Scams Financial News

30.06 / 08:43

business regulation Scams Banks Commonwealth Bank of Australia Crypto scams Blockchain Australia CEO calls for unified efforts to stamp out crypto scams

Blockchain Australia’s new CEO, Simon Callaghan, is urging Australia’s banks, the government and the crypto industry to come together to combat rising cryptocurrency scams.

28.06 / 18:49

business Blockchain Scams Lost $7.8B lost in crypto Ponzi and pyramid schemes in 2022: Report

According to a report published by blockchain intelligence firm TRM Labs on June 28, a combined $7.8 billion was paid to cryptocurrency pyramid and Ponzi schemes worldwide in 2022. In addition, another $1.5 billion in crypto was alleged by TRM to have been spent on darknets for illicit activities, while another $3.7 billion in crypto was lost in hacks or exploits.

27.06 / 18:07

Ethereum defi hacks Scams Lost Over $204M was lost in Q2 DeFi hacks and scams: Report

Over $204 million was lost in decentralized finance (DeFi) hacks and scams in the second quarter of 2023, according to a June 27 report from Web3 portfolio app De.Fi.

26.06 / 23:19

Technology Adoption Analysis Scams Opinion Tech Crypto scams Crypto scams are going to ramp up with the rise of AI

With talk about integrating artificial intelligence and the cryptocurrency industry mostly focusing on how AI can help the crypto industry combat scams, experts are failing to pay attention to the fact that it could have the complete opposite effect. In fact, Meta recently warned that hackers appeared to be taking advantage of OpenAI’s ChatGPT in attempts to gain entry into users’ Facebook accounts.

26.06 / 14:03

Blockchain defi Cybersecurity security Scams Breaking down the ongoing token impersonation scams with DeFi execs

Decentralized Finance (DeFi) protocol Tres Finance warned the community about a scam that involves fake tokens designed to mimic legitimate transactions.

26.06 / 13:05

business Adoption Scams crimes Cybercrime Crypto scams How security, education and regulation can mitigate rising crypto scams

Crypto losses to bad actors have significantly increased in the last two years, but cybersecurity experts believe there is no cause for concern, as most new tech is exploited during the early days of its use.

23.06 / 17:05

Blockchain Web3 security Scams Fraud Web3 protection tool releases update that improves security against scam tokens and dangerous contracts

Web3 and other blockchain-powered markets are still in their infancy, with most of the underlying technologies, economic models and coding architectures still being improved, tested and updated. While this is normal for an emerging market and technology, there are always loopholes that bad actors can exploit and target to attack their victims. In particular, with social engineering tactics, scammers manipulate users’ emotions and create a sense of trust and urgency.

21.06 / 05:43

business Apple Scams App Store Trezor Apple removes malicious Trezor app from App Store

An apparent malicious app purporting to be crypto hardware wallet Trezor has been taken off Apple’s App Store, though a quick search has revealed that other copycat apps are still lurking.

18.06 / 06:09

Blockchain Twitter Binance Polygon Scams Kraken Research CZ, Powell and more rally to fund legal fees for on-chain sleuth ZachXBT, surpassing $1M

Well-known crypto executives across the globe have donated to blockchain investigator ZachXBT, aiding in his legal defense against a defamation lawsuit broug by someone he accused of fraud.

16.06 / 22:19

business Blockchain Ethereum defi regulation Scams Fraud On-chain sleuth ZachXBT sued for libel after claiming plaintiff drained funds from project

Blockchain investigator ZachXBT has been sued for libel by one of the people he accused of fraud, according to a June 16 social media post. According to the post, Jeffrey Huang, known as “MachiBigBrother” on Twitter, has accused ZachXBT of damaging his reputation through false allegations.

11.06 / 03:23

Reuters regulation Report Scams identity Customer FTX authorized to 'permanently redact' customer names from all bankruptcy filings

Bankrupt cryptocurrency exchange FTX has been granted permission to remove individual customers from all court filings in its bankruptcy case. However, the names of companies and institutional investors will be sealed for another 90 days.

