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The blockchain security firm has uncovered a new tactic used by crypto scammers as the industry continues to improve its fraud detection capabilities. Go to Source Powered by WPeMatico
The FBI says alongside regular methods of payment such as wire transfers and prepaid cards, crypto ATMs are also becoming a prominent tool for crypto investment scammers. Go to Source Powered by WPeMatico
An increasing number of financial and crypto pyramids targeting Russian investors have been opening physical offices in the country. The Central Bank of Russia has recently expressed concern over the trend which is seen as an indication that the fraudsters expect growing demand. Russian Crypto Scams Launch Offices to Lure More Investors In-person, Bank of … Read more
Chainalysis has found that illicit crypto volumes are down this year, with total scam revenue sitting at $1.6 billion, 65% lower than where it was through the end of July last year. “Those numbers suggest that fewer people than ever are falling for cryptocurrency scams,” the blockchain data analytics firm wrote. Data Shows Illicit Crypto … Read more
The interior ministry of Russia has decided to go after those providing money-laundering services to crypto fraudsters, suggesting they should go to prison. The department wants to introduce criminal liability for the activities of these people, also known as ‘droppers.’ Law Enforcement in Russia Targets Droppers Involved in Fraudulent Crypto Schemes The Ministry of Internal … Read more
About 22% of South Africa’s adult population, or 7.6 million people, are cryptocurrency investors, findings by a study done by Kucoin cryptocurrency exchange have shown. According to the study, 72% of the respondents said they get information concerning particular crypto projects via social media. Influencers and media personalities were also found to be key opinion … Read more
A rapidly growing crypto market means that hacks and scams are accounting for less overall activity, and their percentage of total usage continues to decline. Go to Source Powered by WPeMatico
The 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 … Read more
Australian consumer group CHOICE outlined its crypto regulatory framework in a submission to the country’s Treasury calling for the new federal government to prioritize crypto in its financial services reforms. Go to Source Powered by WPeMatico
The Department of the Interior of Uruguay is taking steps to warn users about the danger they face when investing in certain crypto projects that could be scams. The campaign is called “Fake Coins: Cryptocurrency Scams” and seeks to educate the population about the most common kinds of crypto scams. Uruguay Educates on Crypto-Related Scams … Read more
