fraud
246,093 views
126 Posts
Hot
Latest
Imagine if the #Blockchain system was implemented in elections, allowing everyone to see the voting process in a ledger. How many impacts could it have in preventing #fraud and corruption?
Cryptocurrency Worth $930,000 Seized by CBI From Ahmedabad-Based Man Who Allegedly Defrauded US Citizen
CBI filed an FIR against Ramavat Shaishav, who allegedly contacted a US citizen over the phone, impersonating an Amazon employee.
The CBI has seized cryptocurrency worth more than $930,000 (around Rs 7.7 crore) from an Ahmedabad-based man who allegedly cheated a US-citizen posing as a senior executive of a multi-national company's fraud department, officials said. Based on inputs from the Federal Bureau of Investigation (FBI) of the United States, the CBI filed an FIR against Ramavat Shaishav, who allegedly contacted the US citizen over the phone and introduced himself as "James Carlson" from the fraud department of Amazon, they said.
During searches, the CBI found 28 Bitcoin, 55 Ethereum, 25,572 Ripple and 77 USDT in Shaishav's e-wallet. These were transferred to the government's wallet at the time of the seizure, the officials said. He allegedly convinced the victim that his account on Amazon was being accessed by unscrupulous elements, and that his social security was being used from four different states to open accounts on the e-commerce platform. "It was also alleged that the accused induced the victim to withdraw cash from his bank accounts and deposit the same in Bitcoin in the RockitCoin ATM Wallet, and also shared a QR code falsely informing him (the victim) that the same was opened by the US Treasury for him," the Central Bureau of Investigation's (CBI) spokesperson said.
$BTC $ETH $XRP #BinanceSquare #CryptoNews #fraud
CBI filed an FIR against Ramavat Shaishav, who allegedly contacted a US citizen over the phone, impersonating an Amazon employee.
The CBI has seized cryptocurrency worth more than $930,000 (around Rs 7.7 crore) from an Ahmedabad-based man who allegedly cheated a US-citizen posing as a senior executive of a multi-national company's fraud department, officials said. Based on inputs from the Federal Bureau of Investigation (FBI) of the United States, the CBI filed an FIR against Ramavat Shaishav, who allegedly contacted the US citizen over the phone and introduced himself as "James Carlson" from the fraud department of Amazon, they said.
During searches, the CBI found 28 Bitcoin, 55 Ethereum, 25,572 Ripple and 77 USDT in Shaishav's e-wallet. These were transferred to the government's wallet at the time of the seizure, the officials said. He allegedly convinced the victim that his account on Amazon was being accessed by unscrupulous elements, and that his social security was being used from four different states to open accounts on the e-commerce platform. "It was also alleged that the accused induced the victim to withdraw cash from his bank accounts and deposit the same in Bitcoin in the RockitCoin ATM Wallet, and also shared a QR code falsely informing him (the victim) that the same was opened by the US Treasury for him," the Central Bureau of Investigation's (CBI) spokesperson said.
$BTC $ETH $XRP #BinanceSquare #CryptoNews #fraud
Malicious Actors Drained $39 Million from DeFi in January 2024
#DeFi security startup Quantstamp has recently released a report highlighting alarming security incidents in the growing world of decentralized finance (DeFi). Malicious actors are employing sophisticated methods to threaten and exploit DeFi protocols.
Nearly $39 Million Lost
Quantstamp revealed that malicious actors managed to drain approximately $38.9 million from DeFi through various attacks. These incidents involved the use of smart contracts, key compromises, and fraud.
Radiant Capital: The First Target
The first significant target was the Radiant Capital protocol, which facilitates cross-chain lending. Attackers caused a loss of 1,900 #ETH (approximately $4.5 million) by exploiting a time window and a known rounding issue in the Compound/Aave code. This incident raised concerns about the security of DeFi platforms and their users.
Gamma Protocol: Another Victim
A devastating attack followed on the Gamma Protocol, a liquidity control protocol, which suffered a loss of approximately $6.18 million. Exploiting vulnerabilities in the price movement threshold configuration allowed attackers to manipulate prices and generate a large number of LP tokens.
Wise Lending and Socket Protocol
Wise Lending, another prominent player, fell victim to a flash loan attack, resulting in a loss of at least $460,000. The Socket Protocol, an interoperability protocol, was also targeted, with attackers exploiting vulnerabilities in a new module to steal approximately $3.3 million from users.
