Category: Fraud

How do crypto monitoring and blockchain analysis help avoid cryptocurrency fraud?

How do crypto monitoring and blockchain analysis help avoid cryptocurrency fraud?

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SEC investigating NFT market over potential securities violations: Reports

SEC investigating NFT market over potential securities violations: Reports

NFT creators and marketplaces have been targeted by the SEC for conducting illegal activity in a new wave of regulatory action against unregistered securities. 1001 Total views 31 Total shares The U.S. Securities and Exchange Commission (SEC), led by crypto-skeptical Chairman Gary Gensler, is reportedly investigating NFT creators and marketplaces for securities violations, according to […]

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DOJ indicts BitConnect’s Indian founder for $2.4B crypto Ponzi scheme

DOJ indicts BitConnect’s Indian founder for $2.4B crypto Ponzi scheme

The founder of the infamous crypto exchange BitConnect, Satish Kumbhani, has been charged for allegedly misleading investors globally and defrauding them of $2.4 billion in the process. According to the Department of Justice (DOJ), a San Diego-based federal grand jury specifically charged Kumbhani for orchestrating the alleged Ponzi scheme via BitConnect’s “Lending Program”: “BitConnect operated […]

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Chainalysis report finds most NFT wash traders unprofitable

Chainalysis report finds most NFT wash traders unprofitable

Nonfungible tokens (NFT) have taken the world by storm, resulting in mainstream interest and greater adoption of cryptocurrency. According to blockchain analysis firm Chainalysis, NFT popularity skyrocketed in 2021. Chainalysis’ “NFT Market Report” shows a minimum of $44.2 billion worth of cryptocurrency sent to Ethereum smart contracts associated with NFT marketplaces and collections last year. […]

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The biggest crypto heists of all time

The biggest crypto heists of all time

Crypto fraudsters, especially scammers, prey on naive buyers in the physical world by reading the fine print in contracts. Understandably, crypto heists pique the public’s interest. The first consideration is the massive amount of money to be stolen—legacy financial organizations are rarely robbed of such large sums of money. Second, because cryptocurrencies have only lately […]

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NCFTA onboards crypto exchange Binance to fight against cybercrime

NCFTA onboards crypto exchange Binance to fight against cybercrime

By partnering with Binance, the NCFTA aims to tackle international cybersecurity investigations by co-sharing threat intelligence. 1726 Total views 29 Total shares The National Cyber-Forensics and Training Alliance (NCFTA), an American non-profit, onboarded its first crypto firm, Binance, to aid their ongoing battle against cybercrimes.  Founded in 2002, the NCFTA partners with law enforcement and […]

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Pakistan to investigate Binance for multi-million dollar crypto scam

Pakistan to investigate Binance for multi-million dollar crypto scam

The federal agency of Pakistan started a criminal investigation after receiving numerous complaints against an ongoing scam that involved misleading investors into sending funds from Binance wallets to unknown third-party wallets. 10529 Total views 113 Total shares Pakistan‘s Federal Investigation Agency (FIA) reportedly issued a formal notice to crypto exchange Binance in an effort to […]

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