News
Mosca, which allows investors to buy up to 100,000 USDT with cash daily, could not confirm whether its platform had anything to do with a local $6 million fraud scheme.
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Fraud News
Cryptocurrencies promise a lot of security and privacy for the users, but reality is that cryptocurrency use often creates victims of different types of scams, such as digital theft, hacking, phishing and the major cryptocurrency scam – fraud. These frauds can exist in different forms – promising, but fraudulent, ICO’s that don’t inform their investors about the risks and might not have a physical address; cryptocurrency investment platforms that vanish after gathering enough money; and fraudulent cryptocurrency exchanges that utilize multiple tactics to cheat their users. Blockchain technologies are relatively new and the hype that surrounds them poached a lot of low-skilled investors into the field. This has become such a problem that, according to the latest news on cryptocurrency fraud, Twitter has even banned ICO-ads in order to protect its users from fraudulent schemes.
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Former SEC chair Jay Clayton has released public statements on criminal cases involving crypto since becoming interim US Attorney for the Southern District of New York on April 22.
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US prosecutors have shared over 200 victim impact statements in their case against admitted fraudster Alex Mashinsky, whose sentencing is set for May 8.
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The bureau reported that individuals over 60 had been the most affected by crypto-related fraud in 2024, with roughly $2.8 billion in losses.
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Crime syndicates are minting stablecoins and building exchanges to launder billions of dollars, warns a UN report.
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US authorities allege the Nate app was not powered by artificial intelligence but actually overseas human workers who manually processed transactions.
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Thai regulators are sharpening measures against digital asset mule accounts, restricting foreign crypto P2P platforms and imposing penalties of up to $8,700.
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The Australian securities regulator’s application to close 95 “hydra” firms believed to be running crypto trading and romance scams has been approved by the Federal Court of Australia.
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CLS Global is one of the “victims” of the FBI’s trap token NexFundAI, alongside Hong Kong-linked ZM Quant Investment and Russia-linked Gotbit Consulting.
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California’s DFPI crypto scam tracker lets users identify scams early and helps safeguard crypto assets from fraudulent activities.
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US prosecutors have accused Carl Erik Rinsch of spending $11 million worth of Netflix’s funds on stocks and crypto instead of finishing a science fiction TV show he was producing.
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The North Dakota House had passed a crypto ATM bill with looser user transaction limits, but the state’s Senate has tightened that to $2,000 a day.
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Hayden Davies continues launching memecoins plagued with insider trading activity despite being wanted by Interpol for previous crypto scams.
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The missing $1.5 billion may still not have been enough for 3AC to cover creditor claims before the $10 billion crypto hedge fund’s collapse in 2022, Nansen analysts told Cointelegraph.
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Crypto firms push for stricter rules on politically endorsed tokens after the $4 billion Libra collapse, citing liquidity locks and insider trading restrictions as solutions
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