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Two cryptocurrency platforms face allegations of fraud by Washington State’s Department of Financial Institutions. Both companies allegedly lured investors with promises of huge returns, but later blocked withdrawals and demanded extra fees. An investor lost $64,000 to one platform after being asked for a “safety reserve” fee. The platforms are accused of exploiting social media … Read more
The U.S. government is taking legal action to seize 200,000 tether (USDT), worth $200,000, linked to a major cryptocurrency fraud. The funds, converted from stolen bitcoin, could soon be returned to the Ohio victim after a forfeiture trial. Investigators used blockchain technology to track the illicit funds, leading to their freeze and eventual federal seizure. … Read more
India’s Enforcement Directorate has exposed a massive $48 million scam linked to the online gaming app Fiewin, connected to Chinese nationals. Following an in-depth investigation, an equivalent of about $3 million has been frozen in accounts tied to these individuals. The scam lured users with quick earning schemes but blocked fund withdrawals. The investigation also … Read more
The U.S. Commodity Futures Trading Commission (CFTC) has initiated legal action against a fake trading platform and its associates for defrauding investors out of $3.6 million. The scheme, which targeted Asian Americans, involved soliciting funds in fiat and digital assets, with false promises of trading in commodity futures. Instead, the funds were misappropriated and diverted … Read more
U.S. authorities have seized over $6 million worth of cryptocurrency linked to a fraudulent investment scheme organized by Southeast Asian criminals. Targeting U.S. individuals, the criminals manipulated victims through fake cryptocurrency platforms. The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) recovered the funds using blockchain tracing. DOJ Seizes $6 Million in … Read more
Two Russian nationals have been charged with running a massive money laundering network that processed billions through cryptocurrency exchanges, the U.S. Department of Justice (DOJ) announced. These exchanges, including Cryptex and Joker’s Stash, enabled criminals to bypass regulations and funnel funds from fraud, ransomware, and darknet activities. U.S. authorities, in collaboration with international law enforcement, … Read more
The Federal Bureau of Investigation (FBI) Baltimore office has issued a warning about the increasing prevalence of cryptocurrency investment fraud in Maryland. Known as “pig butchering,” scammers trick victims into fake crypto investments, leading to massive financial losses. FBI Warns of Surge in Cryptocurrency Investment Scams in Maryland The Federal Bureau of Investigation (FBI) Baltimore … Read more
Crypto exchanges Binance and Tokocrypto collaborated with Indonesian law enforcement to crack down on a crypto scam, seizing $200,000 in stolen assets. “During the investigation, multiple individuals involved in managing the accounts that received the stolen funds were arrested,” Binance stated. Binance and Tokocrypto Help Bust Major Crypto Fraud in Indonesia Crypto exchange Binance announced … Read more
Two individuals have been arrested for orchestrating a large-scale cryptocurrency heist, stealing over 4,100 bitcoins. Their complex laundering operation involved using multiple mixers and VPNs to cover their tracks. With the stolen funds, they lived lavishly, buying luxury cars and other high-end items. $230 Million Cryptocurrency Fraud Uncovered, Two Charged The U.S. Attorney’s Office for … Read more
William Koo Ichioka has been ordered to pay over $36 million after admitting to a forex and digital asset fraud scheme. His scam, which started in 2018, involved falsifying financial documents and misusing investor funds for personal luxuries like cars and jewelry. In addition to financial penalties, Ichioka faces prison time. The Commodity Futures Trading … Read more
