Fraud

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.
Financial Conduct Authority headquarters in International Quarter London in Stratford East London. Alarmy

  • 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 CEO Sunny Lu speaking at a conference. CoinDesk

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.
Man with suitcase full of money. Freepik

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.
Hacker drawing concept. Freepik

Upbit Hacked, Loses $50 Million

  • Upbit confirmed that the 342,000 ETH that were transferred from its wallet to an unknown ethereum address was in fact a theft.
  • The exchange said that it will take "at least" two weeks before services are back to normal, and pledged to cover the loss with its own assets.

U.N. Alleges North Korea Laundered Cryptocurrency to Evade Sanctions

  • The discovery was made when the U.N. conducted an investigation into the ways North Korea evades sanctions.
  • The scheme used over 5,000 transactions in multiple countries to make the laundering "difficult to track".

Crypto Capital Executive Indicted in NY Court

  • Oz Yosef has been indicted for conspiracy to commit bank fraud, bank fraud, and conspiracy to operate an unlicensed money transmitting business.
  • The company's president, Ivan Manuel Molina Lee, has also been extradited to Poland on money laundering charges and suspicion of being part of an international drug cartel.

Fake Tor Browser Has Been Stealing Bitcoin For Years

  • The hackers used two websites to promote an "official Russian language version of the Tor Browser".
  • Even though the compromised version of the Tor Browser has been on the market for years, it has reportedly stolen only around 4.8 BTC.

Algo Capital Hacked, Lose up to $2M as Ex-CTO Takes Full Responsibility

  • Friday's hack on Pablo Yabo's phone resulted in Algo Capital loosing between $1 million and $2 million in Tether (USDT) and Algorand (ALGO).
  • Yabo has taken full responsibility for the incident, vowing to personally cover most of the stolen funds.

Head of Crypto Escrow Service Charged With $7 Million Bitcoin Fraud

  • Jon Barry Thompson has been accused of committing two counts of wire and commodities fraud offenses by the U.S. Attorney's Office.
  • Thompson also faces civil charges by the CFTC for "knowingly or recklessly making false representations to customers".

New Malware Uses Telegram to Swap Wallets Addresses on Clipboard

  • The "Masad Clipper and Stealer" clipping option currently supports a number of cryptocurrencies, such as BTC, ETH, XRP, BCH, LTC, and others.
  • The new spyware also sends your browsing data to a Telegram bot, which is then used to send commands back to the program.

Binance Assisted British Police in Investigating $50 Million Fraud

  • The cryptocurrency exchange helped the Cyber Crime Unit of the UK’s Police investigate a cybercriminal who developed and sold phishing scripts.
  • It was estimated that around 500,000 people were affected and that the phishing scripts helped other criminals acquire around $51 million.

3 Alleged North Korean Hacker Groups Sanctioned By the U.S.

  • The Lazarus Group, Bluenoroff and Andariel have alegedly been responsible for hacking five exchanges in Asia between 2017 and 2018.
  • As a result of the sanctions, all assets owned by the hacking groups have been blocked, and must be reported to the Office of Foreign Assets Control (OFAC).

North Korea Denies Stealing $2 Billion Through Crypto Exchanges & Banks

  • North Korea has denied the accusations and has claimed that the U.S. and "other hostile forces" have been spreading "ill-hearted rumors".
  • The DPRK statement is in response to a report presented to the U.N., claiming use of hacks with the purpose to raise funds for a WMD program.

Fortnite Aimbot Cheat is in Fact a Crypto-Stealing Ransomware

  • When run, the cheat starts to encrypt the files on the player's hard drive and then deletes them if a ransom in crypto is not paid.
  • Researchers have already found two methods that can be used to decrypt affected files, without paying the crypto ransom.