Three crypto companies and 15 individuals have been charged with extensive fraud and market manipulation. This follows an unprecedented investigation by the US Federal Bureau of Investigation (FBI), which involved creating a new digital token to help expose criminal activity in the sector. Federal prosecutors in Boston announced charges against Gotbit, ZM Quant, and CLS […]
An 86-year-old former attorney, David Kagel, has been sentenced to five years of probation for organizing a multimillion-dollar cryptocurrency Ponzi scheme that defrauded investors out of nearly $15 million. The judgment, filed on October 8 in a Las Vegas federal court, also requires him to pay $14 million in restitution to his victims. $15M Crypto […]
A recent cyberattack has led to an unsuspecting crypto investor reportedly losing 15,079 fwdETH, worth roughly $36 million. In the incident, described by security experts as a permit phishing scam, the bad actor tricked the user into unknowingly signing a malicious signature, which gave the thief full access to the individual’s funds. How it Happened […]
Cardi B, took to her X account to promote a new meme coin named after her iconic track. However, there have been concerns surrounding the promotion, with security experts suggesting the account may have been compromised. Cardi B Shares $WAP Video The rapper, who has been in the news lately after claims emerged that she […]
WalletConnect has warned crypto users about a fake app previously available on the Google Play Store. In a September 29 post on X, the organization behind the open-source protocol that enables secure connections between crypto wallets and decentralized applications (dApps) said the offending app has since been removed from Google Play, but not before it […]
Last month, the crypto space experienced $313 million in losses due to over ten different hacks. Of the total stolen funds, 93.5% were lost in two large phishing attacks that occurred during that time. August Cases According to a post by blockchain security firm PeckShield, the two incidents combined for a loss of about $293.4 […]
Australians reportedly lost at least AUD 180 million (approximately $122 million) to cryptocurrency investment frauds over the past year. Victims under 50 now make up around 60% of scam reports, overtaking older Australians, who are typically considered more vulnerable to such projects. Crypto-Based Investment Scams in Australia The data, gathered by the Australian Cyber Security […]
The U.S. Securities and Exchange Commission (SEC) has brought charges against two brothers for running a $60 million Ponzi scheme. Notably, the complaint was filed on August 26 in the United States District Court for the Northern District of Georgia in Atlanta. SEC Freezes Assets in Scam According to the regulator’s filing, Jonathan Adam and […]
A former Kansas bank executive was sentenced to 293 months in federal prison for embezzling $47.1 million in a cryptocurrency fraud scheme that led to the collapse of Heartland Tri-State Bank (HTSB). Shan Hanes, 53, the former CEO of HTSB, pleaded guilty to one count of embezzlement by a bank officer. $47M Crypto Fraud Court […]
Binance announced that it has prevented over $2.4 billion in losses from potential scams and fraudulent activities that could have impacted more than 1.2 million users from January to July 2024 owing to its risk management measures. According to the official press release shared with CryptoPotato, Binance employs an internal risk engine that provides 24/7 […]