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Woman Kidnaps Saudi Royal, Steals $40,000 in Bitcoin – Avoids Jail
24-year-old Catherine Colivas and three others kidnapped a member of the Saudi royal family and forced him to transfer $40,000 in Bitcoin. The perpetrators threatened to cut off his fingers if he didn’t pay. Despite pleading guilty to the charges, Colivas avoided jail time and was sentenced to community service.
Plan Began on a Dating App
The court heard that Colivas met the victim through a dating app and later went out for dinner and drinks. After the evening, the royal accompanied her home, where three men, including one of Colivas’ friends, were waiting.
The victim was tied up with cables and threatened with a knife.He was told his fingers would be cut off if he didn’t pay.
Theft of Cryptocurrency and Other Items
Since the victim was a cryptocurrency trader, he offered to transfer $40,000 in Bitcoin. To complete the transaction, he had to call a friend for assistance. The perpetrators also stole:
Keys to his houseDesigner clothingA PlayStation 5 and several iPhones
After the incident, the victim was released and immediately contacted the police. Due to injuries to his head and wrists, he spent the night in a hospital.
Sentence: No Jail Time Due to "Exceptional Circumstances"
Despite the severity of the crime, Colivas was only sentenced to a 30-month community correction order, the Australian equivalent of community service.
The judge justified the decision by citing:
Colivas’ young ageHer troubled upbringingFragile mental healthRehabilitation prospectsThe tragic death of her brother while awaiting trial.
Colivas’ brother, Andrew, died at the age of 25 while on vacation in Southeast Asia.
Another Involved Woman Also Pleads Guilty
22-year-old Paris Kennedy was also involved in the case and pleaded guilty to theft and burglary. After serving 90 days in jail, she was released on good behavior. The judge noted that Kennedy had shown genuine remorse for the victim.
Conclusion
Despite the violent nature of the crime, Catherine Colivas avoided jail time. The decision has sparked questions about the appropriateness of the sentence, especially given the serious nature of the offenses.
#CryptoNewss , #cryptocrime , #Cryptoscam , #BTC☀ , #CryptoSecurity
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Plan Began on a Dating App
The court heard that Colivas met the victim through a dating app and later went out for dinner and drinks. After the evening, the royal accompanied her home, where three men, including one of Colivas’ friends, were waiting.
The victim was tied up with cables and threatened with a knife.He was told his fingers would be cut off if he didn’t pay.
Theft of Cryptocurrency and Other Items
Since the victim was a cryptocurrency trader, he offered to transfer $40,000 in Bitcoin. To complete the transaction, he had to call a friend for assistance. The perpetrators also stole:
Keys to his houseDesigner clothingA PlayStation 5 and several iPhones
After the incident, the victim was released and immediately contacted the police. Due to injuries to his head and wrists, he spent the night in a hospital.
Sentence: No Jail Time Due to "Exceptional Circumstances"
Despite the severity of the crime, Colivas was only sentenced to a 30-month community correction order, the Australian equivalent of community service.
The judge justified the decision by citing:
Colivas’ young ageHer troubled upbringingFragile mental healthRehabilitation prospectsThe tragic death of her brother while awaiting trial.
Colivas’ brother, Andrew, died at the age of 25 while on vacation in Southeast Asia.
Another Involved Woman Also Pleads Guilty
22-year-old Paris Kennedy was also involved in the case and pleaded guilty to theft and burglary. After serving 90 days in jail, she was released on good behavior. The judge noted that Kennedy had shown genuine remorse for the victim.
Conclusion
Despite the violent nature of the crime, Catherine Colivas avoided jail time. The decision has sparked questions about the appropriateness of the sentence, especially given the serious nature of the offenses.
#CryptoNewss , #cryptocrime , #Cryptoscam , #BTC☀ , #CryptoSecurity
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Arizona Man Posed as Uber Driver to Steal $300,000 in Cryptocurrency
Detectives from Scottsdale, in collaboration with U.S. Secret Service agents, arrested a man on December 11 for charges of theft, fraud, and money laundering. The suspect allegedly stole $300,000 worth of cryptocurrency from two unsuspecting passengers.
Fake Uber Driver as a Trap
According to Fox10 Phoenix, Nuruhussein Hussein pretended to be an Uber driver in Scottsdale, Arizona. The thefts reportedly occurred in March and October when Hussein lured victims waiting outside the W Hotel, posing as their ordered Uber ride.
First Incident: Hussein allegedly asked to borrow a passenger's phone, claiming his device was broken.Second Incident: He offered to resolve issues with the Uber app after the victim questioned why the app showed the driver hadn’t arrived yet.
Stealing Cryptocurrency from Coinbase
Hussein reportedly used the opportunity to access the victims' Coinbase accounts while holding their phones. The stolen cryptocurrency was transferred from phone to phone and moved to cold storage (offline wallets).
Court documents do not specify how Hussein knew the names of the passengers waiting for their Uber.
Threatening the Victims
When one victim grew suspicious, Hussein allegedly threatened them, saying: “Calm down, or something bad will happen.”
Arrest and Charges
Hussein was arrested by Scottsdale detectives and U.S. Secret Service agents on December 11. The judge set a $200,000 cash bond and ordered electronic monitoring if Hussein were to secure his release.
The court imposed restrictions, including:
No internet usage,No international travel, due to concerns that Hussein might destroy evidence or flee to Ethiopia, where he allegedly travels frequently.
Hussein is scheduled to appear in court again on December 18.
Rising Cases of Cryptocurrency Robberies
According to GitHub, there have been at least 19 cases of offline crypto thefts worldwide in the past year. This compares to 17 cases in 2023 and 32 in 2021.
One of the most notable incidents occurred in 2014, when an unknown attacker attempted to extort 1,000 bitcoins from computer scientist and cryptographer Hal Finney. At the time, the stolen amount was valued at $400,000.
Recent Case in Australia
In the latest recorded incident on December 3, thieves in Melbourne, Australia, crashed through a shopping center window and stole a Bitcoin ATM. Police later found the ATM pried open and burning in a park.
#cryptofraud , #cryptocrime , #CryptoNewss , #cybersecurity , #Cryptoscam
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Fake Uber Driver as a Trap
According to Fox10 Phoenix, Nuruhussein Hussein pretended to be an Uber driver in Scottsdale, Arizona. The thefts reportedly occurred in March and October when Hussein lured victims waiting outside the W Hotel, posing as their ordered Uber ride.
First Incident: Hussein allegedly asked to borrow a passenger's phone, claiming his device was broken.Second Incident: He offered to resolve issues with the Uber app after the victim questioned why the app showed the driver hadn’t arrived yet.
Stealing Cryptocurrency from Coinbase
Hussein reportedly used the opportunity to access the victims' Coinbase accounts while holding their phones. The stolen cryptocurrency was transferred from phone to phone and moved to cold storage (offline wallets).
Court documents do not specify how Hussein knew the names of the passengers waiting for their Uber.
Threatening the Victims
When one victim grew suspicious, Hussein allegedly threatened them, saying: “Calm down, or something bad will happen.”
Arrest and Charges
Hussein was arrested by Scottsdale detectives and U.S. Secret Service agents on December 11. The judge set a $200,000 cash bond and ordered electronic monitoring if Hussein were to secure his release.
The court imposed restrictions, including:
No internet usage,No international travel, due to concerns that Hussein might destroy evidence or flee to Ethiopia, where he allegedly travels frequently.
Hussein is scheduled to appear in court again on December 18.
