Fraud

Top Korean Exchange Seized After Allegations Of Wash Trading

  • The Seoul Metropolitan Police has estimated that Coinbit netted around 100 billion won ($84 million) through wash trading.
  • The investigation alleges that the exchange faked up to 99% of its trading volume between August 2019 and May 2020.
Gangnam-gu (Gangnam district) in Seoul, South Korea where Coinbit's headquarters resided. Flickr

  • The Seoul Metropolitan Police has estimated that Coinbit netted around 100 billion won ($84 million) through wash trading.
  • The investigation alleges that the exchange faked up to 99% of its trading volume between August 2019 and May 2020.
LinkedIn office in Toronto, Canada on 2 June, 2016. Wikimedia Commons

Hacker Group Attacking Blockchain Firms Through LinkedIn

  • The group used fake job postings on the social network to enable the scheme.
  • The job offers would contain a document that would execute malicious code when opened, implanting malware and extracting crypto-related information.
Illustration from Investopedia

7 Investment, Crypto-Related Websites Blacklisted by Cyprus SEC

  • According to the CySEC memo, none of the seven blacklisted companies had been granted approval for providing investment services in the country.
  • One of the websites went as far as to promote its ability to double a person's BTC in 60 seconds .
Tor browser wallpaper. HipWallpaper

Report: Hacking Operation Controlled 24% Of Tor Exit Relays

  • The hackers focused primarily on mixer services and other cryptocurrency-related websites.
  • At present, their reach has been reduced to only 10%, but a full solution is yet to be implemented.

German Authorities Seize $30M In Crypto From Online Streaming Site

  • One of the alleged operators of illegal streaming site movie2k.to voluntarily forfeited the Bitcoins.
  • The two main operators started buying large amounts of BTC in 2012, and later used the cryptocurrency to acquire various properties.

Chinese Police Arrest 27 Suspects Allegedly Behind PlusToken’s $5.7 Billion Bitcoin Scam

  • This is the first time that Chinese police act to bring down a large-scale Ponzi scheme using BTC as a means of exchange.
  • Investigators have so far uncovered 109 alleged leaders and core members, operating from countries all over the world.

Twitter Claims Hackers Targeted Around 130 Accounts

  • From the 130 accounts the hackers were targeting, only a "small subset" sent tweets asking for Bitcoin.
  • Data from Chainalysis shows that around $126,000 have been transferred to the hacker's addresses so far.

Twitter’s Bitcoin Scam Explained

  • Reportedly, the hackers paid a Twitter insider to help them manage the takeover of accounts.
  • The social media platform has since taken "significant" steps in order to limit the access to its internal systems.

Nigeria’s SEC Deems “World’s First Philanthropic Blockchain” Illegal, Unregulated

  • The commission has publicly announced that IBSmartify products are not registered or regulated.
  • Any person dealing with IBSmartify will assume personal responsibility for their actions.

DeFi Protocol Loses $500K Due To Hack

  • The attack exploited a loophole that tricked the protocol into releasing $500,000 worth of tokens.
  • In order to hide his tracks, the hacker used ether that was laundered through Tornado Cash, an Ethereum-based mixer.

Hacker Group Allegedly Stole $200M In Exchange Hacks

  • Known as CryptoCore, the group has been linked to atleast five known cryptocurrency exchange hacks.
  • Though with unknown origins, the group is believed to be connected to the East European region, Ukraine or Russia.

New Zealand Authorities Seize $90M Connected To Now Defunct BTC-e Exchange

  • The New Zealand Asset Recovery Unit reportedly coordinated with the U.S. IRS in order to address the lost funds.
  • Vinnik was extradited to France earlier this year, and has been charged with counts of extortion and aggravated money laundering.

SEC Alleges Brothers’ Digital Asset Fund Was a Scam

  • In less than a year, the brothers were able to collect as much as $31 million on one of their accounts.
  • The SEC alleges that the Hvizdzaks moved nearly $26 million into their personal bank and crypto exchange accounts.

Crypto Exchange Owner Laundered $1.8M In Fake Auctions Scheme

  • The DoJ has so far received 15 guilty pleas from individuals involved in the scheme.
  • The owner of the now defunct crypto exchange CoinFlux has also admitted to laundering around $1.8 million worth of Bitcoin.