A social engineering scam has resulted in the loss of over $330 million in BTC from an elderly investor based in the United States. The stolen amount, totaling 3,520 BTC, was drained from a wallet that has been mainly inactive since 2017. Details of The Exploit According to findings shared by blockchain detective ZachXBT on […]
In its 2024 annual report, the FBI’s Internet Crime Complaint Center (IC3) revealed a sharp rise in the number and severity of cryptocurrency-related fraud cases. Over the course of the year, the IC3 recorded over 140,000 complaints linked to cryptocurrency, which led to staggering financial losses of $9.3 billion. Alarming Trend A significant portion of […]
Solana-based decentralized exchange Meteora is facing a class-action lawsuit over pump-and-dump claims surrounding the M3M3 meme coin launch. The complaint alleges this led to losses of at least $69 million between December 2024 and February 2025. Rug Pull Allegations In the April 21 filing with the U.S. District Court for the Southern District of New […]
The US Securities and Exchange Commission (SEC) charged Ramil Palafox, the founder of the crypto company PGI Global, with orchestrating a massive $198 million Ponzi scheme that misled investors worldwide. Palafox is accused of defrauding investors by promoting PGI Global as a legitimate crypto asset and foreign exchange trading business from January 2020 through October […]
In an ironic twist of fate, the hacker behind February’s $9.57 million exploit on zkLend has allegedly fallen victim to another scam. The suspected criminal claimed in an on-chain message that they lost 2,930 ETH, worth about $5.4 million, while trying to launder the stolen funds through Tornado Cash. The zkLend Hack zkLend also confirmed […]
Several Binance users have reported falling victim to an SMS spoofing attack. The phishing text appeared within Binance’s official message thread, making it nearly indistinguishable from legitimate communications. User Reports Binance Phishing Incident One user, Joe Zhou, shared his experience in a LinkedIn post, stating, “I want to report a recent scam related to the Bybit […]
The Solana blockchain has come under fire, with critics calling it a breeding ground for speculative assets. However, Helius Labs CEO Mert Mumtaz argues that the chain is being unfairly blamed for trends that exist across all networks. The Meme Coin Scourge Solana’s recent surge in activity has been largely fueled by meme coins, including […]
Two Estonian citizens pleaded guilty yesterday to running a massive cryptocurrency Ponzi scheme that defrauded hundreds of thousands of investors worldwide, including in the United States. The scheme involved a fraudulent crypto-mining service called HashFlare, resulting in investor losses of over $577 million. Founders Agree to Forfeit $400M in Assets According to court documents, Sergei […]
Dean Norris, best known for his role in Breaking Bad, has become the target of hackers again. His X account was recently compromised to promote a fraudulent meme coin named DEAN. Details from the Exploit An X user who shared a screenshot of the deleted posts described the incident as one of the “most believable” […]
Dubai-based crypto market maker CLS Global will plead guilty to charges related to wash trading on the decentralized exchange Uniswap. Federal prosecutors in Boston announced Wednesday that the company will face market manipulation and wire fraud charges after falling victim to an FBI sting operation. $428K Fine and U.S. Market Ban As part of the […]