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Over $700 million vanished because scammers played on the same emotions they always do fear, excitement and the pressure to act fast
#scams
A fake link, a convincing message, a promise that feels just believable enough and it’s gone
#scams
A fake link, a convincing message, a promise that feels just believable enough and it’s gone
Over $700 million vanished because scammers played on the same emotions they always do fear, excitement and the pressure to act fast
#scams
A fake link, a convincing message, a promise that feels just believable enough and it’s gone
$BTC
#TrumpCancelsEUTariffThreat #CPIWatch
#scams
A fake link, a convincing message, a promise that feels just believable enough and it’s gone
$BTC
#TrumpCancelsEUTariffThreat #CPIWatch
🚨Protect Your Binance Account: 4 Easy Steps to Stay Safe from Hacks, Scams, Freezes & Bans 🚀🛡️
Your Binance account holds your hard-earned crypto, so keeping it safe is super important. Many beginners lose funds because of simple mistakes like clicking fake links, using weak passwords, or joining risky promotions. Scammers, hackers, and even account freezes from suspicious activity can happen fast. But good news: you can protect yourself with easy habits. Here are the main reasons problems happen and 4 simple steps to fix them forever.
Why accounts get hacked, spammed, frozen, or banned?
Hackers use phishing (fake emails/websites pretending to be Binance) to steal your login.
Scams come from fake giveaways, "double your money" promotions, or third-party tools/bots promising easy profits.
Freezes or bans often happen from suspicious transfers (like scam money), using multiple accounts, incomplete KYC, or breaking rules with unauthorized bots/VPNs in restricted areas.
Third-party apps or promotions usually lead to trouble because they can steal your info or link you to illegal activity without you knowing.
Follow these easy 4 steps to stay protected (do them today!):
1. Enable strong security basics right now 🔒
Create a unique, long password (use a password manager if possible).
Turn on 2FA using Google Authenticator app (not SMS, as it's less safe).
Add Binance's anti-phishing code in settings – it shows a special word in real emails so you spot fakes easily.
This stops most login hacks and phishing attacks instantly.
2. Be smart with logins and devices 📱💻
Never click links in emails, messages, or social media claiming to be Binance – always type generallink.top yourself.
Use only the official Binance app from Google Play or App Store.
Keep your phone/computer updated with antivirus and avoid public Wi-Fi for trading.
Enable withdrawal address whitelisting (in security settings) so money can only go to your trusted addresses.
3. Say NO to risky third-party stuff and promotions 🚫
Avoid any "free crypto," giveaways, or third-party bots/tools promising high returns – most are scams.
Do not share your account, API keys, or private info with anyone.
Skip promotions from unknown people on Telegram, Twitter, or WhatsApp.
Stick to official Binance features only – if it sounds too good to be true, it is!
4. Complete KYC and watch your activity regularly 👀
Finish full identity verification (KYC) to unlock higher limits and avoid sudden freezes.
Check your login history and devices in security settings often.
If something looks weird (unknown logins or transfers), contact Binance support immediately through the official app/site.
Report suspicious messages to help everyone stay safe.
Follow these 4 steps and your account becomes much harder to hack or freeze. Stay calm, double-check everything, and trade safely. Your crypto future depends on these simple habits! 💪 If you ever see a warning from Binance, stop and verify before acting. Happy and secure trading! 🌟 @Binance BiBi #scams #BinanceScamAlert #WriteToEarnUpgrade
Why accounts get hacked, spammed, frozen, or banned?
Hackers use phishing (fake emails/websites pretending to be Binance) to steal your login.
Scams come from fake giveaways, "double your money" promotions, or third-party tools/bots promising easy profits.
Freezes or bans often happen from suspicious transfers (like scam money), using multiple accounts, incomplete KYC, or breaking rules with unauthorized bots/VPNs in restricted areas.
Third-party apps or promotions usually lead to trouble because they can steal your info or link you to illegal activity without you knowing.
Follow these easy 4 steps to stay protected (do them today!):
1. Enable strong security basics right now 🔒
Create a unique, long password (use a password manager if possible).
Turn on 2FA using Google Authenticator app (not SMS, as it's less safe).
Add Binance's anti-phishing code in settings – it shows a special word in real emails so you spot fakes easily.
This stops most login hacks and phishing attacks instantly.
2. Be smart with logins and devices 📱💻
Never click links in emails, messages, or social media claiming to be Binance – always type generallink.top yourself.
