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🚨How I Almost Fell Victim to a Sophisticated Ledger Recovery Scam – Be Warned! 👀⚠️
This is a real experience that unfolded tonight, and I’m sharing it to help others avoid falling into the same trap.
It started with a random phone call from a woman with a British accent asking if I’d recovered my Ledger. Confused, I said no. She then asked if I was in the Netherlands—again, no. She explained that an investigation had been opened, and I would soon receive further instructions.
Immediately after, I received an email from Ledger, seemingly legit, complete with a case number about Ledger recovery. The email appeared verified, and I was getting pulled in deeper. Not long after, I got another call, this time from a man named Adam, also with a British accent. He told me my device likely had corrupted firmware, and I was particularly vulnerable because I had just completed a firmware update on my Nano X.
Adam proceeded to explain that someone had recovered my private keys and was only missing my PIN to access my funds, which they could crack in 4 to 6 hours. At this point, red flags were going off, but the stress of the situation clouded my judgment, especially with the email that appeared directly from Ledger.
Adam directed me to a supposed diagnostic site to check for firmware corruption without unlocking my device. The result? A red error code. This heightened my anxiety, but things felt off when I ran the diagnostic again with my Nano X powered off—same error. Then I ran it on my Nano S, which isn’t even wireless, and got the same error. Something wasn’t adding up.
Then came the big ask: he wanted me to use the recovery feature and enter my seed phrase to generate new private keys. Alarm bells went off. Everyone knows to never enter seed words on a computer. He dangled the promise of $50,000 in insurance coverage if I followed "procedure" but hinted I could lose everything if I didn’t act fast.
Sensing the manipulation, I stalled and told him to call back in 30 minutes. Meanwhile, I hopped onto another computer, ran the diagnostics again on the wrong device, and still got the same error code—convinced now this was a scam. I initiated a chat with Ledger’s bot and, sure enough, received an email with a case number almost identical to the one the scammers had sent.
When Adam called back, I casually mentioned that I had opened another case with Ledger to confirm the diagnostic link. Click—he hung up immediately. That’s when I knew it was all a con.
These scammers were clever, using the Ledger chatbot to send emails that appeared legitimate and manipulating me through fear of losing access to my funds. Ledger never contacts you by phone—this is a big red flag to remember.
Fake Ledger Live Scam – $15K Drained from My Nano S
This isn’t the only scam targeting Ledger users. Earlier this year, I became the victim of a phishing attack, where hackers drained $15,000 worth of crypto from my Nano S after corrupting my PC. They deployed a fake version of Ledger Live that prompted me to share sensitive information.
Funds stolen:
0.17804 BTC (Bitcoin) – $7,835.66
10,699.6 ADA (Cardano) – $5,499.18
0.711888 ETH (Ethereum) – $1,592.85
4.0139 LTC (Litecoin) – $261.32
I know I made a critical error by entering my seed phrase, but the sophistication of these scams can fool even cautious users. If you’ve fallen victim, file a police report and share your information—maybe it can help bring these criminals down.
#cryptoscam #MemeCoinTrending #CanaryLitecoinETF
It started with a random phone call from a woman with a British accent asking if I’d recovered my Ledger. Confused, I said no. She then asked if I was in the Netherlands—again, no. She explained that an investigation had been opened, and I would soon receive further instructions.
Immediately after, I received an email from Ledger, seemingly legit, complete with a case number about Ledger recovery. The email appeared verified, and I was getting pulled in deeper. Not long after, I got another call, this time from a man named Adam, also with a British accent. He told me my device likely had corrupted firmware, and I was particularly vulnerable because I had just completed a firmware update on my Nano X.
Adam proceeded to explain that someone had recovered my private keys and was only missing my PIN to access my funds, which they could crack in 4 to 6 hours. At this point, red flags were going off, but the stress of the situation clouded my judgment, especially with the email that appeared directly from Ledger.
Adam directed me to a supposed diagnostic site to check for firmware corruption without unlocking my device. The result? A red error code. This heightened my anxiety, but things felt off when I ran the diagnostic again with my Nano X powered off—same error. Then I ran it on my Nano S, which isn’t even wireless, and got the same error. Something wasn’t adding up.
Then came the big ask: he wanted me to use the recovery feature and enter my seed phrase to generate new private keys. Alarm bells went off. Everyone knows to never enter seed words on a computer. He dangled the promise of $50,000 in insurance coverage if I followed "procedure" but hinted I could lose everything if I didn’t act fast.
Sensing the manipulation, I stalled and told him to call back in 30 minutes. Meanwhile, I hopped onto another computer, ran the diagnostics again on the wrong device, and still got the same error code—convinced now this was a scam. I initiated a chat with Ledger’s bot and, sure enough, received an email with a case number almost identical to the one the scammers had sent.
When Adam called back, I casually mentioned that I had opened another case with Ledger to confirm the diagnostic link. Click—he hung up immediately. That’s when I knew it was all a con.
These scammers were clever, using the Ledger chatbot to send emails that appeared legitimate and manipulating me through fear of losing access to my funds. Ledger never contacts you by phone—this is a big red flag to remember.
Fake Ledger Live Scam – $15K Drained from My Nano S
This isn’t the only scam targeting Ledger users. Earlier this year, I became the victim of a phishing attack, where hackers drained $15,000 worth of crypto from my Nano S after corrupting my PC. They deployed a fake version of Ledger Live that prompted me to share sensitive information.
