A British hacker, Elliot Gunton, received a three and a half-year prison sentence for stealing over $900,000 from 500 Coinbase accounts through phishing. Gunton's sophisticated scheme involved redirecting log-ins to a fake website. In a separate case, Abner Alejandro Tinoco and his firm were ordered to pay over $31 million for running fraudulent crypto and forex schemes. The schemes, akin to Ponzi schemes, funded Tinoco's lavish lifestyle. Additionally, a Korean man was arrested for defrauding victims of $1.3 million through a fake crypto-mining business. These cases highlight the prevalence of crypto-related scams and the legal repercussions faced by perpetrators. Investors are advised to exercise caution and be wary of solicitations offering unrealistic returns to avoid falling victim to such fraudulent schemes. Read more AI-generated news on: https://app.chaingpt.org/news