Fraud

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.
Illustration by Freepik

  • 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.
Illustration by Freepik

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.
Alexander Vinnik, former owner of the now defunct BTC-e crypto exchange, arrives at a court in Greece on October 4, 2017. Sakis Mitrolidis/AFP via Getty Images

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.

Coincheck Falls Victim To Data Breach, Halts Crypto Remittance

  • An unknown third party gained access to the platform's domain registration service and send fraudulent emails to users.
  • Around 200 customers may have had their personal information leaked.

Beware: Livestream Crypto Scams On YouTube

  • The scammers are using popular figures such as Elon Musk and Steve Wozniak to try and defraud people.
  • They also buff the channels with fake subscribers and viewers to make the livestreams seem more realistic.

Blogging Platform Ghost Fights Off Crypto-Mining Malware Attack

  • It took around 24 hours to completely clean servers from the malware.
  • The firm is now working on rebuilding its entire network, and on cycling all sessions, passwords and keys as a precautionary measure.

dForce Refunds Users After $25 Million Hack

  • The attack, which took place on 29 April, exploited a known vulnerability in the ERC-777 token standard.
  • Two days after the hack, the attacker returned the stolen digital assets, after accidentally revealing his identity during a transfer.

Hacker Steals $250K From Decentralized Crypto Exchange Bisq

  • Though the software flaw has already been corrected, the attacker was still able to steal approximately 3 BTC and 4,000 XMR.
  • The software flaw came as part of a trade protocol update meant to improve decentralization, released back in October 2019.

FCA Warns Investors of a Potential Crypto Scam, Site Goes Down

  • All companies providing financial services in the UK have to be authorized by the Financial Conduct Authority.
  • The content on the Pro-Options website contained grammar and spelling errors, with some parts being rather comical.

VeChain Foundation Loses $6.6 Million in VET Token Hack

  • At 12:27 UTC on Friday, the VeChain Foundation lost around 1.1 billion VET tokens from its buyback wallet.
  • The company is already tracking the stolen funds and has informed law enforcement agencies in Singapore.

CipherTrace: Crypto Crime Losses up to $4.4 Billion

  • Two huge crypto crimes accumulated more than $3 billion in losses for users.
  • Attempts of fraud constitute the bigger percentage of crypto-related crimes, leaving the pure acts of thefts second.