Fraud Financial News

27.12 / 14:01

FIVE Platform Fraud Jail Top South Korean Scam Crypto Exchange Exec Given 8-year Jail Sentence

The top executive at a South Korean scam crypto exchange that duped over 50,000 investors out of a combined $1.7 billion will serve an eight-year jail sentence after a court found him guilty of fraud.

27.12 / 04:57

Adoption Scams Fraud interview Robocallers have upped their scam game and they’re after your crypto

Professional scam organizations are targeting cryptocurrency users following the collapse of FTX, initiating millions of automated calls and text messages in an attempt to swindle information and funds.

24.12 / 01:03

business Fraud 2 executives of crypto exchange AAX arrested in Hong Kong: Report

Hong Kong police arrested two executives of the crypto exchange AAX accused of fraud and misleading the police, according to local media reports.

21.12 / 18:27

Fraud Police Dating App Crypto Scammers Strike Again as Catfished Japanese Man Loses $90k

Crypto scammers are ramping up their catfishing campaigns on East Asian dating apps, with another Japanese man falling victim to fraudsters. The man lost “more than $90,000” to a “foreign woman” – who has since vanished.

19.12 / 05:13

Report Scams Fraud ERC-20 350 new 'scam tokens' were created every day this year: Solidus Labs

More than 350 fraudulent cryptocurrency tokens were created per day this year, defrauding millions of investors, according to blockchain risk monitoring firm Solidus Labs.

18.12 / 05:13

cryptocurrency Fraud FTX Fried Sam Extradition Sam Bankman-Fried to reverse decision on contesting extradition

Former FTX Chief Executive Sam Bankman-Fried is expected to appear in court in the Bahamas on Monday to reverse his decision to contest extradition to the United States, where he faces fraud charges, a person familiar with the matter said on Saturday.

15.12 / 07:23

regulation Fraud Police Court Fried Sam co-CEO FTX Bahamas co-CEO Ryan Salame blew the whistle on FTX and Sam Bankman-Fried

According to Bahamian court records filed on Dec. 14, Ryan Salame, the former co-CEO of FTX Digital Markets told the Securities Commission of the Bahamas (SCB) on Nov. 9 that FTX was sending customer funds to its sister trading firm Alameda Research.

14.12 / 00:11

Law regulation Fraud FTX 'You can commit fraud in shorts and T-shirts in the sun,' says SDNY attorney on SBF indictment

Damian Williams, United States Attorney for the Southern District of New York, said the investigation leading to charges against former FTX CEO Sam Bankman-Fried had been “very, very fast” but prosecutors were “not done” with arrests.

13.12 / 09:15

business Fraud FTX Congress Hours before his arrest, SBF denied being part of ‘Wirefraud’ chat group

Merely hours before news of his arrest by Bahamian police, Sam Bankman-Fried took to Twitter denying his involvement or knowledge of a secret group chat named “Wirefraud” — which allegedly involved former FTX and Alameda ranking executives.

12.12 / 17:43

Fraud Police French Police Catch ‘Crypto Scammers’ Who Lured Victims with ‘Suitcases’ of ‘Cash’

Source: Maksym Dykha/Adobe

08.12 / 06:39

business hacks Analysis Fraud FTX hires forensics team to find customers’ missing billions: Report

The new management for bankrupt crypto exchange FTX has reportedly hired a team of financial forensic investigators to track down the billions of dollars worth of missing customer crypto.

06.12 / 15:37

defi Fraud Bankruptcy Bitcoin Michael Saylor on the FTX fiasco: 'Unethical and illegal from the very beginning'

In a recent interview Michael Saylor, the MicroStrategy executive chairman and major Bitcoin (BTC) bull, shared his perspective on the fall of the FTX empire.

04.12 / 12:11

business Fraud Donations Media Elections elon Elon Musk alleges SBF donated over $1B to Democrats: "Where did it go?"

The attempts of mainstream media to water down the frauds committed by FTX CEO Sam Bankman-Fried (SBF) did not fare well in convincing the crypto community and entrepreneurs. Instead, the misinformation campaign collided with Tesla CEO Elon Musk’s drive to position Twitter as "the most accurate source of information."

02.12 / 22:37

Blockchain Twitter Scams Fraud Crypto community weighs in on SBF’s ‘apology tour’

The former CEO of FTX, Sam “SBF” Bankman-Fried, has seemingly begun to embark on an apology tour to redeem his image a month after the sudden implosion of FTX, which revealed that the exchange had been improperly using customer and investor funds.

02.12 / 08:55

business regulation Fraud FTX Jail Fried Mike Novogratz: Bankman-Fried is 'delusional' and headed to jail

Former FTX CEO Sam Bankman-Fried (SBF) has been lambasted this week following a series of controversial public appearances, with Galaxy Digital’s Mike Novogratz one of the latest to dish out a lashing to the former kingpin of crypto.

29.11 / 23:49

Blockchain Scams Fraud Bitcoin FTX hacker reportedly transfers a portion of stolen funds to OKX after using Bitcoin mixer

Hackers who drained FTX and FTX USA of over $450 million worth of assets just moments after the doomed crypto exchange filed for bankruptcy on Nov. 11, continue to move assets around in an attempt to launder the money.

28.11 / 10:09

business Twitter Fraud Bankruptcy Three Arrow’s Su Zhu reveals latest attempts at a comeback post-FTX

Three Arrows Capital co-founder Su Zhu looks like he may be attempting a comeback amid the fallout over FTX and Sam Bankman-Fried — seen by some as the crypto industry’s newest supervillain.

20.11 / 11:03

business regulation Fraud Bankruptcy Bankrupt crypto Bankrupt crypto exchange FTX begins strategic review of global assets

As part of the recent bankruptcy filing, the defunct crypto exchange FTX, along with 101 of the 130 affiliated companies, announced the launch of a strategic review of their global assets. The review is an attempt to maximize recoverable value for stakeholders.

18.11 / 07:17

defi Scams Fraud identity Crypto scammers are using black market identities to avoid detection: CertiK

Crypto scammers have been accessing a “cheap and easy” black market of individuals willing to put their name and face on fraudulent projects — all for the low price of $8, blockchain security firm CertiK has uncovered.

16.11 / 21:35

business Stablecoin Fraud Terraform Labs audit Terra Labs, Luna Guard commission audit to defend against allegations of misusing funds

The Luna Foundation Guard (LFG) and Terraform Labs (TFL) commissioned a technical audit of their efforts to defend the price of TerraUSD (UST) between May 8 and 12, 2022. The audit was intended to answer “allegations posed in social media” about the fate of funds transferred during efforts to defend the UST dollar peg, according to the LFG blog.

14.11 / 17:35

UPS Citi Fraud South Korean Stablecoin Fraudster Aged-60+ Jailed for Six Years

Crypto fraud continues to escalate in South Korea – where a scammer aged over 60 has been given a six-year jail term for duping victims into investing in a sham stablecoin.

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