Thomas John Sfraga pleaded guilty to wire fraud charges Thomas John Sfraga, a well-known cryptocurrency personality, has pleaded guilty to wire fraud charges after deceiving more than a dozen victims into investing in fraudulent ventures, including fictitious cryptocurrency schemes. According to a statement from the United States Department of Justice (DOJ) on May 17, Sfraga […]
Gold Coast - Fraud Charges - Crypto Currency Investment Detectives from the Financial and Cyber Crime Group Money Laundering Unit have charged four individuals in connection with an alleged 'boiler room' investment fraud operation on the Gold Coast. Operation Uniform Tapenade, which began in July 2022, targeted fraudulent activities involving cold call investment schemes, including […]
Duo Sentenced for Stealing £5.7 Million in Global Cryptocurrency Fraud Introduction: Two men, Jake Lee and James Heppel, have been sentenced to prison for their involvement in a sophisticated cryptocurrency scam that defrauded victims worldwide of over £5.7 million. The pair, who replicated a well-known cryptocurrency exchange website to access victims' Bitcoin wallets, were identified […]
Binance's Key Contribution to Unveiling a Significant Crypto-Assisted Money Laundering Operation in Taiwan Introduction: In a groundbreaking collaboration, Binance, a leading cryptocurrency exchange, played a crucial role in dismantling a major crypto-assisted money laundering operation in Taiwan. This case, involving nearly NT$200 million (approximately US$6 million), showcases the power of public-private partnerships in combating financial […]
Durham couple's experience with the Bitcoin investment scam A Durham couple lost over $70,000 in a Bitcoin investment scam that unfolded over six months. Pamela Mangum, seeking to fund home improvements and a new car, was enticed by social media posts from a relative about Bitcoin mining profits. Trusting the opportunity, she invested $3,500, which […]
Crackdown on $73 Million Pig Butchering Crypto Scam Leads to Arrests Introduction: In a major crackdown on cryptocurrency fraud, U.S. authorities have arrested two Chinese nationals involved in a complex money laundering scheme known as 'pig butchering.' This operation defrauded victims of at least $73 million. The arrested individuals, Daren Li and Yicheng Zhang, face […]
Key Takeaway The Cambodian crypto scam incident involving Indian workers highlights the rise of online job scams targeting desperate jobseekers in India, indicating the need for better employment opportunities and stricter action against fraudulent recruiters. Summary
Binance Develops 'Antidote' to Combat Address Poisoning Scams Following $68M Exploit Binance has introduced an algorithm to detect and prevent address poisoning scams, which involve fraudsters sending small amounts of digital assets to a wallet address similar to the victim's to trick them into sending funds to the fraudulent address. The algorithm identifies suspicious transfers, […]
Crypto Scams to Look Out for on May 17, 2024: Important Information to Keep in Mind TLDR This article covers the latest major crypto scams as of May 17, 2024, including a $25 million Ethereum fraud by brothers James Pepaire-Bueno and Anton Pepaire-Bueno and a $30 million Ponzi scheme by Aiden Pleterski, the "Crypto King," […]
Is Tether a massive scam? Is Tether a $48 billion scam? For those who follow the Tether story, there’s been a recent development worth mentioning: the publication of an audit of Tether reserves by a third-party. The statement is available for download on their front page. Tether does have a page with a statement of […]
