fraudsters

Ukraine Dismantles $40 Million Russian Crypto Pyramid

April 6, 2023 Bitcoin.com

bitcoin.com

Ukrainian law enforcement has exposed a financial pyramid originating from Russia suspected of making millions of U.S. dollars. The scam convinced victims to send fiat money and cryptocurrency by promising profitable investments in big companies around the world. Large Crypto Pyramid Scheme With Russian Roots Busted in Ukraine Officers from the Security Service of Ukraine […]

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Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’

March 9, 2023 Bitcoin.com

bitcoin.com

Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the website of the fraudulent investment scheme, security experts said. Thousands of Investment Offers Entice Russians to Put Money Into Non-Existent Cryptocurrency Fraudsters have […]

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Bulgarian Businessman Loses Half a Million Dollars to Call Center Crypto Fraud

February 6, 2023 Bitcoin.com

Asia

A Bulgarian investor has lost a large amount of money to fraudsters who convinced him he was putting cash into cryptocurrency. The scam operated through a call center in what is becoming an established scheme for extracting money from victims lured with promises of quick profits on stock and crypto markets. Defrauded Bulgarian Crypto Investor […]

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Ukraine’s Cyberpolice Expose Members of Crypto Fraud Scheme Making €200 Million a Year

November 14, 2022 Bitcoin.com

bitcoin.com

A report shows Ukrainian Cyberpolice identified members of a group that defrauded people around the world through fake crypto investment offers. The criminal organization maintained offices and customer service centers with thousands of employees in a number of European countries. Cyberpolice Department Busts Ukrainian Arm of International Financial Fraud Scheme The cybercrime combatting unit of […]

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Ukrainian Police Bust Crypto Call Centers Defrauding Investors Across Europe

September 1, 2022 Bitcoin.com

bank cards

Ukrainian investigators have exposed a scheme targeting residents of the country and the European Union with various financial scams, including some related to cryptocurrencies. The criminal organization members contacted their victims through call centers to collect personal financial information. Fake Ukrainian Call Centers Promise Foreigners Excess Profits From Crypto Trading Officers from the Main Investigative […]

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SEC Warns Crypto Investors of Scammers Exploiting Their Fear of Missing Out on Social Media

August 31, 2022 Bitcoin.com

bitcoin.com

The U.S. Securities and Exchange Commission (SEC) has warned about scammers exploiting investors’ fear of missing out (FOMO) on social media. “If a crypto investment ‘opportunity’ sounds too good to be true, it probably is,” the SEC cautioned. SEC Says Scammers Often Use Social Media to Defraud Investors The U.S. Securities and Exchange Commission (SEC) […]

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Russian Crypto Scammers Go Offline, Open Offices, Central Bank Worried About Trend

August 29, 2022 Bitcoin.com

Bank of Russia

An increasing number of financial and crypto pyramids targeting Russian investors have been opening physical offices in the country. The Central Bank of Russia has recently expressed concern over the trend which is seen as an indication that the fraudsters expect growing demand. Russian Crypto Scams Launch Offices to Lure More Investors In-person, Bank of […]

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Over Half of This Year’s Financial Pyramids in Russia Involved Crypto, Bank of Russia Finds

July 17, 2022 Bitcoin.com

bitcoin.com

A majority of the financial pyramids identified in 2022 used cryptocurrencies in one way or another, Russia’s central bank announced in a new report. Amid Western sanctions, Russian scams have stepped up their activities, often claiming to be licensed by foreign authorities to offer access to crypto assets. Russian Pyramids Take Advantage of Western Sanctions […]

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Russia Considers Jail Time for People Helping Crypto Scammers Launder Proceeds

July 15, 2022 Bitcoin.com

bitcoin.com

The interior ministry of Russia has decided to go after those providing money-laundering services to crypto fraudsters, suggesting they should go to prison. The department wants to introduce criminal liability for the activities of these people, also known as ‘droppers.’ Law Enforcement in Russia Targets Droppers Involved in Fraudulent Crypto Schemes The Ministry of Internal […]

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Majority of Russia’s Financial Pyramids in Q1 Linked to Crypto, Scammers Exploit Sanctions Topic

May 8, 2022 Bitcoin.com

Bank of Russia

Many of the financial pyramids identified in Russia during the first quarter of the year have been associated with cryptocurrencies, a top central bank official has revealed. Fraudsters are actively exploiting the hot topics of the day, including the sanctions theme. Pyramids Offer Russian Investors Ways to Circumvent Western Sanctions Amid growing financial uncertainty, Ponzi […]

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