September 3, 2024 at 04:42PM The FTC reported a significant increase in losses from Bitcoin ATM scams, reaching over $110 million in 2023 and $65 million in the first half of 2024 for Americans. Scammers impersonate authorities to convince victims to deposit cash, with consumers aged 60 and older being more vulnerable. The FTC provided … Read more
July 11, 2024 at 06:55PM In 2023, the cryptocurrency industry saw a surge in cybercrime, with ransomware attacks, money laundering, and stolen funds being prevalent. Despite a decrease in money laundering, the value of stolen funds decreased, and cryptocurrency scams remained significant. Darknet markets showed signs of recovery but didn’t reach previous revenue levels. Vigilance … Read more
July 10, 2024 at 04:33AM Cryptocurrency analysts uncovered HuiOne Guarantee, an online marketplace utilized by cybercriminals in Southeast Asia, facilitating transactions totaling at least $11 billion and primarily associated with pig butchering scams. Connected to Cambodian conglomerate HuiOne Group, it offers money laundering services and engages in various fraudulent activities, targeting victims worldwide. Elliptic’s report … Read more
June 27, 2024 at 06:45AM Threat actors are exploiting the 2024 Olympics to lure victims into investing in ICO scams, using AI-generated images for fake ICO websites. With a surge in cybercriminals targeting major events, potential investors are at risk of losing money as scams promise returns but vanish, leaving victims with worthless assets. The … Read more
May 17, 2024 at 12:06PM The U.S. Department of Justice charged two suspects for leading a crime ring that laundered over $73 million from cryptocurrency scams known as “pig butchering.” Victims were lured through messaging and social media platforms, with funds drained into accounts under the fraudsters’ control. The defendants face up to 20 years … Read more
March 13, 2024 at 08:33AM US law enforcement seized $1.4 million worth of Tether tokens in a tech support scam targeting elderly victims. Perpetrators posed as tech support employees and bank representatives to fraudulently obtain victims’ funds, totaling over $12.5 billion in reported losses for 2023. The FBI identified and froze the fraudsters’ accounts, with … Read more
January 8, 2024 at 04:07PM Netgear and Hyundai MEA Twitter accounts, with over 160,000 followers, were hijacked to promote cryptocurrency scams, involving malware aimed at draining victims’ cryptocurrency wallets. Hyundai recovered its account, while Netgear is still compromised. Verified government and business accounts are increasingly targeted for similar scams, with cryptocurrency ads and phishing sites … Read more
January 6, 2024 at 11:46AM Cybercriminals are exploiting X ads to promote crypto scams including fake airdrops and drainer sites, targeting those interested in cryptocurrencies. X’s advertising algorithm matches users’ interests, resulting in an increasing volume of malicious ads. Despite warnings and skepticism over X’s ad vetting, it’s reported that malicious ads have significantly grown, … Read more
January 4, 2024 at 01:40PM Verified X (formerly Twitter) accounts with ‘gold’ and ‘grey’ checkmarks are increasingly targeted by hackers for cryptocurrency scams, including accounts of government, business, and official organizations. CloudSEK report shows compromised accounts sold in a black market for $1,200-$2,000, with hackers also offering to affiliate scam accounts to verified gold accounts … Read more
December 14, 2023 at 02:54PM Four suspects, including residents of California and Illinois, have been charged by the U.S. Department of Justice in a pig butchering fraud scheme, leading to over $80 million in losses for victims. They are accused of money laundering and operating shell companies to launder profits from cryptocurrency scams, ultimately siphoning … Read more