The U.S. Federal Bureau of Investigation (FBI) issued an alert on June 4, highlighting a surge in cryptocurrency-related fraud involving bogus work-from-home opportunities. Scammers impersonate legitimate businesses and lure individuals with seemingly simple tasks like clicking buttons or rating services, promising payment through complex and deceptive crypto-based compensation structures. Victims are often tricked into making…
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Hong Kong police have issued a warning over the rise in counterfeit banknotes, with many cases linked to cryptocurrency scams. Between January and April, authorities seized 3,396 fake notes valued at HK$2.55 million (US$326,130), a significant increase from last year’s 553 notes worth HK$166,220. Three major cryptocurrency-related fraud cases led to the confiscation of 1,693…
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The SEC’s Office of Investor Education and Advocacy has issued an alert, highlighting five common crypto scams investors should watch out for to avoid losing money. The SEC warns that fraudsters exploit cryptocurrency popularity with sophisticated techniques, making fund recovery difficult. For example, “Fraudsters may conduct pump-and-dump schemes with crypto assets, including so-called ‘memecoins’ that…
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The Canadian Anti-Fraud Centre (CAFC) has warned about a surge in crypto scams targeting Canadian citizens. In a Tuesday announcement, the anti-fraud call centre said there has been an increase in two specific types of cryptocurrency scams targeting Canadian citizens, including pig butchering or romance scams, and investment scams. In response to this concerning trend,…
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Some of the biggest tech firms and crypto exchanges have partnered to launch a ‘Tech Against Scams’ alliance, aiming to tackle the growing online fraud and financial schemes. Meta, Coinbase, Ripple, Kraken, Gemini, Match Group and the Global Anti-Scam Organization (GASO) are among the alliance members. The cross-industry coalition would pool insights and expertise from…
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Thailand’s state authorities held a meeting on Tuesday, calling to regulate peer-to-peer (P2P) cryptocurrency purchases and comprehensively prevent online fraud. The meeting was spearheaded by Prasert Jantararuangthong, minister for digital economy and society, and included representatives from the Thai SEC, Bank of Thailand, Royal Thai Police, Defense Ministry, among other key departments. During the gathering,…
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Tech giant Google has filed a lawsuit against two Chinese nationals, accusing them of developing fraudulent cryptocurrency apps on the Google Play store and defrauding more than 100,000 users globally. “This is a unique opportunity for us to use our resources to actually combat bad actors who were running an extensive crypto scheme to defraud…
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Artificial intelligence (AI) could breed a dangerous new category of crypto-based crime in the coming years, according to blockchain intelligence platform Chainalysis. Crypto Criminals Adopting Artificial Intelligence During a private video webinar viewed by Cryptonews on Thursday, Chainalysis Cybercrimes Research Lead Eric Jardine summarized growing and shrinking trends in illicit blockchain activity in 2023, and…
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The United Kingdom’s Financial Conduct Authority has said it will not object to requests by recognised investment exchanges to launch crypto-backed exchange-traded notes. The exchange-traded notes will only be made available to professional investors such as regulated investment firms. ETNs Must Adhere to UK Listing Requirements The Financial Conduct Authority (FCA), the watchdog for the…
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Self-custody crypto wallet MetaMask announced today it would extend default security alerts to web extension and mobile app users across multiple blockchains. In an X post, the Ethereum-based wallet said in addition to Ethereum, its MetaMask Security Alerts would now be available on Linea, BNB Smart Chain, Polygon, Arbitrum, Optimism, and Avalanche. Privacy-focused MetaMask Security…
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