A Chinese court has sentenced nine individuals involved in a telecom fraud ring that defrauded over 66,000 Indian victims, laundering the proceeds through Tether's USDT stablecoin. The operation, which stole 517 million Indian rupees (approximately $6.2 million), was orchestrated through fake investment platforms, according to The Global Times. The scheme ...
The Federal Bureau of Investigation (FBI) has warned about a rising scam where fraudsters impersonate employees of cryptocurrency exchanges to steal users' funds. These fraudsters employ phone calls or messages to falsely pose as representatives of crypto exchanges, fabricating account issues or security breaches to dupe unsuspecting victims. These imposters ...
Deepfake scams are on the rise in the cryptocurrency sector and could cause losses exceeding $25 billion by the end of 2024, a new report from Bitget Research claims. According to the report, the first quarter of 2024 alone saw $6.3 billion in cryptocurrency losses due to deepfakes, coinciding with ...
Regulators in the United States and Canada have issued warnings to consumers about the rapid increase in romance scams involving cryptocurrencies, urging them to be cautious of their online interactions. In a recent statement, the U.S. Federal Trade Commission (FTC) advised individuals to be cautious of online love interests who ...
South Korean authorities have arrested Bitsonic CEO Jinwook Shin on charges of embezzling investments and deposits belonging to the exchange users. This arrest follows an extensive investigation that has unveiled a web of manipulative practices within the exchange. According to a report by South Korean news outlet Chosun Biz, Shin ...
Sixteen individuals accused of kidnapping and stealing cryptocurrency began their trial at the Ho Chi Minh City People's Court on May 10, 2023. The defendants, including Ho Ngoc Tai, Tran Ngoc Hoang, and their associates, allegedly stole approximately $1.5 million worth of cryptocurrency from Le Duc Nguyen. According to local ...