Goledo Finance: A Loss of 7.9 Million CFX
Goledo Finance, a lending protocol within the Conflux ecosystem, was also subjected to an attack, resulting in a loss of 7.9 million CFX (approximately $1.7 million). This incident underscores the serious threat that malicious actors pose to DeFi platforms.
Persistent Threat to DeFi
In conclusion, this series of attacks, including recurring flash loan attacks, underscores the persistent threat that DeFi platforms must contend with. Thorough security measures need to be implemented, and vulnerabilities monitored to minimize losses and safeguard users in this dynamic ecosystem.
$ETH
#crypto #fraud
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.“
Nearly $39 Million Lost
Quantstamp revealed that malicious actors managed to drain approximately $38.9 million from DeFi through various attacks. These incidents involved the use of smart contracts, key compromises, and fraud.
Radiant Capital: The First Target
The first significant target was the Radiant Capital protocol, which facilitates cross-chain lending. Attackers caused a loss of 1,900 #ETH (approximately $4.5 million) by exploiting a time window and a known rounding issue in the Compound/Aave code. This incident raised concerns about the security of DeFi platforms and their users.
Gamma Protocol: Another Victim
A devastating attack followed on the Gamma Protocol, a liquidity control protocol, which suffered a loss of approximately $6.18 million. Exploiting vulnerabilities in the price movement threshold configuration allowed attackers to manipulate prices and generate a large number of LP tokens.
Wise Lending and Socket Protocol
Wise Lending, another prominent player, fell victim to a flash loan attack, resulting in a loss of at least $460,000. The Socket Protocol, an interoperability protocol, was also targeted, with attackers exploiting vulnerabilities in a new module to steal approximately $3.3 million from users.
Goledo Finance: A Loss of 7.9 Million CFX
Goledo Finance, a lending protocol within the Conflux ecosystem, was also subjected to an attack, resulting in a loss of 7.9 million CFX (approximately $1.7 million). This incident underscores the serious threat that malicious actors pose to DeFi platforms.
Persistent Threat to DeFi
In conclusion, this series of attacks, including recurring flash loan attacks, underscores the persistent threat that DeFi platforms must contend with. Thorough security measures need to be implemented, and vulnerabilities monitored to minimize losses and safeguard users in this dynamic ecosystem.
$ETH
#crypto #fraud
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.“
Kazakhstan Regulator Issues Subpoena to Atomic Wallet Operators
According to Folklog, a media specializing in cryptocurrencies, Kazakhstan's regulator has issued a subpoena to the operator of Atomic Wallet, a cryptocurrency wallet that was recently exposed to hacking attacks. In addition, the regulatory body requested access to the log-in record server of Atomic Wallet users. Previously, Atomic Wallet announced a wallet security issue on the 3rd, and announced that it was estimated that at least $35 million of cryptocurrency was stolen.
The attack was reportedly carried out by the North Korean hacker group Lazarus.
#attack #cryptocurrency #hackers #fraud #attack
According to Folklog, a media specializing in cryptocurrencies, Kazakhstan's regulator has issued a subpoena to the operator of Atomic Wallet, a cryptocurrency wallet that was recently exposed to hacking attacks. In addition, the regulatory body requested access to the log-in record server of Atomic Wallet users. Previously, Atomic Wallet announced a wallet security issue on the 3rd, and announced that it was estimated that at least $35 million of cryptocurrency was stolen.
The attack was reportedly carried out by the North Korean hacker group Lazarus.
#attack #cryptocurrency #hackers #fraud #attack
Investment Fraud Involving Cryptocurrencies Cost US Investors $2.57B In 2022
Internet #fraud cost US citizens more over $10 billion in 2022, with $2.57 billion of that loss coming from #cryptocurrency investment schemes.
In 2021, fraudulent cryptocurrency investment losses will amount $907 million. The victims are mostly between the ages of 30 and 49. Getting consumers to connect their wallets to fraudulent liquidity mining software in order to steal their money or take over their social media accounts is the most common technique of fraud.
While more people are being convinced to part with their hard-earned money in these fraudulent scams, this unpleasant trend is on the rise. In order to avoid falling victim to such scams, it is essential to do sufficient research before making an investment. To further safeguard the security of your money, it is essential to only work with reputable and reliable brokers and exchangers.
