Crypto fraud - Tag Archives - Cryptonews (Page 2)

Ex Cred Execs Get Prison for Crypto Fraud – FBI Details Targeted Scheme

Cred executives Daniel Schatt and Joseph Podulka were sentenced to years behind bars for defrauding customers of the crypto lender, a new press release from the U.S. Attorney’s Office of the Northern District of California shows. Cred Executives Face The Music According to the press release,...

, by Julia Smith

ASIC Removes 14,000 Scam Sites in Two Years, Crypto Fraud Accounts for 20% of Takedowns

The Australian Securities and Investments Commission (ASIC) has removed more than 14,000 investment scam and phishing websites since July 2023, with crypto fraud accounting for approximately 3,015 takedowns or 20% of all removals. ASIC continues shutting down an average of 130 malicious sites...

, by Anas Hassan

Law Enforcement, Private Firms Seized Over $300M in Crypto Linked to Fraud Schemes: Report

Two parallel initiatives by law enforcement and private companies have frozen over $300 million in crypto in an anti-fraud crackdown. According to Bleeping Computer, blockchain intelligence firm TRM Labs, TRON, Tether, and Binance joined the T3 Financial Crime Unit (T3 FCU) initiative launched...

, by Sujha Sundararajan

Indian Enforcement Directorate Raids Several Cities in $29M Crypto Fraud Ring

The Enforcement Directorate of India (ED) has raided 11 locations across multiple cities, including Delhi, in connection with a global crypto fraud case. The agency conducted the searches on Wednesday, following First Information Reports (FIRs) registered by the Central Bureau of Investigation...

, by Sujha Sundararajan

South Korean Crypto Exchange Bitsonic CEO Faces Second Jail Term Over Fraud

The CEO of South Korean crypto exchange Bitsonic has been sentenced to a second jail term for another fraud charge. CEO Shin Jin-wook already faces a 7-year sentence in prison for stealing 10 billion won ($7.5 million) worth of customer deposits. South Korean media outlet Digital Asset reported...

, by Sujha Sundararajan

Vincent Mazzotta Admits $13M Crypto Ponzi – But Did His Fake ‘Federal Reserve’ Fool Regulators?

Arizona man Vincent Anthony Mazzotta Jr. pleaded guilty to money laundering and conspiracy to obstruct justice on Monday for his role in orchestrating a $13 million crypto Ponzi scheme, a new press release from the Department of Justice (DOJ) states. Arizona Man Pleads Guilty in $13M Crypto...

, by Julia Smith

Washington State Moves To Forfeit $7.1 Million Worth Of Crypto From International Fraud Scheme

The U.S. Attorney’s Office for the Western District of Washington filed a civil action on Tuesday seeking the forfeiture of over $7 million in digital assets recovered from a massive crypto scheme, a new press release from the Department of Justice shows. Fraudsters Stole $97 Million in Crypto...

, by Julia Smith

Crypto Ponzi Scheme Mastermind Gets 8 Years for $40M Investor Fraud—DOJ Confirms

Dwayne Golden of Harrisburg, Pennsylvania, has been sentenced to over eight years in federal prison for his role in a $40 million crypto Ponzi scheme, according to the U.S. Department of Justice. The sentence was delivered by Judge William F. Kuntz II in a Brooklyn federal court. The 57 years...

, by Hassan Shittu

Why the U.S. is Clamping Down on Bitcoin ATMs

When a family was scammed out of $25,000 at a Bitcoin ATM in Texas, law enforcement agents didn't mess around. Detectives used power tools to break into the machine and recover the physical cash inside — with a grand total of $31,900 seized. Although helping a fraud victim is certainly to be...

, by Connor Sephton

Russian Crypto CEO Charged in $530M Laundering Fraud – Here’s What Happened

New York federal prosecutors have arrested and arraigned the Russian CEO of Miami-based crypto platform Evita for orchestrating a $530 million fraud scheme. The Russian national used his crypto company, Evita, to funnel $530 million of overseas payments via US banks and crypto platforms, the...

, by Sujha Sundararajan

DOJ Charges Purported Amalgam Blockchain Founder Over Wire, Securities Fraud

US prosecutors have filed a case against the self-styled head of a purported blockchain firm, Amalgam, for his alleged involvement in wire fraud. $1 Million Crypto Swindle Involving ‘Sham Blockchain’ Scheme Jeremy Jordan-Jones engaged in a scheme to defraud investors of over $1 million by...

, by Sujha Sundararajan

SafeMoon Ex-CEO Found Guilty on Every Charge

A federal jury in the Eastern District of New York convicted former SafeMoon CEO Braden Karony on May 21 of conspiracy to commit securities fraud, wire fraud and money laundering after a 12-day trial that began on May 5. He now faces up to 45 years in prison and the forfeiture of illicit...

, by Shalini Nagarajan

SEC Charges Crypto Project Unicoin Over $100M Token Sale Fraud

The SEC on Tuesday charged crypto project Unicoin and three of its senior executives with running a fraudulent offering that raised more than $100m from thousands of investors. The complaint names CEO and board chairman Alex Konanykhin, former president and board chairwoman Silvina Moschini...

, by Shalini Nagarajan

Father-Son Crypto Scam Duo Jailed After Bleeding Investors of $12M

Hugh Austin, a crypto fraudster behind a crypto scam who allegedly involved his own son in a $12 million laundering scheme, has been sentenced to nearly two decades in prison for orchestrating the affair. $12 Million In Investor Funds Drained In Scheme According to an April 23 press release...

, by Julia Smith

Crypto Fraud Reached Staggering $9.3B Losses in 2024, 66% Increase From 2023: FBI Report

The Federal Bureau of Investigation (FBI) received over 149K complaints regarding crypto fraud in 2024. The Bureau recorded $9.3 billion losses spread across various crypto-related investment scams, extortion, ATM and kiosks, among others. Per the FBI’s Internet Crime Complaint Center (IC3)...

, by Sujha Sundararajan

New ‘Crocodilus’ Android Malware Steals Sensitive Crypto Wallet Credentials: Research

A new “highly capable” mobile banking malware dubbed “Crocodilus,” targets Android devices, extorting sensitive crypto wallet credentials using social engineering tactics. A recent research by cybersecurity firm Threat Fabric found the emergence of a new malware family Crocodilus. The malware...

, by Sujha Sundararajan

# Crypto fraud (Page 2)

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