Funds stolen:
0.17804 BTC (Bitcoin) – $7,835.66
10,699.6 ADA (Cardano) – $5,499.18
0.711888 ETH (Ethereum) – $1,592.85
4.0139 LTC (Litecoin) – $261.32
I know I made a critical error by entering my seed phrase, but the sophistication of these scams can fool even cautious users. If you’ve fallen victim, file a police report and share your information—maybe it can help bring these criminals down.
#cryptoscam #MemeCoinTrending #CanaryLitecoinETF
How To avoid Airdrop scames
Read This Carefully and Don't invest in Airdrops To avoid scammers Read This Points Carefully Hope you All understand
1. **Research the Project**: Before participating in any airdrop, thoroughly research the project behind it. Check their website, whitepaper, team members, and community engagement to verify its legitimacy.
2. **Verify Official Channels**: Only trust information from official channels such as the project's website, social media accounts, or reputable cryptocurrency news sources. Beware of phishing attempts through fake websites or social media profiles.
3. **Never Share Private Keys**: Legitimate airdrops do not require you to share your private keys or sensitive information. Avoid any airdrop that asks for such details, as they could be phishing attempts to steal your funds.
4. **Exercise Caution with Links**: Be cautious of clicking on links in airdrop announcements or emails. Verify the URLs carefully to ensure they lead to legitimate websites. Scammers often use fake websites to collect personal information or distribute malware.
5. **Use Trusted Platforms**: Stick to reputable cryptocurrency platforms and communities when participating in airdrops. Platforms with robust security measures and a history of hosting legitimate projects are less likely to be associated with scams.
By following these precautions, you can reduce the risk of falling victim to cryptocurrency airdrop scams and safeguard your assets.
$BTC $ETH $BNB #AvalonAirdrop #AvoidScamAirdrop #cryptoscam #CryptoTradingPrediction #binancetrading
Read This Carefully and Don't invest in Airdrops To avoid scammers Read This Points Carefully Hope you All understand
1. **Research the Project**: Before participating in any airdrop, thoroughly research the project behind it. Check their website, whitepaper, team members, and community engagement to verify its legitimacy.
2. **Verify Official Channels**: Only trust information from official channels such as the project's website, social media accounts, or reputable cryptocurrency news sources. Beware of phishing attempts through fake websites or social media profiles.
3. **Never Share Private Keys**: Legitimate airdrops do not require you to share your private keys or sensitive information. Avoid any airdrop that asks for such details, as they could be phishing attempts to steal your funds.
4. **Exercise Caution with Links**: Be cautious of clicking on links in airdrop announcements or emails. Verify the URLs carefully to ensure they lead to legitimate websites. Scammers often use fake websites to collect personal information or distribute malware.
5. **Use Trusted Platforms**: Stick to reputable cryptocurrency platforms and communities when participating in airdrops. Platforms with robust security measures and a history of hosting legitimate projects are less likely to be associated with scams.
By following these precautions, you can reduce the risk of falling victim to cryptocurrency airdrop scams and safeguard your assets.
$BTC $ETH $BNB #AvalonAirdrop #AvoidScamAirdrop #cryptoscam #CryptoTradingPrediction #binancetrading
Tech company CEO arrested in $366 million Crypto scam
#crypto #cryptoscam #writtoearn #BinanceSquareFamily
A South Korean CEO has reportedly been arrested for allegedly orchestrating a massive Ponzi scheme that defrauded investors of an estimated $366 million. According to a report in Crypto news, Byun Young-oh, the head of Wakon, a cryptocurrency platform, is accused of running the scheme alongside an accomplice named Yeom.
Wakon, with approximately 12,000 members, offered virtual currency staking products without the required financial registration with authourities. The company, which operated has across South Korea, targeted elderly citizens. The company promised senior citizens exorbitant returns of up to 45% to 50% on Ethereum deposits. Wakon has branches throughout South Korea.
The scheme unraveled in mid-2023 when investors were unable to withdraw their funds. Despite assurances from Byun, the company's collapse became evident by November when its Seoul office was shuttered.
Prosecutors have charged Byun and Yeom with fraud and are investigating the extent of the scheme. While Byun has denied any wrongdoing, claiming ignorance of Ponzi schemes, authorities are working to identify additional victims and potential accomplices.
In a similar incident, the US Securities and Exchange Commission charged an crypto trading company with defrauding 200,000 investors worldwide. Continuing its crypto fraud crackdown, the SEC has charged NovaTech, NovaTech, its executives, and affiliated promoters over a multi-level marketing fraud scheme that generated $650 million in digital assets.
A South Korean CEO has reportedly been arrested for allegedly orchestrating a massive Ponzi scheme that defrauded investors of an estimated $366 million. According to a report in Crypto news, Byun Young-oh, the head of Wakon, a cryptocurrency platform, is accused of running the scheme alongside an accomplice named Yeom.
Wakon, with approximately 12,000 members, offered virtual currency staking products without the required financial registration with authourities. The company, which operated has across South Korea, targeted elderly citizens. The company promised senior citizens exorbitant returns of up to 45% to 50% on Ethereum deposits. Wakon has branches throughout South Korea.
The scheme unraveled in mid-2023 when investors were unable to withdraw their funds. Despite assurances from Byun, the company's collapse became evident by November when its Seoul office was shuttered.
Prosecutors have charged Byun and Yeom with fraud and are investigating the extent of the scheme. While Byun has denied any wrongdoing, claiming ignorance of Ponzi schemes, authorities are working to identify additional victims and potential accomplices.