Scams using bitcoin are becoming more and more of a concern for everyone, not just Americans. #Scams can take many different shapes, such as fake ICOs, Ponzi plans, and phishing. A recent Federal Trade Commission (FTC) survey found that men between the ages of 20 and 49 were the most affected demographic.
It is crucial to remember that fraudsters find cryptocurrencies and #blockchain technology to be enticing targets due to their nature. Because transactions are decentralized and participants are anonymous, it is challenging to track down and recover stolen assets. This underlines how crucial it is to use cautious while working with bitcoin.
The crypto sector is still in its infancy and has a dismal track record for its companies. Yet, this is a promising area that is anticipated to grow quickly in the future. In order to make the rules more restrictive for both enterprises and investors, government agencies are working on legal concerns.
It's crucial to use caution and awareness when investing in cryptocurrency. Do your research, work with reputable brokers, and always verify the legitimacy of investment opportunities before you deposit your money. You can prevent falling for #bitcoin investment scams by taking these precautions.
In 2021, fraudulent cryptocurrency investment losses will amount $907 million. The victims are mostly between the ages of 30 and 49. Getting consumers to connect their wallets to fraudulent liquidity mining software in order to steal their money or take over their social media accounts is the most common technique of fraud.
While more people are being convinced to part with their hard-earned money in these fraudulent scams, this unpleasant trend is on the rise. In order to avoid falling victim to such scams, it is essential to do sufficient research before making an investment. To further safeguard the security of your money, it is essential to only work with reputable and reliable brokers and exchangers.
Scams using bitcoin are becoming more and more of a concern for everyone, not just Americans. #Scams can take many different shapes, such as fake ICOs, Ponzi plans, and phishing. A recent Federal Trade Commission (FTC) survey found that men between the ages of 20 and 49 were the most affected demographic.
It is crucial to remember that fraudsters find cryptocurrencies and #blockchain technology to be enticing targets due to their nature. Because transactions are decentralized and participants are anonymous, it is challenging to track down and recover stolen assets. This underlines how crucial it is to use cautious while working with bitcoin.
The crypto sector is still in its infancy and has a dismal track record for its companies. Yet, this is a promising area that is anticipated to grow quickly in the future. In order to make the rules more restrictive for both enterprises and investors, government agencies are working on legal concerns.
It's crucial to use caution and awareness when investing in cryptocurrency. Do your research, work with reputable brokers, and always verify the legitimacy of investment opportunities before you deposit your money. You can prevent falling for #bitcoin investment scams by taking these precautions.
🇮🇳In a shocking development, WazirX, one of India's leading cryptocurrency exchanges, was hacked by the notorious Lazarus Group. Known for their sophisticated cyber attacks, the North Korean hacker collective has once again demonstrated their prowess, causing significant disruption in the crypto world.
The attack resulted in substantial losses for WazirX users, with assets worth millions of dollars siphoned off. The breach was meticulously executed, leaving the platform and its security teams scrambling to respond. Despite their efforts, the stolen assets have not been recovered, and the chances of retrieving them grow slimmer by the day.
Adding to the frustration of affected users, WazirX has announced that it will not be able to issue refunds. The decision stems from the exchange's current financial constraints and the scale of the hack. This has left many users grappling with the harsh reality of losing their investments, highlighting the inherent risks associated with cryptocurrency trading.
In an attempt to mitigate the damage and bring the culprits to justice, WazirX has turned to the global community of cybersecurity experts and bounty hunters. A significant bounty has been placed for any information leading to the recovery of the stolen assets or the identification of the perpetrators. While this move showcases the exchange's commitment to resolving the issue, it remains uncertain if it will yield the desired results.
The WazirX hack has cast a shadow over the burgeoning cryptocurrency market in India. As the country grapples with regulatory uncertainty and evolving digital asset policies, this incident could prompt stricter oversight and more rigorous security measures. However, it also underscores the resilience and adaptability of the crypto community, which continues to push forward despite setbacks.For India, the path to becoming a significant player in the global cryptocurrency landscape is fraught with challenges.
#wazirX #india #wazirxExchangeHacked #fraud #cryptocurrencyExcange
@CoinCrier
The attack resulted in substantial losses for WazirX users, with assets worth millions of dollars siphoned off. The breach was meticulously executed, leaving the platform and its security teams scrambling to respond. Despite their efforts, the stolen assets have not been recovered, and the chances of retrieving them grow slimmer by the day.