Rising Cases of Cryptocurrency Robberies
According to GitHub, there have been at least 19 cases of offline crypto thefts worldwide in the past year. This compares to 17 cases in 2023 and 32 in 2021.
One of the most notable incidents occurred in 2014, when an unknown attacker attempted to extort 1,000 bitcoins from computer scientist and cryptographer Hal Finney. At the time, the stolen amount was valued at $400,000.
Recent Case in Australia
In the latest recorded incident on December 3, thieves in Melbourne, Australia, crashed through a shopping center window and stole a Bitcoin ATM. Police later found the ATM pried open and burning in a park.
#cryptofraud , #cryptocrime , #CryptoNewss , #cybersecurity , #Cryptoscam
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Coinbase Exploiter Flaunts $16 Million Loot and Lavish Lifestyle
$16 Million Exploit: Coinbase Commerce Breached
A fraudster known as "Excite" has gained attention after exploiting a flaw in Coinbase Commerce, stealing nearly $16 million. The exploit involved 1,700 transactions on the Polygon layer-2 network, allowing the attacker to convert stolen USDC from Polygon to Ethereum.
How the Attack Was Executed
The perpetrators employed a common tactic: splitting stolen funds across multiple wallets to obscure blockchain tracking. According to blockchain investigator ZachXBT, most of the stolen funds remain inactive, but some were funneled into crypto gambling platforms like eXch and Stake.
Boasting on Social Media
In May, a Telegram user with the handle "tezedasads12" claimed ownership of a wallet holding $6 million from the hack. This individual also took credit for managing the Instagram account "Excite," where they flaunted a lavish lifestyle, including a pet monkey and expensive watches allegedly purchased in Denmark with stolen funds.
Questions About Coinbase's Security
ZachXBT raised concerns about why Coinbase's Anti-Money Laundering (AML) monitoring system failed to flag the suspicious activity during the 16-hour window when the exploit occurred. There is also speculation that more individuals may have been involved, as the funds were divided in multiple ways.
Other Discovered Heists
This is not the first case uncovered by ZachXBT. In November, he revealed a $6.5 million theft from Coinbase users, allegedly orchestrated by a scammer named Ronald Spektor. Shortly after the report, Spektor deactivated his social media accounts, fueling suspicions of his involvement.
ZachXBT also assisted an elderly victim in recovering $275,000 lost to Indian scammers posing as Coinbase support staff.
Major Arrests Thanks to Investigations
ZachXBT's investigations have led to significant arrests, including a $238 million crypto heist. This case involved scammers impersonating Coinbase support agents to defraud Genesis lender, stealing 4,064 BTC, as reported in August.
Conclusion
This case highlights severe security vulnerabilities in the crypto space, showing that even major platforms like Coinbase are not immune to sophisticated attacks. ZachXBT plays a crucial role in uncovering these crimes and helping victims recover their funds.
#CryptoNewss , #cybersecurity , #BlockchainNews , #Cryptoscam , #CryptoHack
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
A fraudster known as "Excite" has gained attention after exploiting a flaw in Coinbase Commerce, stealing nearly $16 million. The exploit involved 1,700 transactions on the Polygon layer-2 network, allowing the attacker to convert stolen USDC from Polygon to Ethereum.
How the Attack Was Executed
The perpetrators employed a common tactic: splitting stolen funds across multiple wallets to obscure blockchain tracking. According to blockchain investigator ZachXBT, most of the stolen funds remain inactive, but some were funneled into crypto gambling platforms like eXch and Stake.
Boasting on Social Media
In May, a Telegram user with the handle "tezedasads12" claimed ownership of a wallet holding $6 million from the hack. This individual also took credit for managing the Instagram account "Excite," where they flaunted a lavish lifestyle, including a pet monkey and expensive watches allegedly purchased in Denmark with stolen funds.
Questions About Coinbase's Security
ZachXBT raised concerns about why Coinbase's Anti-Money Laundering (AML) monitoring system failed to flag the suspicious activity during the 16-hour window when the exploit occurred. There is also speculation that more individuals may have been involved, as the funds were divided in multiple ways.
Other Discovered Heists
This is not the first case uncovered by ZachXBT. In November, he revealed a $6.5 million theft from Coinbase users, allegedly orchestrated by a scammer named Ronald Spektor. Shortly after the report, Spektor deactivated his social media accounts, fueling suspicions of his involvement.
ZachXBT also assisted an elderly victim in recovering $275,000 lost to Indian scammers posing as Coinbase support staff.
Major Arrests Thanks to Investigations
ZachXBT's investigations have led to significant arrests, including a $238 million crypto heist. This case involved scammers impersonating Coinbase support agents to defraud Genesis lender, stealing 4,064 BTC, as reported in August.
Conclusion
This case highlights severe security vulnerabilities in the crypto space, showing that even major platforms like Coinbase are not immune to sophisticated attacks. ZachXBT plays a crucial role in uncovering these crimes and helping victims recover their funds.
#CryptoNewss , #cybersecurity , #BlockchainNews , #Cryptoscam , #CryptoHack
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
North Korea-Linked Hackers Exploit Radiant Capital for $50 Million Through Social Engineering
North Korean Hackers Orchestrate Sophisticated Attack
A recent postmortem report reveals that North Korea-backed hackers, identified as UNC4736 (also known as Citrine Sleet), exploited Radiant Capital in a $50 million attack. The operation involved advanced social engineering tactics, with the attackers impersonating a "trusted former contractor" and distributing malware via a zipped PDF file.
Phishing Through Fake Domains and Data Manipulation
The hackers created a fake domain mimicking a legitimate Radiant Capital contractor and reached out to the Radiant team through Telegram. They requested feedback on an alleged smart contract audit project. However, the shared file concealed INLETDRIFT malware, which created macOS backdoors, granting the hackers access to hardware wallets of at least three Radiant developers.
Manipulated Transactions and Compromised Security
During the attack on October 16, the malware tampered with the Safe{Wallet} interface (formerly Gnosis Safe), displaying legitimate transaction data to developers while executing malicious transactions in the background. Despite adhering to stringent security protocols like Tenderly simulations and Standard Operating Procedures (SOP), the attackers successfully compromised multiple developer devices.
UNC4736’s Links to North Korea
According to cybersecurity firm Mandiant, UNC4736 is connected to North Korea's General Reconnaissance Bureau. This group is notorious for targeting cryptocurrency companies and financial institutions globally.
North Korean Hackers Fund Nuclear Programs
The Federal Bureau of Investigation (FBI) has previously warned about North Korean hackers’ sophisticated tactics, including targeting cryptocurrency exchanges and prominent firms. Research indicates that these state-backed groups have stolen approximately $3 billion from the cryptocurrency sector since 2017. The stolen funds are reportedly used to finance North Korea's nuclear weapons program.
A Concerning Trend in Cybersecurity
This case highlights the increasing sophistication of cyberattacks, as hackers deploy social engineering and advanced tools to target cryptocurrency firms. Radiant Capital fell victim to a meticulously planned operation, underscoring the urgent need for enhanced security measures within the crypto industry.
#CryptoNewss , #NorthKoreaHackers , #hackers , #Cryptoscam , #CryptoSecurity
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
A recent postmortem report reveals that North Korea-backed hackers, identified as UNC4736 (also known as Citrine Sleet), exploited Radiant Capital in a $50 million attack. The operation involved advanced social engineering tactics, with the attackers impersonating a "trusted former contractor" and distributing malware via a zipped PDF file.
Phishing Through Fake Domains and Data Manipulation
The hackers created a fake domain mimicking a legitimate Radiant Capital contractor and reached out to the Radiant team through Telegram. They requested feedback on an alleged smart contract audit project. However, the shared file concealed INLETDRIFT malware, which created macOS backdoors, granting the hackers access to hardware wallets of at least three Radiant developers.
