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Of all funds sent to illicit cryptocurrency addresses from Eastern Europe, scams attract the greatest amount, according to a new report. In the past year alone, crypto addresses based in the region have sent the fraudulent schemes a staggering $815 million in crypto. Eastern Europe Leads by Volume of Illicit Crypto Transactions Among the world’s … Read more
Scams make up the largest share of funds sent from Eastern Europe to illicit addresses. Go to Source Powered by WPeMatico
Bitcoin-related investment scams have already exceeded $18.5 million, an increase of 44% compared to the total loss of nearly $12.8 million in 2020. Go to Source Powered by WPeMatico
China’s cryptocurrency transactions related to criminal activities have decreased significantly over the past couple of years, a new report suggests. At the same time, its special administrative region of Hong Kong is seeing a spike in crypto-related crime this year, with authorities attributing the rise to the popularity of crypto investments. Chinese Crime-Related Crypto Transactions … Read more
Chinese wallets both sent and received more than $2 billion worth of crypto associated with illicit activities between April 2019 and June 2021. Go to Source Powered by WPeMatico
According to a recent study on crypto asset storage and passwords, a survey that polled over 1,000 digital currency owners shows 39.7% have forgotten their passwords. The study produced by cryptovantage.com indicates that users unable to recover their passwords lost an average of $2,134. Survey Polls 1,000 US Crypto Owners, Respondents Invest $7,245 on Average … Read more
Four men have been arrested in Aichi Prefecture for allegedly running a fraudulent crypto scheme that drew in 20,000 Japanese investors and raised 6 billion yen. Go to Source Powered by WPeMatico
Cryptocurrencies represent far less of a market for criminals compared to traditional finance, so crypto bans won’t solve the problem. Go to Source Powered by WPeMatico
TSB, a British bank, is planning to ban cryptocurrency purchases due to fraud concerns. The company reported an alarming number of fraudulent transactions on cryptocurrency purchases. Reportedly, transactions involving Binance, the cryptocurrency exchange behemoth, are involved in two-thirds of these fraud reports. A Binance representative denies these claims and said the exchange deals with complaints … Read more
The Ministry of Interior of the Islamic Republic has suspended the Iran Blockchain Association (IBA). The measure comes after the organization allegedly breached government regulations. IBA unites participants in the country’s growing crypto sector who are engaged in blockchain technology development. Iranian Authorities to Review IBA Dealings With Crypto Exchanges The Iranian government has moved … Read more