Adding to the frustration of affected users, WazirX has announced that it will not be able to issue refunds. The decision stems from the exchange's current financial constraints and the scale of the hack. This has left many users grappling with the harsh reality of losing their investments, highlighting the inherent risks associated with cryptocurrency trading.
In an attempt to mitigate the damage and bring the culprits to justice, WazirX has turned to the global community of cybersecurity experts and bounty hunters. A significant bounty has been placed for any information leading to the recovery of the stolen assets or the identification of the perpetrators. While this move showcases the exchange's commitment to resolving the issue, it remains uncertain if it will yield the desired results.
The WazirX hack has cast a shadow over the burgeoning cryptocurrency market in India. As the country grapples with regulatory uncertainty and evolving digital asset policies, this incident could prompt stricter oversight and more rigorous security measures. However, it also underscores the resilience and adaptability of the crypto community, which continues to push forward despite setbacks.For India, the path to becoming a significant player in the global cryptocurrency landscape is fraught with challenges.
#wazirX #india #wazirxExchangeHacked #fraud #cryptocurrencyExcange
@CoinCrier
Lure of big returns makes Himachal ex-serviceman lose Rs 1.5 crore in cryptocurrency scheme 😱😱‼️‼️
An ex-serviceman from the Pacchad area of Rajgarh subdivision in Sirmaur district has lost Rs 1.5 crore in a cryptocurrency scheme in the lure of doubling money.
Vidya Prakash had invested Rs 1.5 crore in the cryptocurrency scheme on the advice of agent Hemraj, who had promised to double his money within two years. He, however, lost his principal amount, too. He lodged a complaint with the Pacchad police yesterday. “The police forwarded the complaint to the special investigation team (SIT) probing into the cryptocurrency fraud,” said Som Dutt, Additional SP, Sirmaur.
The SIT had arrested Hemraj and 17 others across the state for cryptocurrency frauds. Besides, residents of Dadahu, Paonta Sahib, Nahan, Shillai and Sataun in the district have also lost Rs 60 lakh in the cryptocurrency scam after being lured by agents.
#fraud #scammer #scam #CryptoNews #cryptofarud
An ex-serviceman from the Pacchad area of Rajgarh subdivision in Sirmaur district has lost Rs 1.5 crore in a cryptocurrency scheme in the lure of doubling money.
Vidya Prakash had invested Rs 1.5 crore in the cryptocurrency scheme on the advice of agent Hemraj, who had promised to double his money within two years. He, however, lost his principal amount, too. He lodged a complaint with the Pacchad police yesterday. “The police forwarded the complaint to the special investigation team (SIT) probing into the cryptocurrency fraud,” said Som Dutt, Additional SP, Sirmaur.
The SIT had arrested Hemraj and 17 others across the state for cryptocurrency frauds. Besides, residents of Dadahu, Paonta Sahib, Nahan, Shillai and Sataun in the district have also lost Rs 60 lakh in the cryptocurrency scam after being lured by agents.
#fraud #scammer #scam #CryptoNews #cryptofarud
Himachal cryptocurrency scam: Meerut engineer made website, was trained in Dubai 😱😱
Police said that the engineer, who is now believed to be one of the masterminds of the scam, also made several trips to Dubai and was trained there.
The special investigation team (SIT) of Himachal Pradesh Police probing the multi-crore cryptocurrency scam has found that a Meerut-based engineer designed a software and created the website to lure individuals into investing in the scheme.
According to police, people from different walks of life invested more than ₹2,500 crore in the elaborate ponzi scheme (iStock).
Police said that the engineer, who is now believed to be one of the masterminds of the scam, also made several trips to Dubai and was trained there.
The fraudulent website listed various investment opportunities, promising a chance to double the funds. People were drawn to the platform, unaware of the deceit that awaited them.
The SIT has already made 18 arrests in the case. On November 4, police arrested eight individuals, including four cops and a forest guard, in connection with the case.
The Himachal police is co-ordinating with central and financial agencies and other state police, the DGP said.
Action is being taken against them under the Banning of Unregulated Deposits Schemes (BUDS) Act, 2019, the police said.
However, the kingpin of the scam Subhash Sharma from Sarkaghat in Mandi is still at large. Over 300 complaints have been received in connection with the multi-crore cryptocurrency ponzi scam that began in the state in 2018.