Manipulated Transactions and Compromised Security
During the attack on October 16, the malware tampered with the Safe{Wallet} interface (formerly Gnosis Safe), displaying legitimate transaction data to developers while executing malicious transactions in the background. Despite adhering to stringent security protocols like Tenderly simulations and Standard Operating Procedures (SOP), the attackers successfully compromised multiple developer devices.
UNC4736’s Links to North Korea
According to cybersecurity firm Mandiant, UNC4736 is connected to North Korea's General Reconnaissance Bureau. This group is notorious for targeting cryptocurrency companies and financial institutions globally.
North Korean Hackers Fund Nuclear Programs
The Federal Bureau of Investigation (FBI) has previously warned about North Korean hackers’ sophisticated tactics, including targeting cryptocurrency exchanges and prominent firms. Research indicates that these state-backed groups have stolen approximately $3 billion from the cryptocurrency sector since 2017. The stolen funds are reportedly used to finance North Korea's nuclear weapons program.
A Concerning Trend in Cybersecurity
This case highlights the increasing sophistication of cyberattacks, as hackers deploy social engineering and advanced tools to target cryptocurrency firms. Radiant Capital fell victim to a meticulously planned operation, underscoring the urgent need for enhanced security measures within the crypto industry.
#CryptoNewss , #NorthKoreaHackers , #hackers , #Cryptoscam , #CryptoSecurity
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
🚨 $HAWK Crash Sparks Outrage & Jail Demands 🚨 🚨🚨
Hailey Welch’s $HAWK memecoin launched on Solana with an explosive $500M market cap but collapsed to $60M in just 20 minutes, wiping out life savings for many. Welch is accused of a rug pull after reportedly controlling 97% of the supply, profiting over $2M.💬 One investor shared on X “$35,000 became $2,000 in minutes... my kids’ college fund is gone!” Calls for jail time against Welch are growing louder as social media is flooded with outrage.🚨$HAWK Crash Sparks Outrage & Jail Demands
Crypto analyst Bento Boi’s warning: Avoid celebrity coins! The centralization of 96% of $HAWK’s supply highlights the dangers of poorly regulated meme coins.
💡 Protect your investments by focusing on established projects like XRP, BTC, and SOL. These coins are backed by solid technology and long-term use cases, reducing the risk of sudden losses seen with hyped coins.
#XRPGoal #BTC500K #Cryptoscam #meme_coin #CryptoSecurity
Hailey Welch’s $HAWK memecoin launched on Solana with an explosive $500M market cap but collapsed to $60M in just 20 minutes, wiping out life savings for many. Welch is accused of a rug pull after reportedly controlling 97% of the supply, profiting over $2M.💬 One investor shared on X “$35,000 became $2,000 in minutes... my kids’ college fund is gone!” Calls for jail time against Welch are growing louder as social media is flooded with outrage.🚨$HAWK Crash Sparks Outrage & Jail Demands
Crypto analyst Bento Boi’s warning: Avoid celebrity coins! The centralization of 96% of $HAWK’s supply highlights the dangers of poorly regulated meme coins.
💡 Protect your investments by focusing on established projects like XRP, BTC, and SOL. These coins are backed by solid technology and long-term use cases, reducing the risk of sudden losses seen with hyped coins.
#XRPGoal #BTC500K #Cryptoscam #meme_coin #CryptoSecurity
🔍 BREAKING: Woman Arrested in Mumbai - ₹6,600 Crores 'Bitcoin Ponzi Scheme' Uncovered
In a significant crackdown on financial fraud, Simpy Bhardwaj alias Simpy Gaur has been apprehended in Mumbai on December 17 in connection with a massive 'Bitcoin Ponzi Scheme.' The Enforcement Directorate revealed that as much as ₹6,600 crores in public deposits were amassed through this elaborate scheme.
🚨 Key Developments:
Simpy Bhardwaj, the prime suspect, was produced before a special Prevention of Money Laundering Act (PMLA) court in Mumbai on December 18 and is currently in ED custody until December 26.The investigation primarily targets Variable Pte Ltd and other entities involved in the 'Gain Bitcoin Ponzi scheme.'
💼 Money Laundering Network Exposed:
The Enforcement Directorate's probe, stemming from FIRs filed by Maharashtra and Delhi Police, implicates several key figures, including Simpy Bhardwaj, Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Mahender Bhardwaj, and multiple MLM agents.
Allegations suggest that the accused collected approximately ₹6,600 crores in Bitcoin from the public under the guise of investment.
⚖️ Active Role in Deception:
The investigation uncovered that Simpy Bhardwaj, alongside her husband Ajay Bhardwaj and MLM agents, played an active role in enticing innocent investors with promises of substantial returns, ultimately defrauding the public.
The illicit gains from the scam were funneled to overseas companies and utilized to acquire properties abroad, with Simpy Bhardwaj allegedly deeply involved in concealing and layering the proceeds of the crime.
🛑 Seizures and Attachments:
During the raids, authorities seized three luxury cars, including a Mercedes and an Audi, along with "incriminating" documents and jewelry valued at ₹18.91 lakh.
Assets totaling ₹69 crores have been attached in the ongoing investigation.
📰 Stay Informed, Stay Vigilant! Follow The Blockopedia for Real-time Updates.
#cryptofraud #Cryptoscam #crypto #cryptocurrency #crypto2023
In a significant crackdown on financial fraud, Simpy Bhardwaj alias Simpy Gaur has been apprehended in Mumbai on December 17 in connection with a massive 'Bitcoin Ponzi Scheme.' The Enforcement Directorate revealed that as much as ₹6,600 crores in public deposits were amassed through this elaborate scheme.
🚨 Key Developments:
Simpy Bhardwaj, the prime suspect, was produced before a special Prevention of Money Laundering Act (PMLA) court in Mumbai on December 18 and is currently in ED custody until December 26.The investigation primarily targets Variable Pte Ltd and other entities involved in the 'Gain Bitcoin Ponzi scheme.'
💼 Money Laundering Network Exposed:
The Enforcement Directorate's probe, stemming from FIRs filed by Maharashtra and Delhi Police, implicates several key figures, including Simpy Bhardwaj, Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Mahender Bhardwaj, and multiple MLM agents.
Allegations suggest that the accused collected approximately ₹6,600 crores in Bitcoin from the public under the guise of investment.
⚖️ Active Role in Deception:
The investigation uncovered that Simpy Bhardwaj, alongside her husband Ajay Bhardwaj and MLM agents, played an active role in enticing innocent investors with promises of substantial returns, ultimately defrauding the public.
The illicit gains from the scam were funneled to overseas companies and utilized to acquire properties abroad, with Simpy Bhardwaj allegedly deeply involved in concealing and layering the proceeds of the crime.
🛑 Seizures and Attachments:
During the raids, authorities seized three luxury cars, including a Mercedes and an Audi, along with "incriminating" documents and jewelry valued at ₹18.91 lakh.
Assets totaling ₹69 crores have been attached in the ongoing investigation.
📰 Stay Informed, Stay Vigilant! Follow The Blockopedia for Real-time Updates.
