud, and scams related to cryptocurrency and decentralized finance (defi). According to the study, approximately $16.7 billion in crypto assets have been stolen since 2011. Last year, Crystal’s intelligence team documented 199 incidents resulting in the theft of $4.17…
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On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day limit of £5,000 ($6,077). Natwest’s Cautious Approach Towards Crypto Assets Prompts Another Transfer Limit Amid the banking…
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Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the website of the fraudulent investment scheme, security experts said. Thousands of Investment Offers Entice Russians to Put Money Into Non-Existent Cryptocurrency Fraudsters have…
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The new campaign features a withdrawal warning message that attempts to prevent users from sending their crypto to scammers. Binance, in cooperation with law enforcement agencies, is launching a campaign to prevent scams by issuing targeted alerts to potential victims, according to a March 3 blog post from the company. The project, called the “Joint…
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On Friday, debtors who control the official FTX Twitter account warned the community to “be on alert for scams from entities claiming to be affiliated with FTX.” They also noted that neither FTX debtors nor any entity related to the company has issued any IOU crypto assets or “debt tokens.” The alert comes as a…
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