Venezuelan fakes his abduction and allegedly steals $1m in BTC from clients
Venezuelan police are looking for a 23-year-old scammer who allegedly stole $1.15 million in Bitcoin (BTC) from his clients’ accounts after faking his own kidnapping. Douglas Rico, the director of Venezuela’s Scientific, Criminal, and Criminal Investigations Corps (CICPC), made a statement on August 29th claiming that Andrés Jess Dos Santos Hernández, 23, was wanted by […]
Scamwatch data report shows Australians lost over $70 million to crypto scams
According to Scamwatch data, investment scams in Australia cost investors more than 70 million Australian dollars ($50.5 million) in the first six months of 2021, with crypto scams accounting for more than half of the losses. According to the Australian Competition and Consumer Commission (ACCC) , Scamwatch data shows a 53.4 percent increase in investment […]
Alleged masterminds behind $55M ‘AI-led‘ crypto scam arrested by the police
The Japanese police have arrested Four men in Aichi Prefecture for allegedly running a fraudulent crypto scheme that drew in thousands of Japanese investors and also scammed them in the end. Four individuals have reportedly been arrested in Japan’s Aichi Prefecture for allegedly conducting a fraudulent crypto investment scheme that promised investors profits based on […]
Bithumb’s top executives have been charged with fraud in Hong Kong
Top executives and even the exchange owner of Bithumb Hong Kong were indicted with fraud charges. The lawsuit will be filed by Bithumb’s former Thai partner for breach of contract. Bithumb’s Hong Kong subsidiaries are being sued for breach of contract, and top officials, including the exchange’s owner, have been charged with fraud. Criminal charges […]
‘Soft rugs’ (‘Rug Pull’)— An increasing threat to DeFi.
One of the latest trends in the DeFi ecosystem is developers dumping their token and running off with the proceeds generated. A number of projects under the DeFi project have been rug pulled. For some time, the DeFi ecosystem has been plagued by a variety of well-known scams and frauds, with some other emerging in […]