Popular bug bounty platform Immunefi has found that the global cryptocurrency ecosystem suffered increased hacks and frauds in the second quarter of 2024, losing $ 572.7 million. According to a recent report, this is a 112% increase compared to the same period last year. Immunefi noted that the two largest exploits of the year …
The Commodity Futures Trading Commission (CFTC) warns about repeated fraud targeting victims multiple times, often by the same criminals. Common fraud types include relationship crypto frauds, also known as “pig butchering,” where scammers form online relationships, encourage investments in bogus crypto trading schemes, and then steal funds. Victims often face additional scams, such as fraud-recovery […]
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has reiterated his view that crypto is a field full of noncompliance. While noting that crypto is a small piece of the overall U.S. financial market that his agency oversees, the SEC chair emphasized that it is “an outsized piece of the scams […]
Hong Kong’s financial regulator has warned the public about two entities suspected of crypto frauds. In addition to issuing cease and desist letters to relevant website operators requesting them to cease offering crypto tokens for purchases, the regulator advises the public to “be cautious about too-good-to-be-true investment opportunities and advice posted on social media platforms […]
Fraudsters targeting victims in Ireland are increasingly posing as bank officials rather than crypto promoters, the local press reported quoting police. Amid the growing trend, Irish investors have lost millions of euros to this type of schemes this year, with law enforcement authorities having recovered only a fraction. Criminals Drop Crypto Frauds in Favor of […]