Fraudsters approached people with an investment plan related to a locally made (in Mandi district) cryptocurrency known as “Korvio Coin” or KRO coins. Three to four kinds of cryptocurrency were used and false websites in which the cryptocurrency prices were manipulated and inflated were created. Cryptocurrency is a digital currency designed to work as a medium of exchange through a computer network that is not dependent on any central authority, such as the government or bank to uphold or maintain it.
#fraud #scammer
Police said that the engineer, who is now believed to be one of the masterminds of the scam, also made several trips to Dubai and was trained there.
The special investigation team (SIT) of Himachal Pradesh Police probing the multi-crore cryptocurrency scam has found that a Meerut-based engineer designed a software and created the website to lure individuals into investing in the scheme.
According to police, people from different walks of life invested more than ₹2,500 crore in the elaborate ponzi scheme (iStock).
Police said that the engineer, who is now believed to be one of the masterminds of the scam, also made several trips to Dubai and was trained there.
The fraudulent website listed various investment opportunities, promising a chance to double the funds. People were drawn to the platform, unaware of the deceit that awaited them.
The SIT has already made 18 arrests in the case. On November 4, police arrested eight individuals, including four cops and a forest guard, in connection with the case.
The Himachal police is co-ordinating with central and financial agencies and other state police, the DGP said.
Action is being taken against them under the Banning of Unregulated Deposits Schemes (BUDS) Act, 2019, the police said.
However, the kingpin of the scam Subhash Sharma from Sarkaghat in Mandi is still at large. Over 300 complaints have been received in connection with the multi-crore cryptocurrency ponzi scam that began in the state in 2018.
Fraudsters approached people with an investment plan related to a locally made (in Mandi district) cryptocurrency known as “Korvio Coin” or KRO coins. Three to four kinds of cryptocurrency were used and false websites in which the cryptocurrency prices were manipulated and inflated were created. Cryptocurrency is a digital currency designed to work as a medium of exchange through a computer network that is not dependent on any central authority, such as the government or bank to uphold or maintain it.
#fraud #scammer
Like I always say .
Exchanges are the only reason for crypto market failing and falling
Exchanges Greed never stops and they have finally managed to screw the market ..
Well Done !! It is because no one stops them and no one files case and additionally they make you esign that they are not responsible for your loss when reality is they are the only ones responsible and the Elites they work with
Shame on all CEX owners and teams
And they talk against DEX from where they pick the coins .. lol
#cex #dex #traders #scam #fraud
Exchanges are the only reason for crypto market failing and falling
Exchanges Greed never stops and they have finally managed to screw the market ..
Well Done !! It is because no one stops them and no one files case and additionally they make you esign that they are not responsible for your loss when reality is they are the only ones responsible and the Elites they work with
Shame on all CEX owners and teams
And they talk against DEX from where they pick the coins .. lol
#cex #dex #traders #scam #fraud
SBF, founder of FTX, requests a 6.5-year sentence and advises guards to invest in Solana
According to a recent article in The New York Times, Sam "SBF" Bankman-Fried, the founder of the cryptocurrency exchange FTX, is providing investment advice to prison guards and suggesting investments in the cryptocurrency Solana.
SBF's legal representatives seek a lighter sentence
The legal team of former FTX chief, Sam "SBF" Bankman-Fried, filed a motion in the Federal District Court in Manhattan requesting a sentence ranging from five and a quarter years to six and a half years. Following charges of multiple offenses including fraud and money laundering, which could have led SBF to face up to 110 years in prison, this request emerges as a response to last year's jury verdict.
Details of the charges and expected sentence
SBF faces charges of various financial crimes, including wire fraud, conspiracy to commit securities fraud, and money laundering. The sentence for SBF is scheduled to be handed down by Judge Lewis A. Kaplan on March 28, while federal prosecutors are expected to submit their sentencing recommendation by March 15. A preliminary investigation report suggested a sentence of 100 years.
Defense arguments for a reduced sentence
SBF's lawyers have labeled the proposed century-long sentence as "barbaric," pointing out that SBF is a first-time offender with no prior criminal record and that four co-defendants have confessed to the crimes. Furthermore, they argued that the damages to clients, creditors, and investors are zero, as the bankruptcy process of FTX is expected to enable full reimbursement to clients for their losses.
