Scammers | ForkLog

ForkLog 13 07.06.2024

New York Prosecutor Accuses Two Crypto Firms of $1 Billion Fraud

The New York State Attorney General’s Office, led by Letitia James, has filed a lawsuit against NovaTechFx and AWS Mining, accusing them of fraud and deceiving investors. We’re suing cryptocurrency companies @novatechfx and AWS Mining for defrauding investors out of over one billion dollars. They used prayer groups and social media apps to target Haitian […]

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ForkLog 11 06.06.2024

Chinese Student Challenges Prison Sentence Over Token Liquidity Withdrawal

In China, a legal battle continues involving a 24-year-old student accused of issuing a token on the BNB Chain blockchain and allegedly withdrawing liquidity from investors amounting to at least 50,000 USDT. This was reported by local media. According to court documents, in May 2022, the defendant, Yang Qichao, launched a token for the DAO […]

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ForkLog 8 05.06.2024

NFT scams: common schemes and how to protect yourself

As the market for non-fungible tokens (NFT) has grown, so too have scams. From fake projects to phishing attacks, fraudsters keep finding new ways to dupe credulous investors. Grigory Osipov, director of investigations at “ШАРД”, told ForkLog about the most widespread NFT frauds and shared tips on safeguarding assets. Types of NFTs Artworks Trading in […]

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ForkLog 20 05.06.2024

Mass Arrest of Bybit P2P Traders in Moscow Reported by Lawyers

In Moscow, law enforcement has detained over ten clients of the cryptocurrency exchange Bybit, who were conducting P2P transactions on the platform and inadvertently became counterparts to those who embezzled funds from a monastery. This was reported by the legal agency Cartesius. According to their information, the situation is linked to the embezzlement of 26.4 […]

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ForkLog 10 04.06.2024

Media Executive Accused of $67 Million Cryptocurrency Fraud

The U.S. Department of the Treasury has charged Bill Guan, the Chief Financial Officer of the international media company Epoch Times, with orchestrating a scheme to launder at least $67 million in illicit funds through cryptocurrencies. According to the case documents, from 2020 to May 2024, Guan established a team called Make Money Online in […]

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ForkLog 76 03.06.2024

Deepfake of Elon Musk Promotes Bitcoin Scam on YouTube

On June 2, a graphic designer for Dogecoin, known as DogeDesigner, discovered a YouTube livestream featuring a deepfake of Tesla and SpaceX CEO Elon Musk promoting a cryptocurrency scam. YouTube should change its name to ScamTube. A deepfake livestream of Elon Musk promoting a cryptocurrency scam is currently being broadcast on YouTube, with over 35,000 […]

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ForkLog 37 31.05.2024

Former Deutsche Bank Employee Sentenced for Cryptocurrency Fraud

On May 30, a New York court sentenced Rashawn Russell, a former employee of the German investment bank Deutsche Bank, to 41 months in prison for cryptocurrency fraud. This was reported by the US Department of Justice. According to the department, from November 2020 to August 2022, Russell managed the R3 crypto fund. He promised […]

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ForkLog 12 29.05.2024

ZKasino Initiates ETH Recovery Process

The blockchain casino ZKasino has launched a two-step bridge recovery process, allowing users to register and reclaim their ETH at a 1:1 ratio. The initiative is aimed at those “who chose not to participate in the ZKAS conversion,” the team clarified. Participants can register and submit their first batch of bridge rewards in tokens. By […]

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ForkLog 35 28.05.2024

How Telegram became the go-to venue for crypto scams

Telegram now dominates as the platform most frequently exploited for cryptocurrency fraud. Unlike old-fashioned phone scams, which rely on instant reactions and blind trust, messaging allows scammers to cultivate victims over time. Grigory Osipov, director of investigations at «ШАРД», explains the most common Telegram schemes to ForkLog. Why Telegram? The most popular venues for crypto […]

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ForkLog 12 24.05.2024

CatCoin Developers Threaten Legal Action Against BitForex Over Withdrawal Issues

The team behind the meme coin CatCoin (CAT) has issued an official warning to the Hong Kong-based exchange BitForex regarding difficulties in withdrawing the coin. This is a formal warning to @bitforexcom Exchange regarding the withdrawal of $CAT tokens. We may pursue legal action against both Bitforex and its former CEO, @JasonLuoBF, who remains in […]

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ForkLog 11 21.05.2024

Initial Fraud Case Against Beribit Exchange Dismissed

Investigators in Khabarovsk initiated a criminal case based on a complaint from a client of the cryptocurrency exchange Beribit. This was highlighted by the Telegram channel «Менделеевщина». According to the document, the victim reported the theft of funds totaling 1.1 million rubles (10,910 USDT). The case, citing large-scale fraud, was filed against an “unidentified person.” […]

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ForkLog 18 19.05.2024

US Authorities Arrest Two in $73 Million Crypto Fraud Case

US law enforcement arrested two Chinese nationals, Daren Li and Yichen Zhang, on charges of laundering at least $73 million linked to cryptocurrency fraud. “Crypto investment fraud exploits the borderless nature of virtual currency and online communications to deceive victims. […] These arrests reflect the Justice Department’s ongoing commitment to dismantling the entire cybercrime ecosystem […]

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