fraudsters

A resident of Nanaimo, Canada, fell victim to a scam after receiving a text message promoting remote stock trading jobs and depositing about CAD 5,000 (approximately USD 3,600) through a cryptocurrency ATM at the end of last year. Earlier this year, the victim saw a message online disguised as an RCMP announcement encouraging fraud victims to report their cases.After submitting a form, a person claiming to be a lawyer called, stating that they had found two cryptocurrency accounts related to the victim and could help recover about USD 60,000 in so-called profits. Gary O'Brien, a media relations officer with the Nanaimo RCMP, stated that the RCMP does not contact individuals regarding discovered cryptocurrency accounts, does not collaborate with private companies to recover lost funds, and does not request any form of payment to investigate fraud.Andy Zhou, co-founder and CEO of blockchain security company BlockSec, stated that such tactics are known as "false recovery service scams" and have systematic characteristics. Scammers often possess victim information collected from the original scam, and organized fraud rings circulate lists of previously remitted victims, making these individuals targets for secondary scams.The effectiveness of impersonating law enforcement brands lies in exploiting the psychological mechanism of "authority bias." Canadian police have been conducting cryptocurrency investigation training since 2022.

U.S. Senators Elissa Slotkin (Democrat) and Jerry Moran (Republican) introduced the Strengthening Agency Frameworks for Enforcement of Cryptocurrency Act (SAFE Act) this Monday. The bill aims to coordinate the actions of the U.S. Department of the Treasury, law enforcement agencies, regulatory bodies, and the private sector to combat cryptocurrency fraud and scams.Gabriel Shapiro, Chief Legal Officer of Delphi Labs, stated on the X platform that if the bill is effectively implemented, cryptocurrency fraudsters and scammers may feel panic. He pointed out that senior officials, including the U.S. Attorney General, the director of the Financial Crimes Enforcement Network (FinCEN), and the director of the U.S. Secret Service, will be involved in pursuing cryptocurrency criminals. The FBI reported that in 2024, Americans lost $9.3 billion due to cryptocurrency-related investment scams, a 66% increase from 2023.

ChainCatcher news, according to a statement released by the official X platform, New Hope Technology Holdings Limited (hereinafter referred to as "New Hope Technology," including any subsidiaries under New Hope, such as New Hope Asset Management (Hong Kong) Limited, which holds licenses for regulated activities under categories 1, 4, and 9 from the Hong Kong Securities and Futures Commission) has recently received information indicating that fraudsters are impersonating New Hope Technology to deceive investors into transferring funds/recharging investments to the fraudsters.New Hope Technology emphasizes that the company will not request any form of fund transfer/recharge investment through any channels. Communication between New Hope and clients will only be conducted through the methods published on the official website (www.sinohope.com). If any investors encounter individuals claiming to be New Hope employees or representatives through any other channels, please avoid providing any personal or financial information.Investors should refer to the Hong Kong Securities and Futures Commission's warning list and, when encountering suspected fraud cases, call the Hong Kong Police Force's "Anti-Fraud Hotline 18222" for assistance.If you need to verify the identity of New Hope employees or representatives, you can contact New Hope through the official New Hope Technology Twitter (@SinohopeGroup).

ChainCatcher news, according to official sources, the Hong Kong Securities and Futures Commission (SFC) reminds the public to be vigilant against fraudsters impersonating the SFC to carry out scam activities. The agency has discovered that scammers are posing as certain senior management personnel of the SFC and well-known stock commentators, contacting the public through phishing emails and forged documents.These scammers include those impersonating the Executive Director of the Regulatory Enforcement Division, Mr. Christopher Wilson, sending fraudulent emails in an attempt to install malware or ransomware on the computers of recipients who reply to the emails, as well as impersonating the Chief Financial Officer of the SFC, Mr. Wen Zhiyao, sending phishing emails under the guise of a "data verification process" to attempt to extract contact information from recipients, targeting SFC licensed corporations and their employees.The Hong Kong SFC emphasizes that all of the above messages and claims are false and urges the public to remain vigilant when dealing with communications of unknown origin.

ChainCatcher news, according to Decrypt, the FBI has issued an urgent warning stating that scammers are posing as law firms and government employees to carry out secondary scams against victims of cryptocurrency fraud. Criminals exploit precise details about the victims to gain trust, demanding payment of "service fees" or inducing clicks on phishing links. By 2024, deepfake technology is expected to account for 40% of high-value cryptocurrency fraud cases.

ChainCatcher news, according to Hong Kong Television Broadcasts Limited (TVB), there have been recent fake news reports circulating online, claiming that Li Ka-shing shared cryptocurrency investment insights on a TVB news program. The false report mimics the layout of local English media websites, claiming that a specific cryptocurrency platform can turn an investment of 2,000 HKD into a million-dollar return within four months.The report also fabricated a scenario in which the Hong Kong Monetary Authority intervened and blocked related content. TVB has reported this fraudulent activity to the police and urged the public to remain vigilant and carefully verify information from unknown sources.

ChainCatcher news, according to Finance Magnates, the Malta Financial Services Authority (MFSA) has issued a public warning that scammers are forging documents from the Maltese financial regulatory authority to extort money from traders under the pretense of fictitious market manipulation fines, urging users to remain vigilant.This scam primarily targets Bitcoin and Ethereum traders. The MFSA stated that fraudsters send fake documents to individuals involved in BTC and ETH trading, claiming they have been fined for alleged market manipulation and threatening regulatory action if they do not comply. The MFSA confirmed that these threats are entirely fabricated and that the related documents have no legal validity. These forged letters meticulously mimic the MFSA's logo in an attempt to deceive recipients into making payments.