#cryptofraud #Cryptoscam #crypto #cryptocurrency #crypto2023
Crypto ‘Wallet Drainers’ Steal $295,400,000 in 2023
Crypto wallet drainers have become the scourge of cryptocurrency and Web3 over the past year. These types of malware employ clever phishing techniques to trick users into signing malicious transactions, thereby draining assets from their cryptocurrency wallets.According to data aggregation site Scam Sniffer, wallet drainers stole close to $295 million from approximately 324,082 victims in 2023. The scale and sophistication of attacks continue to accelerate at an alarming pace.Behind the staggering nine-figure theft statistics lies an entire shadow economy centered around selling phishing as a service to enable crypto theft. Security expert ZachXBT shone a spotlight on this phenomenon last August when he exposed one prolific wallet drainer dubbed “Monkey Drainer.” During its six-month run, Monkey Drainer managed to loot $16 million from 18,000 victims.Yet Monkey Drainer pales in comparison with more recent wallet drainers like “Inferno Drainer.” After being active for only nine months, Inferno stole an astonishing $81 million from 134,000 victims. Assuming a typical 20% fee charged by drainers, Inferno likely pocketed over $16 million in profits for its phishing services.And whenever one wallet drainer exits, another swiftly emerges to take its place. Inferno announced its retirement in April, but the preceding month saw replacements like “Angel Drainer” appear on the scene, victimizing 30,000 people out of $20 million so far.Numerous crypto wallet drainers emerge one after the otherThree Primary Phishing Methods The wallet drainer ecosystem relies on three primary methods to direct victim traffic toward their phishing sites:Hacking attacks: infiltrating official social media channels and frontends of crypto projects to broadcast fraudulent links.Organic traffic: riding hype around airdrops, expired Discord links, spam comments to attract unwitting visitors.Paid traffic: buying ads on Twitter and Google to elevate phishing links in search results and timelines.While hacking tends to prompt a quicker community response, the other tactics prove more covert and just as damaging over time.Users should remain vigilant about crypto-related messages and exercise skepticism whenever asked to sign transactions authorizing the withdrawal of funds. Only sign messages on official project sites accessed directly by URL, not through redirects.Following basic security hygiene remains the best defense against phishers. Yet scam innovation perhaps inevitably stays one step ahead, as the explosive growth of wallet draining signifies. #Cryptoscam #dyor
🚨 Massive ₹2,500 Crore Crypto Scam Unravels in India
In the wake of startling revelations, the crypto world is shaken as a colossal scam surfaces in the serene hills of Himachal Pradesh, India.
The Plot of 'Korvio Coin' 🕵️♂️
A staggering ₹2,500-crore (approx. USD 333 million) scam has been unearthed by the Special Investigation Team (SIT) of Himachal Pradesh, casting a shadow on the digital currency landscape. At the center of this scandal is the elusive 'Korvio Coin', a fictitious cryptocurrency that ensnared unsuspecting investors, including government employees, seeking fortune in the digital gold rush.
The Allure and the Prey 🎣
Promising bountiful returns, the schemers lured individuals flush with compensation from infrastructure projects. With the carrot of costly foreign jaunts, agents who excelled in ensnaring investors enjoyed the high life, unsuspecting of the looming crackdown.
The Underbelly Exposed 🚔
The law's long arm has caught up with 18 perpetrators, including a few wily police officials who sought early retirement after their windfall. But the puppeteer of this grand charade, a shadowy figure named Subash, is still beyond the clutches of justice.
The Vigilant Response 🛡️
The Himachal Pradesh Police are now tightening the noose, with inter-agency collaboration and the stringent BUDS Act, 2019, promising a decade behind bars for these digital bandits.
🔍 Stay updated with us as we follow the unraveling of this digital deceit and bring to light the importance of vigilance in the volatile realm of cryptocurrencies.
👉 Follow @TheBlockopedia for cutting-edge crypto news and insights, because when it comes to your investments, knowledge is your greatest asset!
In the wake of startling revelations, the crypto world is shaken as a colossal scam surfaces in the serene hills of Himachal Pradesh, India.
The Plot of 'Korvio Coin' 🕵️♂️
A staggering ₹2,500-crore (approx. USD 333 million) scam has been unearthed by the Special Investigation Team (SIT) of Himachal Pradesh, casting a shadow on the digital currency landscape. At the center of this scandal is the elusive 'Korvio Coin', a fictitious cryptocurrency that ensnared unsuspecting investors, including government employees, seeking fortune in the digital gold rush.
The Allure and the Prey 🎣
Promising bountiful returns, the schemers lured individuals flush with compensation from infrastructure projects. With the carrot of costly foreign jaunts, agents who excelled in ensnaring investors enjoyed the high life, unsuspecting of the looming crackdown.
The Underbelly Exposed 🚔
The law's long arm has caught up with 18 perpetrators, including a few wily police officials who sought early retirement after their windfall. But the puppeteer of this grand charade, a shadowy figure named Subash, is still beyond the clutches of justice.
The Vigilant Response 🛡️
The Himachal Pradesh Police are now tightening the noose, with inter-agency collaboration and the stringent BUDS Act, 2019, promising a decade behind bars for these digital bandits.
🔍 Stay updated with us as we follow the unraveling of this digital deceit and bring to light the importance of vigilance in the volatile realm of cryptocurrencies.
👉 Follow @TheBlockopedia for cutting-edge crypto news and insights, because when it comes to your investments, knowledge is your greatest asset!
🔒 How To Keep Your Cryptocurrencies Secure, Essential Tips!
As Cyber Monday approaches, ensuring the safety of your crypto assets is paramount. Here are vital tips to keep your wealth protected during the shopping frenzy:
1. Hardware Wallets: Fortify Your Defense 🛡️
Consider a hardware wallet like Ledger Nano S Plus or Trezor for the highest level of security. By storing your private keys offline, you add an extra layer of protection, making your funds untouchable even in the face of phishing links or potential viruses.
2. Stick to Official Sites 🌐
Beware of counterfeit websites mimicking trusted platforms. Use only the official websites of retailers or crypto exchanges, and bookmark them in advance. Avoid clicking on links from emails or social media; instead, verify through official channels.
3. Guard Against Impersonators 🎭
Stay skeptical of unsolicited messages or emails, especially those promising exclusive Cyber Monday deals. Legitimate companies won't request personal or payment information through these channels. If in doubt, verify their identity through official channels.
4. Secure Your Seed Phrase 🔑
Your seed phrase is your crypto wallet's master key. Safeguard it by backing up on stainless steel plates like CVER Steel. This method is fireproof, waterproof, and cyberattack-proof, offering robust protection during Cyber Monday chaos.
5. Update 2FA: Double Down on Security 🔄
Review and enhance your Two-Factor Authentication (2FA) methods. Shift from SMS-based 2FA to more secure authenticator apps like Google Authenticator or Authy. This extra layer of defense is crucial for protecting your crypto exchange accounts.
🛡️ Protect Your Crypto Journey! Follow The Blockopedia for Ongoing Security Insights!
📈 Stay informed, stay secure! Follow The Blockopedia for real-time updates on crypto security. Your wealth deserves the best protection! 💼🔐
#Cryptoscam #hackers #crypto #cryptocurrency #crypto2023
As Cyber Monday approaches, ensuring the safety of your crypto assets is paramount. Here are vital tips to keep your wealth protected during the shopping frenzy:
1. Hardware Wallets: Fortify Your Defense 🛡️
Consider a hardware wallet like Ledger Nano S Plus or Trezor for the highest level of security. By storing your private keys offline, you add an extra layer of protection, making your funds untouchable even in the face of phishing links or potential viruses.
2. Stick to Official Sites 🌐
Beware of counterfeit websites mimicking trusted platforms. Use only the official websites of retailers or crypto exchanges, and bookmark them in advance. Avoid clicking on links from emails or social media; instead, verify through official channels.