Use only the official Binance app from Google Play or App Store.
Keep your phone/computer updated with antivirus and avoid public Wi-Fi for trading.
Enable withdrawal address whitelisting (in security settings) so money can only go to your trusted addresses.
3. Say NO to risky third-party stuff and promotions 🚫
Avoid any "free crypto," giveaways, or third-party bots/tools promising high returns – most are scams.
Do not share your account, API keys, or private info with anyone.
Skip promotions from unknown people on Telegram, Twitter, or WhatsApp.
Stick to official Binance features only – if it sounds too good to be true, it is!
4. Complete KYC and watch your activity regularly 👀
Finish full identity verification (KYC) to unlock higher limits and avoid sudden freezes.
Check your login history and devices in security settings often.
If something looks weird (unknown logins or transfers), contact Binance support immediately through the official app/site.
Report suspicious messages to help everyone stay safe.
Follow these 4 steps and your account becomes much harder to hack or freeze. Stay calm, double-check everything, and trade safely. Your crypto future depends on these simple habits! 💪 If you ever see a warning from Binance, stop and verify before acting. Happy and secure trading! 🌟 @Binance BiBi #scams #BinanceScamAlert #WriteToEarnUpgrade
🚨 URGENT: Impersonation SCAMS up by 1,400%!!!!
Impersonation scams exploded 1400% in 2025. Not because crypto is broken. But because crypto is winning attention.
Scammers are no longer sending sloppy messages. They are pretending to be exchanges. Support teams. Trusted brands. Even real people you follow. And AI made them sharper, faster, and more convincing than ever. One fake Coinbase message alone drained nearly $16,000,000 . Not from newbies. From regular users caught at the wrong moment.
Here is the real signal though. This only happens where value lives. Fraud always follows adoption. Email went through this. Credit cards did too. Crypto is just hitting that phase. The industry is already responding. Better detection. Smarter wallets. Faster law enforcement coordination. The defenses are leveling up as fast as the threats.
The future of crypto is not fear. It is maturity. Cleaner systems. Less trust. More verification. And users who know the game. Scammers are getting louder because crypto is getting bigger. And big systems always learn to protect themselves! #Scamalert #Scams #Scam #CryptoMarketNews #CryptoMarketWatch
Impersonation scams exploded 1400% in 2025. Not because crypto is broken. But because crypto is winning attention.
Scammers are no longer sending sloppy messages. They are pretending to be exchanges. Support teams. Trusted brands. Even real people you follow. And AI made them sharper, faster, and more convincing than ever. One fake Coinbase message alone drained nearly $16,000,000 . Not from newbies. From regular users caught at the wrong moment.
Here is the real signal though. This only happens where value lives. Fraud always follows adoption. Email went through this. Credit cards did too. Crypto is just hitting that phase. The industry is already responding. Better detection. Smarter wallets. Faster law enforcement coordination. The defenses are leveling up as fast as the threats.
The future of crypto is not fear. It is maturity. Cleaner systems. Less trust. More verification. And users who know the game. Scammers are getting louder because crypto is getting bigger. And big systems always learn to protect themselves! #Scamalert #Scams #Scam #CryptoMarketNews #CryptoMarketWatch
30 MILLION TOKENS. 99% SCAMS? $BTC
The crypto market is exploding. 29.91 million coins exist. 1.57 million new tokens launched in 30 days. Nearly 360k arrived last week. Coin creation is faster than ever. Low tech barriers mean anyone can launch a token. Most are for quick pumps or vanity projects. These tokens often crash, lose liquidity, or get abandoned. New traders hunting for gems in this mess face massive losses. Is your portfolio protected from this flood of garbage?
This is for informational purposes only and not investment advice.
#Crypto #Altcoins #Scams #Trading 🚨
The crypto market is exploding. 29.91 million coins exist. 1.57 million new tokens launched in 30 days. Nearly 360k arrived last week. Coin creation is faster than ever. Low tech barriers mean anyone can launch a token. Most are for quick pumps or vanity projects. These tokens often crash, lose liquidity, or get abandoned. New traders hunting for gems in this mess face massive losses. Is your portfolio protected from this flood of garbage?
This is for informational purposes only and not investment advice.
#Crypto #Altcoins #Scams #Trading 🚨
$4 BILLION GONE. SCAM SEASON IS HERE.
