A recent study by Imperial College London analysts claims that crypto pump and dump scams account for $7 million in trade volume each month. A recent study has found that pump and dump schemes account for about $7 million worth of trading volume per month, MIT Technology Review reported Dec. 4. The analysis was performed… Continue reading Study: Pump and Dump Schemes Account for $7 Million of Monthly Trade Volume
Category: Bitcoin Scams
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SIM Swapping Becomes Increasingly Popular in California, Police Make It “High Priority”
Here is how crypto fraudsters’ new favorite scheme works. On November 7, a security news and investigation blog KrebsOnSecurity published an interview with REACT Task Force, a California-based law enforcement group dedicated to fighting cybercrime. As per the article, members of REACT consider “SIM swapping” one of its “highest priorities” in a bid to fight… Continue reading SIM Swapping Becomes Increasingly Popular in California, Police Make It “High Priority”
Four Fake Cryptocurrency Wallets Found on Google Play Store
A security researcher has found four fake cryptocurrency wallets on the Google Play Store. Malware researcher Lukas Stefanko has found four fake cryptocurrency wallets on the Google Play Store that were trying to steal users’ personal data, according to a blog post published Nov. 13. The apps were posing as cryptocurrency wallets for NEO, Tether… Continue reading Four Fake Cryptocurrency Wallets Found on Google Play Store
Report: Google G Suite Twitter Account Compromised to Promote 10,000 Bitcoin Scam
The Twitter account of Google’s G Suite was reportedly breached to advertise a 10,000 Bitcoin giveaway scam. The official Twitter account of Google’s G Suite was reportedly compromised to promote a Bitcoin (BTC) giveaway scam, technology and business news outlet the Next Web reported Nov. 13. The G Suite Twitter account was reportedly hacked to… Continue reading Report: Google G Suite Twitter Account Compromised to Promote 10,000 Bitcoin Scam
Mining Giant Bitmain Sues Unknown Hacker for Alleged Theft of $5.5 Million in Crypto
Bitman sues unknown hacker who allegedly stole $5.5 million worth of crypto by using Binance and Bittrex wallets for manipulation of MANA token. China-based Bitcoin (BTC) mining giant Bitmain has sued an anonymous hacker for the alleged theft of cryptocurrency worth $5.5 million from Bitmain’s account on Binance in April, according to a lawsuit filed… Continue reading Mining Giant Bitmain Sues Unknown Hacker for Alleged Theft of $5.5 Million in Crypto
Crypto Exchange YoBit Starts Pump Scheme on Random Coins
Russian crypto exchange YoBit tweeted that it will pump the price of 10 random coins. Cryptocurrency exchange YoBit is going to perform a pump scheme on random coins, according to an Oct. 10 tweet. A pump and dump scheme is a form of fraud that attempts to artificially boost the price of an asset through… Continue reading Crypto Exchange YoBit Starts Pump Scheme on Random Coins
Hackers Breach Smart Contract on Ethereum-Based Adult Entertainment Platform SpankChain
Blockchain-based adult entertainment platform SpankChain lost $38,000 in ETH in a hack of its payment channel smart contract. Ethereum-based adult entertainment platform SpankChain has suffered a smart contract security breach that led to loss of around $38,000, the firm reported on its Medium page Oct. 9. The hack, which purportedly took place Oct. 6, was… Continue reading Hackers Breach Smart Contract on Ethereum-Based Adult Entertainment Platform SpankChain
CEO Behind GAW Miners, PayCoin Ponzi Scheme Sentenced to 21 Months in Prison
The CEO of now-defunct GAW Miners has been sentenced to 21 months in prison and ordered to pay $9.2 million in restitution to investors. Homero Joshua Garza, the CEO of the now-defunct U.S. crypto firm GAW Miners, has been sentenced to 21 months in prison for defrauding investors, local news agency Hartford Business reports Thursday,… Continue reading CEO Behind GAW Miners, PayCoin Ponzi Scheme Sentenced to 21 Months in Prison