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Scammers Use Meme Coin Mania to Defraud 42,000 Victims and Amass $32 Million: Blockfence
22.1.2024
A group of fraudsters has managed to deceive over 42,000 victims, accumulating a staggering $32 million in a series of crypto scams that began in April 2023. What makes this scam unique is the use of a method that even fooled some of the industry’s renowned “rug pull detectors,”...
Japanese Firms Collect Crypto Donations for Earthquake Victims
5.1.2024
Source: momius/Adobe Some of Japan’s biggest crypto firms are building donation platforms to help victims of the Noto Peninsula earthquake. Per the Japanese news outlet CoinPost, crypto donors have already given “tens of millions of yen” worth of tokens to charities aiding earthquake victims. These...
Attorney Says They Are “Receiving 5-6 Emails a Day” From Victims of Pig Butchering Scams
1.1.2024
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...
Blockchain Security Firm Says Pink Drainer Responsible for $4.4 Million LINK Exploit
29.12.2023
Source: AdobeStock / Tomasz Bidermann Cryptocurrency hacking group, Pink Drainer has been linked to the recent $4.4 million LINK user drain, increasing the number of their victims to 9,068 with a total of $18.7 million stolen. According to on-chain analytics firm Etherscan, another user has fallen...
Fake Crypto Websites on Google Ads Drain $3 Million in Christmas Phishing Scam
26.12.2023
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...
MS Wallet Drainer Has Siphoned Over $58 Million Using Google and X Phishing Ads
26.12.2023
A recent report from Scam Sniffer, an anti-scam solution, revealed that MS Wallet Drainer, a cryptocurrency malware tool, has managed to siphon over $58 million in crypto since March. The drainer uses Google search and X ads phishing links as a distribution vector and has affected over 63,000...
Scammers Banked $59 Million in Crypto Exploiting Google Ads
22.12.2023
Source: Adobe / zedtox Scammers have over the past nine months used a wallet-draining service named “MS Drainer” to siphon around $59 million worth of crypto from numerous victims, according to a recent report by blockchain security firm Scam Sniffer. The scam operated through Google...
Ledger Hardware Wallet Will Compensate Users for $600,000 Exploit
20.12.2023
Source: iStock Hardware wallet provider Ledger has announced its intention to reimburse victims for the approximately $600,000 in assets lost due to the recent ConnectKit exploit. In a December 20 statement on X (formerly Twitter), the firm assured that the lost assets would be reimbursed before...
US Seizes Half a Million Dollars in Digital Currency Linked to Chinese Man Involved in Crypto Fraud
13.12.2023
Source: Pexels The United States has seized digital currency valued at approximately half a million dollars from an account registered to a Chinese individual who was implicated in a crypto-investment fraud scheme. The scam, commonly referred to as “pig butchering,” involves...
DOJ Charges Two Men For $25 Million Crypto “Trading Bot” Ponzi Scheme
13.12.2023
Source: Department of Justice In another crackdown against crypto criminals, the U.S. Department of Justice (DOJ) has charged two middle-aged men with stealing over $25 million from victims in a so-called “cryptocurrency Ponzi scheme.” Citing court documents, the DOJ accused David Gilbert Saffron...
Trial of ‘Art-themed Altcoin Fraudster’ Underway in South Korea
12.12.2023
Source: icedmocha/Adobe The trial of a suspected crypto fraudster who allegedly told victims they were investing in an art-themed altcoin and NFTs has begun at court in Gwangju, South Korea. According to Munhwa Ilbo, prosecutors say an individual surnamed Tak, aged 44, “defrauded” 13 “victims”...
Rewarding Hackers With Bug Bounties ‘Inherently Creates a Moral Hazard’ Says Expert
7.12.2023
Rewarding hackers who agree to return a portion of the stolen funds not only “creates a moral hazard” but potentially “leads to more security breaches,” a Web3 expert has argued. The recent attacks on Kronos and Kyberswap, as well as the subsequent attempts to engage...
KyberSwap Announces Grants from Protocol Treasury to Aid Victims of Recent Exploit
2.12.2023
Source: AdobeStock / Roman Samokhin The team behind KyberSwap announced that it would offer grants from the protocol’s treasury to victims of the recent exploit, aiming to provide monetary relief. In a post on X (formerly Twitter), the team behind KyberSwap reiterates its unwavering...
US DOJ Seizes $9 Million in USDT from Cyber Scam Organization, Tether to Onboard FBI
29.11.2023
Source: AdobeStock / Krakenimages.com The United States Department of Justice (DOJ) has seized nearly $9 million worth of USDT from an organization running pig butchering scams – with Tether’s help. According to the press release, the authorities traced the funds to cryptocurrency...
Hong Kong Police Receive 145 Complaints of Hounax Crypto Scam Totaling $18.9M
28.11.2023
Hong Kong authorities confirm 145 victims and nearly $19 million lost in crypto scam involving unlicensed exchange Hounax. Image by Alexey Novikov, Adobe Stock. Authorities in Hong Kong have confirmed that 145 individuals filed complaints regarding losses from an unlicensed cryptocurrency exchange...
Hong Kong authorities say 145 victims and $18.9M lost in Hounax scam
28.11.2023
Authorities in Hong Kong confirmed there were 145 affected users scammed on the unlicensed crypto exchange Hounax, resulting in $18.9 million in lost funds
Indian Authorities Prepare Chargesheet Against 3 Accused in $240M Crypto Scam
28.11.2023
Source: Pixabay The Special Investigation Team formed to investigate the alleged $240 million crypto fraud in India will file chargesheet against the three main accused this week. Over 100,000 victims were duped in an alleged multilevel fake crypto scheme that also involved over 1000 police...
Indexed Finance thwarts hijackers, set to compensate 2021 hack victims
26.11.2023
In an X thread, Laurence Day, a former core contributor, detailed the efforts of the Indexed community in overcoming two hijacking attempts on the remaining treasury of the Indexed DAO
Wall Street Memes Launch Discord Hack Relief Fund to Compensate Victims of October Cyber Attack
23.11.2023
Friday, November 10, 2023 – Today the team at Wall Street Memes airdropped funds from its Discord Hack Relief Fund to compensate community members who fell victim to fraudsters who briefly took over the WSM Discord server. All compensation claims submitted by November 17 will have the funds...
US Seizes $9 Million in Tether Allegedly Linked to Pig Butchering Crypto Scams
23.11.2023
The U.S. Department of Justice (DOJ) has seized $9 million in tether (USDT) allegedly linked to “pig butchering” crypto scams. The Justice Department explained that U.S. Secret Service agents and analysts tracked the laundering of victims’ crypto deposits through numerous...