In a similar incident, the US Securities and Exchange Commission charged an crypto trading company with defrauding 200,000 investors worldwide. Continuing its crypto fraud crackdown, the SEC has charged NovaTech, NovaTech, its executives, and affiliated promoters over a multi-level marketing fraud scheme that generated $650 million in digital assets.
$Crypto currency fraud: Assets worth Rs 1 crore of accused frozen, transactions done through 2.5 lakh IDs of one lakh people
Police has taken major action in the case of crypto currency fraud in the state. The SIT formed in this case has frozen assets worth Rs 1 crore of the accused, while preparations are underway to freeze assets worth Rs 5 crore.
Police has taken major action in the case of crypto currency fraud in Himachal Pradesh. The SIT formed in this case has frozen assets worth Rs 1 crore of the accused, while preparations are underway to freeze assets worth Rs 5 crore. Himachal Police Director General Sanjay Kundu said that in the crypto currency fraud case, information about transactions from 2.5 lakh IDs of one lakh people has come to light.
He said that the police is taking action seriously in the matter. After the issue of fraud in the name of crypto currency was raised in Himachal Pradesh Assembly, the government has formed SIT to investigate the matter. Its head is DIG Northern Range Abhishek Dullar, who has experience of working in many big investigation agencies. The SIT has so far arrested two accused, while the search for the main accused is still going on.
Arvind Negi has been given the responsibility of DIG NCB. The state government has given the responsibility of DIG Narcotics Control Bureau in the State Intelligence Department (CID) to Superintendent of Police Arvind Digvijay Negi. He was waiting for appointment to the post of Superintendent of Police, NCB, when the government has given him the responsibility of an even higher post. Chief Secretary Prabodh Saxena has issued its notification.
#fraud #cryptoscam #scam #trending #BinanceSquare
Police has taken major action in the case of crypto currency fraud in the state. The SIT formed in this case has frozen assets worth Rs 1 crore of the accused, while preparations are underway to freeze assets worth Rs 5 crore.
Police has taken major action in the case of crypto currency fraud in Himachal Pradesh. The SIT formed in this case has frozen assets worth Rs 1 crore of the accused, while preparations are underway to freeze assets worth Rs 5 crore. Himachal Police Director General Sanjay Kundu said that in the crypto currency fraud case, information about transactions from 2.5 lakh IDs of one lakh people has come to light.
He said that the police is taking action seriously in the matter. After the issue of fraud in the name of crypto currency was raised in Himachal Pradesh Assembly, the government has formed SIT to investigate the matter. Its head is DIG Northern Range Abhishek Dullar, who has experience of working in many big investigation agencies. The SIT has so far arrested two accused, while the search for the main accused is still going on.
Arvind Negi has been given the responsibility of DIG NCB. The state government has given the responsibility of DIG Narcotics Control Bureau in the State Intelligence Department (CID) to Superintendent of Police Arvind Digvijay Negi. He was waiting for appointment to the post of Superintendent of Police, NCB, when the government has given him the responsibility of an even higher post. Chief Secretary Prabodh Saxena has issued its notification.
#fraud #cryptoscam #scam #trending #BinanceSquare
Canadian Citizens In This City Have Lost $22.5 Million to Crypto Scams
FOLLOW US FOR FASTEST UPDATES **
Canadian police have issued a targeted warning to citizens in Calgary, Alberta, to be wary of employment scams, romance scams, and other related to cryptocurrency after victims there lost over $22.5 million so far this year.
Alberta officials revealed on Monday that its residents have run afoul of 340 reported crypto scams since the start of the year. That’s up from 2022, when residents lost a smaller $14 million across 321 reported scams in 12 months.
The police believe even these figures are “vastly underreported,” however.
“While the vast majority of cryptocurrency is legitimate, it is also a deregulated marketplace and has, at times, been used by scammers as a form of payment connected to various frauds,” said Calgary Police on Tuesday.
The cosmopolitan city of Calgary was historically the heart of Canada's oil industry, and was ranked third most livable city this summer in the Economist Intelligence Unit's (EIU) annual ranking of the world's most liveable cities.
The most common forms of scams noted are investment scams—those promising victims more money if they send the scammer some funds first. “Only scammers will demand full payment upfront,” the police noted.
An example would include the infamous Michael Saylor phishing videos, where thieves posing as the Bitcoin billionaire promise to double victims’ Bitcoin holdings if they send their BTC to the scammer’s wallet. In January 2022, a Bitcoin user sent $1.1 million in BTC to one such scam address.
The police also warned against people online promising large returns in the crypto markets, and of users on social media and online dating apps mentioning crypto investments, saying such messages are “likely a scam.”
According to Chainalysis, scams continue to comprise the bulk of the volume transferred in crypto-related crimes, including hacks, darknet markets, and ransomware attacks.
#cryptoscam #scamalert #BinanceSquare #CryptoTalks #canada
FOLLOW US FOR FASTEST UPDATES **
Canadian police have issued a targeted warning to citizens in Calgary, Alberta, to be wary of employment scams, romance scams, and other related to cryptocurrency after victims there lost over $22.5 million so far this year.
Alberta officials revealed on Monday that its residents have run afoul of 340 reported crypto scams since the start of the year. That’s up from 2022, when residents lost a smaller $14 million across 321 reported scams in 12 months.
The police believe even these figures are “vastly underreported,” however.
“While the vast majority of cryptocurrency is legitimate, it is also a deregulated marketplace and has, at times, been used by scammers as a form of payment connected to various frauds,” said Calgary Police on Tuesday.
