The US government is asking victims of a recently busted crypto fraud scheme to come forward to collect their lost money. In a press release from the U.S. Attorney’s Office for the Eastern District of Virginia, officials say they have recovered and cleared the title to $7 million of investment fraud proceeds using civil asset […]
The post $7,000,000 Up for Grabs As Feds Tell Crypto Fraud Victims To Come Recover Their Money appeared first on The Daily Hodl.
Tether says it aided in the recovery of the stolen crypto by freezing the scammers wallets, which the FBI then seized.
Authorities have seized over $6 million worth of cryptocurrency from wallets connected to Southeast Asia based scammers targeting United States citizens with confidence investment schemes.
On Sept. 26, the US Attorney’s Office for the District of Columbia reported the fraud saw “one or more individuals” lose millions of dollars after being misled into believing they were investing in legitimate crypto enterprises.
The FBI traced the stolen funds on the blockchain and located multiple crypto wallet addresses connected to the scam, which still held over $6 million of victims’ digital assets.
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 […]
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 […]
The leader of the Nigerian blockchain association, Senator Ihenyen, has implored the country’s lawmakers — currently pushing for the securities law to be revamped — to consider crafting laws that regulate the crypto industry. Proposed Law Does Not Expressly Mention Cryptocurrencies As Nigerian lawmakers debate a bill that proposes a ten-year jail term for operators […]
The Central Bank of Russia (CBR) has identified 146 financial pyramid schemes in only six months this year. Fraudsters often lure people with weak financial literacy into investment scams linked to cryptocurrencies or crypto mining operations. Pyramid Schemes Thrive Amid Rising Investment Demand, Bank of Russia Says The number of financial pyramid scams uncovered by […]
A New Zealand hedge fund, NZ Funds Management, which had $350 million worth of assets under management at the end of December 2020, says five percent of its money is invested in bitcoin. According to the firm’s CIO James Grigor, bitcoin is also set to be featured in more of its Kiwisaver investment schemes within […]