BlockBeats News, January 13th. 2025 saw a catastrophic surge in crypto theft. Over $4.04 billion vanished. Systemic flaws and cunning social engineering are the culprits. Losses from hacks jumped 24.2% to $2.67 billion. Fraud soared 64.2% to $1.37 billion. Only a fraction was recovered. This is your wake-up call. Protect your assets NOW. The danger is real.
Disclaimer: Not financial advice.
#CryptoSecurity #Scams #FOMO #ProtectYourCrypto 🚨
BlockBeats News, January 13th. 2025 saw a catastrophic surge in crypto theft. Over $4.04 billion vanished. Systemic flaws and cunning social engineering are the culprits. Losses from hacks jumped 24.2% to $2.67 billion. Fraud soared 64.2% to $1.37 billion. Only a fraction was recovered. This is your wake-up call. Protect your assets NOW. The danger is real.
Disclaimer: Not financial advice.
#CryptoSecurity #Scams #FOMO #ProtectYourCrypto 🚨
The Ultimate Guide to Spotting Crypto Scams! 🔍🚨
🚫 Don’t get REKT! The crypto space is full of scams—here’s how to spot and avoid them:
❌ Too-Good-To-Be-True Returns – If a project promises “1000% guaranteed profits”, RUN!
👻 Anonymous Teams – No team info? 🚩 That’s a red flag.
💼 No Clear Use Case – If the project has no real purpose, it’s probably a pump-and-dump.
🔗 Suspicious Smart Contracts – Use tools like BscScan & Etherscan to check legitimacy.
📢 Fake Social Proof – Beware of paid influencers hyping a scam!
🚀 Pro Tip: Always DYOR (Do Your Own Research) and use Binance for secure trading!
Have you ever encountered a crypto scam? Share your story! 👇
#Crypto #scams #SecurityFirst #dyor #Binance
🚫 Don’t get REKT! The crypto space is full of scams—here’s how to spot and avoid them:
❌ Too-Good-To-Be-True Returns – If a project promises “1000% guaranteed profits”, RUN!
👻 Anonymous Teams – No team info? 🚩 That’s a red flag.
💼 No Clear Use Case – If the project has no real purpose, it’s probably a pump-and-dump.
🔗 Suspicious Smart Contracts – Use tools like BscScan & Etherscan to check legitimacy.
📢 Fake Social Proof – Beware of paid influencers hyping a scam!
🚀 Pro Tip: Always DYOR (Do Your Own Research) and use Binance for secure trading!
Have you ever encountered a crypto scam? Share your story! 👇
#Crypto #scams #SecurityFirst #dyor #Binance
Protect your Cryptographic Assets, I teach you to prevent them from being stolen when receiving an email
I think #Binance 's initiative to educate and alert the community about deceptive activities with its "Scam Risk Warning" campaign is excellent; and at the same time reward with $FDUSD totally free only for leaving testimonials to be a cautious operator
In my case I will tell you several experiences throughout this campaign, and currently I bring you the most common one that happens to me as a Content Creator (YouTuber).
When I started this path of recording videos, promoting projects, etc. Upload educational things, I began to receive countless emails with job offers and collaboration, sadly one time it happened that I opened an email and it brought an attached file, the pay was attractive... So I opened the email and downloaded a file that was to install a game .
In my case I will tell you several experiences throughout this campaign, and currently I bring you the most common one that happens to me as a Content Creator (YouTuber).
When I started this path of recording videos, promoting projects, etc. Upload educational things, I began to receive countless emails with job offers and collaboration, sadly one time it happened that I opened an email and it brought an attached file, the pay was attractive... So I opened the email and downloaded a file that was to install a game .
Ripple CEO Claims No Wallets Compromised in Recent Cyberattack💁
Earlier today, Ripple experienced a significant cyberattack resulting in the loss of 112.5 million dollars' worth of XRP coins. Following the incident, the news caused a 4% decrease in the price of XRP tokens.
ZachXBT stated that the initial attack was linked to an address labeled "rJNLz3…ojm". Following the Ripple attack, the perpetrators initiated a sophisticated laundering process, transferring the stolen XRP to various exchanges, including MEXC and Binance, the world's largest exchange by volume. These distribution methods are designed to conceal the cryptocurrency's origin, making tracking and recovery more challenging.
Cautionary Notice Released😳
It is clear that hackers are continually developing new tactics for their illicit operations. Recently, a deepfake video depicting Ripple's CEO sent shockwaves throughout the cryptocurrency market.