10.06 / 02:53

Blockchain Hackers hacks Scams phishing Scammers steal nearly $1M after hijacking 8+ prominent crypto twitter accounts

Over the past few weeks, a group of scammers has hijacked more than eight Twitter accounts belonging to prominent figures in the crypto space to promote phishing scams. The group has stolen almost $1 million worth of crypto so far, according to blockchain sleuth ZachXBT.

08.06 / 21:57

regulation SEC security Scams Fraud Gary Gensler: Crypto market is like 1920s stock market, full of 'fraudsters'

In a June 8 speech at the Piper Sandler Global Exchange & Fintech Conference, United States Securities and Exchange Commission (SEC) Chair Gary Gensler compared the current crypto market to the 1920s U.S. stock market, saying that it is full of “hucksters,” “fraudsters,” and “Ponzi schemes.” Just as Congress cleaned up the stock market by enacting securities laws, the current SEC can also clean up the crypto market by applying these laws, he argued.

02.06 / 06:07

defi Cybersecurity security Scams Losses from crypto rug pulls outpaced DeFi exploits in May: Beosin

The amount of cryptocurrency lost to "rug pull" or "exit scams" — where founders suddenly up and leave with investors’ money — had outpaced the amount stolen from decentralized finance (DeFi) projects in May, a blockchain security firm has revealed.

02.06 / 01:49

Altcoin Scams OpenAI CTO's Twitter account hacked, shilling 'scam' airdrop, community warns

The Twitter account of Mita Murati, the chief technology officer of artificial intelligence firm OpenAI, has seemingly been hacked with the latest tweet promoting a "scam" cryptocurrency token.

01.06 / 07:07

NFT Gaming Scams Metaverse Blockchain Game epic Nifty News: Pixel Penguin accused of ‘charity rug,’ Epic adds new NFT games and more…

Nonfungible-token (NFT) project Pixel Penguin has caused a stir this week in what a blockchain investigator ZachXBT has alleged is a “charity project rug.”

31.05 / 13:35

business Adoption wallet Cybersecurity security Scams Bitcoin Wallet Phishing scams crypto phishing Crypto phishing scams: How users can stay protected

In the fast-paced and ever-evolving world of cryptocurrency, where digital assets are exchanged, and fortunes can be made, a lurking danger threatens the safety of both seasoned investors and newcomers alike: crypto phishing scams.

29.05 / 00:25

Binance defi Hackers regulation Scams Insurance Crypto users Turns out, it’s pretty difficult to insure crypto users and platforms

Crypto insurance providers spend enormous amounts of time judging whether to provide coverage to a crypto company, and almost none of them offer assurances to individuals, insurance and crypto executives told Cointelegraph.

26.05 / 22:27

Ethereum NFT hacks Cybersecurity security Scams phishing The Sandbox CEO’s Twitter was hacked, used to promote alleged ‘airdrop’ scam

Arthur Madrid, co-founder and CEO of metaverse project The Sandbox, was the victim of a Twitter account hack on May 26, according to a post from Madrid that was apparently made after he recovered the account. The attacker allegedly used Madrid’s account to promote a fake “airdrop” phishing scam.

26.05 / 15:29

Dogecoin Adoption Scams Shiba Inu memecoin Memecoins: From memes to multibillion-dollar pumps, scams and rug pulls

Memecoins, or meme cryptocurrencies, started as a cultural phenomenon with the launch of Dogecoin (DOGE) in 2013, inspired by an internet meme and a critique of the wild crypto market at the time.

24.05 / 14:05

Blockchain defi Scams exit Project takes off with $31.6M in alleged exit scam

A crypto project called Fintoch, which claimed to be backed by investment banking firm Morgan Stanley, seems to have taken off with almost $32 million of its users' funds, according to on-chain detective, ZachXBT.

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