Scammers | ForkLog

ForkLog 85 04.11.2024

What is a Sybil attack?

This threat looms over any peer-to-peer network, including blockchains. Airdrop hunters often use Sybil tactics, too.

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ForkLog 15 01.11.2024

US Justice Department Charges Gotbit Founder with Fraud

The Massachusetts Attorney’s Office has charged Alexey Andryunin, founder and CEO of market maker Gotbit, with fraud and conspiracy to manipulate the cryptocurrency market. Founder of cryptocurrency financial services firm “Gotbit” indicted for market manipulation and fraud conspiracy. Allegedly made tens of millions of dollars in proceeds for fraudulent “wash trading” services. ?https://t.co/d0ofGJkACz — U.S. […]

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ForkLog 35 28.10.2024

Green United Promoter to Challenge SEC Fraud Allegations

Christopher Cron, the chief promoter of cryptocurrency mining equipment manufacturer Green United, has filed an appeal against the SEC lawsuit accusing the company of an $18 million securities fraud. This was reported by Cointelegraph. Cron argues that the regulator’s claims regarding the company’s investment contracts being classified as securities are incorrect. He intends to challenge […]

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ForkLog 9 23.10.2024

Coinbase Users Suffer $100-150 Million Loss from Scams, Estimates ZachXBT

In the past year, users of the cryptocurrency exchange Coinbase have incurred losses ranging from $100 million to $150 million due to phishing and social engineering scams. This estimate was provided by on-chain researcher ZachXBT. Have not seen numbers publicly reported anywhere before but I estimate Coinbase support social engineering / phishing scams have resulted […]

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ForkLog 31 21.10.2024

Prosecutors Receive Bitmama Case with Reduced Damages

The criminal case against Valeria Fedyakina, a native of Simferopol known by the alias Bitmama, has been forwarded to the prosecutor’s office for indictment approval, reports Kommersant. Fedyakina collaborated with currency exchangers, receiving cash from them and promising to transfer the funds to another country with a bonus, despite the usual commission for such transactions. […]

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ForkLog 22 19.10.2024

Indian National Sentenced to Five Years for $20 Million Coinbase Fraud

Indian citizen Chirag Tomar has been sentenced to five years in prison for orchestrating a $20 million cryptocurrency fraud involving a fake website of the bitcoin exchange Coinbase. Court documents reveal that from at least June 2021 to December 2023, Tomar and his accomplices stole cryptocurrency from hundreds of victims through a counterfeit version of […]

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ForkLog 31 18.10.2024

US Treasury Harnesses AI to Combat $4 Billion in Fraud

The US Department of the Treasury employed artificial intelligence to analyze data and recover over $4 billion obtained through fraud and misconduct in the 2024 fiscal year. Through the use of AI, the department managed to reclaim six times more funds compared to the previous reporting period, when the amount was $652.7 million, the Treasury […]

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ForkLog 33 16.10.2024

SEC Accuses Saitama Inu and Robo Inu Promoter of Fraud

SEC has charged a U.S.-based Vietnamese citizen, Vy Pham, with fraud for her involvement in market manipulation schemes involving meme tokens Saitama Inu and Robo Inu. The agency also alleges that the assets were offered and sold as unregistered securities. According to the SEC, Pham (known by the pseudonym msvy_crypto) personally engaged in market manipulation […]

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ForkLog 15 16.10.2024

Fraudsters Exploit Deepfakes to Swindle $46 Million from Love-Struck Men

Fraudsters employed deepfake technology to impersonate attractive women during video calls, deceiving love-struck men into “investing” in cryptocurrencies. This was reported by SCMP, citing Hong Kong police. In October 2023, the syndicate established an operational center in a 4000-square-foot industrial building in the Hung Hom constituency and began recruiting staff. University graduates specializing in digital […]

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ForkLog 102 14.10.2024

MrBeast Accused of Promoting Scam Tokens by Researcher

YouTube personality MrBeast allegedly earned over $10 million by investing in low-cap tokens and promoting them. This conclusion was drawn by anonymous on-chain analyst SomaXBT, as reported here. 1/ An investigation into @MrBeast ,how he allegedly made $10M+ by backing low-cap IDO crypto tokens promoted by influencers like Lark Davis, CryptoBanter, KSI, and others. Many […]

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ForkLog 134 11.10.2024

AI Tools Exploit KYC Loopholes in Cryptocurrency Exchanges

Malefactors are employing AI-based software to circumvent stringent KYC measures on cryptocurrency exchanges, according to a report by security firm Cato Networks. The tool, named ProKYC, represents a “new level of sophistication” in crypto fraud. It marks a significant advancement over older methods used by cybercriminals to bypass two-factor authentication and KYC. Instead of purchasing […]

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ForkLog 161 10.10.2024

Russian Hackers Exploit AI ‘Deepnude’ Generators to Spread Malware

Russian hackers are deploying ‘AI Deepnude generators’—software designed to create nude images of women from uploaded photos—to infect users’ devices with viruses, according to a report by security firm Silent Push. Experts indicate that the hacker group FIN7 has established at least seven websites offering tools to ‘undress’ women. Potential victims are prompted to download […]

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