Tag: scam

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.

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.

Chinese Ponzi Scheme Defrauds Hundreds of Thousands, Victims Blame Tron and Justin Sun

  • Scammers who previously claimed association with Tron have disappeared with around $30,000,000 worth of investor's money.
  • Defrauded investors are blaming Justin Sun for his lack of dissociation with the scam.

Couple Loses Tens of Thousands in a Bitcoin Investment Scam

  • After initial success, the Yeomans family lost everything in the scam.
  • Crypto scams are getting more and more complex and harder to avoid.

US Cryptocurrency Investor Wins Over $75 Million in Sim Swapping Hack Case

  • United States cryptocurrency investor Michael Terpin has won over $75 million in a lawsuit against 21 year old Nicholas Truglia, Reuters reported last Friday.
  • According to the report, Terpin's cryptocurrencies, which were worth around $23.8 million at the time, were stolen in a SIM-swap scam in which Truglia allegedly transferred Terpin's phone number under his control, reset his passwords and accessed his online account.

Bitfinex Allegedly Used Tether Funds to Cover $850 Million Loss

  • According to the press release, New York Attorney General Letitia James and her office obtained a court order against iFinex Inc, the operator of Bitfinex, Tether Limited, and their associated entities.
  • Executives of the exchange then allegedly engaged in a series of conflicting corporate transactions with Tether, in which Bitfinex got access to up to $900 million of Tether's cash reserves.

Blockchain Transparency Institute Report: Over 80% of Top BTC-Pair Trading Volume Is Fake

  • Every crypto enthusiast knows about Binance and Coinbase, yet for some reason, a glimpse into the CoinMarketCap top volume exchanges shows a surprising picture.
  • While this looks suspicious even to the naked eye, now our suspicions can be reaffirmed by a carefully conducted study by Blockchain Transparency Institute.

U.S. Department of Homeland Security Offering $800k for Anti-Forgery Solutions

  • The Science and Technology Directorate (S&T) of the DHS announced in a press release earlier this week that they will be seeking counterfeiting solutions from startups with funding for start ups of up to $800,000 in non-dilutive funding.
  • The new funding program will be rolled out in four phases, with startups getting between $50,000 and $200,000 in funding for each phase.

Bulgarian Hackers Detained for Allegedly Stealing $3 Million in Cryptocurrency

  • Three hackers have been arrested in Pazardzhik, Bulgaria, for allegedly stealing $3 million in cryptocurrency.
  • During a raid of the thieves hideout, the special police unit was able to seize flash drives, computers and a hardware portfolio for storage of crypto data, as well as a car worth 60,000 BGN, bought with funds obtained from the illegal activity.

Four Men Face Charges Over Crypto Scam in India

  • According to the Times of India, a report has been filed by the police in the city of Chandigarh, northern India, against Hemant Bhope, Pankaj Adlakha, Amit Bhardwaj, and his brother Vivek Bharadwaj.
  • The fraudsters will face a hearing on the 4th of December, during which they will be provided with the charge-sheet and the charges will be finalized and framed.