According to ChainCatcher, as reported by Cryptopolitan, the Busan District Court in South Korea sentenced three cryptocurrency investment fraudsters to prison for violating the Specific Economic Crimes Aggravated Punishment Act. The main perpetrator was sentenced to four and a half years in prison, while the two accomplices received sentences of three and a half years and two and a half years, respectively. The three conducted illegal cryptocurrency investment activities in a building in Busan in June 2019, claiming to possess an algorithm capable of trading from approximately 1,000 high-quality cryptocurrencies worldwide, promising investors a 30% monthly return on investment. In reality, they had no trading algorithm, and the funds raised, approximately 610 million won (about $416,000), were used for personal consumption.

ChainCatcher message, Bybit posted on platform X to remind that there are fraudsters impersonating Bybit employees, urging the community to stay vigilant.Bybit will never ask for personal information, deposits, or passwords. Always verify official sources of information carefully and report any suspicious situations. If something feels off, it probably is, so stay safe.

ChainCatcher news, according to Beincrypto, scammers have taken advantage of the hype surrounding the TRUMP token released by Trump last week, sending fake coins to wallets associated with the TRUMP team and its creators, leading cryptocurrency traders closely monitoring these wallets to mistakenly purchase these worthless tokens. They believed that the Trump meme coin team intended to buy these tokens and had insider information. The scammers anticipated this behavior and profited from it.According to data from Global Ledger, four scam tokens related to Trump have generated at least $857.5 million in revenue. These tokens—JMilei, MELON, WTRUMP, and PUTIN—have been cashed out on multiple major exchanges. Further investigation revealed that the PUTIN, KING, and BUFFET tokens are associated with the same deposit wallet on Binance. These wallets have collectively withdrawn $91.3 million. This pattern suggests that the same entity or group may have created and cashed out these tokens.

ChainCatcher news, according to Cointelegraph, the Financial Intelligence Unit (FIU) of Nepal has found that despite the official ban on trading digital assets, cryptocurrencies are still widely used to facilitate online fraud.The Financial Intelligence Unit is a specialized department of Nepal Rastra Bank, the central bank of Nepal, responsible for monitoring and combating financial fraud, including money laundering and terrorist financing.In the "Strategic Analysis Report" released on November 18, the Financial Intelligence Unit noted an increase in the use of cryptocurrencies for money laundering by criminals. The report stated that fraudsters convert illegal funds into cryptocurrencies, which poses challenges for authorities in tracking and recovering the funds.

ChainCatcher news, a report from the United Nations shows that Telegram has become a haven for criminal networks in Southeast Asia, helping them to launder money using cryptocurrency, trade hacked data, and acquire fraud tools.The United Nations states that end-to-end encrypted applications have fundamentally changed the way organized crime operates. Criminal enterprises in Southeast Asia generate annual revenues between $27.4 billion and $36.5 billion.It has been reported that unlicensed cryptocurrency exchanges are also advertising money laundering services on the app. An advertisement identified by the United Nations claims, "We transfer 3 million USDT stolen from overseas every day."Criminal networks use Telegram to trade stolen sensitive information, from credit details to passwords, and purchase malware designed to steal funds. At least 10 deepfake software providers have also been found promoting their services to criminals.

ChainCatcher news, Trump posted on the X platform stating that he is closely monitoring the sanctity of the 2024 presidential election with many lawyers and legal scholars. "The Democrats' rampant cheating and conspiracy in the 2020 presidential election. Therefore, the 2024 election, which has just begun voting, will be subjected to the strictest professional scrutiny, and when I win, those who cheated will face comprehensive legal prosecution, including long prison sentences, so that this judicial decay does not happen again."

ChainCatcher message, BitForex posted on platform X that it has recently noticed an increasing number of fraudsters claiming they can help users withdraw assets from BitForex, reminding users not to trust them. The only way to withdraw assets is through the BitForex official website (when it reopens).

ChainCatcher message, Bitrace reminds users on social platforms to be cautious of phishing contracts related to Blast, with fraudsters impersonating Paradigm co-founder Matt Huang promoting the phishing link blast.invie[.]io, which has currently resulted in over $130,000 in financial losses.

ChainCatcher News, the U.S. Commodity Futures Trading Commission (CFTC) has issued an order while filing and settling charges against Jacob Orvidas. The order finds that Orvidas fraudulently solicited at least four individuals (pool participants) to engage in leveraged Bitcoin trading in a commodity pool, nearly losing all trading funds, and then falsely claimed to the pool participants about the losses and the availability of funds.The order also finds that Orvidas was not registered as a commodity pool operator. The order requires Orvidas to pay over $2 million in restitution and a $500,000 civil penalty, and to cease and desist from further violations of the Commodity Exchange Act. Additionally, the order imposes a 10-year registration and trading ban on Orvidas.Previously, from October 2017 to July 2020, Orvidas solicited at least 4 participants to trade leveraged Bitcoin in his commodity pool, promising them excessive profits and fund protection. The participants contributed over $2 million to the pool, after which Orvidas lost nearly all of the trading funds. To cover up the losses, Orvidas provided the pool participants with fictitious spreadsheets, claiming to reflect trading profits and high account balances, and falsely stated that he could not pay these profits and return the principal. Ultimately, the participants lost over $2 million.

ChainCatcher news, Blur's official tweet states that there will be two important changes this week: 1. Bidders must cancel their bids before accepting a lower bid. This will take effect starting tomorrow. 2. The first phase of the filter against bidding fraudsters will be launched later this week.Currently, when accepting bids, the seller's own bid is skipped. This prevents self-trading, but it makes it difficult for other traders to determine what the "true" highest bid is. Bid acceptance will no longer skip the seller's own bid. Sellers must cancel their bids in order to sell at a lower bid. (Source link)