Tag: scams

Aug 08 2022

CommerceBlock CEO slams US Treasury Department’s crackdown on Tornado Cash, says it ‘makes little sense’

Aug 08 2022 Published at CryptoSlate under tags  opinion regulation scams

The U.S. Department of Treasury made Ethereum-based mixer Torando Cash (TORN)the first smart contract that had ever got sanctioned by the U.S. government by banning it on August 8 to prevent North Korean criminals from laundering money....

Over $1M lost in Polygon-based Dragoma rug pull

Aug 08 2022 Published at CryptoSlate under tags  dragoma polygon rug pull scams solana

Polygon-based play-to-earn game Dragoma has allegedly been rug pulled, as over $1 million was moved from the project to centralized exchange wallets. #PeckShieldAlert...

Aug 05 2022

DeFi Sybil attack created $7.5B fake TVL on Solana from ‘anon’ developers

Aug 05 2022 Published at CryptoSlate under tags  defi rumors scams web3

An investigation led by CoinDesk has revealed that two brothers — Ian Macalinao and Dylan Macalinao — used pseudonymous developer profiles to inflate the TVL on Solana by $7.5 billion. Sybil Attacks The news is a warning to those who may be skeptical of the feasibility of a real-world Sybil attack on the crypto ecosystem....

Aug 03 2022

Chainalysis reports $2B lost in cross-chain bridge hacks

Aug 03 2022 Published at CryptoSlate under tags  analysis hacks scams

Research conducted by blockchain data platform Chainalysis estimated that $2 billion was lost from cross-chain bridge hacks so far in 2022. Chainalysis stated in the report that the issue now "represents a significant threat to building trust in blockchain technology." Moreover, researchers said bridge hacks are favored by North Korean hackers, who are...

Aug 01 2022

North Koreans reportedly targeting crypto jobs for insider access

Aug 01 2022 Published at CryptoSlate under tags  crime crypto north korea scams

Crypto thieves from North Korea are impersonating experts using fake resumes and identities, Bloomberg News reported Aug. 1. According to Bloomberg, interviews with cybersecurity experts showed that these fraudsters actively plagiarize information from legitimate profiles to apply for...

Jul 28 2022

US Senator Brown seeks safeguards disclosures from Apple, Google amid rise in fake crypto apps

Jul 28 2022 Published at CryptoSlate under tags  adoption crime regulation scams

U.S. Senator Sherrod Brown (D-Ohio) sent letters to Tim Cook, CEO of Apple, and Sundar Pichai, CEO of Google and Alphabet on July 28, asking for information about what the companies are doing to protect users from fraudulent cryptocurrency apps. The move comes after the Federal Bureau of Investigation (FBI) issued a...

Jul 27 2022

Okcoin warn of ‘elder fraud’ following recovery of $1M in stolen crypto

Jul 27 2022 Published at CryptoSlate under tags  exchanges scams

In a recent blog post, San Francisco-based crypto exchange Okcoin warned about "elder fraud," adding that the elderly are the highest risk group affected by online scams. Following an investigation, the company's risk team intercepted $1 million in stolen Ethereum and Tether and returned the tokens to the rightful owners. How Okcoin recovered the stolen...

Jul 26 2022

FatManTerra announces class action lawsuit against Terraform Labs, Do Kwon, Jump Capital

Jul 26 2022 Published at CryptoSlate under tags  legal scams stablecoins

The now renowned Dark Knight of Terra, FatManTerra, has announced a class action lawsuit through US solicitors, Scott+Scott in an attempt to recoup UST investments following the collapse of the Terra ecosystem. Lawsuit Sign-Up Link Announcement for UST Victims On May 11, as UST...

Cryptojacking in finance soared 269% in H1 2022

Jul 26 2022 Published at CryptoSlate under tags  crime scams

Cryptojacking in the finance sector went up by 269% in the first half of this year, cybersecurity firm SonicWall reported. The finance sector, which used to experience nearly the least numbers of cryptojacking incidents, faced the highest number of attacks this year, the report stated. In fact, the number of cryptojacking attacks in the finance...

Titanium Blockchain CEO pleads guilty in $21M fraudulent ICO case

Jul 26 2022 Published at CryptoSlate under tags  legal scams

Titanium Blockchain founder and CEO Michael Alan Stollery pleaded guilty to conducting a fraudulent initial coin offering (ICO) touted to be worth $21 million. Stollery's operation was unregistered and soaked in falsities Stollery, was charged by a Los Angeles district court earlier in June on one count of securities fraud. The prosecutor alleged that Stollery lured...