The cosmopolitan city of Calgary was historically the heart of Canada's oil industry, and was ranked third most livable city this summer in the Economist Intelligence Unit's (EIU) annual ranking of the world's most liveable cities.
The most common forms of scams noted are investment scams—those promising victims more money if they send the scammer some funds first. “Only scammers will demand full payment upfront,” the police noted.
An example would include the infamous Michael Saylor phishing videos, where thieves posing as the Bitcoin billionaire promise to double victims’ Bitcoin holdings if they send their BTC to the scammer’s wallet. In January 2022, a Bitcoin user sent $1.1 million in BTC to one such scam address.
The police also warned against people online promising large returns in the crypto markets, and of users on social media and online dating apps mentioning crypto investments, saying such messages are “likely a scam.”
According to Chainalysis, scams continue to comprise the bulk of the volume transferred in crypto-related crimes, including hacks, darknet markets, and ransomware attacks.
#cryptoscam #scamalert #BinanceSquare #CryptoTalks #canada
Positive signals in the fight against Web3 crime! According to Immunefi, losses from hacks and scams decreased by 23% in Q1 2024 ($336 million) compared to the same period in 2023.
This is encouraging, but we need continued focus on robust security practices.
#web3security #blockchain #cybersecurity #cryptoscam
This is encouraging, but we need continued focus on robust security practices.
#web3security #blockchain #cybersecurity #cryptoscam
🔔 P2P Scam Alert - Beware of Impostor Binance Support! 🔔
Hey Binancians! 👋
Heads up for a sneaky scam targeting our community! Scammers are masquerading as Binance Support, and we're here to spill the tea:
1. 🎭 Scammers pose as Binance Support in P2P order chats or slide into sellers' DMs, claiming they're Binance Support. They trick sellers into thinking payments are on hold until they release the crypto. Spoiler: It's a SCAM!
2. 🚫 Binance Support NEVER slides into your P2P order chats – it's strictly for buyer-seller convos!
3. 💸 P2P payments happen off-platform, so Binance doesn't monitor buyer payments. Always double-check you've got the cash before releasing your crypto.
4. 🙅♀️ Don't trust SMS/email payment alerts blindly; verify the sender thoroughly. Scammers love to fake 'em!
5. ⛔ Be extra wary of off-platform chats; they're a ploy to dodge our radar and dupe you. Stick to the P2P order chatbox!
6. 📞 Binance Support NEVER contacts users via calls or messaging apps, nor asks for crypto transfers. Here's our one-stop support channel.
Safety is key! Educate yourself on scam tactics: Spotting and Avoiding P2P Scams.
Binance is your shield! 💪🛡️ Let's unite to crush scams and keep the crypto realm safe.
Stay tuned for more wisdom! ✉️🔍
Happy, safe trading! 👍💼
With love,
The Binance Team 💖
Don’t post against @Binance Risk Sniper 🙏🏻
#ScamRiskWarning #bitcoinhalving #BullorBear #cryptoscam
Hey Binancians! 👋
Heads up for a sneaky scam targeting our community! Scammers are masquerading as Binance Support, and we're here to spill the tea:
1. 🎭 Scammers pose as Binance Support in P2P order chats or slide into sellers' DMs, claiming they're Binance Support. They trick sellers into thinking payments are on hold until they release the crypto. Spoiler: It's a SCAM!
2. 🚫 Binance Support NEVER slides into your P2P order chats – it's strictly for buyer-seller convos!
3. 💸 P2P payments happen off-platform, so Binance doesn't monitor buyer payments. Always double-check you've got the cash before releasing your crypto.
4. 🙅♀️ Don't trust SMS/email payment alerts blindly; verify the sender thoroughly. Scammers love to fake 'em!
5. ⛔ Be extra wary of off-platform chats; they're a ploy to dodge our radar and dupe you. Stick to the P2P order chatbox!
6. 📞 Binance Support NEVER contacts users via calls or messaging apps, nor asks for crypto transfers. Here's our one-stop support channel.
Safety is key! Educate yourself on scam tactics: Spotting and Avoiding P2P Scams.
Binance is your shield! 💪🛡️ Let's unite to crush scams and keep the crypto realm safe.
Stay tuned for more wisdom! ✉️🔍
Happy, safe trading! 👍💼
With love,
The Binance Team 💖
Don’t post against @Binance Risk Sniper 🙏🏻
#ScamRiskWarning #bitcoinhalving #BullorBear #cryptoscam
‼️Shocking News 😱😱 BEWARE Of Scammers‼️
Mumbai Gynaecologist Loses Rs 1.1 Crore In Online Crypto Trading Scam, Goes To Cops After 1 Year 😱😱
A 46-year-old doctor ended up losing Rs 1.1 crore after meeting a woman online, investing in cryptocurrency and trading on her guidance. In his complaint to the central cybercrime police station of the crime branch recently, he added that Rs 28 lakh of the lost money was a loan from a friend.
The travail of the senior gynaecologist from central Mumbai began on August 13 last year when he received a message on Facebook messenger about crypto trading from one Melissa Campbell. The doctor had heard about crypto and was curious. They started chatting and Campbell claimed she was an expert in crypto trading. She assured him of a good profit, suggested creating a trading account and shared a WhatsApp number. He submitted his details like mobile number, mail address and driving licence, said the police.
On Campbell's instruction, the doctor transferred the cryptocurrencies to another wallet address for more profit/trading. When he realised he had made a profit, he asked to redeem it. He was told he needed to pay taxes and commission.
