Crypto Scams

Former energy company Enron holds its place in history as one of the largest accounting scandals in U.S. history. A social media account claiming to be the energy company is teasing a comeback on the 23rd anniversary of the company's bankruptcy. What Happened: Anyone around the financial markets...

Carly Rowena, a fitness influencer from the UK, fell victim to a cryptocurrency scam, losing £5,700 ($7,450). She recounted her ordeal, aiming to educate others on avoiding similar pitfalls. What Happened: Rowena was deceived into transferring her crypto assets to an Instagram account she...

In a dramatic turn of events, an attacker returned the entirety of funds stolen from a cryptocurrency whale in just a week. What Happened: According to on-chain tracking platform, Lookonchain, the whale lost more than $70 million in Wrapped BItcoin (CRYPTO: WBTC) to a phisher who tricked them into...

An investigation into copyright violations by the German state of Saxony led to the uncovering of 50,000 Bitcoin (CRYPTO: BTC) acquired using the proceeds of pirated works. What Happened: German authorities announced the seizure of almost 50,000 Bitcoins equivalent to around $2.1 billion after...

JP Morgan Chase & Co (NYSE: JPM), the prominent banking institution, decided to halt cryptocurrency-related transactions for its U.K. clientele starting Oct. 16, according to a recent communication to its users. The bank stated, "If we think you're making a payment related to...

Bankrupt crypto firm Voyager Digital Holdings Inc. has reportedly been targeted by hackers during its reopening phase. The platform was reopened for a 30-day period to allow customers to withdraw their remaining assets as part of a court-supervised liquidation process. During this period,...

National Australia Bank Ltd. (OTC: NABZY) has imposed restrictions on certain payments to crypto exchanges deemed as "high-risk," citing concerns over scams. This move aligns the bank with other major Australian firms that have also limited access to digital asset platforms due to similar...

A comprehensive plan to fight fraud has been launched by U.K. Prime Minister Rishi Sunak, with a focus on cold calls being made to sell financial items, including cryptocurrencies. Fraud costs the U.K. almost £7 billion annually and today makes up over 40% of all crimes. The new...

The cryptocurrency market, with its immense potential for profit, has attracted a surge of interest from investors worldwide. It also opened up opportunities for scammers to prey on unsuspecting investors. The following article will guide you on how to protect yourself from falling victim to scams...

Despite the ongoing market downturn in the cryptocurrency industry, illicit cryptocurrency transaction volume has risen for the second consecutive year, reaching an all-time high of $20.6 billion in 2022, according to a report by blockchain analytics firm Chainalysis. The estimate is a lower bound...

Ethereum (CRYPTO: ETH)  co-founder Vitalik Buterin has suggested that the cryptocurrency community should concentrate on the technology and applications rather than the prices of cryptocurrencies. What Happened: On Sunday, CoinMamba, a self-proclaimed crypto investor said on Twitter, "...

The crypto industry is still reeling under the aftermath of the collapse of crypto exchange FTX. But outside of FTX, cryptocurrency theft is rampant, especially in the UK, where it increased by a third in one year. Thieves stole hundreds of millions of pounds from victims, according to police...

The total scam revenue in 2022 currently stands at $1.6 billion, 65% less than it was through the end of July 2021, as a result of falling exchange rates for various cryptocurrencies, a new report has revealed. Scams declined in line with the fall in Bitcoin's (CRYPTO: BTC) price According to...

“Pharma Bro” Martin Shkreli has been accused of selling over 160 billion Martin Shkreli Inu (CRYPTO: MSI) tokens, sending the price down 95% in just over 24 hours. What Happened: Shkreli launched the Ethereum (CRYPTO: ETH)-based MSI token tied to his...

Crypto exchange Binance’s “Red Alarm” platform has identified 50 crypto projects as potential scams or rug pulls. What Happened: In July alone, the Red Alarm system analyzed 3,300 contracts and identified several projects that carry extremely high levels of risk,...