Tag: fraud

Nearly 10,000 tokens launched on BNB and Ethereum last year are suspected to have been created just to dump on investors, according to Chainalysis. Cryptocurrency investors funneled as much as $4.6 billion into crypto tokens suspected to be part of “pump and dump” schemes in 2022. A Feb. 16 report from blockchain analytics firm Chainalysis “analyzed all…

A report suggests companies are able to register in the U.K. very easily, making them appear more credible to potential scam victims. The United Kingdom is host to at least 168 companies accused of running fraudulent crypto or foreign exchange (forex) scams, according to an independent analysis. A joint investigation by media firms the Bureau of Investigative…

Randall Crater was ordered to pay back the millions lost by victims of his fraudulent crypto scheme and spend 100 months in jail followed by a three-year supervised release. Founder of “My Big Coin” Randall Crater has been sentenced to 100 months in prison and ordered to pay over $7.6 million to the victims of…

One reason is that “hackers have gotten smarter, gained more experience, and learned how to look for bugs,” according to the founder of a crypto auditing firm. Decentralized finance (DeFi) investors should buckle themselves up for another big year of exploits and attacks as new projects enter the market and hackers become more sophisticated. Executives…

Revelations that Bankman-Fried secretly funded crypto news publisher The Block deepened mistrust of the crypto industry, notes Christopher Robbins on CoinDesk. The law is catching up with Sam Bankman-Fried (SBF), co-founder and former CEO of collapsed crypto exchange FTX. The whole situation has led to a loss of trust in the cryptocurrency industry, which needs…

Over $400 million outflow crypto exchange FTX and Alameda wallets on Nov. 11. FTX confirmed that there was “unauthorized access” to crypto it is holding following a reported hack. However, Reuters reported that FTX CEO Sam Bankman-Fried built a “backdoor” to his exchange in an effort to change financial records and move funds. Crypto exchange…