The doctor took over Rs 28 lakh as a loan from a friend, said the police. He faced one demand or the other till he realised he wasn't getting his money back. The fraud continued till October 14. Angry he told Campbell he would file a complaint.
Finally, after almost a year, the doctor approached the police recently and lodged an FIR for cheating under IPC and punishment for cheating by personation by using computer resource under the IT Act.
Investigation is on under the supervision of Lakhmi Gautam, joint commissioner of crime branch, senior inspector Rajesh Nagwade and inspector Santosh Khadke. The police said the complainant had sent cryptocurrencies 32 times to the wallet address provided by Campbell. The police are collecting information about the wallet involved in the crime.
$BTC #CryptoNews #CryptoTalks #BinanceSquare #fraud #cryptoscam
Mumbai Gynaecologist Loses Rs 1.1 Crore In Online Crypto Trading Scam, Goes To Cops After 1 Year 😱😱
A 46-year-old doctor ended up losing Rs 1.1 crore after meeting a woman online, investing in cryptocurrency and trading on her guidance. In his complaint to the central cybercrime police station of the crime branch recently, he added that Rs 28 lakh of the lost money was a loan from a friend.
The travail of the senior gynaecologist from central Mumbai began on August 13 last year when he received a message on Facebook messenger about crypto trading from one Melissa Campbell. The doctor had heard about crypto and was curious. They started chatting and Campbell claimed she was an expert in crypto trading. She assured him of a good profit, suggested creating a trading account and shared a WhatsApp number. He submitted his details like mobile number, mail address and driving licence, said the police.
On Campbell's instruction, the doctor transferred the cryptocurrencies to another wallet address for more profit/trading. When he realised he had made a profit, he asked to redeem it. He was told he needed to pay taxes and commission.
The doctor took over Rs 28 lakh as a loan from a friend, said the police. He faced one demand or the other till he realised he wasn't getting his money back. The fraud continued till October 14. Angry he told Campbell he would file a complaint.
Finally, after almost a year, the doctor approached the police recently and lodged an FIR for cheating under IPC and punishment for cheating by personation by using computer resource under the IT Act.
Investigation is on under the supervision of Lakhmi Gautam, joint commissioner of crime branch, senior inspector Rajesh Nagwade and inspector Santosh Khadke. The police said the complainant had sent cryptocurrencies 32 times to the wallet address provided by Campbell. The police are collecting information about the wallet involved in the crime.
$BTC #CryptoNews #CryptoTalks #BinanceSquare #fraud #cryptoscam
Crypto Money Laundering Scheme Worth $50M Seized by Australian Police
The Australian Federal Police (AFP) recently made headlines with a significant achievement in the battle against money laundering. In a meticulously executed operation known as Ironside, the AFP unveiled the intricate web of illicit financial activities conducted by Changjiang Currency Exchange, a business operating from multiple locations across Sydney and Melbourne.This operation, which culminated after a thorough three-year investigation, brought to light the sinister use of sophisticated techniques by the exchange to obscure the origin and destination of funds. These funds were subsequently traced to various criminal activities, including drug trafficking, tax evasion, fraud, and, of course, money laundering.Changjiang Currency Exchange, it appears, was no isolated entity. It was part of a far-reaching transnational criminal network that relied heavily on encrypted communication platforms and cryptocurrencies to facilitate the movement of tainted funds across international borders. To dismantle this nefarious network, the AFP joined forces with the Australian Taxation Office, AUSTRAC, the Australian Criminal Intelligence Commission, and various international law enforcement agencies.In a sweeping action, the police executed 20 search warrants across Australia, leading to the arrest of seven individuals involved in these illicit activities. These arrests encompassed a range of offenses, from dealing with the proceeds of crime to money laundering and participation in a criminal group.As a remarkable outcome of this operation, the AFP seized over $50 million in cash, along with luxury cars, jewelry, electronic devices, and crucial documents that provided further insights into the illicit financial dealings. This operation now stands as one of Australia's most intricate and substantial money laundering investigations.This significant achievement by the Australian Federal Police serves as a powerful reminder of the ongoing efforts to combat financial crimes and the importance of international cooperation in upholding the rule of law. It reinforces the message that illicit financial activities will not go unpunished and that law enforcement agencies worldwide are dedicated to protecting the integrity of our financial systems.#cryptoscam
$73M Crypto Scam: Feds Charge Chinese Nationals
In a major crackdown, the Feds have charged Chinese nationals involved in a $73 million crypto scam. This massive fraud scheme involved tricking victims into investing in fake cryptocurrency platforms. The suspects created sophisticated websites and used social engineering to steal funds from unsuspecting investors. Authorities emphasize the importance of vigilance in the crypto market, urging users to verify platforms and avoid too-good-to-be-true offers. Read more to understand how this scam unfolded and its implications for the crypto community.
#trendingtopic #cryptoscam #scam
In a major crackdown, the Feds have charged Chinese nationals involved in a $73 million crypto scam. This massive fraud scheme involved tricking victims into investing in fake cryptocurrency platforms. The suspects created sophisticated websites and used social engineering to steal funds from unsuspecting investors. Authorities emphasize the importance of vigilance in the crypto market, urging users to verify platforms and avoid too-good-to-be-true offers. Read more to understand how this scam unfolded and its implications for the crypto community.
