crypto scam

A donor to the Trump-Vance Inaugural Committee was reportedly defrauded of $250,300 in cryptocurrency. The FBI has recovered $40,300 of the stolen amount, which is now involved in a civil forfeiture case. What Happened: The victim received an email on Christmas Eve 2024, which appeared to be...

The cryptocurrency landscape is experiencing an unprecedented surge in token creation, with January 2024 marking a new high of over 600,000 new tokens launched in a single month. This record-breaking figure, highlighted by CoinGecko co-founder and COO Bobby Ong, is raising concerns about market...

Shytoshi Kusama, the pseudonymous lead of the Shiba Inu (CRYPTO: SHIB) ecosystem, on Thursday, distanced themselves from the controversial meme coin launched by influencer Haliey Welch of the “Hawk Tuah” fame. What Happened: Kusama came to X to clear the air over...

Former bank CEO from Kansas, Shan Hanes, has been sentenced to 24 years in prison for his involvement in a $47.1 million crypto scam related to pig butchering. What Happened: Hanes, the former CEO of Heartland Tri-State Bank, was convicted of embezzlement. He diverted the bank’...

In a recent development, two individuals have been detained by law enforcement on suspicions of running an unauthorized cryptocurrency exchange. The platform is alleged to have facilitated trades exceeding £1 billion ($1.26 billion) in cryptocurrency. What Happened: The suspects, aged 38 and 44,...

In February, crypto phishers managed to steal a staggering $47 million, primarily through fake accounts on Elon Musk‘s social media platform X. These scams, related to Bitcoin, Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), and other cryptocurrencies, resulted in over 57,000 victims...

The U.S. witnessed a staggering 53% increase in losses from cryptocurrency investment scams in 2023, reaching a total of $3.94 billion, according to a recent report by the Federal Bureau of Investigation (FBI). What Happened: The FBI’s Internet Crime Report 2023 revealed that the total losses...

The CEO of an investment firm has been handed a two-year prison term by United States authorities for his role in a fraudulent cryptocurrency scheme.  What Happened: Peter Kambolin, the executive of Systematic Alpha Management, was found guilty of conducting a “cherry-picking” scam...

American venture capitalist Tim Draper alerted crypto users to the rise of scammers employing artificial intelligence (AI) voice generators.  What Happened: Draper, with a following of approximately 254,000 on X, formerly Twitter, advised his followers to remain vigilant against “thieves...

Karl Sebastian Greenwood, co-founder of the infamous OneCoin cryptocurrency, has been sentenced to 20 years in prison for his role in orchestrating one of the largest cryptocurrency fraud schemes in history. The fraudulent operation, which began in 2014 and was based in Sofia, Bulgaria, deceived...

On Friday, a $25 million cryptocurrency scam surfaced on Elon Musk‘s X, formerly Twitter, posing a serious threat to users. What Happened: An account masquerading as Grayscale Investment targeted users with a promise of $25 million worth of a new token called GBTC – ...

Israel's National Cyber Crime Unit has unveiled a large-scale scam involving deceptive software. This software reportedly aided major crime groups, both within Israel and internationally, in swindling crypto enthusiasts of substantial amounts. This revelation, which underscores the pressing...

In a shocking case that unfolded in New Jersey, John Michael Musbach has been sentenced to six and a half years in prison for engaging in explicit exchanges with a 13-year-old and attempting to hire a hitman using 40 Bitcoin (CRYPTO: BTC) to murder the teen before they could testify against him in...

A divorced woman lost her entire 401(k) savings of $100,000 to a crypto scammer she met on Tinder, according to reports.  What Happened: Rebecca Holloway, 42, fell for a “pig butchering” scheme designed to target lonely people.  The scheme involves a months-long process of “...

A Brooklyn-based federal court indicted Aurelien Michel for allegedly swindling users of the "Mutant Ape Planet" non-fungible token (NFT) project of $2.9 million.  What Happened: Michel is accused of assuring purchasers that their NFTs would gain greater worth, plus incentive rewards...