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Crypto Fraud Ring Dismantled by Vietnamese Authorities

Crypto Fraud Ring Dismantled by Vietnamese AuthoritiesVietnamese authorities have reportedly dismantled a cross-border fraud ring involved in romance scams and fraudulent cryptocurrency schemes. Led by foreign criminals, the group operated from Laos and defrauded victims of tens of billions of dong. Key Vietnamese suspects, trained in digital deception, have been arrested for their roles in the scheme, which included using fake […]

Planning Ahead: Cosmos Health Looks to Add Bitcoin and Ethereum to Its Treasury

CFTC Teams up With SEC to Fight Cryptocurrency Scams

CFTC Teams up With SEC to Fight Cryptocurrency ScamsThe Commodity Futures Trading Commission (CFTC) has partnered with several organizations, including the Securities and Exchange Commission (SEC), to educate the public about cryptocurrency scams, especially those involving fake romantic relationships. These partnerships aim to help consumers recognize and avoid these “pig butchering” scams, which defraud victims by building false trust and promoting fake cryptocurrency […]

Planning Ahead: Cosmos Health Looks to Add Bitcoin and Ethereum to Its Treasury

Crypto catfishers ditch fake exchanges for approval phishing scams

According to on-chain analytics firm Chainalysis, romance scammers increasingly use this method to steal their victim’s hard-earned crypto.

Crypto romance scammers — a cohort of crypto-stealing smooth-talkers — appear to have a new trick up their sleeves: targeted approval phishing.

In a Dec. 14 report from on-chain analytics firm Chainalysis, the firm noted that the technique has seen explosive growth over the past two years, with at least $374 million in suspected stolen crypto in 2023.

Approval phishing is a crypto scam where victims are tricked into signing transactions that give scammers access to wallets, allowing them to drain funds. While this isn’t new, Chainalysis said the technique is now utilized more often by pig-butchering scammers.

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Planning Ahead: Cosmos Health Looks to Add Bitcoin and Ethereum to Its Treasury