{"id":95474,"date":"2024-09-30T18:04:46","date_gmt":"2024-09-30T22:04:46","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=95474"},"modified":"2024-09-30T18:06:04","modified_gmt":"2024-09-30T22:06:04","slug":"fake-bybit-demo-account-scam-hits-250-uk-victim","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/fake-bybit-demo-account-scam-hits-250-uk-victim\/","title":{"rendered":"Fake Bybit Demo Account Scam Hits 250 UK Victims"},"content":{"rendered":"\n

UK victims lose $650K to fake Bybit demo accounts in ‘Ape 31' crypto hack, with blockchain specialist ZachXBT investigating.<\/p>\n\n\n\n

\"Fake<\/figure>\n\n\n\n

In recent months, the UK has experienced a significant crypto hack affecting over 250 individuals, with hackers stealing approximately $650,000. <\/p>\n\n\n\n

The scheme involved fake Bybit demo accounts designed to lure unsuspecting victims with promises of easy profits. <\/p>\n\n\n\n

The perpetrator, dubbed “Ape 31,” is continually changing the deposit addresses, complicating efforts to track the stolen funds.<\/p>\n\n\n\n

250 UK Victims Fall for Fake Bybit Demo Account<\/strong><\/h2>\n\n\n\n

Blockchain expert ZachXBT has revealed details \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>about the crypto hack by examining 16 exchange deposit addresses associated with the scam. <\/p>\n\n\n\n

Over a year, these addresses received funds from over 250 victims, amassing about $650,000. <\/p>\n\n\n\n

The victims were misled into believing they were trading through legitimate Bybit demo accounts, when in reality, it was a fraudulent scheme.<\/p>\n\n\n\n

Another complicating factor in this crypto hack is Ape 31's frequent alterations of the deposit addresses, making it challenging to assess the full extent of the operation. <\/p>\n\n\n\n

ZachXBT suggests that the total amount stolen could be significantly higher, as the scammer has been taking measures to evade detection. <\/p>\n\n\n\n

He has reported his findings to the police to help track Ape 31's activities and prevent further damage.<\/p>\n\n\n\n

\n

1\/ The UK scammer @ape_31<\/use><\/svg><\/span><\/a> @60711<\/use><\/svg><\/span><\/a> has stolen more than $650K from 250+ X users in the past year by posting fake PNL screenshots from a Bybit demo account and running a news account to funnel unsuspecting victims into paid services before blocking them upon receiving payment. pic.twitter.com\/rWTRPbTiym<\/use><\/svg><\/span><\/a><\/p>— ZachXBT (@zachxbt) September 30, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

In addition to the fake Bybit demo account scheme, Ape 31 attempted to conduct fraudulent over-the-counter (OTC) crypto trades. <\/p>\n\n\n\n

The scammer lured a potential victim into a video call under the pretense of finalizing a legitimate business deal. <\/p>\n\n\n\n

However, the call was recorded, and a clip was released to the public, leading other victims to identify the voice. <\/p>\n\n\n\n

According to the blockchain expert, this recording is linked to Ape 31 and various other fraudulent attempts, including the initial hack.<\/p>\n\n\n\n

Wider Crypto Hack Trends: BingX and Banana Gun Incidents<\/strong><\/h2>\n\n\n\n

The Bybit demo account scam highlighted by the blockchain expert is part of a broader increase in crypto hacks within the industry. <\/p>\n\n\n\n

Recently, the BingX exchange suffered a significant breach<\/a>, resulting in over $43 million worth of stolen altcoins. <\/p>\n\n\n\n

The hacker converted the stolen assets into Ethereum (ETH) and Binance Coin (BNB), complicating recovery efforts. <\/p>\n\n\n\n

This breach is considered one of the largest hacks in recent months.<\/p>\n\n\n\n

Similarly, the Banana Gun protocol <\/a>experienced a hack that resulted in the theft of $3 million. <\/p>\n\n\n\n

In a positive development, the Banana Gun team has pledged to refund all 11 affected victims using their treasury funds.<\/p>\n\n\n\n

These incidents highlight the escalating threat of cryptocurrency hacks and scams targeting both centralized and decentralized platforms. <\/p>\n\n\n\n

Data from Immunefi indicates that cryptocurrency-related hacks led to $409 million in losses during the third quarter of 2024 alone.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

UK victims lose $650K to fake Bybit demo accounts in ‘Ape 31′ crypto hack, with blockchain specialist ZachXBT investigating. In recent months, the UK has experienced a significant crypto hack affecting over 250 individuals, with hackers stealing approximately $650,000. The scheme involved fake Bybit demo accounts designed to lure unsuspecting victims with promises of easy […]<\/p>\n","protected":false},"author":56,"featured_media":95478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[662,16148,1507],"class_list":["post-95474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bybit","tag-crypto-hack-2","tag-united-kingdom"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/09\/Fake-Bybit-Demo-Account-Scam-Hits-250-UK-Victims.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/95474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=95474"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/95474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/95478"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=95474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=95474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=95474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}