Tag: crypto scam

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Over $24 Billion in Cryptocurrency Received by Illicit Addresses in 2023, Down 40% from 2022: Chainalysis

January 19, 2024

Crypto research firm Chainalysis revealed that at least $24.2 billion worth of cryptocurrency was sent to illicit wallet addresses in 2023, encompassing addresses associated with sanctions, terrorist financing, and scams. The figure is considered a conservative estimate, and Chainalysis expects it to rise as more illicit addresses are identified. Chainalysis focused on crypto-related crime, acknowledging…
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Down Big: Crypto Scamming Numbers Reduced In 2023 – Report

January 19, 2024

2023 started with a challenging overall landscape for the crypto market that continued throughout the rest of the year. However, the market saw a recovery with a spike in bullish sentiment and ended the year on a positive note. Additionally, 2023 saw a decline in crypto scamming and crypto-related illicit activity compared to the previous…
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Australian Government Official to Question Regulator Over Its Failure to Warn Crypto Investors

January 10, 2024

The Australian government’s assistant treasurer, Stephen Jones, has stated his intention to query the country’s securities regulator over its failure to warn investors about the risks of investing in the now-collapsed crypto investment firm Hyperverse. Jones stated that a “bunch” of Australians had invested in the scheme whose only source of income was the money…
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Report: CEO of Collapsed Crypto Investment Scheme Hyperverse May Not Exist

January 5, 2024

A probe into the affairs of the collapsed crypto fund Hyperverse has determined that its highly educated CEO may not exist. The investigation also found that before its collapse, Hyperverse and its CEO both enjoyed celebrity support. The CEO’s Records Do Not Exist An investigation into the circumstances that led to the collapse of the…
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Official X Account of Blockchain Security Firm CertiK Compromised – What’s Going On?

January 5, 2024

The X account (formerly Twitter) of blockchain security company CertiK has been compromised with bad actors posting a phishing link to a wallet drainer. On Jan 5, it was revealed that CertiK’s X account was a victim of a phishing attack with several calls from the wider community to avoid engaging the links posted during…
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By The Numbers: Crypto Users Lose $300 Million To Phishing Scams In 2023

January 3, 2024

In a startling revelation by Scam Sniffer, the cryptocurrency world has been hit hard by a series of sophisticated phishing scams in 2023. The team behind the crypto security tool has reported that Wallet Drainers, a type of malware, have successfully siphoned off nearly $295 million from approximately 324,000 unsuspecting victims in the space. These…
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Another Man Arrested in India’s Multi-Billion GainBitcoin Ponzi Scam as Investigation Intensifies

January 3, 2024

Source: Pixabay India’s probe agency, the Directorate of Enforcement (ED), has arrested Nitin Gaur, the brother-in-law of Ajay Bhardwaj, in connection with the multi-billion-dollar GainBitcoin Ponzi scam. This arrest is part of the ongoing investigation into the cryptocurrency fraud case involving M/s Variable Tech Pte Ltd and its promoters. Under the Prevention of Money Laundering…
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Crypto Scammers Swipe $123K in stETH from Nest Wallet Founder in Fake Airdrop

January 3, 2024

The Nest Wallet founder has lost his life savings in an elaborate fake crypto airdrop scam. Image by Kerem Goktug Kaya, DALL-E 3. In a sobering reminder of the prevalence of cryptocurrency scams, Nest Wallet co-founder Bill Lou revealed on Tuesday he fell victim to an elaborate fake airdrop scheme resulting in the theft of…
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Attorney Says They Are “Receiving 5-6 Emails a Day” From Victims of Pig Butchering Scams

January 1, 2024

Source: AdobeStock / James Thew Pig butchering scams, a rapidly growing criminal activity involving online romance, fake crypto investments, and human trafficking, have been plaguing US citizens, resulting in significant financial losses.  In a recnet interview, Erin West, Deputy District Attorney in Santa Clara, California, said the problem is esclating, claiming that she receive an…
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Fake Crypto Websites on Google Ads Drain $3 Million in Christmas Phishing Scam

December 26, 2023

Scammers drained $3 million in crypto from victims this Christmas using fake websites promoted on Google ads. Image by Fareed Mindalano, DALL-E 3. A new report reveals that scammers stole over $3 million in cryptocurrency from victims this holiday season using fake crypto websites promoted through Google Ads. The scammers created fraudulent versions of popular…
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