South Korea is widening its scam-refund system to include eligible crypto losses from voice-phishing, a pragmatic move that recognizes how fast fraud can move from a phone call to an irreversible blockchain transfer. The catch: this is a narrow fix, not a blanket payout for every crypto blunder.
Read Full Article
U.S. Sanctions Target North Korea’s $800 Million Crypto Fraud Fueling Weapons Programs The U.S. Treasury Department has launched a fierce crackdown on a North Korean operation that siphoned nearly $800 million in 2024 through cryptocurrency networks to fund nuclear weapons and ballistic missile programs. This audacious scheme, blending IT worker fraud with cyberheists, exposes the […]
Read Full Article
Ex-LASD Deputy Pleads Guilty in Conspiracy Tied to Crypto Fraudster Adam “Crypto Godfather” Iza A former Los Angeles County Sheriff’s Department (LASD) deputy has confessed to a jaw-dropping conspiracy that merges cryptocurrency fraud with raw law enforcement corruption. Coberg, once a helicopter pilot for the LASD, pleaded guilty to federal conspiracy charges linked to Adam […]
Read Full Article
Startup CEO Jeremy Jordan-Jones Charged in $1 Million Crypto Fraud Scandal The US Attorney for the Southern District of New York, working with the FBI and SEC, has charged Jeremy Jordan-Jones, CEO of Amalgam Capital Ventures, with defrauding investors out of $1 million. This case serves as a stark warning amidst the cryptocurrency market’s growth, […]
Read Full Article
Celsius Founder Faces Up to 30 Years for $4.7B Crypto Fraud, DOJ Says Alex Mashinsky, the founder of Celsius Network, faces up to 30 years in prison for orchestrating a $4.7 billion cryptocurrency fraud scheme, according to the U.S. Department of Justice. This case underscores the urgent need for regulatory oversight in the cryptocurrency industry. […]
Read Full Article
Hugh Austin Sentenced to 18 Years for $12m Crypto Scam Hugh Austin sentenced to 18 years for $12m crypto scam Over two dozen victims affected Funds misused for personal luxury Son, Brandon Austin, also sentenced Eugene William Austin Jr., better known as “Hugh Austin,” has been sentenced to 18 years in prison for orchestrating a […]
Read Full Article
Brazilian National Faces 20-Year Sentence for $290 Million Bitcoin Ponzi Scheme From the sunny beaches of Brazil to the courtrooms of Seattle, Douver T. Braga’s journey from crypto kingpin to accused fraudster is a stark reminder of the dark side of digital currency. Brazilian national extradited for running $290 million Bitcoin Ponzi scheme. Trade Coin […]
Read Full Article
HashFlare Founders Admit Guilt in $577 Million Crypto Ponzi Scheme Sergei Potapenko and Ivan Turõgin, the masterminds behind HashFlare, have confessed to orchestrating a colossal $577 million Ponzi scheme that has left hundreds of thousands of investors worldwide feeling the sting of betrayal. From their base in Estonia, these 40-year-old entrepreneurs sold fraudulent crypto mining […]
Read Full Article
Malaysian Accountant Falls Prey to Bitcoin Scam, Loses Half a Million A 61-year-old Malaysian accountant has fallen victim to a cunning Bitcoin scam, losing a jaw-dropping RM460,888 (around half a million). Seduced by the allure of high returns, she invested in a fraudulent platform called PFOU, only to uncover the grim reality of cryptocurrency fraud. […]
Read Full Article
Chainalysis Acquires AI Startup Alterya for $150M to Combat Cryptocurrency Fraud Chainalysis, a leading blockchain analytics firm, has made a strategic acquisition of Alterya, an AI-powered fraud detection startup, for $150 million. This move bolsters Chainalysis’s capabilities in thwarting illicit transactions at a time when the crypto industry faces sophisticated scams fueled by generative AI. […]
Read Full Article