Scams

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…

Hong Kong, a global financial hub and a gateway to China, has been rocked by a massive crypto scandal involving JPEX. This Dubai-based cryptocurrency exchange allegedly defrauded thousands of investors of more than $160 million. The case…

The following is a guest post from Brendan Cochrane and Katya Gozias.“Pig butchering” scams, where victims are “fattened” up with flattery, often under the guise of romance, before handing over their assets to the scammer, are on the rise,…

Authorities in India have apprehended the perpetrators behind a multi-million dollar cryptocurrency Ponzi scheme, as reported by The Indian Express on Aug. 8. The fraud involved a cryptocurrency project known as STA Crypto Token, which…

Alphapo, a cryptocurrency payment service provider, reportedly suffered a significant security breach within its hot wallet, resulting in a loss of over $60 million, with some reports suggesting total losses could amount to around $100…