#trendingtopic #cryptoscam #scam
Crypto ICO Scams: How to DYOR Before It's Too Late
Initial Coin Offerings (ICOs) have become an increasingly popular way for companies to raise funds by offering investors a new cryptocurrency. ICOs are typically unregulated and are often used by scammers to defraud unsuspecting investors. In this article, we will discuss the various types of ICO scams and how to DYOR to identify them.
1. What is an ICO?
An ICO is a fundraising method in which a company creates a new cryptocurrency and offers it for sale to investors in exchange for established cryptocurrencies such as Bitcoin or Ethereum. ICOs are similar to Initial Public Offerings (IPOs), but with cryptocurrencies instead of shares.
2. Types of ICO scams
2.1 Exit Scam
Exit scam is a type of fraud where the creators of the ICO disappear after raising funds from investors, leaving investors with worthless tokens. The creators of the ICO may take the funds and never deliver the product or service promised. In some cases, they may even delete their website and social media accounts to avoid detection.
2.2 Pump and Dump Scam
In a pump and dump scam, scammers buy large quantities of a new cryptocurrency and then promote it heavily on social media and other channels to inflate its price. Once the price has risen, they sell their tokens, leaving other investors with worthless tokens.
2.3 Phishing Scam
In a phishing scam, scammers create fake ICO websites that look similar to legitimate ones. They use these sites to collect investor information, including email addresses and cryptocurrency wallet addresses, which they use to steal funds from investors.
2.4 Fake Team Scam
In a fake team scam, scammers create fake profiles of team members with impressive credentials to make the ICO appear more legitimate. However, when investors try to contact these team members, they find that they do not exist.
3. How to identify an ICO scam
3.1 Lack of transparency
If the ICO lacks transparency or fails to provide clear information about its team, product, or business model, it may be a scam.
3.2 Unrealistic promises
If an ICO promises unrealistic returns or claims to have no risks, it is likely a scam. Don't fall in Ludacris claims.
3.3 No clear roadmap
If an ICO does not have a clear roadmap or timeline for the development of its product or service, it may be a scam.
3.4 No code available
If an ICO does not provide access to its code or whitepaper, it may be a scam.
3.5 No clear use case
If an ICO does not have a clear use case for its token, it may be a scam. Usually these kind of project claim revolutionary change but in ground level they are zero.
Initial coins offerings are always a luring aspect for retail investors. The way a project market their ICO is somewhere people got hooked. There's no doubt 100s of good project our there with legit ICO and proper roadmap. But the number is tiny.
The anonymous nature of crypto sometimes boost these types of scam. So next time before investing a lucrative ICO make sure the project tick boxes all those area. If not it's a area of concern and you should do more research before putting penny on that.
Thank you guys reading my article. This article is a part of #feedfeverchallenge so support me by like & sharing this article and comment your opinions about this. If you want help in trading check out our trading posts.
For more follow this page or check our profile for more information. Till then #Trade_safe Friends.
#dyor #ICO #cryptoscam
4. Citations:
"What is an Initial Coin Offering (ICO)?" Investopedia, 2022, https://www.investopedia.com/terms/i/initial-coin-offering-ico.asp
"ICO Scams: How to Identify and Avoid Them," Forbes, 2021, https://www.forbes.com/advisor/investing/ico-scams/ "10 Warning Signs of ICO Scams," CryptoSlate, 2019, https://cryptoslate.com/10-warning-signs-of-ico-scams/
1. What is an ICO?
An ICO is a fundraising method in which a company creates a new cryptocurrency and offers it for sale to investors in exchange for established cryptocurrencies such as Bitcoin or Ethereum. ICOs are similar to Initial Public Offerings (IPOs), but with cryptocurrencies instead of shares.
2. Types of ICO scams
2.1 Exit Scam
Exit scam is a type of fraud where the creators of the ICO disappear after raising funds from investors, leaving investors with worthless tokens. The creators of the ICO may take the funds and never deliver the product or service promised. In some cases, they may even delete their website and social media accounts to avoid detection.
2.2 Pump and Dump Scam
In a pump and dump scam, scammers buy large quantities of a new cryptocurrency and then promote it heavily on social media and other channels to inflate its price. Once the price has risen, they sell their tokens, leaving other investors with worthless tokens.
2.3 Phishing Scam
In a phishing scam, scammers create fake ICO websites that look similar to legitimate ones. They use these sites to collect investor information, including email addresses and cryptocurrency wallet addresses, which they use to steal funds from investors.
2.4 Fake Team Scam
In a fake team scam, scammers create fake profiles of team members with impressive credentials to make the ICO appear more legitimate. However, when investors try to contact these team members, they find that they do not exist.
3. How to identify an ICO scam
3.1 Lack of transparency
If the ICO lacks transparency or fails to provide clear information about its team, product, or business model, it may be a scam.
3.2 Unrealistic promises
If an ICO promises unrealistic returns or claims to have no risks, it is likely a scam. Don't fall in Ludacris claims.
3.3 No clear roadmap
If an ICO does not have a clear roadmap or timeline for the development of its product or service, it may be a scam.
3.4 No code available
If an ICO does not provide access to its code or whitepaper, it may be a scam.
3.5 No clear use case
If an ICO does not have a clear use case for its token, it may be a scam. Usually these kind of project claim revolutionary change but in ground level they are zero.
Initial coins offerings are always a luring aspect for retail investors. The way a project market their ICO is somewhere people got hooked. There's no doubt 100s of good project our there with legit ICO and proper roadmap. But the number is tiny.