Jul 25 2022

Teddy Doge developers pull out $4.5 million in alleged ‘soft rug pull’

Jul 25 2022 Published at CryptoSlate under tags  crime scams

Investors of BNB chain-based meme coin Teddy Doge (TEDDY) have become the latest victim of a "soft rug pull," blockchain security and analytics firm PeckShield alleged in a July 25 tweet. Rug pulls refer to scams where developers of a cryptocurrency project attract investors and then abandon the project and abscond with the money. Wallets connected to developers of the project got hold...

Jul 23 2022

A Newcomer’s Perspective On Toxic Bitcoin Maximalism

Toxic Bitcoin Maximalism can serve an important purpose to ward off newcomers from scams and altcoins, but is there a time when the toxicity is too much?This is an opinion editorial by Boomer, a long-time and active member of the financial independence/retire early (FIRE) movement and a contributor for Bitcoin Magazine.I was recently inspired after reading Tomer Strolight’s piece, “...

Jul 21 2022

FBI detects fake crypto apps that scammed $42.7M from 244 victims

Jul 21 2022 Published at CryptoSlate under tags  crime hacks scams web3

The U.S. Federal Bureau of Investigation (FBI) detected three fake crypto apps that stole around $42.7 million from 244 victims between October 4, 2021, and May 13, 2022, and recently issued a public warning against such fraudulent applications. According to the FBI, these cybercriminals are using the names and logos of legitimate U.S. Businesses to attract investments. The Bureau advises all users...

Jul 19 2022

Web3 space has lost $1.48 billion to cyberattacks since January

Jul 19 2022 Published at CryptoSlate under tags  crime hacks scams web3

The web3 space has lost $1.48 billion to various scams and attacks between January and May 2022, with only four incidents responsible for 81% of that number, a recent study by cybersecurity company Hacken revealed....

Jul 16 2022

Mixer usage sees all-time high thanks to nation-affiliated cybercriminals

Jul 16 2022 Published at CryptoSlate under tags  analysis crime defi privacy scams

Crypto mixer usage reached an all-time high in 2022 with a significant contribution from sanctioned entities and cybercriminals with known state affiliations, according to Chainalysis' recent report. The numbers show that the value received by mixers reached its all-time high of $51.8 million on April 19, 2022....

Jul 12 2022

FatMan Terra reveals inner workings of alleged DOCK pump and dump scheme

Jul 12 2022 Published at CryptoSlate under tags  binance crypto dock rumors scams

FatMan Terra, in a Twitter thread, revealed how an unnamed "friend" pumped Dock (DOCK) via billboard advertisements and a BitBoy Crypto video. Thought it would be fun to share a story from last year where I watched a friend of mine pump a sh*tcoin on Binance by buying billboards and a BitBoy Crypto...

Hackers steal over $4.7M from Uniswap V3 via phishing attack

Jul 12 2022 Published at CryptoSlate under tags  exchanges scams

Hackers stole over 4295 Ethereum (ETH), worth more than $4.7 million, from decentralized exchange Uniswap via a phishing attack on July 11, between around 14:00 UTC and 23:00 UTC. Binance CEO Changpeng 'CZ' Zhao noticed the...

Jul 04 2022

Hacker wants 10 Bitcoin in exchange for Chinese citizens’ stolen data

Jul 04 2022 Published at CryptoSlate under tags  bitcoin china crime hacks scams

An anonymous hacker has offered to sell the stolen personal data of over 1 billion Chinese citizens for 10 Bitcoin (BTC), roughly $200,000. The data includes the names, birthplaces, addresses, phone numbers, national ID, criminal information, and other information of private citizens in the country. The...

Jul 01 2022

CFTC charges Mirror Trading International with alleged fraud of $1.7 billion worth of Bitcoin

Jul 01 2022 Published at CryptoSlate under tags  crime legal scams trading

The Commodity Futures Trading Commission (CFTC) has charged Cornelius Johannes Steynberg and his company Mirror Trading International (MTI), with fraud and registration violations. The South African trading company is the subject of a complaint filed by the CFTC on June 30, 2022, which alleges that Steynberg launched and used MTI to operate a global foreign currency commodity pool worth over $1.7 billion....

Jun 30 2022

FBI Adds OneCoin Founder Ruja Ignatova ‘Crypto Queen’ to Its Top 10 Most Wanted List

Jun 30 2022 Published at CryptoSlate under tags  crime legal scams

OneCoin founder Ruja Ignatova, also known as "Cryptoqueen," was added to the list of the FBI's Ten Most Wanted Fugitives for her role in allegedly defrauding investors of more than $4 billion. This action was taken by...

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