Uncle Sam seeks to claw back $5M+ stolen from trade union through spoofed email

June 6, 2024 at 09:35AM The US Justice Department seeks to recover over $5 million stolen from a trade union by cyber scammers through a BEC scam. The fraud involved spoofing emails, recruiting money mules, and rapidly moving funds between bank accounts. The department aims to stop such scams, which cause estimated daily losses of … Read more

Indian National Pleads Guilty to $37 Million Cryptocurrency Theft Scheme

May 28, 2024 at 09:33AM Chirag Tomar, an Indian national, has pleaded guilty to wire fraud conspiracy in the U.S. for stealing over $37 million by creating a fake cryptocurrency exchange website. The site tricked users into disclosing login details, enabling the theft. The case is part of a wider crackdown on international cybercrime, including … Read more

Crypto miner arrested for skipping on $3.5 million in cloud server bills

April 15, 2024 at 02:13PM The U.S. Department of Justice has arrested and indicted Charles O. Parks III, alias “CP3O,” for allegedly using cloud servers for unauthorized crypto mining, accruing $3.5 million in charges. He exploited cloud providers through fake corporate identities, laundering the mined cryptocurrency. Charges include wire fraud and money laundering, carrying a … Read more

Web3 Game Developers Targeted in Crypto Theft Scheme

April 15, 2024 at 10:41AM A Russian threat actor is targeting game developers with fraudulent Web3 gaming projects, spreading infostealers on MacOS and Windows. The goal is to defraud and steal cryptocurrency wallets. The campaign uses fake social media accounts and impersonates legitimate projects. The report recommends maintaining vigilance, providing training to recognize social engineering … Read more

Former Security Engineer Sentenced to Prison for Hacking Crypto Exchanges

April 15, 2024 at 07:48AM Former senior security engineer Shakeeb Ahmed, 34, of New York, was sentenced to three years in prison for defrauding two cryptocurrency exchanges of $9 million and $1.4 million, using smart contract vulnerabilities to manipulate prices. Ahmed, who worked at an international tech company, must forfeit $12.3 million and pay $5 … Read more

Indian Government Rescues 250 Citizens Forced into Cybercrime in Cambodia

April 1, 2024 at 10:33AM Indian government rescued and repatriated 250 citizens from Cambodia who were coerced into cyber scams. This follows reports of over 5,000 Indians forced into “cyber slavery.” Similar efforts to free victims in China and the Philippines have been undertaken. Criminals run pig butchering scams, gaining trust under the guise of … Read more

FTX crypto-crook Sam Bankman-Fried gets 25 years in prison

March 28, 2024 at 02:05PM Crypto-king Sam Bankman-Fried has been sentenced to 25 years in jail for corporate fraud, with his legal team’s arguments largely dismissed. Bankman-Fried, CEO of FTX and co-founder of Alameda Research, used customer funds for risky investments, contributing to FTX’s collapse with $8 billion in cryptocurrency unaccounted for. Prosecutors recommended a … Read more

Web3 security firm CertiK’s X account hacked to push crypto drainer

January 5, 2024 at 12:24PM CertiK’s Twitter/X account was hijacked, redirecting 343,000 followers to a malicious website promoting a cryptocurrency wallet drainer. An investigation is underway following a social engineering attack, with rogue posts warning of vulnerabilities and leading to phishing and scams. Other high-profile accounts have faced similar breaches, underscoring the threat of cryptocurrency-related … Read more

Crypto-crook Sam Bankman-Fried spared a second trial

January 2, 2024 at 03:14PM US prosecutors have decided not to pursue a second trial for convicted crypto figure Sam Bankman-Fried. A letter cited already considered evidence and public interest for a prompt resolution. The decision could affect SBF’s March 2024 sentencing, as it would involve negotiating with The Bahamas over extradition terms. The first … Read more

Crypto scammers abuse Twitter ‘feature’ to impersonate high-profile accounts

December 21, 2023 at 04:15AM Cryptocurrency scammers are exploiting a Twitter “feature” to create deceptive URLs that appear to belong to legitimate accounts, redirecting users to unrelated posts promoting crypto scams, fake giveaways, and fraudulent channels. This technique targets high-profile accounts and could potentially lead to theft of crypto assets and NFTs. Users are advised … Read more