Hackers utilized a fabricated video, which did not feature Garlinghouse but was created to deceive viewers, in order to trick people into sending funds to their addresses under the false pretense that their XRP holdings would be doubled.
Deceptive schemes are advancing regularly, and it would be prudent for investors and traders to exercise vigilance in light of these developments.$BTC $XRP $SOL #xrp #BTC #hackers #scams #TradeNTell
Earlier today, Ripple experienced a significant cyberattack resulting in the loss of 112.5 million dollars' worth of XRP coins. Following the incident, the news caused a 4% decrease in the price of XRP tokens.
ZachXBT stated that the initial attack was linked to an address labeled "rJNLz3…ojm". Following the Ripple attack, the perpetrators initiated a sophisticated laundering process, transferring the stolen XRP to various exchanges, including MEXC and Binance, the world's largest exchange by volume. These distribution methods are designed to conceal the cryptocurrency's origin, making tracking and recovery more challenging.
Cautionary Notice Released😳
It is clear that hackers are continually developing new tactics for their illicit operations. Recently, a deepfake video depicting Ripple's CEO sent shockwaves throughout the cryptocurrency market.
Hackers utilized a fabricated video, which did not feature Garlinghouse but was created to deceive viewers, in order to trick people into sending funds to their addresses under the false pretense that their XRP holdings would be doubled.
Deceptive schemes are advancing regularly, and it would be prudent for investors and traders to exercise vigilance in light of these developments.$BTC $XRP $SOL #xrp #BTC #hackers #scams #TradeNTell
‘#Scam of all #scams ’: Crypto dev claims Trump-linked WLFI ‘stole’ his money
A crypto developer says Trump-linked crypto project WLFI froze his tokens and refused to unlock them, calling it “the new age mafia.”
A crypto developer has accused World Liberty Financial (WLFI), a crypto project with ties to US President Donald Trump, of stealing his funds by refusing to unlock his tokens.
In a Saturday post on X, Polygon DevRel Bruno Skvorc shared an email from WLFI’s compliance team, which flagged his wallet address as “high risk” due to blockchain exposure. The team said his tokens would not be released.
“TLDR is, they stole my money,” Skvorc wrote. “And because it’s the @POTUS [The president of the United States] family, I can’t do anything about it. This is the new age mafia. There is no one to complain to, no one to argue with, no one to sue.”
In response to another user, Skvorc claimed that he is one of six investors who were subject to 100% token lockups from the beginning. “It was not ‘high risk’ to accept money from this address, but it is high risk to unlock owed money into it,” he wrote.
Justin Sun’s WLFI tokens frozen
On Friday, Tron founder Justin Sun also revealed that his WLFI token allocation has been frozen. His wallet was blacklisted after blockchain trackers flagged a $9 million transaction, triggering accusations that he had started selling.
#creattoearn $BNB $BTC $ETH
A crypto developer says Trump-linked crypto project WLFI froze his tokens and refused to unlock them, calling it “the new age mafia.”
A crypto developer has accused World Liberty Financial (WLFI), a crypto project with ties to US President Donald Trump, of stealing his funds by refusing to unlock his tokens.
In a Saturday post on X, Polygon DevRel Bruno Skvorc shared an email from WLFI’s compliance team, which flagged his wallet address as “high risk” due to blockchain exposure. The team said his tokens would not be released.
“TLDR is, they stole my money,” Skvorc wrote. “And because it’s the @POTUS [The president of the United States] family, I can’t do anything about it. This is the new age mafia. There is no one to complain to, no one to argue with, no one to sue.”
In response to another user, Skvorc claimed that he is one of six investors who were subject to 100% token lockups from the beginning. “It was not ‘high risk’ to accept money from this address, but it is high risk to unlock owed money into it,” he wrote.
Justin Sun’s WLFI tokens frozen
On Friday, Tron founder Justin Sun also revealed that his WLFI token allocation has been frozen. His wallet was blacklisted after blockchain trackers flagged a $9 million transaction, triggering accusations that he had started selling.
#creattoearn $BNB $BTC $ETH
Urgent Scam alert 🚨
Share
#Vello Scam
Guys Before buying any new project,
Check one must thing
Does selling is allowed in contract or on exchange?
Doest they have enough liquidity?
I am hearing rumors about this project #Vello which looks like a scam.
