Prominent US-based cryptocurrency exchange Coinbase announced the launch of a new initiative called ‘Tech Against Scams’ along with industry leaders Meta, Ripple, Gemini, Kraken, Match Group, and GASO. This coalition aims to tackle online fraud and financial schemes while simultaneously protecting and educating users, highlighting that scams are a tech-wide issue, not restricted to social […]
Hong Kong police have taken into custody three employees of a currency exchange shop who are suspected of engaging in fraudulent activities. This followed an incident where a customer at the shop reportedly encountered stacks of “hell money” before executing a cryptocurrency transfer worth approximately HK$1 million. Hong Kong Authorities Arrest 3 for Crypto Fraud […]
After wreaking havoc across the digital asset sector and stealing millions of dollars, scam-as-a-service kingpin ‘Pink Drainer’ has vowed to erase all traces of its operations and announced the winding down of its nefarious infrastructure. In an unexpected statement shared via Telegram, Pink Drainer, the wallet drainer tool known for siphoning funds from cryptocurrency wallets, […]
Blockchain analytics company Elliptic said that its researchers have made progress in leveraging artificial intelligence (AI) to detect money laundering in Bitcoin. A recent paper detailing this research was co-authored with researchers from the MIT-IBM Watson AI Lab. Elliptic revealed a successful identification of illicit proceeds deposited at a cryptocurrency exchange, new patterns of money […]
A New York court and the Federal Bureau of Investigation (FBI) have revealed an indictment against Idin Dalpour. The 39-year-old New York resident is accused of organizing a sophisticated Ponzi scheme that allegedly defrauded investors of $43 million. $43 Million Ponzi Scheme According to the indictment, he ran the Ponzi scheme from approximately 2020 through […]
On April 29, Dutch law enforcement arrested a man believed to be connected to the fraudulent activities associated with the ZKasino internet gambling platform. During the operation, authorities confiscated assets valued at approximately 11.4 million euros ($12.2 million), including cryptocurrency, real estate, and luxury vehicles. Dutch Authorities Seize Millions in Assets According to a Fiscal […]
Jabara Igbara, commonly known as “Jay Mazini,” who boasted of being a crypto millionaire on Instagram, has been sentenced to seven years in prison by U.S. District Judge Frederic Block. The sentence on wire fraud and money laundering charges also mandates Igbara to forfeit $10 million. Jay Mazini Labelled a “Crypto Con Man” According to […]
The X account of famous actor Tom Holland, which has over 7 million followers, was recently hacked. The attackers used his platform to promote a fake cryptocurrency and NFT scheme. Fake ‘Spiderverse’ Partnership with Binance The compromised account was used to announce a partnership with the global crypto exchange Binance, supposedly launching “Spiderverse” tokens. A […]
The crypto sleuth ZachXBT has warned about a group of scammers who are attempting to lure more victims by using millions in stolen funds in a new scheme. The investigation found that the same group who stole from projects like Magnate, Kokomo, Lendora, and Solfire is now back with a new project on Blast, Leaper […]
The Southern District of New York announced that Irina Dilkinska was sentenced to four years in prison by US District Judge Edgardo Ramos for her involvement in the extensive OneCoin fraud scheme. Dilkinska served as OneCoin’s former legal and compliance officer who was caught and extradited from Bulgaria to the United States in March 2023. […]