fraud News

Due to its anonymity, the cryptocurrency industry has become the target of identity-related fraudulent activities in recent months. According to an AU10TIX fraud report shared with crypto.news, crypto-related platforms accounted for 29% of global identity fraud attempts in the second…

Crypto-related scams and fraud surged last year, with losses skyrocketing 45% in 2023 compared to the previous year, according to a new FBI report. As crypto gains popularity in the United States, it also brings a rise in crypto scams.…

Five U.S. states have settled with the owner and operators of an alleged $1 Billion cryptocurrency investment scheme.   The scheme, spearheaded by Josip Heit and his GSB Group, lured investors with promises of tokenized partial ownership in a skyscraper,…

The U.S. Securities and Exchange Commission (SEC) has charged Florida-based Galois Capital with serious compliance failures and investor misrepresentation. The charges relate to the firm’s failure to adhere to required custody practices and misleading information about redemption policies. According to…

The FBI has issued a warning that North Korean hackers are aggressively targeting employees in the crypto and decentralized finance sectors to steal company funds. These cybercriminals use sophisticated social engineering strategies to deceive even technically proficient individuals. According to…

In August, crypto phishing scams caused $63 million in losses for 9,145 victims, with stolen funds rising 215% despite a 34% drop in victims. Crypto phishing scams in August resulted in significant financial losses, with $63 million stolen from 9,145…

Scottish prosecutors have made legal history by using proceeds of crime legislation to convert crypto into physical cash. Scottish prosecutors used proceeds of crime legislation to seize £109,601 from John Ross Rennie by converting stolen crypto into physical cash, according…

Ukrainian fraudsters posing as police officers have extorted $250,000 in USDT from a businessman through a scam involving fabricated criminal charges. Criminals impersonating police officers extorted $250,000 in stablecoin from a Ukrainian in a scam that involved threats of fabricated…

North Korean hackers, known as Citrine Sleet, have exploited a severe zero-day vulnerability in the Chromium browser to attack crypto financial institutions. Citrine Sleet targeted financial institutions and crypto entities to steal digital assets. By creating fake crypto trading platforms,…

The X account of French soccer star Kylian Mbappé was compromised on August 28, with hackers using the platform to promote a Solana-based token called MBAPPE.  Shortly after the fraudulent posts appeared on Mbappé’s account, the MBAPPE token experienced a…

Crypto scammers are creating fake advertisements on TikTok to target job seekers, and one user has lost roughly $8,000. The scam came to light after a Leicester man was defrauded of £6,000 (about $7,620) in crypto payments after fraudsters promising…

Malaysian authorities have taken down a major cryptocurrency scam scheme targeting Japanese nationals. According to local reports, the Royal Malaysia Police, also known as PDRM, arrested 21 individuals in connection with the fraud during coordinated raids on two high-end properties…

The head of troubled South Korean crypto lender Haru Invest was reportedly attacked with a knife in the courtroom during a fraud trial. The chief executive of South Korean crypto yield platform Haru Invest Hugo Hyungsoo Lee was attacked with…

Australians lost over $120 million to crypto investment fraud in just 12 months, with those under 50 increasingly becoming the primary targets. Crypto investment scams are surging across Australia, with younger individuals increasingly falling victim as fraudsters employ more sophisticated…

The U.S. Securities and Exchange Commission announced on Aug. 26 that it has settled charges against Plutus Lending LLC, known as Abra. This article has been updated to include a statement from Abra. The charges relate to Abra’s failure to…

Once China’s second-richest man was sentenced to six years in prison in Singapore for orchestrating a fraudulent crypto investment scheme. Tycoon Yang Bin, a Chinese-Dutch national and the second-richest man in China by Forbes for 2001, was sentenced to six…