Coinbase’s director of product strategy and business operations, Conor Grogan, revealed that billions of dollars worth of Ether had been permanently lost due to bugs and human errors. The director noted that mistakes and glitches were the cause of losing 636,000 ETH or $1.15 billion on the Ethereum blockchain. Gone With No Recovery According to…
The senior promoters – Chairez, Milan, and Aguilar – alongside the co-founder – Rodriquez – were found to be guilty of committing fraud. A while ago, they pleaded guilty to their illicit activities, however, the other CEO, Dos Santos, pled 2 years ago in October. There were 6 people who took part in the Ponzi…
‘Cryptoqueen’ May Have Died Long Ago One of the world’s highly notorious crypto Ponzi schemes was ‘Onecoin’ which was primarily founded by Ruja Ignatova. Once it was revealed that Onecoin was a crypto pyramid scheme that looted billions from investors, Ignatova disappeared with all the money. It was about four years ago in 2018 when…
The chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, recently said that it is not as difficult to identify a crypto scam as it may sound. Earlier this month, he spoke during a Twitter Space to the US Army with SEC Commissioner Caroline Crenshaw. They talked about the dangers associated with crypto…
On Monday, the FBI announced that it had concluded that Lazarus Group, the North Korean organization, had been involved in the Harmony Protocol hack of $100 million last June. On January 13th, about $60 million worth of Ethereum that had been stolen in the hack six months earlier was laundered. The hackers This allowed the…
SEC Initiates Enforcement Action against Fraudulent Crypto Investment Scheme In 2018, a crypto scheme called “Coindeal” surfaced which was originally launched by a person named Neil Chandran. Amongst the promoters of the scheme were notable individuals Linda Knott, Garry Davidson, and Michael Glaspie. The scheme was found to be nothing but a fraud i.e. another…
FastRefundGroup Review As more and more people are making their way to the internet, there is a much larger focus on improving the user experience. However, with this increased rate at which new people are starting to use the internet, there has been an increase in the number of scams that have spread as a…
Last week, federal authorities arrested the founder of Mutant Ape Planet, Aurelien Michel. The NFT collection founder was accused of operating a scam scheme known as ‘NFT rug pull’. However, it appears that may have been just one of the numerous scams that Michel may have pulled off. Allegations On Friday, ZachXBT, a prominent blockchain…
Just a few days back, Defrost Finance, one of the prominent trading platforms in the decentralized finance industry, faced a major exploit. As a result of the exploit, the company ended up losing $12 million, which was a huge loss for the company. The exploit took place a few days prior to Christmas. It has…
The sudden collapse of FTX cast doubt among exchange users over their fund’s security held in custodial wallets. The revelation by Bahamas authorities of FTX Group filing for bankruptcy last week caused a widespread shockwave across the virtual assets market. The aftershocks of the sudden implosion of a key player in the global crypto assets…
As technology continues to advance, the issue of cybersecurity becomes more crucial for companies. This is due to increased fraud and data theft going on the internet. As a result, the CEO of PolySwarm firm, Steve Bassi, has called on firms to embrace blockchain technology for improved cybersecurity. PolySwarm’s CEO Highlights The Need For Blockchain …
Reports suggest Monero is the favorite currency for ransomware groups. The recent CipherTrace study highlights the growing ransomware trends within the cryptocurrency market. Monero: The New Ransomware Darling CipherTrace study noted an increasing pattern in the latest ransomware attacks. Analysts observed most actors use privacy tokens such as XMR. Groups prefer using these currencies to…
Anybody who has spent even a small amount of time in the crypto trading landscape would know that hacks are a common part of it. When the first crypto coin became available, nobody thought that hacks would be as prevalent as they became later on. Sure, people did have some reservations initially, but they were…
YouTube and a variety of applications owned by Google have been facing a variety of issues as of late. One of the most prevalent problems people have encountered is that there are plenty of crypto related scams present on these platforms. A large number of researchers recently came across issues on YouTube and even the…
These days, more and more celebrity influencers are starring in cryptocurrency advertisements. From Paris Hilton to Kim Kardashian, cryptocurrency developers are using their large fanbases to build trust. However, it’s very dangerous that celebrities, who aren’t experts in investments, are making crypto seem cool. After all, it’s unlikely that their massive followings have an understanding…
PayBack Ltd Review PayBack Ltd is an experienced funds recovery firm that has been providing its services for more than a decade now. It is famous in the market for its recovery method and remarkable winning percentage. Read this piece of writing thoroughly because, in this PayBack Ltd review, I will tell you about the…
One of Russian Government’s website belonging to a local administrative entity was hacked recently by crypto hackers who not only trolled the victim and even offered free Bitcoins to the website visitors. However, as of today, the control of the website has been taken back but the Russian Government is annoyed and has been taking…
Martin Mhlanga of Zimbabwe was suspected of launching a Bitcoin Ponzi scheme in the country under the “Cryptoshares”. However, though his disguise was busted before the local police could get him, he vanished from the scene and took away with him US$ 6 Million approximately which he had collected from the Bitcoin fraud scheme. Similarly,…
For the Eastern Europe region, crypto scammers do not have to do much, as they are easily targeted and fell into the trap quite easily. This is so true because Chainalysis report suggests that Eastern Europe tops in sending crypto funds to malicious addresses out of the region which mostly belongs to the scammers. The…
After the notorious crypto scam of MTI, the other mega crypto scam allegedly that happened in South Africa is that of Africrypt. Millions of dollars’ worth of virtual assets have been lost purportedly to crypto criminals who managed to breach Africrypt’s protocols. While Africrypt’s owners, i.e. Ameer and Raees Cajee, are claiming that their firm…