3. Guard Against Impersonators 🎭
Stay skeptical of unsolicited messages or emails, especially those promising exclusive Cyber Monday deals. Legitimate companies won't request personal or payment information through these channels. If in doubt, verify their identity through official channels.
4. Secure Your Seed Phrase 🔑
Your seed phrase is your crypto wallet's master key. Safeguard it by backing up on stainless steel plates like CVER Steel. This method is fireproof, waterproof, and cyberattack-proof, offering robust protection during Cyber Monday chaos.
5. Update 2FA: Double Down on Security 🔄
Review and enhance your Two-Factor Authentication (2FA) methods. Shift from SMS-based 2FA to more secure authenticator apps like Google Authenticator or Authy. This extra layer of defense is crucial for protecting your crypto exchange accounts.
🛡️ Protect Your Crypto Journey! Follow The Blockopedia for Ongoing Security Insights!
📈 Stay informed, stay secure! Follow The Blockopedia for real-time updates on crypto security. Your wealth deserves the best protection! 💼🔐
#Cryptoscam #hackers #crypto #cryptocurrency #crypto2023
User robbed of crypto after using fake Skype app
SlowMist divulged about an unfortunate incident where a victim lost his cryptos after using the fake version of a popular app.The attackers used a tried-and-tested phishing strategy to steal funds.The preliminary investigation suggested that the masterminds behind the crime were a group of Chinese hackers.With all the promises of quick money that it offers, the world of cryptocurrencies is also fraught with dangers. As the market expands and more funds flow in, it attracts the unwanted attention of malicious hackers.Fake Skype app steals cryptoBlockchain security firm SlowMist divulged information about an unfortunate incident wherein the victim lost his funds after using a fake version of popular social platform Skype.The preliminary investigation suggested that the masterminds behind the crime were a group of Chinese hackers with a track record of targeting Web3 transactions.Slowmist stated that the attackers used a tried-and-tested phishing strategy to steal funds. The fake Skype app asked for permission to access personal information of the users.Treating it like any other social app, users didn’t suspect foul play. However, they had no idea what they were getting themselves into.After getting the access, the app started to upload the data, including images, device information, and phone number to the phishing gang’s backend interface. But hold on! This isn’t even the worst part.The fake app then started tracking users’ message history. Words like Ethereum [ETH] and Tron [TRX] would be specifically checked to detect a crypto wallet transfer. Upon finding one, the destination address would be replaced with the one set by the attackers.Slowmist mentioned that the modus operandi was similar to the one employed during a fake Binance [BNB] phishing case last year.Moreover, the malicious Tron address received nearly 192, 856 Tether [USDT] across 1110 deposit transactions. Similarly, the ETH chain saw inflows of 7,800 USDT in 10 deposit transactions.While SlowMist blacklisted the addresses, it issued a word of caution for those downloading these apps. It asked them to stick to official download channels rather than getting them directly on the Internet.Generally, such cases are more common in China where Google Play is blocked and people end up getting lured to fake app on the internet.#Cryptoscam #dyor
👉👉👉 #Cryptoscam : Indian Engineer Loses $15,000 on #Telegram
An engineer from Delhi, as reported by ANI on Wednesday, has become a victim of a digital scam on Telegram, resulting in a loss of approximately $15,000, a significant amount in the local currency.
The victim received a message on Telegram from an unknown sender, offering an investment opportunity in #cryptocurrencies. Initially trusting the offer, the victim joined a Telegram group, believing it to be legitimate. As he aimed to boost his investments and earn more, he complied with all the demands presented. Starting with an investment of $120.43, he received a return of $180.65, bolstering his confidence.
Encouraged by the apparent success, the victim proceeded to plan additional investments. Eventually, he decided to invest an additional $15,000. However, after making this substantial investment, the scammers abruptly cut off communication and refused to return any money.
A local media survey revealed that Indian investors are frequently targeted by #CryptoScams , with many occurring on the Telegram platform. The susceptibility of Indian investors to scams is attributed to a lack of digital awareness, the inexperience of new investors, and the absence of adequate regulations.
In response to the escalating number of crypto scams, the Indian government is implementing stricter laws. The Financial Intelligence Unit (FIU) previously issued a show cause notice to nine offshore cryptocurrency exchanges, accusing them of "illegally operating" and violating anti-money laundering laws. Digital assets have also been included in the government's watch list, subjecting cryptocurrency markets in India to anti-money laundering provisions.
Source - coingape.com
#CryptoNews🔒📰🚫
An engineer from Delhi, as reported by ANI on Wednesday, has become a victim of a digital scam on Telegram, resulting in a loss of approximately $15,000, a significant amount in the local currency.
The victim received a message on Telegram from an unknown sender, offering an investment opportunity in #cryptocurrencies. Initially trusting the offer, the victim joined a Telegram group, believing it to be legitimate. As he aimed to boost his investments and earn more, he complied with all the demands presented. Starting with an investment of $120.43, he received a return of $180.65, bolstering his confidence.
Encouraged by the apparent success, the victim proceeded to plan additional investments. Eventually, he decided to invest an additional $15,000. However, after making this substantial investment, the scammers abruptly cut off communication and refused to return any money.
A local media survey revealed that Indian investors are frequently targeted by #CryptoScams , with many occurring on the Telegram platform. The susceptibility of Indian investors to scams is attributed to a lack of digital awareness, the inexperience of new investors, and the absence of adequate regulations.
In response to the escalating number of crypto scams, the Indian government is implementing stricter laws. The Financial Intelligence Unit (FIU) previously issued a show cause notice to nine offshore cryptocurrency exchanges, accusing them of "illegally operating" and violating anti-money laundering laws. Digital assets have also been included in the government's watch list, subjecting cryptocurrency markets in India to anti-money laundering provisions.
Source - coingape.com
#CryptoNews🔒📰🚫
A Chinese student, Yang Qichao, has been sentenced to 4 years and 6 months in prison and fined 30,000 yuan ($41,000) for issuing a fraudulent cryptocurrency, BFF, on Binance's BNB Chain.
This marks China's first criminal trial involving #cryptocurrency issuance. Yang was accused of injecting and then withdrawing liquidity from $BFF, causing its value to plummet and leading to significant losses for investors. The trial highlighted the complexities surrounding the legal status of virtual currencies in China.
#BFF #Binance #Cryptoscam #TrendingTopic
This marks China's first criminal trial involving #cryptocurrency issuance. Yang was accused of injecting and then withdrawing liquidity from $BFF, causing its value to plummet and leading to significant losses for investors. The trial highlighted the complexities surrounding the legal status of virtual currencies in China.
#BFF #Binance #Cryptoscam #TrendingTopic
🚨 Scam Alert: Rocky Rabbit Project 🚨
Watch out! The Rocky Rabbit Project is charging a hefty 0.5 TON fee to participate. Here’s why you should be concerned:
1️⃣ Upfront Fees: Legit projects don’t ask for large fees. A high entry cost is a major red flag.
2️⃣ Scam Patterns: High fees often signal Ponzi schemes, collecting funds before collapsing.
3️⃣ False Claims: Be cautious of bold, unverified claims about partnerships or returns.
⚠️ If Rocky Rabbit is demanding big upfront fees, think twice! Always research, verify the team, and avoid red flags. Stay safe!
$BTC $SOL $ETH
#Cryptoscam
#Dyor2024
#StaySafeInTheCryptoWorld
Watch out! The Rocky Rabbit Project is charging a hefty 0.5 TON fee to participate. Here’s why you should be concerned:
1️⃣ Upfront Fees: Legit projects don’t ask for large fees. A high entry cost is a major red flag.
