Scams Financial News

26.07 / 05:01

CFTC regulation Scams Ponzi scheme CFTC charges Tennessee couple over 'Blessings of God Thru Crypto’ scheme

A Tennessee husband and wife are facing charges over “Blessings of God Thru Crypto” — an allegedly fraudulent investment scheme that swindled at least $6 million from over 100 victims in just six months.

24.07 / 22:07

Ethereum defi Hackers hacks Developers Scams Cross-Chain Standard Exploit Connext, Alchemix launch cross-chain token standard to reduce bridge exploit losses

The Connext cross-chain bridging protocol has announced a new token standard to reduce losses from bridge hacks. According to a July 24 announcement, the new “xERC-20” standard allows token issuers to maintain a list of official bridges and control how many tokens can be minted by each.

21.07 / 10:45

Blockchain Web3 security Scams Poisoning Countering address poisoning: This browser extension offers users protection

Crypto scams are evolving by the minute to trick a large pool of non-tech-savvy users who are unfamiliar with the intricacies of the blockchain world. Even more experienced users may fall into the scammers’ trap, but browser extension Web3 Antivirus has designed an all-around protection service for Web3 users.

21.07 / 08:33

Government Hackers regulation Scams us government Agency US state agency issues alert on crypto fraud happening over social media

The Vermont Department of Financial Regulation (DFR), a United States state agency, warned citizens against rising crypto investment frauds perpetrated over popular social media sites.

21.07 / 06:19

business regulation Scams crimes Police Canadian police warn crypto investors on growing home robbery trend

A Canadian police department has issued a public warning of a possible trend where high-value cryptocurrency investors are being robbed in their own homes.

20.07 / 21:29

business Twitter Social Media Scams Uniswap Hackers compromise Uniswap founder's Twitter account to promote scam

Members of Crypto Twitter have quickly identified and warned others against a scam being pushed by Uniswap founder Hayden Adams’ compromised account.

18.07 / 06:21

business Twitter Social Media Scams Bot Threads copies Twitter again, introduces ‘rate limits’ to combat bots

Mark Zuckerberg’s Twitter alternative, Instagram Threads, has been forced to implement rate limits in response to a growing number of reports citing spam attacks and crypto-shilling bots.

17.07 / 07:57

defi Altcoin Scams Tornado Cash memecoin Rug Pull AnubisDAO's 13.5K ETH rug pull money washes away on Tornado Cash

Nearly two years after the dog-inspired decentralized finance (DeFi) project — AnubisDAO — was rug-pulled for almost $60 million in Ether (ETH), the stolen funds were siphoned away using Tornado Cash.

14.07 / 18:49

Blockchain Ethereum defi Hackers hacks Scams Shuts Down Multichain Crypto lender Geist Finance shuts down permanently over Multichain hack

Lending protocol Geist Finance is shutting down permanently due to losses from the Multichain exploit, according to a July 14 social media post from the app’s development team. Geist contracts were paused on July 6, then resumed in “withdraw and repay only” mode on July 9. The latest post confirms the team does not plan to reopen lending and borrowing on Geist.

14.07 / 07:55

business Hackers hacks Ripple XRP Altcoin Scams Ripple CTO warns against XRP scams amid SEC-induced hype

A court ruling in favor of Ripple Labs — stating that XRP (XRP) is not a security — reignited the long-lost hype around the ecosystem. Anticipating an influx of scams as the token rallied, Ripple chief technology officer David Schwartz issued a warning to investors.

12.07 / 15:29

business Blockchain Adoption Hackers regulation Scams Crypto scams Exploit Crypto scams are down 77% — but this exploit is making a huge comeback

Cryptocurrency scams have fallen a massive 77% from $3.3 billion to $1.1 billion over the first six months of 2023, according to a recent report by blockchain intelligence firm Chainalysis.

11.07 / 20:49

Blockchain Ethereum defi hacks Scams Multichain Multichain Executor has been ‘draining’ AnySwap tokens: Report

A person is using the Multichain Executor to drain tokens associated with the AnySwap bridging protocol, according to a July 10 report from on-chain sleuth and Twitter user Spreek. The report follows outflows of over $100 million from Multichain bridges that occurred on July 7, which were reported by the Multichain team as “abnormal.”

11.07 / 00:31

defi Hackers hacks Scams phishing Pink, Pussy, Venom, Inferno — Drainers coming for a crypto wallet near you

Four major crypto drainers have emerged to fill the vacuum left by the notorious wallet sweeper Monkey Drainer, with thousands of victims targeted and millions in crypto stolen already this year.

10.07 / 06:35

defi wallet Scams transactions Revoke adds new feature after users complain of fake approvals scam

Approval management platform Revoke has issued a fix aimed at mitigating a new crypto scam, which involves baiting crypto users into revoking “fake approvals” and then stinging them with excessively high transaction fees.

10.07 / 03:21

Twitter defi Scams Meta phishing 'Scammers' impersonate Crypto Twitter users on Threads as users near 100M

Scammers appear to have wasted no time since the launch of Meta’s new microblogging app — with several high-profile Crypto Twitter users already warning of imposter accounts on Threads.

08.07 / 09:57

Law NFT Scams Court investigation Rug Pull ZachXBT’s research cited in Canadian NFT rug pull class-action lawsuit

The investigative work of independent blockchain sleuth ZachXBT has been cited in a class-action lawsuit in Canada against Boneheads, an alleged $3.1 million nonfungible token (NFT) rug pull.

07.07 / 22:43

business coinbase Cybersecurity Scams Coinbase domain name reportedly used by scammers in high-profile attacks

Update (July 7 at 9:33 PM UTC): This article has been updated to include Coinbase's response.

06.07 / 12:39

business MasterCard Scams Fraud Banks Mastercard AI-powered tool to help banks fight fraud

Mastercard has launched a new artificial intelligence (AI)-power tool which is aimed at helping banks fight payment fraud and scams in real-time prior to any monetary exploits.

05.07 / 19:17

cryptocurrency Crime Scams Fraud Bitcoin Calgary Calgary police warn of cryptocurrency scam involving officer impersonations

Calgary police are warning the public about a cryptocurrency scam that involves scammers who are posing as officers.

05.07 / 13:21

Altcoin Liquidity Scams Rug Pull Crypto developer commits $2M rug pull fraud to fuel gambling addiction

According to a Reddit post, a developer has posted an unusual farewell note, apologizing and blaming his online gambling woes after leaving a project in shambles, turning a $2 million valuation into $20,000 within minutes.

03.07 / 14:15

defi hacks Scams Smart Contracts Arbitrum Rug Pull Chibi Finance $1M alleged rug pull: How it happened

On June 26, decentralized finance (DeFi) aggregator Chibi Finance was exploited by its own deployer account, and $1 million worth of cryptocurrency was drained from its contracts in an apparent rug pull or exit scam. The protocol’s official user interface disappeared, producing a 404 error, and all social media for the app was taken down. After the funds were drained, they were swapped for Wrapped Ether (WETH) and bridged to Ethereum, where they were afterward sent to Tornado Cash by the attacker.

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