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A federal court has sentenced a California man to 78 months in prison for his role in a social engineering conspiracy that authorities say stole more than $250 million in cryptocurrency. The ‘Instrument of Last Resort’ A U.S. federal court has sentenced a California man to 6 1/2 years in prison for his role in … Read more
A federal judge this week entered a $4.72 billion judgment against Alex Mashinsky, the founder and former CEO of collapsed crypto lending platform Celsius Network, while permanently banning him from the cryptocurrency and financial services industries. Key Takeaways: A federal judge entered a $4.72 billion FTC judgment against Celsius founder Alex Mashinsky on April 28, … Read more
Hong Kong’s central bank warned that fraudulent tokens claiming links to HSBC and licensed issuers are circulating, even though no regulated stablecoins have been issued in the market. Key Takeaways: Hong Kong warned unauthorized tokens are misusing names of licensed stablecoin issuers. HSBC and Anchorpoint denied links to tokens labeled HKDAP and HSBC. Users should … Read more
Bitcoin fraud claims led to a federal prison sentence for Sze Man Yu Inos. The case highlights how personal trust and false investment promises can expose older victims to major losses. Key Takeaways: Inos received prison time after prosecutors described false bitcoin investment claims. Saipan victims faced wider financial harm as the scheme expanded geographically. … Read more
The Greek maritime risk management firm MARISKS has issued an urgent warning regarding a cryptocurrency scam targeting shipping companies stranded in the Strait of Hormuz. Key Takeaways: MARISKS reports unknown actors are extorting shipping firms for bitcoin and USDT to bypass the blockade. At least one tanker was hit by Iranian gunfire on April 18 … Read more
The U.S. Department of Justice has launched a compensation process for victims of the $4 billion Onecoin fraud. More than $40 million in recovered assets will be distributed to eligible claimants. Key Takeaways: U.S. DOJ launched claims for Onecoin victims, distributing $40 million from a $4 billion fraud case. The scam investment, which ran from … Read more
International law enforcement agencies led by the U.K.’s National Crime Agency froze more than $12 million in suspected criminal proceeds and identified more than 20,000 victims during a coordinated crackdown on cryptocurrency investment fraud. Key Takeaways: The NCA’s Operation Atlantic froze over $12 million in criminal crypto proceeds and identified 20,000 victims across 3 countries. … Read more
SEC warns of rising impersonation scams using official branding and fake identities to exploit investor trust, highlighting growing risks tied to social media and text-based fraud schemes targeting financial data and funds. SEC Warns Investors About Impersonation Scams, Fraud Tactics The U.S. Securities and Exchange Commission (SEC) shared on social media platform X on April … Read more
Vietnamese authorities dismantled a massive cryptocurrency fraud scheme following coordinated raids across multiple provinces, resulting in more than 140 interrogations and the seizure of extensive electronic evidence. Rapid Response and Formal Charges Authorities in Vietnam have launched a sweeping investigation into one of the country’s largest cryptocurrency fraud cases to date, detaining several high-profile figures … Read more
CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal were reportedly drawn into a police investigation in India over the weekend tied to an alleged cryptocurrency-related fraud case, with conflicting reports on whether the pair were formally arrested or questioned. CoinDCX Calls FIR ‘False’ as Founders Face Scrutiny in India Crypto Fraud Case Several reports note that … Read more