Scams

Crypto industry losses amounted to $67 million in February over 12 incidents, with hacks accounting for 97.54% of funds stolen, according to Immunefi’s latest crypto losses report.Meanwhile, the remaining 2.46% of the funds stolen were lost…

A sophisticated social engineering campaign successfully duped several prominent crypto news outlets into promoting a fabricated $10 million Uniswap airdrop on Feb. 16. The scammer, posing as a Uniswap Foundation representative, offered…

Hong Kong’s Securities and Futures Commission (SFC) and local law enforcement have jointly issued a public warning against an entity masquerading as crypto exchange MEXC Global.The scammers are reportedly pretending to be a legitimate…

Coin Center’s Director of Research, Peter Van Valkenburgh, has issued a stark warning regarding the escalating threat posed by artificial intelligence (AI) in fabricating identities.Valkenburgh sounded the alarm after an investigative…

In January 2024 alone, cryptocurrency projects lost $127 million due to hacking and fraud – six times more than in January 2023 and three times more than last December. In the meantime, losses in the crypto industry from breaches in 2023…

In a landmark judgment, Mark Scott, formerly a high-ranking lawyer at Locke Lord LLP, received a 10-year prison sentence on Jan. 25 for laundering $400 million derived from the infamous OneCoin Ponzi scheme.The sentencing at the Southern…

Phishing scams stole around $300 million worth of cryptocurrencies from 320,000 investors in 2023, according to the yearly report from web3 security firm Scam Sniffer.Phishing scams are one of the most common means of attack against the…

GROK, a suspicious AI chatbot-inspired memecoin, has seen its value plummet by more than 50% after reports emerged that its developer was linked to a past crypto scam.The memecoin is named after Elon Musk’s Grok xAI chatbot service, which…

Brad Garlinghouse, CEO of Ripple, expressed concern over the surge in deepfake videos impersonating him to promote fraudulent schemes and false giveaways.In a Nov. 13 post on social media platform X, Garlinghouse pointed out an “uptick in…

Grave allegations of involvement in pump and dump schemes are gathering steam against the former head of OpenSea Ventures, Kevin Pawlak.According to NFT Ethics, a non-fungible token (NFT) related investigative news account on X, Pawlak has…