Crypto Exchange Binance Joins Forces With Law Enforcement to Launch Anti-Scam Campaign

Crypto Exchange Binance Joins Forces With Law Enforcement to Launch Anti-Scam CampaignBinance has launched its Joint Anti-Scam Campaign in collaboration with law enforcement agencies worldwide to fight “an alarming uptrend” in crypto-related scams, the cryptocurrency exchange said. “So far, the project has achieved tremendous results,” Binance claimed. Binance’s Joint Anti-Scam Campaign Cryptocurrency exchange Binance announced Friday that it recently launched a campaign to combat cryptocurrency-related scams […]

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Chainalysis: Crypto Scam Revenue Dropped 46% in 2022

Chainalysis: Crypto Scam Revenue Dropped 46% in 2022Revenue from cryptocurrency scams dropped 46% in 2022, according to blockchain data analytics firm Chainalysis. “We attribute most of this decline to market conditions, as scam performance tends to worsen when cryptocurrency prices are in decline,” the firm explained. ‘Crypto Scam Revenue Fell Significantly in 2022’ Blockchain data analytics firm Chainalysis published its 2023 Crypto […]

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US State Regulator Launches Crypto Scam Tracker

US State Regulator Launches Crypto Scam TrackerThe California Department of Financial Protection and Innovation (DFPI) has launched a cryptocurrency scam tracker to help residents “spot and avoid crypto scams.” The regulator stated: “As reports of new crypto scams emerge, the DFPI will continually update this tracker to promptly alert and protect the public.” California Regulator’s Crypto Scam Tracker The Department of […]

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NYU Professor ‘Dr. Doom’ Says 99% of Crypto Is a Scam — Tells Investors to ‘Absolutely Stay Away’

NYU Professor 'Dr. Doom' Says 99% of Crypto Is a Scam — Tells Investors to 'Absolutely Stay Away'NYU Professor Nouriel Roubini, aka Dr. Doom, has warned that “99.99% of crypto is a scam, a criminal activity, a total real-bubble Ponzi scheme that is going bust.” He advised investors to “absolutely stay away” from crypto, claiming that most people in the crypto space are “all crooks.” Dr. Doom Warns Nearly 100% of Crypto […]

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Authorities in Germany, Bulgaria, Serbia, Cyprus Take Down Crypto Scam Network

Authorities in Germany, Bulgaria, Serbia, Cyprus Take Down Crypto Scam NetworkAuthorities in Germany, Bulgaria, Serbia, and Cyprus have taken down a cryptocurrency scam network in collaboration with Europol. “The suspects used advertisements on social networks to lure victims to websites covertly operated by the criminals, which offered seemingly exceptional investment opportunities in cryptocurrencies,” Europol detailed. Authorities Cracking Down on Cryptocurrency Scams Europol announced Thursday that […]

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US State Issues Order Freezing Crypto at Exchanges in Pig Butchering Scam Crackdown

The Delaware Department of Justice’s Investor Protection Unit has issued a cease and desist order against 23 entities and individuals involved in a popular cryptocurrency scam known as “pig butchering.” The order also freezes the accounts allegedly holding cryptocurrencies belonging to the victims. Delaware Cracks Down on Pig Butchering Crypto Scam The attorney general of […]

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US Regulator: Investors Reported Losing Over $1 Billion in Crypto to Scams Since 2021

US Regulator: Investors Reported Losing Over $1 Billion in Crypto to Scams Since 2021The U.S. Federal Trade Commission (FTC) has revealed that more than 46,000 people have reported losing over $1 billion in cryptocurrency to scams since the beginning of last year. FTC Says Scammers Stole Over $1 Billion in Crypto The U.S. Federal Trade Commission published a “Data Spotlight” report on crypto scams Friday. The FTC is […]

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Idaho Warns of Crypto Scams Promising 80% Returns Every 24 Hours

Idaho Warns of Crypto Scams Promising 80% Returns Every 24 HoursThe finance department of the U.S. state of Idaho has warned investors of a series of cryptocurrency scams promising returns as high as 80% every 24 hours with no risks to investors. Crypto Scams Promising High Returns The Idaho Department of Finance announced Wednesday “a series of fraudulent cryptocurrency schemes seen recently targeting Idaho investors.” […]

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Better Business Bureau Warns About Cryptocurrency — BBB Ranks Crypto Scams Second Riskiest

US Better Business Bureau Warns About Cryptocurrency Scams — BBB Report Ranks Crypto as Second Riskiest ScamThe U.S. Better Business Bureau (BBB) says cryptocurrency scams have become the second riskiest. In addition, the organization noted that “Payment made via cryptocurrency that resulted in a monetary loss more than doubled from 2020.” BBB Sees Rising Crypto Scams The U.S. Better Business Bureau (BBB) released its 2021 BBB Scam Tracker Risk Report Friday. […]

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FTC Warns of Romance Scams Luring People Into Bogus Cryptocurrency Investments

FTC Warns of Romance Scams Luring People Into Bogus Cryptocurrency InvestmentsThe U.S. Federal Trade Commission (FTC) has warned about romance scams using cryptocurrency. Scammers use romance as a hook to lure people into bogus investments, especially crypto, the federal agency explained. “2021 numbers are nearly five times those reported in 2020, and more than 25 times those reported in 2019,” said the FTC. FTC Warns […]

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