SEC settles with trading firm over $4M ‘AI-washing’ scheme
The SEC alleged that Rimar LLC’s executives overstated the AI capabilites of Go to Source
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South Korean Lawmakers Call for Full Investigation Into KOK Token Crash
Two South Korean lawmakers have called for a full investigation into the KOK token after its value collapsed to almost zero. Victims have accused Korea’s largest newspaper of promoting the scam, sparking concerns about its role. The alleged cryptocurrency fraud has caused an estimated $3 billion in losses, affecting about 1.86 million investors worldwide. Korean … Read more
Ohio’s New Crypto Fraud Unit Claims First Victory, Recovers $130K From Scam
The Ohio Bureau of Criminal Investigation’s new Electronic Fraud Investigations unit has recovered $130,000 from a cryptocurrency scam in its first victory. The unit was established to address the growing complexity of cyber financial crimes, particularly those involving cryptocurrency. Ohio’s New Fraud Unit Recovers $130K From Crypto Scam Ohio Attorney General Dave Yost announced on … Read more
FBI Creates Crypto Token to Expose Fraud — Seizes $25M in Cryptocurrency, Charges 18
Eighteen individuals and entities have been charged with fraud and market manipulation in the cryptocurrency industry. The charges involve deceptive practices such as wash trading and pump-and-dump schemes that inflated token prices, resulting in the seizure of $25 million in cryptocurrency. As part of “Operation Token Mirrors,” the Federal Bureau of Investigation (FBI) created a … Read more
Inside the pig butchering scam: Crypto victims share their stories
The latest Cointelegraph video explores one of the most dangerous crypto scams, “pig butchering,” by sharing some of the victims’ real stories. Go to Source
SEC Flags Risks in Crypto and Emerging Tech Investment Scams
The U.S. Securities and Exchange Commission (SEC) is raising alarms about the growing risks of cryptocurrency scams and other investment fraud during World Investor Week 2024. Amid the rising influence of AI, social media, and aggressive financial marketing, investors are struggling to find reliable advice. The agency is focusing on scams involving cryptocurrencies, financial grooming, … Read more
Revolut prevents $13.5M of ‘potential fraud transactions’ in crypto
Revolut has been under fire as fraud complaints piled up in 2024, but the company has insisted it saved hundreds of millions in “potential fraudulent transfers.” Go to Source
New York Regulator Hiring Blockchain Analyst to Tackle Crypto Crimes
New York’s financial regulator has a job opening for a Virtual Currency Senior Blockchain Analytics Analyst. The permanent position focuses on preventing financial crimes such as money laundering and fraud by ensuring compliance in the growing virtual currency sector. The role involves using blockchain analytics to monitor risks. Applications are due by Oct. 14. New … Read more
Crypto Fraud Ring Dismantled by Vietnamese Authorities
Vietnamese authorities have reportedly dismantled a cross-border fraud ring involved in romance scams and fraudulent cryptocurrency schemes. Led by foreign criminals, the group operated from Laos and defrauded victims of tens of billions of dong. Key Vietnamese suspects, trained in digital deception, have been arrested for their roles in the scheme, which included using fake … Read more
Crypto Ponzi Leader Receives 121-Month Prison Sentence
David Carmona, founder of the Icomtech cryptocurrency Ponzi scheme, has been sentenced to over 10 years in prison for defrauding investors with false promises of profits. His scheme targeted working-class people with the lure of financial freedom through cryptocurrency trading and mining, none of which actually took place. Lavish expos were held to entice more … Read more