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A trader lost nearly $50 million in USDT after falling victim to an “address poisoning” scam. The attacker spoofed a wallet address that looked identical to the victim’s, tricking him into copying it from his transaction history. The Mechanics of Address Poisoning A cryptocurrency trader lost nearly $50 million in a single transaction on Dec. … Read more
Authorities allege a sweeping crypto phishing operation that drained nearly $16 million from Coinbase users nationwide, underscoring how social engineering scams exploit trust, move funds across blockchains, and trigger aggressive enforcement by New York prosecutors. Brooklyn Prosecutors Move Against Alleged Coinbase Phishing Scheme A major law enforcement action has highlighted growing risks tied to cryptocurrency … Read more
Federal prosecutors moved to return seized cryptocurrency after a court ordered forfeiture tied to an elderly-targeted scam, clearing the way for restitution as authorities traced bitcoin and USDT used in a multistate fraud scheme. Forfeiture Order Finalizes Recovery of Bitcoin and Tether From Elder Fraud Scheme A federal court action advanced efforts to recover funds … Read more
A state securities regulator issued 12 investor warnings ahead of year-end, cautioning that fraud activity is accelerating as scammers exploit FOMO, new technologies, and holiday urgency to lure investors into costly schemes. 12 Top Investor Threats Mount as State Regulator Warns FOMO Is Accelerating Losses State securities regulators are warning investors to stay alert as … Read more
Shima Capital is shutting down after the Securities and Exchange Commission accused founder Yida Gao of inflating his track record to defraud investors. Founder Departure and Fund Resignation Shima Capital, once one of the most prolific early-stage investors in the Web3 space, has begun a formal wind-down of its operations weeks after the Securities and … Read more
India’s financial crime agency has intensified a sweeping crackdown on an alleged cryptocurrency Ponzi empire, targeting a sprawling fake crypto MLM network accused of draining billions of rupees from investors across multiple northern states. India’s Enforcement Directorate Targets Alleged Crypto Ponzi Network India’s federal money laundering watchdog launched coordinated searches tied to an alleged cryptocurrency … Read more
A UK lawyer faces disciplinary action for allegedly threatening a Onecoin victim as regulators probe her role. Allegations of Improper Litigation Threat According to Bloomberg, a lawyer who once represented Ruja Ignatova, the fugitive founder of the Onecoin, a multibillion‑dollar crypto scam, faces disciplinary proceedings for allegedly threatening a victim of the scam. Claire Gill, … Read more
Binance suspended an employee after an internal investigation found he misused insider information to post misleading content about a token launch on the company’s official futures account. Details of the Misconduct Binance announced on Dec. 8 that it had suspended an employee accused of using insider information for personal financial gain. The suspension followed an … Read more
Ripple is escalating its defenses against a surge of XRP fraud as deepfake-driven scams intensify, spotlighting rising holiday-season risks and the company’s expanding threat-mitigation network that is sharply reducing successful crypto impersonation attacks. Ripple Ramps Crypto Fraud Shields as XRP Thieves Deploy Deepfakes Ripple issued an insight this week highlighting heightened holiday-season fraud and urging … Read more
Federal authorities recovered more than $1.7 million in stablecoins linked to a crypto scam, marking a pivotal move that clears the way for victims to recoup losses and underscores how traceable digital assets can help unravel complex fraud schemes. US Recovers Millions From Crypto Fraud Scheme U.S. Attorney’s Office for the Eastern District of Virginia … Read more
