Scams

The following is a sponsored guest article from Sergey Shashev, the founder of Broxus.From Community Rewards to the Hunt for “Free Money”The community has been a driving force behind the development of Web3 applications and blockchains.…

ZKasino, a DeFi platform recently embroiled in controversy, announced that it will return stolen funds to its investors at a 1:1 ratio.The platform, which Dutch authorities recently charged with stealing $30 million in user deposits, stated…

Ethereum co-founder Vitalik Buterin said the issues with ZKasino were evidence that the term “Zero-Knowledge (ZK)” has gained enough prominence in the industry to attract misuse by fraudulent actors.Buterin’s comment followed revelations…

Google has taken legal action against a group of individuals it accuses of defrauding over 100,000 people globally by distributing counterfeit crypto apps through its Google Play store, CNBC reported.The lawsuit was filed in the Southern…

The FBI’s Internet Crime Complaint Center (IC3) has released its 2023 report, revealing a significant rise in crypto-related fraud and the use of digital assets in cybercrime.The 2023 IC3 report serves as a comprehensive overview of the…

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…