Since people are unable to sell it back.
Stay safe.
Share with everyone #scams
#crypto2023 #dyor
Share
#Vello Scam
Guys Before buying any new project,
Check one must thing
Does selling is allowed in contract or on exchange?
Doest they have enough liquidity?
I am hearing rumors about this project #Vello which looks like a scam.
Since people are unable to sell it back.
Stay safe.
Share with everyone #scams
#crypto2023 #dyor
What Actually Happens If You Sign Up for One of Those Scammy "Online Jobs" Is Pretty Fascinating
Be warned: that job offer scam might not be so mundane after all!
The rise of sophisticated robo-texting has brought an influx of fraudulent job offers luring unsuspecting victims with the promise of easy money. While most would disregard such messages, one curious journalist took a leap down the rabbit hole and uncovered a fascinating crypto twist.
Alexander Sammon's experience, outlined in Slate, offers an intriguing insight into the obscure world of these scams. His encounter went beyond a simple text exchange; it morphed into a complex, mysterious journey involving crypto, with implications that could impact the wider crypto ecosystem.
Sammon's story serves as a timely reminder to exercise extreme caution when encountering unknown entities online. The implications of such scams can be severe, showcasing the dark underbelly of the web and the lengths bad actors will go to manipulate unsuspecting individuals.
Stay vigilant, stay informed, and never let curiosity cat your crypto!
#Scams #CryptoCare #Web3 #OnlineSafety #Indeed
$XRP
$BNB
$SOL
Be warned: that job offer scam might not be so mundane after all!
The rise of sophisticated robo-texting has brought an influx of fraudulent job offers luring unsuspecting victims with the promise of easy money. While most would disregard such messages, one curious journalist took a leap down the rabbit hole and uncovered a fascinating crypto twist.
Alexander Sammon's experience, outlined in Slate, offers an intriguing insight into the obscure world of these scams. His encounter went beyond a simple text exchange; it morphed into a complex, mysterious journey involving crypto, with implications that could impact the wider crypto ecosystem.
Sammon's story serves as a timely reminder to exercise extreme caution when encountering unknown entities online. The implications of such scams can be severe, showcasing the dark underbelly of the web and the lengths bad actors will go to manipulate unsuspecting individuals.
Stay vigilant, stay informed, and never let curiosity cat your crypto!
#Scams #CryptoCare #Web3 #OnlineSafety #Indeed
$XRP
$BNB
$SOL
#Ripple CEO Brad Garlinghouse has urged the crypto community to remain vigilant during the Christmas season against online scams. The warning coincides with the launch of a new security initiative named "Strawberry Pie."
This initiative is part of the broader Tech Against #scams Coalition, which includes companies like #meta , Match Group, and Coinbase. The goal of Strawberry Pie is to encourage open conversations about scam tactics and shared experiences to help users recognize warning signs and protect themselves.
Ripple's security team reported efforts to combat tens of thousands of malicious websites and fake videos targeting XRP holders.
#BinanceBlockchainWeek #TrumpTariffs
This initiative is part of the broader Tech Against #scams Coalition, which includes companies like #meta , Match Group, and Coinbase. The goal of Strawberry Pie is to encourage open conversations about scam tactics and shared experiences to help users recognize warning signs and protect themselves.
Ripple's security team reported efforts to combat tens of thousands of malicious websites and fake videos targeting XRP holders.
#BinanceBlockchainWeek #TrumpTariffs
One of my friend recently saw a post on binance for futures calls @CryptoManiacsQueen , joined his/her telegram channel( https://t.me/CryptomaniacsQueen1 ) . She started an investment package minimum of $100 investment , so if you invest $300 you will receive $6000 in 78hrs(I warned him before entering this scam) he paid her $300 usdt via trc20 .
He received a mail in the next 48hrs , with a username and password for this scam website Alphaibroker.com
he entered and saw $300 in it , next 72hrs as promised he received $6050 in his account , he tried withdrawing it that's when the real scam started , chat pops up and asks for $700 withdrawal fees and asks for a bsc wallet address of coinbase wallet , so he created one and sent them the address and the $700 via same trc20 usdt .
He received 6050usdt(on bsc chain which clearly proves it's a fake token) he cannot send it or swap to some other token . He was again told to pay $1050 as a conversion fee only then he understood that he was scammed all along .
