Senators call on Mark Zuckerberg to address crypto scams on Meta’s platforms
Democratic senators from the US Senate have reportedly questioned Meta CEO Mark Zuckerberg about the company’s procedures for dealing with cryptocurrency scams occurring on its various platforms. Senators Robert Menendez, Sherrod Brown, Elizabeth Warren, Dianne Feinstein, Bernie Sanders, and Cory Booker reportedly made a call to Facebook CEO Mark Zuckerberg on Friday to ask him […]
FBI issues alert as ‘Pig Butchering’ crypto scam gains momentum
The Pig Butchering scam relies on a fraudster gaining confidence with their victim sometimes over a long time span of weeks or months.” According to recent media reports, U.S. officials have issued warnings about the pig butchering scam’s expanding notoriety, including the Federal Bureau of Investigation (FBI) and Lakewood Police, where incidents have been reported. […]
Crypto frauds drops by 65% as newbies leave market: Chainalysis
According to a new crypto crime study, fewer people have been scammed by bitcoin so far in 2022 as a result of dropping asset values and novice cryptocurrency users leaving the industry. The total revenue generated by crypto scams year to date is currently estimated to be $1.6 billion, according to a Chainalysis report published […]
Crypto Scam: Kenyans Lose Millions Of Dollars To Ponzi Scheme, Bitstream Circle
More than $10 million in investor monies were allegedly taken by the brains behind the suspected cryptocurrency Ponzi scheme known as Bitstream Circle. On March 13, 2022, some of the scheme’s investors began experiencing withdrawal issues, which is when the alleged theft was discovered. Withdrawals Blocked Investors in an alleged crypto Ponzi scheme, Bitstream Circle, […]
AriseCoin inventor goes to prison for involvement in crypto scam
AriseCoin inventor, Jared Rice, Sr., has been sentenced to five years in federal prison by Texas authorities. Aside from the jail time, he would have to repay $4.2M to investors who were defrauded through his crypto scheme. According to a news release issued by the US Department of Justice, Jared Rice, Sr. will be imprisoned […]