SBF's life in prison and his advice to prison guards
Since his imprisonment at the Metropolitan Detention Center in Brooklyn last summer, several stories about SBF have emerged from prison, including his offering of trading and investment advice to prison guards, recommending investment in the cryptocurrency Solana. This activity follows the collapse of FTX, one of the largest crypto exchanges, which was valued at $32 billion in January 2022 before collapsing in November of the same year due to mismanagement and fraud involving $8 billion of customer funds.
$SOL
#Solana #SBF #fraud
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.“
SBF's legal representatives seek a lighter sentence
The legal team of former FTX chief, Sam "SBF" Bankman-Fried, filed a motion in the Federal District Court in Manhattan requesting a sentence ranging from five and a quarter years to six and a half years. Following charges of multiple offenses including fraud and money laundering, which could have led SBF to face up to 110 years in prison, this request emerges as a response to last year's jury verdict.
Details of the charges and expected sentence
SBF faces charges of various financial crimes, including wire fraud, conspiracy to commit securities fraud, and money laundering. The sentence for SBF is scheduled to be handed down by Judge Lewis A. Kaplan on March 28, while federal prosecutors are expected to submit their sentencing recommendation by March 15. A preliminary investigation report suggested a sentence of 100 years.
Defense arguments for a reduced sentence
SBF's lawyers have labeled the proposed century-long sentence as "barbaric," pointing out that SBF is a first-time offender with no prior criminal record and that four co-defendants have confessed to the crimes. Furthermore, they argued that the damages to clients, creditors, and investors are zero, as the bankruptcy process of FTX is expected to enable full reimbursement to clients for their losses.
SBF's life in prison and his advice to prison guards
Since his imprisonment at the Metropolitan Detention Center in Brooklyn last summer, several stories about SBF have emerged from prison, including his offering of trading and investment advice to prison guards, recommending investment in the cryptocurrency Solana. This activity follows the collapse of FTX, one of the largest crypto exchanges, which was valued at $32 billion in January 2022 before collapsing in November of the same year due to mismanagement and fraud involving $8 billion of customer funds.
$SOL
#Solana #SBF #fraud
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.“
🚨UK bank HSBC blocks crypto buys with credit cards! Crypto crackdown or bank panic? They should fix their own money laundering scandals before messing with our crypto freedom. Remember HSBC’s $1.9B fine for drug cash? #DeFi #cryptonews #fraud
Cyber Fraud: Man Arrested For Duping Rs 73 Lakh In Gurgaon
GURGAON: A 28-year-old man, identified as Ajay Kumar and believed to be part of a fraudulent gang, was arrested in Gurgaon on charges of defrauding multiple individuals of Rs 73 lakh through an investment scam that leveraged the names of YouTube and the Moj app.The police seized a mobile device and two SIM cards from Kumar.
The modus operandi involved Kumar luring victims into the scam by sending them a link via WhatsApp. He enticed them with the promise of earning money by 'liking' content on YouTube/Moj app, the platform to which the link directed them. Subsequently, he convinced them to make an initial investment to participate in the scheme and, eventually, defrauded them of Rs 10.20 lakh in one case.
The Cyber Crime Police Station, East, registered a case related to the matter, and a police team, led by Inspector Jasvir, successfully arrested Kumar.
During the interrogation, Kumar disclosed that he had transferred Rs 6.80 lakh, which he had defrauded from the victim, into his bank account at the behest of one of his associates. In return, he received a commission of Rs 50,000 for his involvement, as explained by ACP (Crime) Varun Dahiya.
#scam #fraud #CryptoNews #BinanceSquare $BTC #cybercrime
GURGAON: A 28-year-old man, identified as Ajay Kumar and believed to be part of a fraudulent gang, was arrested in Gurgaon on charges of defrauding multiple individuals of Rs 73 lakh through an investment scam that leveraged the names of YouTube and the Moj app.The police seized a mobile device and two SIM cards from Kumar.
The modus operandi involved Kumar luring victims into the scam by sending them a link via WhatsApp. He enticed them with the promise of earning money by 'liking' content on YouTube/Moj app, the platform to which the link directed them. Subsequently, he convinced them to make an initial investment to participate in the scheme and, eventually, defrauded them of Rs 10.20 lakh in one case.
The Cyber Crime Police Station, East, registered a case related to the matter, and a police team, led by Inspector Jasvir, successfully arrested Kumar.