Invest in a project you trust , pls stay away from all the investment schemes and scammers like @CryptoManiacsQueen
#BTC🔥🔥 #scams #scammer #BTC #CryptoScamAlert
He received a mail in the next 48hrs , with a username and password for this scam website Alphaibroker.com
he entered and saw $300 in it , next 72hrs as promised he received $6050 in his account , he tried withdrawing it that's when the real scam started , chat pops up and asks for $700 withdrawal fees and asks for a bsc wallet address of coinbase wallet , so he created one and sent them the address and the $700 via same trc20 usdt .
He received 6050usdt(on bsc chain which clearly proves it's a fake token) he cannot send it or swap to some other token . He was again told to pay $1050 as a conversion fee only then he understood that he was scammed all along .
Invest in a project you trust , pls stay away from all the investment schemes and scammers like @CryptoManiacsQueen
#BTC🔥🔥 #scams #scammer #BTC #CryptoScamAlert
🚨SCAMALERT: 1 YEAR Prison for $3,500,000 SCAM!
This is a wild story of a fraudster who used a crypto scam to try and build an online reputation. A crypto influencer named Charles O. Parks III was just sentenced to a year in prison for a cryptojacking operation that defrauded two cloud computing providers out of $3.5 million in resources.
Parks used fake identities to get elevated computing privileges, which he then used to mine almost $1 million worth of Ether, Litecoin, and Monero. He laundered the crypto to buy luxury items like a Mercedes Benz and jewelry, all while promoting himself online as a thought leader with a "MultiMillionaire Mentality".
The US Attorney said that Parks was "merely a fraudster whose secret to getting rich quick was lying and stealing". He was ordered to forfeit $500,000 and the Mercedes Benz. This is another powerful reminder that while crypto is all about freedom, it is not a free pass to commit crimes. #Scamalert #Scam #Scams #Hacking #Fraud
This is a wild story of a fraudster who used a crypto scam to try and build an online reputation. A crypto influencer named Charles O. Parks III was just sentenced to a year in prison for a cryptojacking operation that defrauded two cloud computing providers out of $3.5 million in resources.
Parks used fake identities to get elevated computing privileges, which he then used to mine almost $1 million worth of Ether, Litecoin, and Monero. He laundered the crypto to buy luxury items like a Mercedes Benz and jewelry, all while promoting himself online as a thought leader with a "MultiMillionaire Mentality".
The US Attorney said that Parks was "merely a fraudster whose secret to getting rich quick was lying and stealing". He was ordered to forfeit $500,000 and the Mercedes Benz. This is another powerful reminder that while crypto is all about freedom, it is not a free pass to commit crimes. #Scamalert #Scam #Scams #Hacking #Fraud
👉👉👉 Attorney Says They Are “Receiving 5-6 Emails a Day” From Victims of Pig Butchering #scams
Pig butchering scams, a rising form of criminal activity in the United States, involve online romance, fake crypto investments, and human trafficking, causing substantial financial losses for victims. According to Erin West, Deputy District Attorney in Santa Clara, California, the issue is escalating, with an average of 5-6 daily emails from victims, including one recent case where an individual lost $5 million.
The stolen funds are often sent overseas to transnational criminal organizations in Myanmar and Cambodia, utilizing trafficked individuals as virtual slaves to perpetrate the pig butchering scams. TRM Labs reports that the FBI’s Internet Crime Complaint Center (IC3) has received over 4,300 complaints related to pig butchering, resulting in cumulative losses exceeding $400 million.
Erin West, part of the Regional Enforcement Allied Computer Team (REACT) Task Force, has developed a prosecutorial blueprint to address pig butchering cases. In collaboration with Binance, the world’s largest cryptocurrency exchange, West obtained crucial information that aided in the recovery of funds for 26 victims. Describing pig butchering as a calculated long-term con, West emphasizes the need for a comprehensive government solution to combat this form of scam.
Despite losses of approximately $2 billion to crypto thefts in 2023, there was a slight decline in hacking incidents targeting the #cryptocurrency industry. A report from De.FI highlights ongoing vulnerabilities in the decentralized finance (#DEFI ) ecosystem, noting progress in addressing these challenges. The report underscores the need for vigilance and comprehensive measures to enhance security in the crypto space.
