Scam news
While the cryptocurrency market has created fresh financial opportunities, it has also become a target for fraud through crypto pyramid schemes. Though they promise rapid and large profits, these programs are traps that cause financial losses. This guide exposes how these frauds…
BaseBros Fi Vanishes After Rug Pull BaseBros Fi, a yield optimization protocol on the Base blockchain, has vanished after allegedly pulling off a rug pull. The platform stole user funds through an unaudited smart contract. BaseBros deleted its official website and social…
By accepting cash or debit cards, Bitcoin ATMs provide a basic approach to buying and exchanging BTC. They save time by giving fast access to cryptocurrencies without depending on a bank account. However, not all of these machines are safe; consequently, using…
Since social media channels like TikTok have grown in popularity, employment seekers are more susceptible than ever to fraud, particularly those about cryptocurrencies. Often resulting in financial loss or stolen personal data, these scammers present attractive crypto job offers, It’s crucial to…
As cryptocurrencies grow more popular, frauds—particularly crypto scam ads on social media— are also increasing. To entice victims into losing their money, scammers run ads and offer too-good-to-be-true returns on investments. Although it might be difficult to spot these scams, you can…
Pig Butchering Scams Targeting US Investors United States authorities have made significant strides this week in tackling a major pig butchering scam, recovering millions of dollars in cryptocurrency, and sending a former bank CEO to prison. The US District Attorney’s Office for…
As social media becomes a one-stop shop offering various financial products, scammers have camouflaged themselves on these platforms to exploit customers. Scammers have devised various marketing approaches to lure customers to their dubious scheme. Such strategies include promising high returns on investment…
As the defunct Japanese crypto exchange Mt. Gox begins repaying the 2014 hack victim, the criminals are preying to steal creditors’ funds. The affected Mt. Gox creditors claimed that criminals were using brute force attempts to compromise their accounts. As the Mt.Gox…
Financial stability and independence are dreams we all share. This is why most people earn and save money to invest in schemes that promise a secure future, whether for retirement or achieving specific goals. However, sometimes things don’t go as planned, and…
A court in Melbourne, Australia, has ordered a 31-year-old man to face a two-year imprisonment for violating federal law. The court accused the suspect of engaging in cyber-related crime by using falsified documents to create crypto accounts. According to the Australian Federal…
Overview of Smart Contract Vulnerabilities Smart contracts on blockchain platforms like Ethereum can automate transactions and enforce agreements without the need for intermediaries. However, these contracts are not free from vulnerabilities, which can be exploited by malicious entities. Common issues include inadequate…
The rise of crypto-related crimes has compelled vital market players to explore ways to address the issue. On May 22, leading crypto exchanges, tech firms, and advocacy teamed up to combat crypto crime. Coinbase, Kraken, Gemini, Meta, Ripple Labs, Match, and the…
The cryptocurrency space continues to evolve, bringing with it not only groundbreaking advancements but also significant risks. As of March 25, 2024, the digital landscape has seen an uptick in sophisticated scams aimed at duping investors out of their digital assets. Key…
In the landscape of cryptocurrency, ensuring the protection of investors against deceptive financial activities, notably pump-and-dump schemes, is of utmost importance. The introduction of anti-dumping policies marks a significant stride towards preserving market integrity and defending the interests of participants in the…
Impersonation scams within the cryptocurrency sector present a sophisticated and continuous threat to investors and users. These scams cleverly exploit the digital and pseudonymous characteristics of cryptocurrency transactions, creating a fertile ground for fraudsters to operate with a degree of anonymity that…
In a Monday report, the South Korean cross-chain bridge Orbit was hit by a major cyber attack that resulted in the loss of a substantial amount. The Orbit team complained that the hackers gained unauthorized access to the cross-chain and drained approximately…
In a recent publication, Australia’s Department of the Treasury revealed plans to levy new codes and business standards to address financial crime. The regulatory agencies formulated a consultation paper detailing the new approach for mitigating consumer and business scams. The report mirrors…
Top accounting firm KPMG through its Canadian arm has partnered with on-chain analysis firm Chainalysis to help organizations combat crypto-related fraud in the country. According to a statement, KPMG will be working with Chainalysis’ “Solution Provider” program, offering “rigorous monitoring, support, governance…
With the advancement in the digital sector crypto has become a tool for conducting unlawful activities forcing industrial players to take decisive action to protect the digital industry from collapsing. As part of the pivotal role to shield the crypto industry from…
Ledger wallet users have suffered loss to the tune of $588,000 due to a fake Ledger Live App. blockchain security firm ZachXBT announced this in a tweet on 5 November. The fake app named “Ledger Live web3” was reportedly found on the…
