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fraud News
Fraud remains a persistent issue in crypto, with fraud news exposing financial crimes, Ponzi schemes, and deceptive investment projects. From insider trading to fake exchanges, bad actors continue to exploit regulatory gaps. As governments and blockchain forensics improve enforcement, the industry is working to build trust and transparency.
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Latest fraud News
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Scammers are sending physical letters to Ledger hardware wallet users, impersonating the company in an effort to steal wallet seed phrases — a phishing scheme that may be linked to Ledger’s 2020 data breach. In a recent post on X,…
News
Loopscale has successfully recovered $5.8 million in funds stolen during an April 26 exploit, following negotiations with the attacker. The decentralized finance protocol announced that all user deposits have been returned, with the hacker accepting a whitehat bounty in exchange…
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Eugene William Austin Jr., also known as “Hugh Austin,” was sentenced to 18 years in prison for leading a multi-year scheme that defrauded more than two dozen victims out of $12 million. His son, Brandon Austin, was previously sentenced to…
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Bitget has initiated compensation for users impacted by a trading glitch involving VOXEL/USDT perpetual contracts, following unusual price action on April 20. On April 22, Bitget announced that transaction rollbacks and account recoveries had been “basically completed,” and that compensation…
USDT
Tether
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Brazil’s federal court has sentenced three members of the collapsed crypto scheme Braiscompany to a combined 171 years in prison, marking one of the country’s harshest penalties in a financial fraud case. Joel Ferreira de Souza, identified as the main…
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MOVE price has dropped 28% in the past week and is currently trading at just 4% above its all-time low amid an ongoing third-party investigation into suspicious market maker activity involving the token on Binance. Movement Labs (MOVE) has recently…
MOVE
Movement
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Former Wall Street executive Richard Kim has been arrested and charged with wire fraud and securities fraud for allegedly misappropriating over $4 million from investors in a blockchain-based online casino startup called ZeroEdge. According to a sworn affidavit filed by…
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Ramp Network’s latest user study finds fear of scams and fraud blocks new crypto adopters. Platforms must lead with transparency to win user trust. Ramp Network’s new report reveals that visible security and fraud prevention are top priorities for first-time…
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A South Korean man in his 30s has been sentenced to three years in prison for defrauding a crypto investor of 2.93 billion won (approximately $2.04 million). The Changwon District Court convicted the man, identified only as Person A, of…
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CLS Global, a crypto market maker registered in the United Arab Emirates, has been hit with a $428,000 fine for wash trading of the FBI’s bait token NexFundAI. On April 2, a federal court in Boston sentenced CLS Global on…
TRX
TRON
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Terraform labs, the Singapore-based company behind the Terra blockchain and its associated cryptocurrencies TerraUSD and Luna, is launching a crypto asset loss claim portal on March 31—claims to be submitted by April 30. On Mar. 28, Terraform labs announced that…
BTC
Bitcoin
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Following 400%+ price pump of JELLY caused by a market manipulation incident on Hyperliquid, Binance and OKX capitalized on the volatility by listing JELLY futures, while Hyperliquid delisted the token’s perps, facing backlash over centralization concerns. After the recent market…
HYPE
Hyperliquid
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The Israeli financial markets regulator has shut down the crypto exchange Bitin for offering crypto trading services without the required license, reinforcing the country’s regulatory stance on crypto firms. The Israeli Capital Markets, Insurance, and Savings Authority has shut down…
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Blockchain investigator ZachXBT has alleged that a trader who recently amassed $20 million on HyperLiquid through leveraged trading is likely William Parker. Parker is a convicted fraudster with a history of hacking and gambling-related crimes. In a detailed thread on…
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Gotbit founder Aleksei Andriunin’s plea agreement would require him to forfeit around $23 million in stablecoins. If approved, he could avoid prison time and additional fines. Andruinin and the U.S. Attorney for the District of Massachusetts have reached a plea…
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Burwick Law has filed a class action lawsuit in New York against Kelsier Ventures, KIP Protocol, and Meteora, accusing them of running a deceptive launch in the LIBRA token scandal. According to the lawsuit filed on Mar. 18, the token’s…
Markets