Source - Ruholamin Haqshanas @ruholamin-haqshanas
Website - Cryptonews
#CryptoNews🔒📰🚫 #BinanceSquare
Pig butchering scams, a rising form of criminal activity in the United States, involve online romance, fake crypto investments, and human trafficking, causing substantial financial losses for victims. According to Erin West, Deputy District Attorney in Santa Clara, California, the issue is escalating, with an average of 5-6 daily emails from victims, including one recent case where an individual lost $5 million.
The stolen funds are often sent overseas to transnational criminal organizations in Myanmar and Cambodia, utilizing trafficked individuals as virtual slaves to perpetrate the pig butchering scams. TRM Labs reports that the FBI’s Internet Crime Complaint Center (IC3) has received over 4,300 complaints related to pig butchering, resulting in cumulative losses exceeding $400 million.
Erin West, part of the Regional Enforcement Allied Computer Team (REACT) Task Force, has developed a prosecutorial blueprint to address pig butchering cases. In collaboration with Binance, the world’s largest cryptocurrency exchange, West obtained crucial information that aided in the recovery of funds for 26 victims. Describing pig butchering as a calculated long-term con, West emphasizes the need for a comprehensive government solution to combat this form of scam.
Despite losses of approximately $2 billion to crypto thefts in 2023, there was a slight decline in hacking incidents targeting the #cryptocurrency industry. A report from De.FI highlights ongoing vulnerabilities in the decentralized finance (#DEFI ) ecosystem, noting progress in addressing these challenges. The report underscores the need for vigilance and comprehensive measures to enhance security in the crypto space.
Source - Ruholamin Haqshanas @ruholamin-haqshanas
Website - Cryptonews
#CryptoNews🔒📰🚫 #BinanceSquare
Russian Central Bank Says ‘Almost All Financial #scams Are Now Crypto-themed’
The Russian Central Bank reported that "almost all" financial scams identified in the past year had elements related to #cryptocurrencies.
According to an official statement, the bank noted a nearly 16% increase in financial scams in 2023 compared to the previous year, with crypto themes prevalent in nearly every case.
The bank highlighted a growing number of illegal entities in the financial market employing crypto-related themes. In 2023, it identified 5,735 entities, including companies, projects, and individual entrepreneurs, suspected of engaging in illegal activities such as financial pyramids.
Despite the rise in such projects, the bank noted a positive trend: the lifespan of scam projects had decreased, and they were causing less financial damage on average.
To combat these scams, the regulator blocked access to over 11,200 web pages associated with illegal financial market participants and operators of financial pyramids.
The Central Bank also took legal action against suspected financial scammers, launching over 125 criminal cases and 620 administrative cases, many of which involved the use of cryptocurrencies or crypto-related themes.
Collaborating with authorities like the Federal Antimonopoly Service and Roskomnadzor, the bank aims to crack down on financial scams. Its public list of suspected scams includes social media chatrooms, crypto-related games, suspected fraudulent exchanges, and #CryptoTrading bot schemes. Additionally, it identifies firms allegedly involved in crypto mining scams, where investors are solicited to fund dubious Bitcoin mining centers purportedly located in Siberia.
Source - cryptonews.com
#CryptoNews #BinanceSquare
The Russian Central Bank reported that "almost all" financial scams identified in the past year had elements related to #cryptocurrencies.
According to an official statement, the bank noted a nearly 16% increase in financial scams in 2023 compared to the previous year, with crypto themes prevalent in nearly every case.
The bank highlighted a growing number of illegal entities in the financial market employing crypto-related themes. In 2023, it identified 5,735 entities, including companies, projects, and individual entrepreneurs, suspected of engaging in illegal activities such as financial pyramids.
Despite the rise in such projects, the bank noted a positive trend: the lifespan of scam projects had decreased, and they were causing less financial damage on average.
To combat these scams, the regulator blocked access to over 11,200 web pages associated with illegal financial market participants and operators of financial pyramids.
The Central Bank also took legal action against suspected financial scammers, launching over 125 criminal cases and 620 administrative cases, many of which involved the use of cryptocurrencies or crypto-related themes.
Collaborating with authorities like the Federal Antimonopoly Service and Roskomnadzor, the bank aims to crack down on financial scams. Its public list of suspected scams includes social media chatrooms, crypto-related games, suspected fraudulent exchanges, and #CryptoTrading bot schemes. Additionally, it identifies firms allegedly involved in crypto mining scams, where investors are solicited to fund dubious Bitcoin mining centers purportedly located in Siberia.
Source - cryptonews.com
#CryptoNews #BinanceSquare
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