The anonymous nature of crypto sometimes boost these types of scam. So next time before investing a lucrative ICO make sure the project tick boxes all those area. If not it's a area of concern and you should do more research before putting penny on that.
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#dyor #ICO #cryptoscam
4. Citations:
"What is an Initial Coin Offering (ICO)?" Investopedia, 2022, https://www.investopedia.com/terms/i/initial-coin-offering-ico.asp
"ICO Scams: How to Identify and Avoid Them," Forbes, 2021, https://www.forbes.com/advisor/investing/ico-scams/ "10 Warning Signs of ICO Scams," CryptoSlate, 2019, https://cryptoslate.com/10-warning-signs-of-ico-scams/
crypto scam⚠️ trading scam🚨
Crypto scam. no war only liquidit long. crypto not business all market handle the whiles up and down #cryptoscam
$BTC $ETH $BNB
Crypto scam. no war only liquidit long. crypto not business all market handle the whiles up and down #cryptoscam
$BTC $ETH $BNB
🚨 Project Airdrop according to Size
● $DOGS 🐶 - Big profit
● $CATI 🐈 - Average profit
● $HMSTR 🐹 - Small profit
Airdrop profit defined by size of animal in project 😂😂😂
#cryptoscam #scamsterkombat #hamsterkombat
● $DOGS 🐶 - Big profit
● $CATI 🐈 - Average profit
● $HMSTR 🐹 - Small profit
Airdrop profit defined by size of animal in project 😂😂😂
#cryptoscam #scamsterkombat #hamsterkombat
🚨 MAKERDAO DELEGATE LOSES $11M IN PHISHING SCAM 🚨
💥 Massive Loss: A MakerDAO governance delegate has fallen victim to a phishing scam, resulting in the theft of $11 million worth of Aave Ethereum Maker (aEthMKR) and Pendle USDe tokens. The incident occurred due to the delegate signing multiple phishing signatures.
🕵 Scam Detection: The scam was identified by Scam Sniffer in the early hours of June 23. The delegate, a key player in the MakerDAO ecosystem, was exploited after unknowingly authorizing malicious transactions, which led to the loss of their digital assets.
📉 Transfer Details: The sender address “0xfb94d3404c1d3d9d6f08f79e58041d5ea95accfa” moved 3,657 aEthMKR tokens to the recipient address “0x739772254924a57428272f429bd55f30eb36bb96,” with the transaction confirmed in just 11 seconds.
🔍 Critical Role: The victim was identified by Arkham as a MakerDAO governance delegate. Delegates play a vital role in MakerDAO's decision-making processes, voting on governance proposals, polls, and executive votes, which influence significant decisions within the Maker protocol.
🗳 Governance Process: In MakerDAO, tokenholders and delegates vote to decide on proposals that progress from initial polls to final executive votes. Once approved, proposals are implemented after a waiting period known as the Governance Security Module (GSM), ensuring security against sudden changes.
⚠ Rising Phishing Scams: Phishing scams are becoming increasingly common in the crypto space. These scams involve tricking victims into signing transactions that grant scammers access to their wallets, allowing them to drain funds.
📊 Alarming Statistics: According to a Scam Sniffer report from early 2024, phishing scams drained $300 million from 320,000 users in 2023 alone.
Stay safe with @Professor Mende - Bonuz Ecosystem Founder and follow for more updates!
#makerdao #PhishingScams #scamalert #cryptoscam #warning
$BTC $ETH $BNB
💥 Massive Loss: A MakerDAO governance delegate has fallen victim to a phishing scam, resulting in the theft of $11 million worth of Aave Ethereum Maker (aEthMKR) and Pendle USDe tokens. The incident occurred due to the delegate signing multiple phishing signatures.
🕵 Scam Detection: The scam was identified by Scam Sniffer in the early hours of June 23. The delegate, a key player in the MakerDAO ecosystem, was exploited after unknowingly authorizing malicious transactions, which led to the loss of their digital assets.
📉 Transfer Details: The sender address “0xfb94d3404c1d3d9d6f08f79e58041d5ea95accfa” moved 3,657 aEthMKR tokens to the recipient address “0x739772254924a57428272f429bd55f30eb36bb96,” with the transaction confirmed in just 11 seconds.
🔍 Critical Role: The victim was identified by Arkham as a MakerDAO governance delegate. Delegates play a vital role in MakerDAO's decision-making processes, voting on governance proposals, polls, and executive votes, which influence significant decisions within the Maker protocol.
🗳 Governance Process: In MakerDAO, tokenholders and delegates vote to decide on proposals that progress from initial polls to final executive votes. Once approved, proposals are implemented after a waiting period known as the Governance Security Module (GSM), ensuring security against sudden changes.
⚠ Rising Phishing Scams: Phishing scams are becoming increasingly common in the crypto space. These scams involve tricking victims into signing transactions that grant scammers access to their wallets, allowing them to drain funds.
📊 Alarming Statistics: According to a Scam Sniffer report from early 2024, phishing scams drained $300 million from 320,000 users in 2023 alone.
Stay safe with @Professor Mende - Bonuz Ecosystem Founder and follow for more updates!
#makerdao #PhishingScams #scamalert #cryptoscam #warning
$BTC $ETH $BNB
🚨 30-Year Prison Sentence For Crypto Mixer Founder
Roman Sterlingov, the mastermind behind the cryptocurrency mixer Bitcoin Fog, is fighting back against a hefty 30-year prison sentence after being found guilty on multiple money laundering charges.