2️⃣ Scam Patterns: High fees often signal Ponzi schemes, collecting funds before collapsing.
3️⃣ False Claims: Be cautious of bold, unverified claims about partnerships or returns.
⚠️ If Rocky Rabbit is demanding big upfront fees, think twice! Always research, verify the team, and avoid red flags. Stay safe!
$BTC $SOL $ETH
#Cryptoscam
#Dyor2024
#StaySafeInTheCryptoWorld
🚨 Must-Know Crypto Updates: End of Summer Edition!
1️⃣ Scammers Revamp Tactics in 2024
A new #Chainalysis report reveals that crypto scammers have adapted their methods in 2024, opting for short-term, high-profit scams. With a focus on smaller targets, the average lifespan of these schemes has dropped by over 50% since 2023.
2️⃣ Elon Musk Beats $258B Dogecoin Lawsuit
A massive victory for Elon Musk! The Tesla founder and X (formerly Twitter) owner just won the dismissal of a $258 billion lawsuit accusing him of hyping #Dogecoin. The court ruled in Musk's favor, putting an end to investor claims of fraud and insider trading.
3️⃣ Australia's Crypto ATM Boom 🇦🇺
Australia is making waves in the crypto world with a 16-fold increase in cryptocurrency ATMs in just two years. Now boasting nearly 1,200 machines, Australia ranks third globally in crypto ATM adoption.
4️⃣ Londoner Charged for Unregistered Crypto ATM
In a UK first, a man from London faces charges for operating a crypto ATM without FCA registration. A stern reminder that regulation is tightening in the crypto space.
5️⃣ Ripple’s Legal Battle with the SEC ⚖️
Ripple’s Chief Legal Officer is going head-to-head with the SEC. Following OpenSea CEO Devin Finzer's announcement of a Wells Notice, Ripple is stepping up its challenge against the regulatory giant.
🔍 Remember to always Do Your Own Research (DYOR) before making any crypto investments.
#CryptoNews #dyor #ripple #Cryptoscam #ElonMusk #crypyocurrency
1️⃣ Scammers Revamp Tactics in 2024
A new #Chainalysis report reveals that crypto scammers have adapted their methods in 2024, opting for short-term, high-profit scams. With a focus on smaller targets, the average lifespan of these schemes has dropped by over 50% since 2023.
2️⃣ Elon Musk Beats $258B Dogecoin Lawsuit
A massive victory for Elon Musk! The Tesla founder and X (formerly Twitter) owner just won the dismissal of a $258 billion lawsuit accusing him of hyping #Dogecoin. The court ruled in Musk's favor, putting an end to investor claims of fraud and insider trading.
3️⃣ Australia's Crypto ATM Boom 🇦🇺
Australia is making waves in the crypto world with a 16-fold increase in cryptocurrency ATMs in just two years. Now boasting nearly 1,200 machines, Australia ranks third globally in crypto ATM adoption.
4️⃣ Londoner Charged for Unregistered Crypto ATM
In a UK first, a man from London faces charges for operating a crypto ATM without FCA registration. A stern reminder that regulation is tightening in the crypto space.
5️⃣ Ripple’s Legal Battle with the SEC ⚖️
Ripple’s Chief Legal Officer is going head-to-head with the SEC. Following OpenSea CEO Devin Finzer's announcement of a Wells Notice, Ripple is stepping up its challenge against the regulatory giant.
🔍 Remember to always Do Your Own Research (DYOR) before making any crypto investments.
#CryptoNews #dyor #ripple #Cryptoscam #ElonMusk #crypyocurrency
BREAKING:🚨 McDonald's Instagram Hacked!🔻
Scammers Strike with "Grimace" Coin Scam
- Hackers took control of McDonald's Instagram account
- Promoted fake "Grimace" cryptocurrency on Solana ($SOL)
- Token surged to $25M in minutes before crashing
- Scammers made off with $700K before posts were deleted
Warning: 🛑🛑‼️‼️
Be cautious of suspicious crypto promotions, especially from compromised accounts!
#McDonaldsHacked #GRIMACE #Cryptoscam #InstagramHacked #stayvigilant
Scammers Strike with "Grimace" Coin Scam
- Hackers took control of McDonald's Instagram account
- Promoted fake "Grimace" cryptocurrency on Solana ($SOL)
- Token surged to $25M in minutes before crashing
- Scammers made off with $700K before posts were deleted
Warning: 🛑🛑‼️‼️
Be cautious of suspicious crypto promotions, especially from compromised accounts!
#McDonaldsHacked #GRIMACE #Cryptoscam #InstagramHacked #stayvigilant
Crypto Scams: A Comprehensive Guide for Detection and Reporting
Navigating Crypto Scams: A Comprehensive Guide
The proliferation of financial scams has reached new heights with the advent of mainstream digital currencies or cryptocurrencies. According to the Federal Trade Commission (FTC), from January 2021 to June 2022, over 46,000 individuals reported losses exceeding $1 billion in cryptocurrency scams. It's essential to recognize that this figure only encompasses those who willingly shared information with authorities.
Consumers often lack sufficient knowledge about digital currency workings and safeguarding digital assets. With crypto transactions devoid of legal protections and government assurances, the allure for fraudsters is significant. The absence of a central authority to flag suspicious transactions and the irreversible nature of crypto transfers further compounds the industry's susceptibility to fraud.
For potential investors or current digital asset holders, understanding prevalent crypto scams, identifying them early, and knowing the appropriate response if victimized is crucial. Delve into an overview of the prevalent crypto scams observed by authorities, along with early detection techniques.
Crypto Scams in 2023
Scammers exhibit creativity in luring victims, often utilizing impersonation and tailored lies. Common crypto scams include:
1. Blackmail and Extortion Scams:
- Scammers threaten to reveal embarrassing information and demand immediate crypto transfers.
- Report such scams to the FBI, refrain from sending money, and avoid communication.
2. "Business Opportunity" Scams:
- Offers of exceptional returns, doubling or tripling crypto assets overnight.
- Caution against guaranteed returns and disregard unsolicited promises.
3. Fake Job Listing Scams:
- Fake job offers, especially in crypto-related fields, requiring upfront crypto payments.
- Exercise skepticism, avoid making payments, and verify job legitimacy.
4. Giveaway Scams:
- Promises of free money or prizes in exchange for compliance.
- Beware of celebrity impersonations and scrutinize offers before participating.
5. Impersonation Scams:
- Impersonation of government, law enforcement, or reputable companies to gain credibility.
- Verify identities independently and avoid transactions prompted by unsolicited communications.
6. Investment Scams:
- Unknown "investment managers" offering incredible opportunities, requiring urgent crypto transfers.
- Scrutinize investment offers, be wary of guaranteed returns, and validate platforms.
7. Phishing Scams:
- Pretending to be legitimate entities to obtain private information, especially wallet keys.
- Exercise caution with unsolicited emails requesting login credentials.
8. Pump and Dump Schemes:
- Coordinated efforts to hype a coin on social media, followed by mass selling.
- Be cautious of sudden hype and conduct thorough research before investing.
9. Romance Scams:
- Establishment of fake romantic relationships to solicit crypto payments or investments.
- Exercise caution and validate identities before engaging in financial transactions.
Detecting Crypto Scams
Look out for red flags such as:
- Offers that seem too good to be true.- "Pay to play" job postings requiring upfront payment.- Promises of guaranteed returns.- Unexpected communications urging immediate action.