During the interrogation, Kumar disclosed that he had transferred Rs 6.80 lakh, which he had defrauded from the victim, into his bank account at the behest of one of his associates. In return, he received a commission of Rs 50,000 for his involvement, as explained by ACP (Crime) Varun Dahiya.
#scam #fraud #CryptoNews #BinanceSquare $BTC #cybercrime
FTX Hack Mystery Possibly Solved: Trio Accused of Cryptocurrency Exchange Theft
Federal indictment does not name FTX or Sam Bankman-Fried as the victimized company, but Bloomberg reports it was indeed them.
The United States federal government has on Wednesday issued charges against three individuals allegedly involved in a long-standing hacking scheme culminating in the infamous theft of $400 million from FTX, a #cryptocurrency exchange owned by Sam Bankman-Fried, which subsequently collapsed.
In an 18-page indictment filed in a federal court in Washington, prosecutors have accused Robert Powell, Carter Rohn, and Emily Hernandez of conspiring to commit wire fraud and identity theft in the operation of a SIM card swap ring targeting fifty victims from March 2021 to April 2023.
Their most significant heist took place on November 11, 2022, when the trio siphoned off $400 million from an unidentified company. Bloomberg, citing sources familiar with the matter, claims that the company in question was FTX.
Through AT&T networks, they gained access to the cryptocurrency exchange's employees and transferred cryptocurrencies worth hundreds of millions of dollars.
This indictment may finally provide an answer to one of the most significant questions surrounding the FTX scandal: Where did the hundreds of millions of dollars in cryptocurrencies disappear to during the darkest hour of the exchange, right after it filed for bankruptcy protection.
#crypto #fraud
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.“
The United States federal government has on Wednesday issued charges against three individuals allegedly involved in a long-standing hacking scheme culminating in the infamous theft of $400 million from FTX, a #cryptocurrency exchange owned by Sam Bankman-Fried, which subsequently collapsed.
In an 18-page indictment filed in a federal court in Washington, prosecutors have accused Robert Powell, Carter Rohn, and Emily Hernandez of conspiring to commit wire fraud and identity theft in the operation of a SIM card swap ring targeting fifty victims from March 2021 to April 2023.
Their most significant heist took place on November 11, 2022, when the trio siphoned off $400 million from an unidentified company. Bloomberg, citing sources familiar with the matter, claims that the company in question was FTX.
Through AT&T networks, they gained access to the cryptocurrency exchange's employees and transferred cryptocurrencies worth hundreds of millions of dollars.
This indictment may finally provide an answer to one of the most significant questions surrounding the FTX scandal: Where did the hundreds of millions of dollars in cryptocurrencies disappear to during the darkest hour of the exchange, right after it filed for bankruptcy protection.
#crypto #fraud
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.“
Mumbai Police saves 3 from falling prey to cyber frauds, recovers Rs 17 lakh 😱😱😱
The fraudsters established communication with the victims, won their trust and defrauded them of lakhs of rupees. Different cases under sections for cheating and under the IT Act have been registered against unknown persons.
The Mumbai Police along with cyber detection officials saved three people from falling prey to cyber attacks.
The fraudsters established communication with the victims, won their trust and defrauded them of lakhs of rupees. Different cases under sections for cheating and under the Information Technology Act have been registered against unknown persons.
A total of Rs 17 lakhs has been frozen by the cyber sleuths, sources told India Today.
$CYBER #Cyber #CyberAttack #CyberSecurity #fraud
The fraudsters established communication with the victims, won their trust and defrauded them of lakhs of rupees. Different cases under sections for cheating and under the IT Act have been registered against unknown persons.
The Mumbai Police along with cyber detection officials saved three people from falling prey to cyber attacks.
The fraudsters established communication with the victims, won their trust and defrauded them of lakhs of rupees. Different cases under sections for cheating and under the Information Technology Act have been registered against unknown persons.
A total of Rs 17 lakhs has been frozen by the cyber sleuths, sources told India Today.
$CYBER #Cyber #CyberAttack #CyberSecurity #fraud
#MyFirstSquarePost New to Binance Square, thrilled to share and connect with everyone here!
