Global crypto giants, including Binance, Coinbase, PayPal, and Kraken, have joined forces with law enforcement agencies to launch Beacon Network, a new real-time crime response system aimed at combating the growing wave of fraud in the digital asset space.
Cybercriminals are now exploiting Google Forms to scam unsuspecting cryptocurrency users in a clever twist to online fraud.
The Toronto Police Service, in collaboration with Nigerian authorities, has recovered and returned $225,000 to a victim defrauded in a cryptocurrency investment scheme by Omonkhoa Precious Afure, a Nigerian national.
An Indian National has been sentenced to 5 years in prison following his conviction for stealing over $20 million in a crypto fraud scheme involving fake crypto websites.
A crypto trader has become the biggest hit by bad actors this month so far losing $1.28 million in crypto assets to a malicious permit transaction.
Coinbase one of the leading crypto exchanges in the industry has issued a statement on the growing cases of online scams targeted especially at the Gen Z demographic.
FTX have announced plans to distribute the recovered assets of the company totaling between $14.5 billion and $16.3 billion to the company’s customers and other creditors around the world at the time of its collapse in November 2022.
According to data released by CipherTrace Cryptocurrency Intelligence, crypto theft for last year stood at $1.9 billion in 2020, down from $4.5 billion in 2019.
