FBI reports Americans lost $5.6B to cryptocurrency fraud in 2023
The elderly were the most vulnerable, and crypto ATMs have a variety of illicit uses, the report found. Go to Source
cryptocurrency fraud
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Crypto pyramid scheme leader extradited to China after global pursuit
As digital currencies continue to gain popularity worldwide, the risk of related economic crimes also increases. Go to Source
Arizona AG Warns Scammers Always Find New Ways to Steal Your Money With Crypto
Arizona Attorney General Kris Mayes has issued a warning about the rising threat of cryptocurrency scams targeting vulnerable individuals, especially seniors. These scams include fraudulent investment schemes, impersonation of businesses or government entities, and blackmail, exploiting the public’s lack of cryptocurrency knowledge. Mayes urged residents to verify suspicious claims, avoid sharing personal information, and report … Read more
CFTC Warns of Follow-on Frauds Targeting Victims Multiple Times
The Commodity Futures Trading Commission (CFTC) warns about repeated fraud targeting victims multiple times, often by the same criminals. Common fraud types include relationship crypto frauds, also known as “pig butchering,” where scammers form online relationships, encourage investments in bogus crypto trading schemes, and then steal funds. Victims often face additional scams, such as fraud-recovery … Read more
Hong Kong Police Arrest Quartet Accused of Using Counterfeit Banknotes to Swindle Crypto Traders
A group of four Hong Kong fraudsters, who swindled victims’ digital assets worth $1.4 million between October 2023 and July 2024, have been apprehended. The suspects, aged 14 to 39, are charged with conspiracy to defraud and possession of 5,000 counterfeit banknotes. According to Hong Kong laws, producing and circulating counterfeit currency can result in … Read more
HK police arrest four, including teen, in HK$11M crypto fraud
The authorities continue to urge the public to remain cautious and verify the legitimacy of financial transactions to avoid falling victim to such elaborate scams. Go to Source
Nigerian police arrest crypto star in fraud crackdown
As investigations proceed, the outcome of this case could set significant precedents for how cryptocurrency-related crimes are handled in Nigeria. Go to Source
Nigerian prison doctor detained over Binance executive’s health concerns
Gambaryan’s family has expressed concern about his well-being and appealed to the EFCC to release him and pursue its investigation into Binance instead. Go to Source
Filipino artists hacked to promote XRP scam
Ben&Ben, a nine-piece pop band with over three million YouTube followers, started live-streaming a fraudulent XRP advertisement. Go to Source
Law Enforcement Holds Positive Views on Crypto Despite Crime Concerns, Chainalysis Reports
Blockchain analytics firm Chainalysis has found that law enforcement finds cryptocurrency relevant to many investigations and holds positive overall views. The firm also notes the growing adoption of cryptocurrency and its increased criminal exploitation, including intellectual property theft and drug trafficking. Despite the availability of various tools, many respondents are dissatisfied with current resources, highlighting … Read more