Hamster kombat is now launching their airdrop and they SCAM with us by giving to a lot of users ‘ cheating is bad card ‘#hamsterkombatscam #fraud #BoycottHamsterKombat
Hamster kombat is now launching their airdrop and they SCAM with us by giving to a lot of users ‘ cheating is bad card ‘#hamsterkombatscam #fraud #BoycottHamsterKombat
#BoycottHamsterKombat #fraud #scam #hamsterkombatscam #banhamsterkombat #reporthamsterkombat @everyone report HK on YouTube as well as on telegram. I didn't even cheat and mined all keys organically still they gave me ni airdrop just because I had more than 500 keys which I spent my hours days and even months on...
Rise in Cryptocurrency Frauds
The Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, recently highlighted the increasing number of frauds in the cryptocurrency space, which is linked to the historic surge in the price of Bitcoin. Gensler emphasized the risks associated with unethical practices in the crypto world and pointed out the volatile nature of Bitcoin, which can attract speculative investors.
Gensler pointed out the issues in the broader context of the crypto industry, including the dangers arising from inadequate information provided by digital asset intermediaries, which could jeopardize investors.
Year 2023: Record Year for Cryptocurrency Frauds
According to analysis by Chainalysis, frauds became a key factor in cryptocurrency-related crime in 2023, with generated revenues exceeding $4.6 billion. The FBI's report on internet crime shows that there was an increase in losses from crypto investment frauds in the USA to $3.94 billion, representing a 53% increase from the previous year. Investment frauds became the most common type of internet crime in 2023.
Reasons for the Increase in Frauds
The rise in frauds is linked to increasing interest in high-yield investment opportunities during strong market sentiment. Chainalysis research suggests that frauds generate smaller revenues during downturns in the crypto market.
Most Common Types of Fraudulent Schemes
The BBB's 2023 fraud report revealed that scammers come up with innovative methods to deceive investors, with approximately 80% of Americans targeted by crypto and investment frauds in 2022 experiencing financial losses. A significant increase was noted in cases of romance scams, which increased 85 times since 2020.
Pump and dump schemes are unpredictable and utilize new tokens to artificially inflate their prices, enabling fraudsters to make money when prices are at their peak. According to Chainalysis, only a small percentage of the more than 370,000 tokens launched on Ethereum in 2023 achieved significant liquidity.
How to Protect Oneself
The key to protecting oneself from frauds is to be vigilant and informed about potential risks. A proactive approach and caution in trading cryptocurrencies can help minimize the possibility of falling victim to frauds.
Conclusion
The risk of frauds is high in the cryptocurrency world, especially at a time when the market is constantly evolving and attracting new investors. It is important to be aware of potential dangers and take measures to protect your investments.
#crypto #fraud
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.“
Gensler pointed out the issues in the broader context of the crypto industry, including the dangers arising from inadequate information provided by digital asset intermediaries, which could jeopardize investors.
Year 2023: Record Year for Cryptocurrency Frauds
According to analysis by Chainalysis, frauds became a key factor in cryptocurrency-related crime in 2023, with generated revenues exceeding $4.6 billion. The FBI's report on internet crime shows that there was an increase in losses from crypto investment frauds in the USA to $3.94 billion, representing a 53% increase from the previous year. Investment frauds became the most common type of internet crime in 2023.
Reasons for the Increase in Frauds
The rise in frauds is linked to increasing interest in high-yield investment opportunities during strong market sentiment. Chainalysis research suggests that frauds generate smaller revenues during downturns in the crypto market.
Most Common Types of Fraudulent Schemes
The BBB's 2023 fraud report revealed that scammers come up with innovative methods to deceive investors, with approximately 80% of Americans targeted by crypto and investment frauds in 2022 experiencing financial losses. A significant increase was noted in cases of romance scams, which increased 85 times since 2020.
Pump and dump schemes are unpredictable and utilize new tokens to artificially inflate their prices, enabling fraudsters to make money when prices are at their peak. According to Chainalysis, only a small percentage of the more than 370,000 tokens launched on Ethereum in 2023 achieved significant liquidity.
How to Protect Oneself
The key to protecting oneself from frauds is to be vigilant and informed about potential risks. A proactive approach and caution in trading cryptocurrencies can help minimize the possibility of falling victim to frauds.
Conclusion
The risk of frauds is high in the cryptocurrency world, especially at a time when the market is constantly evolving and attracting new investors. It is important to be aware of potential dangers and take measures to protect your investments.
#crypto #fraud
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.“
$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
