Investors lost over $1 billion in crypto scams last year, FTC says

    In a report released Friday, the Federal Trade Commission (FTC), the enforcer of civil US antitrust law, revealed that the investors had lost over $1 billion in crypto-related scams, which have been growing due to a lack of regulations and proper education on digital assets. Bitcoin, Tether, and Ether become the top cryptos involved in…

    How celebrities and mega-companies impact mainstream crypto adoption

    From crypto industry giants to celebrity endorsements, “mainstream crypto” is more relevant than ever as outsiders join the decentralized movement. Does it help or hurt mainstream crypto when celebrities from outside the space endorse it? – examines Savannah Fortis of Be[In]Crypto. Crypto and the utility of blockchain-based solutions are no longer a fringe for those…

    Popular crypto data sites warn against ongoing MetaMask phishing attacks

    Etherscan, CoinGecko, DeFi Pulse, and many other sites displayed a suspicious pop-up asking users to connect their wallets. Initial indications suggest that malicious code via ads on the affected sites is the vector for the phishing attack. Platforms urged users to “not confirm any transactions” that popped up on its website. Crypto data websites Etherscan,…

    Pakistan investigates $100 million crypto scam

    Pakistan’s Federal Investigation Agency (FIA) has uncovered a cryptocurrency investment scam that allegedly cost Pakistani citizens about 17.7 billion rupees (about $100 million). Over the last month, many people in Pakistan complained to the FIA against at least 11 mobile applications which had stopped working over some time and allegedly defrauded their money. The notice…

    Suspected crypto ‘rug pull’ scam nets $10 million to actors

    Arbix Finance, a yield-farming protocol that runs on Binance Smart Chain, has reportedly siphoned user funds in what blockchain security firm CertiK labeled a “rug pull” following its incident analysis. The developments follow a recent report issued by Chainalysis, the blockchain analytics firm, revealing over $7.7 billion was stolen in crypto scams worldwide in 2021,…

    Amazon Token promos in social media are a scam

    Recently, some social media posts started to claim that Amazon has begun a “presale” of its own crypto tokens. However, the online retail giant officially called them fake, while an internet security firm Avast said that such messages are part of scams targeted to steal money and harvest personal data. For instance, a Facebook post…