AI-powered romance scams leverage chatbots and deepfakes to deceive crypto users, posing new challenges in fraud prevention.
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California resident Ken Liem has accused three banks of failing to perform adequate checks that could have blocked the scammers from opening accounts in the first place.
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South Korean police arrested 215 individuals, including a Youtube influencer, for their role in perpetrating a $232 million crypto scam. 28 Fraudulent Digital Assets Issued The South Korean police recently arrested 215 individuals implicated in a virtual assets scam that fleeced approximately $232 million (325 billion won) from about 15,000 investors. Victims were entrapped by […]
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South Korea has been taking steps to suppress crypto scams. This latest one is the biggest ever though.
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The fraudsters stole $21.6 million from over 40,000 investors to fund their lavish lifestyle, which also reportedly included $100,000 spent on sex workers.
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South African bank Capitec has blocked electronic funds transfers and real-time payments to cryptocurrency exchanges as a security measure. While Capitec acknowledges growing interest in cryptocurrencies, the bank maintains that the measure is necessary to protect clients from fraud. Some industry players view this move as an attempt to restrict crypto trading. Crypto Payments Blocked […]
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The U.S. Securities and Exchange Commission (SEC) has charged multiple market makers and individuals with manipulating crypto asset markets, alleging they created fake trading activity to mislead retail investors. These schemes, including practices like wash trading, aimed to fabricate the illusion of active trading, violating securities laws. The SEC seeks penalties, including bans and disgorgement, […]
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The drama around Mango Labs just never seems to stop. Its problems are with its own members, too.
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Vietnamese police arrest five individuals linked to a crypto scam network, unraveling an offshore-led operation targeting unsuspecting victims.
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Cryptocurrency stolen in a SIM swap may lead to a precedent-setting decision on phone company responsibility.
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