Avoiding Victimization
Take proactive steps:
- Utilize cold storage for crypto assets.- Ignore unsolicited communications and verify contacts independently.- Verify contact information directly from official sources.- Conduct thorough research before investing and avoid high-pressure tactics.
Protecting your crypto assets requires diligence, skepticism, and adherence to best practices. Stay informed, stay secure.
Reporting Crypto Scams: Your Responsibility
Whether you've identified a potential crypto scam or find yourself entangled in one, taking action is crucial. Report scams through the following contacts to contribute to holding scammers accountable:
1. Commodity Futures Trading Commission (CFTC):
- Website: [CFTC.gov/complaint](https://www.cftc.gov/complaint)
2. Federal Bureau of Investigation (FBI):
- Website: [FBI Contact](https://www.fbi.gov/contact-us)
3. Federal Trade Commission (FTC):
- Website: [ReportFraud.ftc.gov](https://reportfraud.ftc.gov/)
4. Internet Crime Complaint Center (IC3):
- Website: [ic3.gov/Home/FileComplaint](https://www.ic3.gov/Home/FileComplaint)
5. U.S. Securities and Exchange Commission (SEC):
- Website: [sec.gov/tcr](https://www.sec.gov/tcr)
Recovering from Crypto Scams
Recovering funds from crypto scams is challenging; once sent, retrieving cryptocurrency is nearly impossible. The FTC emphasizes that if you send crypto to someone, retrieval relies on their willingness to return it. Early detection of scam signs is crucial to avoiding substantial financial losses.
Frequently Asked Questions (FAQ)
Q: Can you get scammed if someone sends you crypto?
A: Yes, getting scammed after receiving crypto is possible. Scams may involve gaining trust and convincing you to send back more crypto in return.
Q: What are the biggest cryptocurrency scams in history?
A: Some significant crypto scams include the OneCoin scam (estimated $25 billion in losses), BitConnect scam (approximately $4 billion in losses), Bitclub Network scam (up to $722 million in losses), and the 2022 FTX Trading Ltd. (FTX) fraud allegations, with customer losses exceeding $8 billion. Stay vigilant to protect your assets.
#Cryptoscam #BTC
The proliferation of financial scams has reached new heights with the advent of mainstream digital currencies or cryptocurrencies. According to the Federal Trade Commission (FTC), from January 2021 to June 2022, over 46,000 individuals reported losses exceeding $1 billion in cryptocurrency scams. It's essential to recognize that this figure only encompasses those who willingly shared information with authorities.
Consumers often lack sufficient knowledge about digital currency workings and safeguarding digital assets. With crypto transactions devoid of legal protections and government assurances, the allure for fraudsters is significant. The absence of a central authority to flag suspicious transactions and the irreversible nature of crypto transfers further compounds the industry's susceptibility to fraud.
For potential investors or current digital asset holders, understanding prevalent crypto scams, identifying them early, and knowing the appropriate response if victimized is crucial. Delve into an overview of the prevalent crypto scams observed by authorities, along with early detection techniques.
Crypto Scams in 2023
Scammers exhibit creativity in luring victims, often utilizing impersonation and tailored lies. Common crypto scams include:
1. Blackmail and Extortion Scams:
- Scammers threaten to reveal embarrassing information and demand immediate crypto transfers.
- Report such scams to the FBI, refrain from sending money, and avoid communication.
2. "Business Opportunity" Scams:
- Offers of exceptional returns, doubling or tripling crypto assets overnight.
- Caution against guaranteed returns and disregard unsolicited promises.
3. Fake Job Listing Scams:
- Fake job offers, especially in crypto-related fields, requiring upfront crypto payments.
- Exercise skepticism, avoid making payments, and verify job legitimacy.
4. Giveaway Scams:
- Promises of free money or prizes in exchange for compliance.
- Beware of celebrity impersonations and scrutinize offers before participating.
5. Impersonation Scams:
- Impersonation of government, law enforcement, or reputable companies to gain credibility.
- Verify identities independently and avoid transactions prompted by unsolicited communications.
6. Investment Scams:
- Unknown "investment managers" offering incredible opportunities, requiring urgent crypto transfers.
- Scrutinize investment offers, be wary of guaranteed returns, and validate platforms.
7. Phishing Scams:
- Pretending to be legitimate entities to obtain private information, especially wallet keys.
- Exercise caution with unsolicited emails requesting login credentials.
8. Pump and Dump Schemes:
- Coordinated efforts to hype a coin on social media, followed by mass selling.
- Be cautious of sudden hype and conduct thorough research before investing.
9. Romance Scams:
- Establishment of fake romantic relationships to solicit crypto payments or investments.
- Exercise caution and validate identities before engaging in financial transactions.
Detecting Crypto Scams
Look out for red flags such as:
- Offers that seem too good to be true.- "Pay to play" job postings requiring upfront payment.- Promises of guaranteed returns.- Unexpected communications urging immediate action.
Avoiding Victimization
Take proactive steps:
- Utilize cold storage for crypto assets.- Ignore unsolicited communications and verify contacts independently.- Verify contact information directly from official sources.- Conduct thorough research before investing and avoid high-pressure tactics.
Protecting your crypto assets requires diligence, skepticism, and adherence to best practices. Stay informed, stay secure.
Reporting Crypto Scams: Your Responsibility
Whether you've identified a potential crypto scam or find yourself entangled in one, taking action is crucial. Report scams through the following contacts to contribute to holding scammers accountable:
1. Commodity Futures Trading Commission (CFTC):
- Website: [CFTC.gov/complaint](https://www.cftc.gov/complaint)
2. Federal Bureau of Investigation (FBI):
- Website: [FBI Contact](https://www.fbi.gov/contact-us)
3. Federal Trade Commission (FTC):
- Website: [ReportFraud.ftc.gov](https://reportfraud.ftc.gov/)
4. Internet Crime Complaint Center (IC3):
- Website: [ic3.gov/Home/FileComplaint](https://www.ic3.gov/Home/FileComplaint)
5. U.S. Securities and Exchange Commission (SEC):
- Website: [sec.gov/tcr](https://www.sec.gov/tcr)
Recovering from Crypto Scams
Recovering funds from crypto scams is challenging; once sent, retrieving cryptocurrency is nearly impossible. The FTC emphasizes that if you send crypto to someone, retrieval relies on their willingness to return it. Early detection of scam signs is crucial to avoiding substantial financial losses.
Frequently Asked Questions (FAQ)
Q: Can you get scammed if someone sends you crypto?
A: Yes, getting scammed after receiving crypto is possible. Scams may involve gaining trust and convincing you to send back more crypto in return.
Q: What are the biggest cryptocurrency scams in history?
A: Some significant crypto scams include the OneCoin scam (estimated $25 billion in losses), BitConnect scam (approximately $4 billion in losses), Bitclub Network scam (up to $722 million in losses), and the 2022 FTX Trading Ltd. (FTX) fraud allegations, with customer losses exceeding $8 billion. Stay vigilant to protect your assets.
#Cryptoscam #BTC
🚨 Major Cybersecurity Incident: NFTs Worth $1.5m Stolen From Flooring Protocol
In a recent cyberattack exploit, non-fungible token (NFT) liquidity solution Flooring Protocol fell victim to a breach on December 16, resulting in the theft of NFTs valued at $1.5 million. Here's the breakdown:
🔒 Attack Details:
Reports indicate the attack targeted Flooring Protocol’s peripheral or multicall smart contract, leading to the illicit transfer and subsequent sale of the stolen NFTs by the attacker on the Blur platform.
