Due to the pandemic’s implications for the labor market, there has been a significant rise in job fraud. False job postings promise flexible hours, the liberty to work from home, and compensation that is far higher than the average for the sector—all while requiring little or no qualifications. Fake Recruiters’ Procedure Typically, scammers use social […]
Beware of the siren call of play-to-earn games, dear crypto enthusiasts, because the FBI has sounded the alarm on this latest scheme to steal your hard-earned funds. According to the bureau, criminals are introducing users to play-to-earn games only to use malware to extract the funds from their wallets. Luring Victims to Play-to-Earn Games Don’t […]
Cryptocurrency scams have been a recurring topic in the crypto community and have been the source of much agony and loss of confidence. These scams can take different forms, making it easy for many unsuspecting people to fall victim. Two Types of Scams Broadly speaking, there are two primary categories of scams: Attempts to gain […]
As regulators move to regulate the cryptocurrency space around the world, the US House Committee on Oversight and Reform recently sent letters to four US federal agencies and five cryptocurrency exchanges as it moves to crack down on cryptocurrency-based scams and other vices. The four federal agencies that received a letter from the committee on […]
The Federal Bureau of Investigation (FBI) published a new episode on its “Inside the FBI” podcast series last week termed “Ten Most Wanted Fugitive Ruja Ignatova.” Popularly called the “Crypto Queen,” Ignatova was a co-founder and key player of the Onecoin scam, one of the biggest scams in cryptocurrency history. The FBI podcast discusses news, […]
On-chain analytics data provider Chainalysis reported some interesting developments in the cryptocurrency market with its mid-year crypto crime update, termed “Illicit Activity Falls With Rest of Market, With Some Notable Exceptions,” published on August 16. Chainalysis wrote in the report: “Illicit volumes are down just 15% year over year, compared to 36% for legitimate volumes.” […]
Rug pull scams in the cryptocurrency space have become a growing problem, fueling distrust in many crypto enthusiasts on new crypto projects or offerings. Findings from the Chainalysis Crypto Crime report 2022 showed that a whopping $2.8 billion was lost to rug pull scams in 2021, accounting for 36.3% of all crypto scams that year. […]
Infamous Onecoin Ponzi scheme promoter Ruja Ignatova aka “Cryptoqueen” has landed on the Federal Bureau of Investigations (FBI)’s Ten Most Wanted Fugitives list for allegedly defrauding victims out of a whopping $4 billion. The pyramid scheme promoted Onecoin as a blockchain project with a native cryptocurrency that had the potential to unseat Bitcoin and the […]
The US Federal Trade Commission (FTC) recently revealed that over 46,000 people fell victim to numerous cryptocurrency scams since the beginning of 2021, resulting in the loss of over $1 billion to bad actors. This was according to the FTC “Data Spotlight” publication on Friday. According to its website, the FTC is the only federal […]
