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US District Attorney Indicts Three for Laundering Millions With Bitcoin

US District Attorney Indicts Three for Laundering Millions With Bitcoin

The Manhattan district attorney has indicted a group of individuals with allegedly selling drugs and laundering millions of dollars with bitcoin (BTC). The development was announced in a press release published on April 16. Manhattan District Attorney Cyrus R. Vance, Jr., the United States Secret Service, the U.S. Postal Inspection Service (USPIS), and U.S. Homeland Security Investigations (HSI) have indicted…

US Justice Dept. Convicts Two Romanians of Cybercrimes Including Cryptojacking

US Justice Dept. Convicts Two Romanians of Cybercrimes Including Cryptojacking

A federal jury has convicted two Romanian alleged cybercriminals of spreading malware to steal credit card credentials and illicitly mine cryptocurrency, an announcement from the official website of the United States Department of Justice revealed on April 11. The malware allegedly spread by the suspects was reportedly used for cryptojacking and to steal credit card and other data that the…

Singapore Police Secure First Convictions Against OneCoin MLM Scheme Agents

Singapore Police Secure First Convictions Against OneCoin MLM Scheme Agents

Singapore authorities have charged two men for promoting cryptocurrency multi-level marketing (MLM) scheme OneCoin in the first case of its kind for the city state, local daily news outlet Business Times reported on April 10. The two men, who were not named, reportedly engaged in activities involving incorporating a subsidiary to promote OneCoin, as well as signing up new members…

Financial Watchdog Receives Petition Against Crypto Exchange Over Account Closures

Financial Watchdog Receives Petition Against Crypto Exchange Over Account Closures

Estonia-based crypto firm Paxful Inc. has been accused of defrauding thousands of Nigerian investors out of millions of dollars worth of cryptocurrencies through allegedly arbitrary account closures. The news was reported by local media agency Punch on April 7. According to the report, the Nigerian non-profit organization United Global Resolve for Peace (UGRP) filed a petition on April 2 with…

Artificial Intelligence Helps South Korea Police End $18 Million Crypto Ponzi Scheme

Artificial Intelligence Helps South Korea Police End $18 Million Crypto Ponzi Scheme

South Korean police have arrested suspects behind a cryptocurrency ponzi scheme using artificial intelligence (AI), local English-language news outlet Korea Joongang Daily reported on April 8. The scheme, which reportedly stole a total of 21.2 billion won ($18.3 million) over a six-month period in 2018, came to an end after the Seoul Special Judicial Police Bureau for Public Safety trained…

YouTube Reportedly Runs Malicious Ad for Bitcoin Wallet Electrum by Accident

YouTube Reportedly Runs Malicious Ad for Bitcoin Wallet Electrum by Accident

Video-sharing platform YouTube purportedly ran a malicious advertisement for Bitcoin (BTC) wallet Electrum by mistake, according to a Reddit post published on March 26. Viewers interested in the advertisement were redirected to a malicious link using a common scamming method called typosquatting or URL hijacking. In the Reddit post, a user named mrsxeplatypus warned the public about the promotion of…

Alleged CabbageTech Crypto Fraudster Indicted on Nine Counts

Alleged CabbageTech Crypto Fraudster Indicted on Nine Counts

United States Attorney for the Eastern District of New York Richard P. Donoghue unsealed a nine-count indictment against Patrick McDonnell today, according to a press release from the Department of Justice (DoJ) on March 26. Following his arrest earlier today, McDonnell — the owner and operators of purported investment firm CabbageTech — was charged with nine counts of wire fraud…

Analysts Claim CoinBene Transactions, Recent Activity ‘Consistent’ With Exchange Hack

Analysts Claim CoinBene Transactions, Recent Activity ‘Consistent’ With Exchange Hack

Data scientists at blockchain infrastructure firm Elementus have published details of recent transactions from crypto exchange CoinBene that they consider to be suspect, beginning with $105 million in crypto swiftly being moved out of the exchange’s hot wallet. The findings, reportedly based on data sourced using the Elementus Query Engine, were published on March 27. Elementus also provides independently verifiable raw…