IIT Kanpur Designing Tool to Assist UP Police Crack Crypto Scams

With the rise of the crypto culture in India, the number of scams plaguing the sector have also seen an escalation in recent times. In a bid to help police officials stay ahead of crypto scammers, the Kanpur campus of the Indian Institute of Technology (IIT) has decided to step in. A team from IIT-K […]

Crypto Trader Loses $6,50,000 In 2 Seconds, Explains How It Happened

The hackers stole information from Domenic Lacovone’s iCloud backup. (Representative) A crypto trader has revealed that he lost a whopping $6,50,000 (Rs 4.97 crore) after scammers hacked his iCloud account. And all it took was two seconds. The trader Domenic Lacovone revealed the scam on Twitter. He said it all began with a phone call […]

‘Frosties’ NFT Series Creators Arrested in US Over ‘Rug Pull’ Scam

US prosecutors have charged two men with money laundering and fraud with their NFT series called ‘Frosties’. Ethan Nguyen and Andre Llacuna pocketed $1.1 million (roughly Rs. 8 crore) before abandoning their NFT project and leaving buyers high and dry in terms of promised benefits. Such instances come under the ‘rug pull’ scam category where […]

Brother-Sister Charged With Crypto Fraud Worth $124 Million in US

The US Securities and Exchange Commission (SEC) has charged siblings John and JonAtina Barksdale with fraud for misleading investors through false claims in a cryptocurrency scheme. The SEC has filed charges against the pair for allegedly “defrauding thousands of retail investors out of more than $124 million (roughly Rs. 950 crore) through two unregistered fraudulent […]

UK is Investigating 50 Crypto Firms Over Rise in Scams

UK’s financial watchdog, the Financial Conduct Authority (FCA) claims to have 50 active investigations into cryptocurrency business operators, which also includes criminal probes. The regulator also revealed that within a period of six months, up until September 2021, it investigated 300 cases related to unregulated crypto asset businesses while adding that a number of those […]

BitConnect Founder Indicted for Running $2.4-Billion Ponzi Scheme

The US Department of Justice has indicted Satish Kumbhani, the founder of defunct cryptocurrency platform BitConnect, for “orchestrating” a global crypto Ponzi scheme worth $2.4 billion (roughly Rs. 18,110 crore). Kumbhani, 36, has also been charged with conspiracy to commit wire fraud and price manipulation as well as operation of an unlicenced money transmitting business […]

North Korea Stole Funds From Crypto Exchanges to Fund Weapon Tests: UN

North Korea has continued to develop its nuclear and ballistic missile programmes over the past year and cyberattacks on cryptocurrency exchanges appear to have been an important revenue source for the country, according to an excerpt of a United Nations report that cites cybersecurity professionals. Investigators found that cyberattacks stole digital assets worth more than […]

Binance CEO Warns Users of an Ongoing SMS Phishing Scam

The CEO of Binance, one the world’s largest cryptocurrency exchange platform, Changpeng Zao has warned its users against a massive SMS phishing scam. Zao noted that users were receiving an SMS message looking to harvest credentials by redirecting unsuspecting users to a malicious website. Zhao, who put out a series of tweets to alert users […]

Ozzy Osbourne NFT Scam: Fake Link Dupes Investors

Amid escalating sales of non-fungible tokens (NFTs), British heavy metal legend Ozzy Osbourne recently forayed into the NFT sector with his CryptoBatz collection, which comprises a series of 9,666 digital bats designed after Osbourne’s persona. Just two days after Osbourne’s digital collectibles opened for sale, people complained about a potential phishing scam linked to CryptoBatz. […]

Millions of Indians Are Swarming to Scam Crypto Websites: Report

In 2021, cryptocurrencies witnessed a massive expansion in several parts of the world, including India. Around 100 million Indians are reportedly experimenting with the crypto space at a time when the government is still deliberating its official stance on cryptocurrencies. Impacted by a lack of research and awareness, many crypto-enthusiastic Indians are finding their ways […]

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