Fraud Financial News

27.06 / 18:07

Hack Fraud CeFi Overtakes DeFi and Surges to 70% of Total Crypto Losses in Q2, $572 Million Stolen Overall

The second quarter of this year saw quite a significant shift: centralized finance (CeFi) was the main target of successful exploits – with 70% of the total losses. This is according to the latest report by the major bug bounty and security services platform Immunefi.

30.07 / 16:54

Hack Fraud Crypto Ecosystem Lost $269M to Hackers in July, 87% Stolen in Single CeFi Hack

In July 2024, the crypto ecosystem lost nearly $269.5 million in 14 specific hacking incidents, according to the latest report by major bug bounty and security services platform Immunefi.

19.07 / 23:29

Digital Man Platform Fraud reports Courts AAX Mastermind Arrested, Faces Court Over Alleged $26 Million Fraud

The mastermind behind the collapse of the digital currency platform AAX has been arrested after evading authorities for 20 months.

21.06 / 16:45

Fraud Crypto exchanges Crypto Crime Man Jailed 2 Years for Identity Fraud in Crypto Exchange Sign-Ups

An Australian man received a two-year prison sentence for cyber-enabled identity fraud, involving the creation of online cryptocurrency accounts using counterfeit documents.

20.06 / 10:33

Ethereum CEO Fraud Bitcoin reports Scandals Delio S. Korean Crypto Firm Delio Plans Debt Transfer Amid $180M Embezzlement Scandal

The South Korean virtual asset deposit services company Delio announces to establish a new corporation to transfer debt as it faces embezzlement charges.

07.06 / 11:57

NFT Fraud New York Court Charges Three UK-Nationals Linked to ‘Evolved Apes’ NFT Rugpull

The United States Attorney for the Southern District of New York, has charges three UK-nationals, for their involvement wire fraud and money laundering, linked to the “Evolved Apes” non-fungible token (NFT) scam.

06.06 / 08:43

Blockchain Fraud students reports Courts Colleges China’s First Crypto Fraud Criminal Case Sparks Controversy

A college student in China has been sentenced to over four years in prison for a crypto fraud related to the issuance and withdrawal of a self-created token.

31.05 / 10:25

Provident Fraud Deutsche Bank Justice 2020 Department Broker Former Deutsche Bank Employee and Registered Broker Sentenced to 41 Months for Crypto Fraud

Former Deutsche Bank employee and FINRA registered broker, Rashawn Russell, aged 28, has been sentenced to 41 months in prison for wire fraud and crypto fraud scheme that saw investors lose $1.5 million.

24.05 / 07:13

MET SEC security Fraud testing Courts Court Rules Influencer Ian Balina Violated Securities Laws Promoting SPRK Tokens

A U.S. district court has found crypto influencer Ian Balina guilty of violating U.S. securities laws.

18.05 / 07:11

cryptocurrency wallet Exchange Fraud Money Bank Fraud, crypto & wallet: A virtual hold for a real crime

money robbed in a cyber attack and laundered are parked in cryptos, the idea of a 'designated official wallet' to hold and ring fence crypto currencies bought with the proceeds of crime has cropped up. Soon after a transaction by a scammer or the use of a mule account to purchase cryptos is tracked, the virtual digital assets (VDAs) can be moved to the proposed special account which would be under the control of a law enforcement agency (LEA).

02.05 / 12:33

Hack security Fraud Web3 Lost Over $53 Million to Hackers in April 2024, $401 Million YTD – Immunefi

In April 2024, Web3 saw a loss of over $53 million to hackers across 21 incidents, a 46% decrease when compared with the previous period, found the latest report by the crypto-focused bug bounty platform Immunefi.

01.05 / 05:23

Fraud Bitcoin Cash Early Bitcoin Investor Roger Ver Arrested for Tax Fraud

Roger Ver, an early investor in Bitcoin-related startups known as “Bitcoin Jesus” has been arrested in Spain and charged with tax fraud.

29.02 / 14:45

Hack defi Fraud Web3 Lost Over $200 Million to Hackers in Two Months of 2024, More to Come – Immunefi

In the first two months of 2024, hacks across the Web3 space cost over $200 million, according to the latest report by Immunefi, the blockchain cybersecurity platform protecting over $60 billion in assets. In February, the losses amounted to nearly $70 million.

27.02 / 18:15

Fraud Fraud Conviction of ‘My Big Coin’ Founder Randall Crater Upheld on Appeal

A US appeals court has upheld the prior sentencing of “My Big Coin” fraud founder Russell Crater.

26.01 / 23:05

BLOCK Citizens Fraud Justice reports Courts rights Estonia Renews U.S. Extradition of Crypto Businessmen Accused of $575 Million Ponzi Scheme: Report

The Estonian government has decided to renew the United States extradition of two alleged fraudsters accused of running a $575 million scheme, Estonian Public Broadcasting reports.

22.01 / 09:21

markets Platform security Fraud DOJ International Crypto Firm USI Tech Founder Horst Jicha Arrested for Alleged $150 Million Fraud

Horst Jicha, the founder of crypto firm USI Tech, has been arrested and charged by U.S. authorities for his involvement in an alleged $150 million international fraud scheme.

02.01 / 12:04

regulation Fraud fines financial conduct authority FCA doubles cancellations of non-compliant firms

Enforcement investigations conducted during the year have resulted in fines totalling £52,802,900.

28.12 / 14:36

Hack security Fraud Record Losses in Web3 May Be Coming as Crypto Prices Rise – Immunefi

Major bug bounty and security services platform Immunefi published a report detailing the loss of funds due to hacks and fraud in the Web3 ecosystem this year – and what might await in the next.

20.12 / 05:14

FIVE Man CEO Fraud President South Korean Supreme Court Jails $153m Crypto Fraudster for 10 Years

South Korea’s Supreme Court has jailed a crypto fraudster who amassed $153 million for 10 years, upholding a sentence handed out in February.

17.12 / 11:07

Hack wallet security Fraud Safety Are Hackers Two Steps Ahead of Security in a Cat-and-Mouse Game? Experts Answer

Talking with Cryptonews, Raz Niv, co-founder and CTO at the Web3 security company Blockaid, and Kate Kurbanova, co-founder of risk management firm Apostro, discussed the evolution and high adaptability of crypto thieves, the “ingenious” methods attackers employ to empty our crypto wallets, what we can do to protect our own money, and steps to take if we do fall victim to theft.

14.12 / 14:57

NFT Sport Gaming Non-fungible tokens Fraud P2E Immutable Features chess play Cheating Rampant in Blockchain Chess, Leading to Shutdown of Immortal Game’s Play-to-Earn Features

The management team of the blockchain chess game Immortal Game has decided to kill off its non-fungible tokens (NFT) play-to-earn (P2E) features. The reason: widespread cheating.

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