🔧 Swift Response and Fix:
Flooring Protocol's developers responded promptly, deploying a fix a few hours after the attack. They assure users that the primary smart contract remains secure, and digital assets in vaults and safeboxes were unaffected by the breach.
💰 Stolen NFTs Sold:
Despite the fix, the hacker managed to sell the pilfered NFTs on Blur, reaping between $1.5 million and $1.6 million, contingent on ETH prices.
🚫 Dim Prospects for Recovery:
Boring Security, a security protocol funded by ApeCoin DAO, suggests that users who lost NFTs in the attack may face challenges in recovering them, given the swift actions of the hacker.
🔄 Similar Incidents in the NFT Space:
This incident closely follows a breach on P2P NFT platform NFT Trader, where blue-chip NFTs were stolen. Notably, the hacker in that case initially demanded a bounty but later returned some of the stolen items.
📈 Market Impact:
Despite the attack, Flooring Protocol's native token FLC has shown resilience, experiencing a 12% surge in the last 24 hours. With a one-day trading volume of $3.34 million, FLC has displayed positive performance in the last 30 and 14 days, albeit a 22.2% loss in the previous seven days.
🌐 Flooring Protocol Overview:
Launched just two months ago on October 15, Flooring Protocol quickly gained traction by offering a unique approach to NFTs, breaking them down into ERC-20s.
📈 Stay Informed, Stay Vigilant: Follow The Blockopedia for Real-time Updates in the Crypto Space! 🚀
#Cryptoscam #stolencrypto #crypto #cryptocurrency #crypto2023
In a recent cyberattack exploit, non-fungible token (NFT) liquidity solution Flooring Protocol fell victim to a breach on December 16, resulting in the theft of NFTs valued at $1.5 million. Here's the breakdown:
🔒 Attack Details:
Reports indicate the attack targeted Flooring Protocol’s peripheral or multicall smart contract, leading to the illicit transfer and subsequent sale of the stolen NFTs by the attacker on the Blur platform.
🔧 Swift Response and Fix:
Flooring Protocol's developers responded promptly, deploying a fix a few hours after the attack. They assure users that the primary smart contract remains secure, and digital assets in vaults and safeboxes were unaffected by the breach.
💰 Stolen NFTs Sold:
Despite the fix, the hacker managed to sell the pilfered NFTs on Blur, reaping between $1.5 million and $1.6 million, contingent on ETH prices.
🚫 Dim Prospects for Recovery:
Boring Security, a security protocol funded by ApeCoin DAO, suggests that users who lost NFTs in the attack may face challenges in recovering them, given the swift actions of the hacker.
🔄 Similar Incidents in the NFT Space:
This incident closely follows a breach on P2P NFT platform NFT Trader, where blue-chip NFTs were stolen. Notably, the hacker in that case initially demanded a bounty but later returned some of the stolen items.
📈 Market Impact:
Despite the attack, Flooring Protocol's native token FLC has shown resilience, experiencing a 12% surge in the last 24 hours. With a one-day trading volume of $3.34 million, FLC has displayed positive performance in the last 30 and 14 days, albeit a 22.2% loss in the previous seven days.
🌐 Flooring Protocol Overview:
Launched just two months ago on October 15, Flooring Protocol quickly gained traction by offering a unique approach to NFTs, breaking them down into ERC-20s.
📈 Stay Informed, Stay Vigilant: Follow The Blockopedia for Real-time Updates in the Crypto Space! 🚀
#Cryptoscam #stolencrypto #crypto #cryptocurrency #crypto2023
$BTC UP! to 66k+ ..... guys this is the Time we stay silent 5Min to honor Satoshi
#BTCUptober
En remember #WeAreAllSatoshi 😊
Let's also stay vigilant to #Cryptoscam Today some people received sad news
#FollowMeAndGetReward
#BTCUptober
En remember #WeAreAllSatoshi 😊
Let's also stay vigilant to #Cryptoscam Today some people received sad news
#FollowMeAndGetReward
Hackers of EigenLayer X likely stole $800,000 and are now posting dog pictures
The #etherreum protocol, #EigenLayer , became the victim of a hack on the X platform (formerly Twitter), which spread phishing links and likely caused a loss of $800,000 for one user, according to security experts.
#phishing links enticed users with a fake stakedrop
The first phishing post, published at 11:20 AM, lured users with "Phase 2 of the EIGEN stakedrop," where an alleged supply of EIGEN tokens was supposed to be distributed. This post was later removed, but the account continued to post similar fraudulent messages.
Among these was a seven-part thread that warned users that any further posts could be phishing attempts. The hackers even uploaded a picture of a dog wearing a floral headband to entice users into clicking malicious links.
Analysts warn of the danger
Security analyst Scam Sniffer stated, "The X account of EigenLayer was compromised and posted phishing tweets." They warned that these links could install malware, steal secret recovery phrases, or lead to fake wallet sites like Metamask.
Scam Sniffer further mentioned that one victim lost $800,000 worth of mETH after signing a phishing link around the same time. "It is very likely that the victim clicked on a phishing tweet from EigenLayer," he noted.
Phishing links remain active
At the time of writing, the account is still sharing phishing links, posing an ongoing risk to users of the platform.
#Cryptoscam , #hackers
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
#phishing links enticed users with a fake stakedrop
The first phishing post, published at 11:20 AM, lured users with "Phase 2 of the EIGEN stakedrop," where an alleged supply of EIGEN tokens was supposed to be distributed. This post was later removed, but the account continued to post similar fraudulent messages.
Among these was a seven-part thread that warned users that any further posts could be phishing attempts. The hackers even uploaded a picture of a dog wearing a floral headband to entice users into clicking malicious links.
Analysts warn of the danger
Security analyst Scam Sniffer stated, "The X account of EigenLayer was compromised and posted phishing tweets." They warned that these links could install malware, steal secret recovery phrases, or lead to fake wallet sites like Metamask.
Scam Sniffer further mentioned that one victim lost $800,000 worth of mETH after signing a phishing link around the same time. "It is very likely that the victim clicked on a phishing tweet from EigenLayer," he noted.
Phishing links remain active
At the time of writing, the account is still sharing phishing links, posing an ongoing risk to users of the platform.
#Cryptoscam , #hackers
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Here is how to turn dips to your favour....🚀
You must have heard the saying buy the
dip ..but what if the dip, dips further... here is how to do it properly ...to achieve in crypto space you must avoid greed... your worst enemy is greed....and fear..
So that said ....it's advisable you don't buy the dip with all your funds at once... split it up into Four or five parts ...
Buy the dip with first 25 or 20% ...if it dips further it won't really affect you ...if it increases you can relax ...you already have 25% of that token bought at low price.
if it continues to dip repeat the process at every dip milestone ...that way on average you would have bought very low... because those bought at very low price will complement those bought at high prices.
I'll really love you stop losing your funds ...if you want more tips and insight then you must follow. Also like and share for others to learn.
#Tao #bitcoinhalving #BinanceLaunchpool #Cryptoscam #BTC
You must have heard the saying buy the
dip ..but what if the dip, dips further... here is how to do it properly ...to achieve in crypto space you must avoid greed... your worst enemy is greed....and fear..
So that said ....it's advisable you don't buy the dip with all your funds at once... split it up into Four or five parts ...
Buy the dip with first 25 or 20% ...if it dips further it won't really affect you ...if it increases you can relax ...you already have 25% of that token bought at low price.
if it continues to dip repeat the process at every dip milestone ...that way on average you would have bought very low... because those bought at very low price will complement those bought at high prices.
I'll really love you stop losing your funds ...if you want more tips and insight then you must follow. Also like and share for others to learn.
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