NY authorities announce charges related to ‘sham’ crypto recovery firm
The New York County District Attorney seized roughly $14,000 that Coin Dispute Network operators allegedly stole from users. Go to Source
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China’s crypto ban fails to stop scams as Shaanxi police arrest 4 suspects
Mainland China quickly and effectively addresses crypto fraud incidents despite banning crypto transactions a few years ago. Go to Source
Over 70% of hacked funds are lost to CeFi entities: Cyvers
Real-time threat detection and AI integrations could further bolster Web3 security, according to the CEO of Cyvers. Go to Source
$31M Neiro project on Ethereum ‘is a honeypot’ — Wazz
It’s unclear at this time whether illicit activity has taken place, but a series of red flags has brought the token under scrutiny. Go to Source
Forcount crypto scheme promoters plead guilty to wire fraud conspiracy
On July 22, two of the five individuals who allegedly stole $8.4 million from investors between 2017 and 2021 by promoting Forcount pleaded guilty. Go to Source
Angel Drainer reportedly shuts down after devs potentially identified
Two hours after Match Systems claimed to have discovered the identity of Angel Drainer developers, users began complaining that the app no longer worked. Go to Source
Hong Kong flags 7 unregulated crypto exchanges for noncompliance
The Hong Kong Securities and Futures Commission added seven crypto trading platforms to its alert list for operating without licenses, raising concerns over investor safety. Go to Source
TON ecosystem scams on the rise: How to stay safe
As the TON blockchain is open-source and permissionless, individual users and projects must be careful to ensure their own safety. Go to Source
FTC Warns: Social Media Investment Scams on the Rise
The U.S. Federal Trade Commission (FTC) has warned consumers about a surge in social media investment scams, especially in cryptocurrency. These scams involve fraudulent messages claiming guaranteed high returns with little or no risk. The FTC advises ignoring such messages and reminds consumers that all investments carry inherent risks. FTC Issues Warning on Social Media … Read more
Crypto losses from fraud and hacks declined 12% in May — Immunefi
The decline in crypto scams and frauds continued, with only $52 million lost in May compared to $59 million the previous year. Go to Source
