Tag: Scams

The police force of Israel reportedly recommended to prosecutors that Moshe Hogeg be charged with fraud, theft, money laundering and sex crimes. Police in Israel have reportedly accused entrepreneur Moshe Hogeg of defrauding users out of roughly $290 million through scams involving crypto projects. According to an Aug. 23 report from The Times of Israel,…

CoinsPaid said it is now working with Estonian law enforcement and several blockchain security firms are assisting to minimize the impact of the July 22 exploit. Cryptocurrency payments platform CoinsPaid has pointed the finger at North Korean state-backed Lazarus Group as being behind the hacking of its internal systems, which allowed them to steal $37.3…

Scammers have found a new way to make crypto by luring users into revoking fake approval transactions. Approval management platform Revoke has issued a fix aimed at mitigating a new crypto scam, which involves baiting crypto users into revoking “fake approvals” and then stinging them with excessively high transaction fees. On July 9, Revoke.cash stated…

Illicit activities related to crypto increased across the sector in 2022 despite an overall market downturn. According to a report published by blockchain intelligence firm TRM Labs on June 28, a combined $7.8 billion was paid to cryptocurrency pyramid and Ponzi schemes worldwide in 2022. In addition, another $1.5 billion in crypto was alleged by TRM to…

More than $208.5 million was lost initially, but approximately $4.5 million was recovered, making the total amount of unrecovered funds over $204 million. Over $204 million was lost in decentralized finance (DeFi) hacks and scams in the second quarter of 2023, according to a June 27 report from Web3 portfolio app De.Fi. The report, titled…

The names of FTX’s individual customers will not be revealed to the public in an effort to protect them from potential scams and identity theft. Bankrupt cryptocurrency exchange FTX has reportedly been granted permission to permanently remove individual customers from all court filings, while the names of companies and institutional investors will be sealed on…