fraud News

Interpol has issued a red notice seeking the arrest of a Hong Kong crypto promoter over an alleged $384,000 crypto fraud.

The Russian founder of Bitzlato was sentenced to time served for facilitating over $700 million in illegal crypto transactions. Anatoly Legkodymov, a Russian co-founder of Hong Kong-based crypto exchange Bitzlato that processed over $700 million worth of illicit crypto on…

Blockchain security firm Resonance Security is rolling out a new tool to help web3 protocols defend against DNS and CDN manipulations. Resonance Security has developed a new tool designed to capture continuous snapshots of the web state, including DNS records…

U.S. attorneys are attempting to seize $2.5 million in cryptocurrency from an international “pig butchering” scam targeting American victims. The U.S. Attorney’s Office for the District of Columbia has initiated a civil forfeiture action to recover 2,546,415.01 USDT seized by…

Northern Data has filed a motion to dismiss a lawsuit from former employees, arguing that the court lacks jurisdiction and the claims lack sufficient detail. American branches of the European Bitcoin mining company Northern Data have filed a motion to…

A Woori Bank employee has reportedly been arrested for embezzling $15 million by manipulating loan documents and using the stolen funds to buy crypto. A Woori Bank employee has been arrested on Monday after being indicted for embezzling ₩18 billion…

With more companies using blockchain tech and crypto, there has been a corresponding increase in security incidents such as theft, phishing, and fraud. SlowMist, a leading blockchain security firm, released its second quarter MistTrack Stolen Funds Analysis report, which examines…

Belgium’s financial regulator highlights in a recent report that crypto scams and fraudulent trading platforms still account for 50% of all fraud reports in the first half of 2024. Belgium’s Financial Services and Markets Authority (FSMA) is intensifying efforts to…

A federal court has ordered Jafia LLC and its owner, Sam Ikkurty, to pay nearly $84 million to crypto investors after ruling that the firm operated a Ponzi-like scheme.  The judgment, issued by Judge Mary Rowland in the US District…

Come charges against Binance are sticking. Others aren't. Here are the latest developments on the company's ongoing legal troubles.

A resident of Mangalore, Karnataka, has been arrested for defrauding over 50 people in a cryptocurrency ponzi scheme. According to a local report, law enforcement in Hyderabad has arrested Kunjathbail Mujib Sayyad for operating the “Max Crypto trading” ponzi. The…

Bitget’s latest report reveals that deepfake-related crypto fraud has resulted in losses exceeding $79.1 billion since 2022, with a 245% increase in 2024 alone. The surge in artificial intelligence (AI) popularity has drastically transformed the landscape, with deepfakes emerging as…

The FBI has issued a public warning that fraudsters posing as lawyers are contacting crypto scam victims, promising to help recover their lost funds. Bad actors may be using social media and other messaging platforms to impersonate law firms, contacting…

Hydrogen Technology Corporation executives have been sentenced for operating a multimillion-dollar crypto securities fraud scheme. A federal Florida judge has sentenced Michael Kane, the chief executive of Hydrogen Technology Corporation, a New York-based crypto firm, to nearly four years in…

The now-deleted livestream directed viewers to deposit Bitcoin, Ethereum, and Dogecoin at a fictitious website. The stream, which at one point had more than 30,000 viewers, ran for five hours over the weekend and utilized semi-pixelated videos of Elon Musk.…

The pursuit of profits must be balanced out by prudent risk management strategies and due research.