Clay County Intensifies Efforts Against Cryptocurrency Scams

August 17, 2024 Bitcoin.com

bitcoin.com

The Clay County Prosecutor’s Office, located in Liberty, Missouri, is intensifying efforts to combat the rise in cryptocurrency-related scams. Recognizing the growing threat posed by scams related to cryptocurrencies like bitcoin and ethereum, the office is organizing a specialized training program for local law enforcement agencies. This initiative aims to equip detectives and officers with […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Binance Security Team Recovers $73 Million in Stolen Crypto Funds This Year

August 9, 2024 Bitcoin.com

Binance

Crypto exchange Binance’s security team has recovered or frozen over $73 million in stolen user funds so far this year, surpassing the $55 million recovered in 2023. This achievement highlights the company’s commitment to improving cryptocurrency security. Binance Recovers $73 Million in Stolen User Funds Crypto exchange Binance announced on Wednesday that its security team […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Lookonchain: Erm, actually the $2B of ETH was sold back in 2021

August 8, 2024 Coin Telegraph

Lookonchain: Erm, actually the B of ETH was sold back in 2021

China

Lookonchain shared that Plus Token had begun moving nearly $2 billion in ETH but it turns out most of it had already been sold in 2021.

Independent analysts have debunked a recent social media post claiming that “hundreds of dormant wallets” linked to the multibillion-dollar crypto scam Token Plus had begun shifting nearly $2 billion in Ether.

In a now-deleted Aug. 6 post to X, blockchain analytics service Lookonchain initially claimed that wallets linked to TokenPlus had begun shifting some 789,533 ETH — worth $1.8 billion at current prices.

As it turns out, the amount may have been much lower than initially stated.

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

FBI Issues Alert, Warns of Scammers Posing As Crypto Exchange Employees To Steal User Funds

August 7, 2024 The Daily Hodl

crypto

The U.S. Federal Bureau of Investigation (FBI) issued a warning to crypto traders last week about scammers who steal funds by posing as exchange employees. The FBI notes that these fraudsters will contact victims and pretend there are problems with their exchange accounts. The scammers, acting like exchange employees, will stress urgency, often claiming a […]

The post FBI Issues Alert, Warns of Scammers Posing As Crypto Exchange Employees To Steal User Funds appeared first on The Daily Hodl.

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

FBI Issues Warning About Crypto Exchange Scams

August 2, 2024 Bitcoin.com

bitcoin.com

The Federal Bureau of Investigation (FBI) has warned cryptocurrency users about scammers impersonating crypto exchange employees to steal funds through unsolicited messages or calls. These fraudsters create urgency, claiming issues with accounts to trick victims into providing login details, clicking links, or sharing identification information. FBI Alerts Public to Cryptocurrency Exchange Scams The Federal Bureau […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

$31M Neiro project on Ethereum ‘is a honeypot’ — Wazz

July 28, 2024 Coin Telegraph

Coin Telegraph

It’s unclear at this time whether illicit activity has taken place, but a series of red flags has brought the token under scrutiny.

Independent blockchain sleuth Wazz posted a public warning on July 28 that the “biggest $Neiro token on Ethereum is a honeypot.”

Up front: our preliminary investigation remains inconclusive as of the time of this article’s publication. However, the post from Wazz does indicate several visible red flags with the project. We’ve so far been unable to find contact information for the developer(s) behind the token.

Per Wazz, whose past sleuthing accolades include being the first to spot the $870,000 hacking of billionaire Mark Cuban’s hot wallets, a particular Neiro meme token with an Ethereum blockchain address of “0x3ad4f189f08cdc60496eeBb3bd70B90dF28B7455” is a honeypot scam:

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Forcount crypto scheme promoters plead guilty to wire fraud conspiracy

July 22, 2024 Coin Telegraph

Coin Telegraph

On July 22, two of the five individuals who allegedly stole $8.4 million from investors between 2017 and 2021 by promoting Forcount pleaded guilty.

Two individuals indicted for their involvement in the Forcount cryptocurrency Ponzi scheme have pleaded guilty to charges in a New York courtroom.

In a July 22 hearing at the United States District Court for the Southern District of New York, Antonia Perez Hernandez and Nestor Nunez pleaded guilty to conspiracy to commit wire fraud related to the Forcount scheme. Hernandez, Nunez and others allegedly pilfered $8.4 million from mostly Spanish-speaking investors between 2017 and 2021 by promoting crypto trading and mining on Forcount, promising significant returns.

Of the five defendants in the case charged in 2022, Juan Tacuri has also pleaded guilty. He was one of the promoters who traveled across the US to host presentations in which he convinced investors to sign up for Forcount. As part of a deal with prosecutors announced in June, he agreed to forfeit roughly $4 million and properties purchased with victims’ funds.

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Angel Drainer reportedly shuts down after devs potentially identified

July 16, 2024 Coin Telegraph

angel drainer

Two hours after Match Systems claimed to have discovered the identity of Angel Drainer developers, users began complaining that the app no longer worked.

Notorious crypto phishing app Angel Drainer has reportedly been shut down by its developers after they were potentially identified, according to a July 16 report from blockchain security firm Match Systems.

Security analysts have previously blamed Angel Drainer for over $25 million in crypto losses from phishing scams.

Drainer programs are apps that allow phishing scammers to easily drain the wallets of crypto users by tricking them into accidentally making token approvals. In most cases, drainers are provided to scammers in exchange for a portion of the stolen loot the scammers acquire.

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Artificial Intelligence (AI) Deepfake Video Scams Steal $273,350 From Three Men: Report

July 14, 2024 The Daily Hodl

Artificial Intelligence (AI) Deepfake Video Scams Steal 3,350 From Three Men: Report

Crypto Schemes

Three Canadian men reportedly lost hundreds of thousands of dollars after watching videos that purportedly showed prominent figures vouching for a cryptocurrency investment scheme. According to CTV News Toronto, Mohammad Haque came across a video on social media that showed Prime Minister Justin Trudeau explaining how Canadians could generate gains by investing in crypto. Haque […]

The post Artificial Intelligence (AI) Deepfake Video Scams Steal $273,350 From Three Men: Report appeared first on The Daily Hodl.

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TON ecosystem scams on the rise: How to stay safe

July 10, 2024 Coin Telegraph

Coin Telegraph

As the TON blockchain is open-source and permissionless, individual users and projects must be careful to ensure their own safety.

The Open Network (TON), a blockchain platform integrated with Telegram, has experienced record-breaking growth in 2024. The number of onchain-activated wallets surged from approximately 1 million in January to over 9 million in June.

However, TON’s massive inflow of new users has not been overlooked by scammers. In June 2024, blockchain security firm SlowMist issued a warning on increasing phishing attacks on the TON ecosystem.

As the TON Foundation ambitiously expects to onboard 500 million users by 2028, it raises the question of how to properly protect users from attacks of all possible vectors without hindering rapid adoption.

Scams

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