Disputed Conviction and Sentence:
Sterlingov was convicted in March on charges that included money laundering, conspiracy, and running an unlicensed money transmitting business. Prosecutors allege he operated Bitcoin Fog from 2011 to 2021, helping to launder around $400 million in Bitcoin tied to illegal activities like drug trafficking and identity theft.
However, Sterlingov’s defense disputes the extent of his involvement, arguing that he wasn’t responsible for Bitcoin Fog's operations despite being linked to it. They also pointed out that key evidence—such as server logs, private keys, and ledgers—was never presented in court.
A Call for Fairness:
Sterlingov’s legal team argues that the proposed 20 to 30-year sentence is unjustified, especially when compared to similar cases that resulted in lighter penalties. They emphasize that the sentence should reflect his actual role, which they suggest was more about aiding and abetting rather than direct operation.
Judge Randolph Moss initially planned to sentence Sterlingov on August 21 but has decided to first consider the government’s forfeiture order, which includes 1,354 BTC still sitting untouched in a Bitcoin Fog wallet since 2012 and a possible $395 million judgment.
What do you think about this sentencing?
Drop your comment below!
#bitcoin #tornadocash #scam #cryptoscam #hacking
$BTC
Roman Sterlingov, the mastermind behind the cryptocurrency mixer Bitcoin Fog, is fighting back against a hefty 30-year prison sentence after being found guilty on multiple money laundering charges.
Disputed Conviction and Sentence:
Sterlingov was convicted in March on charges that included money laundering, conspiracy, and running an unlicensed money transmitting business. Prosecutors allege he operated Bitcoin Fog from 2011 to 2021, helping to launder around $400 million in Bitcoin tied to illegal activities like drug trafficking and identity theft.
However, Sterlingov’s defense disputes the extent of his involvement, arguing that he wasn’t responsible for Bitcoin Fog's operations despite being linked to it. They also pointed out that key evidence—such as server logs, private keys, and ledgers—was never presented in court.
A Call for Fairness:
Sterlingov’s legal team argues that the proposed 20 to 30-year sentence is unjustified, especially when compared to similar cases that resulted in lighter penalties. They emphasize that the sentence should reflect his actual role, which they suggest was more about aiding and abetting rather than direct operation.
Judge Randolph Moss initially planned to sentence Sterlingov on August 21 but has decided to first consider the government’s forfeiture order, which includes 1,354 BTC still sitting untouched in a Bitcoin Fog wallet since 2012 and a possible $395 million judgment.
What do you think about this sentencing?
Drop your comment below!
#bitcoin #tornadocash #scam #cryptoscam #hacking
$BTC
🚨 AFTER LOSING $870,000, MARK CUBAN GOT HACKED AGAIN!!! 🚨
📧 Gmail Hack Incident:
Billionaire investor Mark Cuban revealed that his Gmail account was compromised on June 22 after a hoax call, warning that any emails from his account after 3:30 PM PST are not from him.
📞 Hoax Call Details:
Cuban shared on X that a caller, impersonating a Google employee, tricked him into revealing account information by claiming there was an intruder and spoofing Google’s recovery methods.
🔒 Community Reactions:
The crypto community sent supportive messages, while some speculated about the volume of missed emails. Kraken's CSO, Nick Percoco, joked about the potential flood of unread messages Cuban would face once he regained access.
💬 User Concerns:
Amidst the chaos, some users questioned the security of Cuban’s X account, suggesting that it might also be compromised.
💸 Previous Crypto Wallet Hack:
This incident follows a previous security breach where Cuban’s crypto wallet was drained of $870,000. In September 2023, blockchain sleuth Wazz noticed suspicious activity in Cuban’s wallet, which he hadn't used in months.
⚖️ Advocacy for Crypto Regulation:
Despite these setbacks, Cuban continues to advocate for more favorable crypto regulations in the U.S., pushing for the CFTC to regulate crypto instead of the SEC.
Don't fall for scams, spoofing- and phishing attacks.
Always question suspicious activities and stay alert!
Follow @mende for more content!
#markcuban #scamalert #hack #cryptoscam #warning
$BTC $ETH eth $SOL
📧 Gmail Hack Incident:
Billionaire investor Mark Cuban revealed that his Gmail account was compromised on June 22 after a hoax call, warning that any emails from his account after 3:30 PM PST are not from him.
📞 Hoax Call Details:
Cuban shared on X that a caller, impersonating a Google employee, tricked him into revealing account information by claiming there was an intruder and spoofing Google’s recovery methods.
🔒 Community Reactions:
The crypto community sent supportive messages, while some speculated about the volume of missed emails. Kraken's CSO, Nick Percoco, joked about the potential flood of unread messages Cuban would face once he regained access.
💬 User Concerns:
Amidst the chaos, some users questioned the security of Cuban’s X account, suggesting that it might also be compromised.
💸 Previous Crypto Wallet Hack:
This incident follows a previous security breach where Cuban’s crypto wallet was drained of $870,000. In September 2023, blockchain sleuth Wazz noticed suspicious activity in Cuban’s wallet, which he hadn't used in months.
⚖️ Advocacy for Crypto Regulation:
Despite these setbacks, Cuban continues to advocate for more favorable crypto regulations in the U.S., pushing for the CFTC to regulate crypto instead of the SEC.
Don't fall for scams, spoofing- and phishing attacks.
Always question suspicious activities and stay alert!
Follow @mende for more content!
#markcuban #scamalert #hack #cryptoscam #warning
$BTC $ETH eth $SOL