Fraud - Tag Archives

All #Fraud

FTX Claims Total $11B, With $1.4B Still Unresolved

FTX creditor claims have reached an estimated $11 billion, with $1.4 billion currently unresolved, according to a social media post published by creditor activist Sunil Kavuri on July 7. In court filings dated June 27, the FTX Recovery Trust detailed the composition of disputed claims. Roughly $470 million involve claimants in jurisdictions with restrictions on cryptocurrency use or possible sanctions exposure. Chinese Creditors Lead Restricted Pool in FTX Case Another $290...

, by Hongji Feng

Features

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

New laws are calling for daily transaction limits on Bitcoin ATMs — with some cities banning them altogether.

, by Connor Sephton

Blockchain News

Nigerian Man Pleads Guilty to Laundering $2.5M in Crypto from US Victims

A Nigerian national pleaded guilty in Boston federal court on June 25 to charges related to laundering funds obtained through online romance fraud, according to a statement from the U.S. Attorney’s Office for the District of Massachusetts. Charles Uchenna Nwadavid, 35, admitted to mail fraud and two counts of money laundering. Prosecutors said he controlled cryptocurrency accounts used to move victim funds and accessed them remotely from overseas. His sentencing is scheduled for...

, by Hongji Feng

FINRA Panel Sounds Alarm on AI-Powered Crypto Scams Targeting Retail Investors

At the 2025 FINRA Annual Conference, regulators and industry professionals gathered to discuss how financial fraud schemes, especially those involving crypto, are evolving in scale and sophistication. The session, titled “Mitigating Impacts of Fraud and Scams Targeting Customers,” featured...

, by Hongji Feng

Haishling NFT Founder Accused of Stealing Millions from Investors and Bitcoin Mining Venture

Jonathan Mills, founder of the Hashling NFT project and CEO of Satoshi Labs LLC, is facing a civil lawsuit in Illinois from a group of investors who allege he diverted millions from joint crypto ventures for personal gain. The suit, filed on May 14, accuses Mills of fraud, breach of fiduciary...

, by Hassan Shittu

JYS Group Crashes After $180M Investment – Chairman Fled to UK

JYS Group, a Chinese investment firm based in Guangdong province, collapsed in mid-April after raising an estimated ¥1.34 billion (approximately $180 million) for “high-return” schemes, including crypto. According to a May 2 report by The Economic Observer, the company’s chairman, Lin...

, by Hongji Feng

Crypto Space Lost $92M to Hacks in April 2025, Total Loss YTD Hits Whopping $1.74B

Hackers stole more than $92.4 million from crypto projects in April 2025. At the same time, the total losses for the first four months of the year alone surpassed $1.74 billion, according to blockchain security platform Immunefi. In April, the crypto space suffered a loss of $92,453,100 across...

, by Sead Fadilpašić

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

Estonian Crypto Fraudsters Flag Deportation Threat Ahead of Sentencing

Two Estonian men who pleaded guilty to running a large-scale crypto fraud scheme say U.S. immigration authorities have ordered them to leave the country in defiance of a federal court’s instructions. In a letter to the court on April 11, attorneys for Sergei Potapenko and Ivan Turogin said...

, by Hongji Feng

Man Loses £750,000 in ‘Cryptomugging’

The UK has seen more “cryptomugging” victims lately, with robbers coming for the phones of cryptocurrency investors – grabbing them out of the victims’ hands. The Independent reported two such cases. In the case of Toby Atkinson (alias), a robber snatched his unlocked phone from his hands as he...

, by Sead Fadilpašić

How to Spot Crypto Deepfakes

Crypto deepfakes are a growing problem — with AI used to create manipulated videos that target impressionable investors.

, by Connor Sephton

‘The Worst Quarter in History’: Crypto Lost $1.64 Billion to Hackers in Q1 2025

In the first three months of 2025, the crypto ecosystem lost a whopping $1,635,933,800 across 39 incidents, according to the blockchain security platform Immunefi. Immunefi’s latest report notes that “Q1 2025 marks the worst quarter for hacks in the history of the crypto ecosystem.” Hacks...

, by Sead Fadilpašić

Only 440 People Are Responsible for Trillions of USD in Artificial Crypto Trading – Research

About 440 people are responsible for trillions of dollars in artificial trading, according to a new study published on Cornell University’s server arXiv. Researchers Honglin Fu, Yebo Feng, Cong Wu, and Jiahua Xu have developed a tool called PERSEUS to track the infamous pump-and-dump schemes in...

, by Sead Fadilpašić

Chinese Couple Arrested in Thailand for Massive Crypto Scam, Kidnapping

Authorities in Thailand have arrested two Chinese nationals in connection to a crypto scam and kidnapping. On Wednesday, the Technology Crime Suppression Division of the Thai police announced the arrest of a 27-year-old woman, Wu Di, the South China Morning Post reported, citing local media....

, by Sead Fadilpašić

Crypto Influencer T.J. Stone Sentenced to 45 Months for Fraud

Crypto influencer T.J. Stone sentenced to 45 months for defrauding investors out of over $2M through fake real estate and crypto schemes. DOJ and FBI led the case.

, by Tanzeel Akhtar

Former Girlfriend of Crypto Fraudster ‘The Godfather’ to Plead Guilty to $2.6M Tax Charge

Iris Ramaya Au, the former girlfriend of convicted crypto fraudster Adam Iza, has agreed to plead guilty to a federal tax charge.

, by Ruholamin Haqshanas

Crypto Losses in February 2025 Rise 20x Month-Over-Month – Immunefi

In February 2025, losses in the crypto ecosystem increased by 20x month-over-month compared with January 2025, according to the latest report by major blockchain security platform Immunefi. In January, registered losses stood at $73,915,700. Just a month later, this figure jumped to...

, by Sead Fadilpašić

India Seizes $2.75M in Crypto, Launches Nationwide Raids in $760M GainBitcoin Investigation

India’s Central Bureau of Investigation (CBI) is conducting raids across the seventh-largest country in the world in connection to the infamous GainBitcoin scam from 2015. On Tuesday, 25 February, the bureau announced that it began the raids at more than 60 locations in the nation’s major...

, by Sead Fadilpašić

Senator Dick Durbin Launches New Bill to Fight Crypto ATM Fraud

Senator Dick Durbin (D-IL) introduced a new bill known as the “Crypto ATM Fraud Prevention Act” in a bid to address continued crypto fraud schemes, he announced on the Senate floor on February 25, 2025. Dick Durbin Announces New Bill Addressing Crypto ATM Fraud As our technology has...

, by Julia Smith

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# Fraud

All #Fraud

FTX Claims Total $11B, With $1.4B Still Unresolved

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

Nigerian Man Pleads Guilty to Laundering $2.5M in Crypto from US Victims

Cryptonews in numbers