Scams

The Biden administration plans to counter the use of cryptocurrencies during ransomware attacks by imposing sanctions. The U.S. Department of the Treasury plans to hit unnamed targets with sanctions as soon as next week, rather…

Audrey Strauss, the US Attorney for the Southern District of New York, announced that Australian national Stefan He Qin, founder of two New York-based cryptocurrency hedge funds, was sentenced to prison for 90 months. Qin is the…

An Ohio man is due to forfeit millions in cash, real estate and jewelry after pleading guilty to facilitating a fake crypto investment scheme. According to a U.S. Department of Justice (DOJ) press release, 52-year-old Michael…

A man may end up behind bars for 15 years after he was allegedly caught mining Bitcoin (BTC) and other cryptocurrencies inside the county center in Riverhead, New York. The Associated Press reports that Christopher Naples, an IT…

The following is a guest post from Josef Moser, co-founder of Cryptoradar.Crypto scams are getting more sophisticated. As more retail investors get on board the crypto train, it’s not surprising that malicious actors are trying to take…

MoonPirate collapses less than half a year after launching on the Binance Smart Chain (BSC), leaving many to question if it was a thinly veiled scam from the start. Given the history of dodgy projects on the BSC, this latest incident does…

Anonymous hackers have reportedly undermined a Russian government website in order to launch a Bitcoin (BTC) giveaway scam. The malicious actors targeted a website that belongs to local government officials in the Russian city of…

Over a dozen people have been arrested in connection with a cryptocurrency scam that preyed upon wealthy senior citizens in Taiwan. The Taipei Times reports that local Azure Crypto Co. allegedly ran an online investment scheme that…

The U.S. Securities and Exchange Commission has issued a warning to investors about scams lurking in the world of cryptocurrency investing. In a new investor alert, the SEC’s Office of Investor Education and Advocacy (OIEA) and…

A key figure in what is believed to be the biggest crypto fraud in history has pled guilty to criminal charges in a US federal court. Glen Arcaro, the director and promoter of BitConnect – a high yield crypto investment scheme that…

An alleged Bitcoin pyramid scheme has collapsed while the mastermind behind it has disappeared with over $6 million of investors’ funds. According to Zimbabwe’s The Sunday Mail, Martin Mhlanga – creator of the alleged pyramid…

A man from Northwest England man lost over $700,000 worth of Bitcoin after falling prey to an alleged investment scam advertised on YouTube. 44-year-old Naveed Saghir, who operates his own home cinema business, told the BBC in an…

During a year-long initial coin offering (ICO) that ended in 2018, EOS raised a record $4.2 billion, making it the biggest ICO in history. Combined with its Delegated Proof-of-Stake (DPoS) consensus mechanism, which has throughput thousands…

The United States Securities and Exchange Commission announced today that it has filed an action against BitConnect, its founder, and its top US promoter. In the official filing, the SEC alleges that they defrauded retail investors out of…

A new report from insights firm Chainalysis is shedding light on where the most crypto scams are happening around the world. The report focuses on crypto-related crimes in Eastern Europe, which Chainalysis says is second for…

The decentralized finance (DeFi) lending protocol Cream Finance (CREAM) suffered a hack that led to the loss of about $26 million in Ethereum (ETH) and AMP tokens. Cream Finance says the platform lost 418,311,571 AMP, currently…

A Venezuelan man allegedly faked his own kidnapping in order to steal roughly $1,100,000 worth of Bitcoin from investors. According to Douglas Rico, national director of the Cuerpo de Investigaciones Científicas, Penales y…

The primary suspect of an alleged Dogecoin mining scam in Turkey has reportedly disappeared along with $119 million worth of DOGE investments.  Local media tv100 reports that the suspect – known as “Turgut V” – arranged one-on-one…

After suffering a massive $643 million hack in early August, decentralized finance (DeFi) protocol Poly Network just retrieved all the stolen funds from the crypto hacker. On August 10th, Poly Network suffered a large hack…

Brazilian Federal Police say they’ve recovered more than $27,600,000 in Bitcoin (BTC) following a series of alleged Ponzi schemes run by one company. A Rio de Janeiro-based company headquartered in the region of Lagos was allegedly…