Scams Financial News

20.05 / 02:03

Blockchain DEX Scams Arbitrum Rug Pull Customer $3M worth of customer funds swiped via alleged Swaprum DEX rug pull

Arbitrum-based decentralized exchange (DEX) Swaprum has allegedly conducted a rug-pull on its users, with $3 million worth of customer deposits being swiped from the platform.

19.05 / 17:19

Ethereum Adoption NFT defi Polygon Scams phishing 'Inferno Drainer' scam as a service has stolen $5.9M since March: Report

A new scam as a service called “Inferno Drainer” has reportedly stolen nearly $6 million from unsuspecting crypto users, according to Web3 scam detecting firm Scam Sniffer. Inferno Drainer reportedly advertises that it provides ready-to-go code to scammers, allowing them to steal crypto in exchange for a 20% cut of the scammer’s crypto "loot".

18.05 / 09:37

business Scams Bitcoin Australian Australian ‘Big 4’ bank begins trial for cryptocurrency payment blocks

Westpac, one of Australia’s ’Big Four’ banks, is launching its first trial of scam protection measures designed to combat fraudulent activities related to cryptocurrencies.

16.05 / 19:47

Blockchain Technology Adoption Scams Fraud Tech Bitcoin Crypto scams Can you recover stolen Bitcoin from crypto scams?

The process of recovering stolen Bitcoin (BTC) from cryptocurrency scams is difficult and complex. The prevalence of cryptocurrencies has led to an increase in scams and other fraudulent practices that prey on the gullible. Numerous people have suffered significant financial losses as a result of falling for different crypto scams, such as phishing, rug pulls and hacker attacks.

15.05 / 12:21

business Scams ChatGPT Irish newspaper apologizes for misleading AI-generated article

An Irish daily newspaper apologized to its readers after it unknowingly published an article by a guest writer who had used artificial intelligence (AI) to pen the piece and their identity.

11.05 / 13:59

Altcoin Tokens Scams Pepe memecoin frenzy gets unwanted attention from scammers

As the hype surrounding the PEPE memecoin intensifies, bad actors within the space have started to take notice, resulting in various scam attempts plaguing the crypto space.

11.05 / 02:05

business Scams Kraken YouTube Bitcoin Scams Scammer To catch a scammer: Kraken builds fake crypto account to ‘bait’ fraudsters

United States crypto exchange Kraken has provided a novel method for flagging nefarious wallets — building a fake crypto account on the exchange to “scam bait” bad actors.

05.05 / 03:33

defi wallet Altcoin security Scams Decentralized Exchange Smart Contracts Rugpull blockchain security firm Blockchain security firm freezes $160K stolen in Merlin DEX 'rugpull'

Smart contract auditor CertiK claims to have blocked $160,000 from Merlin, a zk-Sync-based decentralized exchange (DEX) which has been the center of a rogue insider "rugpull" that lost users $1.8 million last week.

04.05 / 11:15

defi Altcoin Scams Reddit Rug Pull WallStreetBets mod dumps memecoin worth $635K in alleged rug pull

A moderator of the popular trading subreddit r/WallStreetBets has dumped a large portion of the WSB Coin (WSB), a token project that claims to be the official memecoin of Wall Street Bets.

04.05 / 02:01

business Facebook Adoption security Scams ChatGPT and AI the newest vector for malware: Meta security team

Artificial intelligence tools, such as ChatGPT, have become the latest way for “bad actors” to distribute malware, scams and spam — research from Meta’s security team warns.

03.05 / 07:49

Technology Adoption regulation Scams crimes UK government Cold Calls UK government targets fraudsters with new ban on cold calls for crypto

The United Kingdom is set to ban cold calls that sell financial products, including insurance and cryptocurrencies, in an attempt to crack down on fraud. It is estimated that fraud costs the country approximately £7 billion ($8.7 billion) annually.

01.05 / 05:05

defi hacks Cybersecurity Scams Crypto scams Lost April’s crypto scams, exploits and hacks lead to $103M lost — CertiK

Crypto exploits, exit scams, and flash loan attacks saw little signs of letting up in April, with more than $103 million of funds stolen from crypto projects and investors in the month.

29.04 / 08:51

business Scams Tencent Cloud to reportedly offer deepfake creation tool at $145

Tencent Cloud — the cloud services provider arm of Chinese tech giant Tencent — has launched a new digital human production platform allowing users to create deepfakes of any individual based on a three-minute video clip and 100 sentences of voice material.

28.04 / 13:11

Adoption NFT Tokens Scams South America NOT Not funny: Comedy club NFT debacle teaches lesson in transparency

In Venezuela, humor plays an important role, either as a form of protest or a way to make sense of reality.

27.04 / 09:23

Blockchain defi Scams crimes Cybercrime phishing google ads crypto phishing Google Ads data: $4M stolen through crypto phishing URLs

Data from Google Ads coupled with blockchain analytics reveals that over $4 million has been stolen from users that have fallen for malicious phishing websites promoted on Google.

27.04 / 03:59

Blockchain Twitter wallet Scams data One crypto wallet launched 114 dodgy memecoins in two months

Crypto scammers are ramping up the launch of spurious memecoins over the past two months, according to crypto sleuths.

21.04 / 03:45

regulation Trading Scams Crypto firms alleged to have faked execs using AI and actors: Cali regulator

A number of firms claiming to offer artificial intelligence (AI) assisted crypto trading services have been hit with allegations of being “fraudulent investment schemes” by a California financial regulator, with two accused of using actors and AI to impersonate CEOs.

18.04 / 02:33

regulation Investments Scams cryptocurrency investment Bitcoin Scams Press Release Crypto scams Lost Australian Australian Crypto Australian crypto scams increased by over 162% with nearly $150M lost

Australians lost $148.3 million (AUD$221.3 million) from investment scams where cryptocurrency was used as the payment method in 2022 — a 162.4% increase from 2021.

05.04 / 03:35

business regulation Trading Scams Multiple US state regulators allege AI trading dApp is a Ponzi scheme

Securities regulators from Montana, Texas, and Alabama have jointly filed enforcement actions against cryptocurrency trading platform YieldTrust.ai alleging it is “perpetrating a Ponzi scheme.”

31.03 / 20:21

Hackers hacks regulation Scams Decentralized Exchange Net losses from crypto theft down sharply in Q1 2023 at $322M: Report

Crypto hackers and scammers made off with $452 million in the first quarter of 2023, according to a report released by antivirus and app provider De.Fi. But that is good and bad news, as losses were down from $1.3 billion in the first quarter of 2022. The recovery rate was down too, however.

31.03 / 17:27

Technology NFT Scams Fraud Tech Tech Analysis play AI has a role to play in detecting fake NFTs

Beyond all the good a permissionless internet promises, it also makes it convenient for anyone to freely mint pirated nonfungible tokens (NFTs). There are in fact over 90 million fake copies of NFTs. Because in a permissionless system, what’s to stop bad actors from creating copymints to scam unsuspecting users or damage a brand’s reputation?

frequently asked questions about Scams

What is Scams and why is it gaining attention?

Scams is a high-demand area that interests a wide audience. On our site, we regularly publish articles related to this subject.

Where can I find the latest updates on Scams?

All latest articles about Scams can be found in the dedicated section. We publish information regularly.

How can I verify the accuracy of information on Scams?

We consult with professionals to ensure that the information about Scams is reliable and informative for our readers.