Crypto Scam

A report from Check Point Research (CPR) reveals that a malicious app used "advanced evasion techniques" to steal $70,000 (roughly Rs. 58.6 lakh) over five months from users interacting with the platform. After analysing its JavaScript code, the app has been named "MS Drainer."

Binance crypto exchange has claimed that its internal intelligence unit assisted the ED in uncovering this scam. In a statement released on Wednesday, September 25, Binance said that such public-private partnerships against financial crimes can strengthen its role in India’s crypto landscape.

Taking advantage of the hype around Apple’s 'Glowtime' event on September 9, hackers deployed deepfake videos on YouTube to target potential victims. These fraudulent videos were designed to capture the attention of Apple enthusiasts searching online to stream the launch of the flagship iPhone 16 models.

The FBI Internet Crime Complaint Center received nearly 69,500 complaints from consumers in the US and abroad last year. Call center frauds, such as government impersonation scams, accounted for about 10 percent of cryptocurrency losses.

Last week, Mudrex filed a petition with the Delhi High Court seeking action against the fraudulent websites. Mudrex had submitted evidence of its names and other marks being used extensively by fake websites to interact with users across the country.

A former chief executive officer (CEO) of a US bank has been sentenced to more than 24 years in federal prison for embezzling $47 million in a cryptocurrency fraud scheme.

In a recent incident, McDonald’s Instagram account was hacked, leading to the promotion of a scam memecoin called ‘Grimace’. McDonald’s has managed to recover its account since the hack. All posts related to the Grimace memecoin and an edited bio have since been removed.

Binance has reportedly managed to avert $2.4 billion (roughly Rs. 20,130 crore) in losses between January and July this year. Out of the total saved, withdrawals linked to suspected crypto scams made up over $1.1 billion (roughly Rs. 9,227 crore), which is about 45 percent of the total amount.

Binance’s security team has successfully recovered or frozen over $73 million (roughly Rs. 612 crore) in user funds from external hacks as of July 31, 2024. The platform identified and secured funds linked to hacks or scams that had made their way onto Binance, preventing further loss to users.

Crypto scammers have been found impersonating BlackRock officials to deceive their victims. In investment scams, fraudsters often use limited-time offers to pressure victims, making the lure of a substantial reward overshadow their better judgment. BlackRock has released an urgent warning to the crypto community.

The Himachal Pradesh Police has arrested one of the masterminds of a Rs 2,500-crore cryptocurrency scam, which was unearthed in the state in 2022, from Kolkata, officials said on Thursday.

US regulators have issued an official warning against an emerging category of crypto scams, where scammers pose as professors or academicians. Social networking platforms including Facebook, WhatsApp, and Telegram are being exploited by cyber miscreants to find and communicate with potential victims.

While cryptocurrency currently stands at the crossroads of opportunity and uncertainty, with regulation, education, and understanding, it may well evolve into a cornerstone of the financial landscape.

Elon Musk’s popularity in the crypto circle is becoming a dangerous threat for crypto investors, especially for ones who take the billionaire’s market commentary rather seriously. In a fresh incident, Musk’s identity was misused to promote a fake crypto scheme on the YouTube channel of Australia’s Channel Seven .

The hackers used his account to promote and sell the Meme token GUNIT, defrauding victims of $3 million.

A report from Check Point Research (CPR) reveals that a malicious app used "advanced evasion techniques" to steal $70,000 (roughly Rs. 58.6 lakh) over five months from users interacting with the platform. After analysing its JavaScript code, the app has been named "MS Drainer."

Binance crypto exchange has claimed that its internal intelligence unit assisted the ED in uncovering this scam. In a statement released on Wednesday, September 25, Binance said that such public-private partnerships against financial crimes can strengthen its role in India’s crypto landscape.

Taking advantage of the hype around Apple’s 'Glowtime' event on September 9, hackers deployed deepfake videos on YouTube to target potential victims. These fraudulent videos were designed to capture the attention of Apple enthusiasts searching online to stream the launch of the flagship iPhone 16 models.

The FBI Internet Crime Complaint Center received nearly 69,500 complaints from consumers in the US and abroad last year. Call center frauds, such as government impersonation scams, accounted for about 10 percent of cryptocurrency losses.

Last week, Mudrex filed a petition with the Delhi High Court seeking action against the fraudulent websites. Mudrex had submitted evidence of its names and other marks being used extensively by fake websites to interact with users across the country.

A former chief executive officer (CEO) of a US bank has been sentenced to more than 24 years in federal prison for embezzling $47 million in a cryptocurrency fraud scheme.

In a recent incident, McDonald’s Instagram account was hacked, leading to the promotion of a scam memecoin called ‘Grimace’. McDonald’s has managed to recover its account since the hack. All posts related to the Grimace memecoin and an edited bio have since been removed.

Binance has reportedly managed to avert $2.4 billion (roughly Rs. 20,130 crore) in losses between January and July this year. Out of the total saved, withdrawals linked to suspected crypto scams made up over $1.1 billion (roughly Rs. 9,227 crore), which is about 45 percent of the total amount.

Binance’s security team has successfully recovered or frozen over $73 million (roughly Rs. 612 crore) in user funds from external hacks as of July 31, 2024. The platform identified and secured funds linked to hacks or scams that had made their way onto Binance, preventing further loss to users.

Crypto scammers have been found impersonating BlackRock officials to deceive their victims. In investment scams, fraudsters often use limited-time offers to pressure victims, making the lure of a substantial reward overshadow their better judgment. BlackRock has released an urgent warning to the crypto community.

The Himachal Pradesh Police has arrested one of the masterminds of a Rs 2,500-crore cryptocurrency scam, which was unearthed in the state in 2022, from Kolkata, officials said on Thursday.

US regulators have issued an official warning against an emerging category of crypto scams, where scammers pose as professors or academicians. Social networking platforms including Facebook, WhatsApp, and Telegram are being exploited by cyber miscreants to find and communicate with potential victims.

While cryptocurrency currently stands at the crossroads of opportunity and uncertainty, with regulation, education, and understanding, it may well evolve into a cornerstone of the financial landscape.

Elon Musk’s popularity in the crypto circle is becoming a dangerous threat for crypto investors, especially for ones who take the billionaire’s market commentary rather seriously. In a fresh incident, Musk’s identity was misused to promote a fake crypto scheme on the YouTube channel of Australia’s Channel Seven .

The hackers used his account to promote and sell the Meme token GUNIT, defrauding victims of $3 million.