scam

A New York man was sentenced to 15 months in prison and 3 years of supervised release by a U.S. court for impersonating a cryptocurrency influencer on Telegram and using false staking returns as bait to defraud investors. 39-year-old Noman Saleem pleaded guilty to wire fraud in September 2025.Prosecutors stated that he created multiple fake Telegram accounts impersonating well-known crypto KOLs and attracted thousands of people to join his channels, even setting up paid "VIP sub-channels." Saleem claimed to victims that he could provide "guaranteed returns" through crypto staking or investment opportunities, inducing many to transfer their crypto assets into wallets under his control. However, prosecutors indicated that he did not actually engage in any staking operations and ceased communication after obtaining the funds, taking the victims' assets with him.The case resulted in losses exceeding $1.4 million, and the U.S. government has recovered and seized most of the funds.

According to on-chain analyst ZachXBT, an address related to the $575 million Hashflare investment scam (0xff57...5d22) has transferred 10,600 ETH (approximately $18.5 million) about 3 hours ago after being dormant for 3.5 years.The two Estonian founders of the case, Sergei Potapenko and Ivan Turogin, pleaded guilty in 2025 and forfeited approximately $450 million in assets to the U.S. government. The transferred funds were then laundered through HiFiSwap and Near Intents, crossing from Ethereum to Bitcoin, using two instant exchange platforms. The fund flow addresses include 0xc82f...9d04 and 0x3297...2527.

According to the "Мошеловка" platform, scammers impersonate authorized brokers of the Moscow Exchange through social media, luring users to click phishing links under the pretext of "testing cryptocurrency trading channels," resulting in theft of funds and information. The Moscow Exchange emphasizes that all official trading must be conducted through licensed brokers, and there are no exclusive cryptocurrency purchasing channels for ordinary users.According to data from the Russian IT company "Shard," in 2025, Russian users are expected to lose approximately 234 million rubles due to cryptocurrency phishing, accounting for 62% of the total losses in cryptocurrency assets that year.

"On-chain detective" ZachXBT published a case analysis stating that in a cryptocurrency asset case involving an Indian scam gang, the relevant individuals reported the case to law enforcement after their assets were frozen, drawing attention. The incident began when a user sought help, claiming that approximately 5.73 BTC (about $475,000) was frozen on Changelly in March 2025.Subsequent on-chain analysis revealed that these funds could be traced back to multiple social engineering attacks and theft cases related to Bitcoin ATMs targeting U.S. users, with a total amount involved exceeding $1 million and several elderly victims. The investigation showed that the individual provided multiple changing explanations for the source of the funds, including "loan," "boss transfer," and "investment from 2014-2015," and there were significant contradictions in the evidence chain.More concerning is that this user had previously filed a police report in India in December 2025, attempting to recover the frozen funds (case number 3207-P/2025). Subsequent on-chain evidence collection and email data analysis indicated that they might be a "mule" for transferring funds, with some bank documents inconsistent with their identity information. ZachXBT noted that such cases demonstrate that social engineering attacks and cross-border fund transfers continue to occur and remind users to avoid interacting with funds from suspicious sources to prevent triggering compliance freezes or legal risks.

According to the U.S. Department of Justice, Rodney "Bitcoin Rodney" Burton, a resident of Miami, Florida, has pleaded guilty in federal court, admitting to participating in a cryptocurrency fraud scheme related to HyperFund, with an amount involved of approximately $1.8 billion.The U.S. Department of Justice stated that the project raised funds from investors through global financing and was used during its operation to promote fund transfers, constituting a large-scale cross-border telecommunications fraud network. Burton faces a maximum of 5 years in federal prison, with sentencing hearings scheduled for July 23. Law enforcement agencies indicated that the case is being jointly investigated by the IRS Criminal Investigation Division and the Department of Homeland Security Investigations.

According to Bloomberg, the U.S. government has seized nearly $9 million in USDT, stating that the related funds can be traced back to an organized fraud network.The U.S. Department of Justice stated that this operation targeted a scam model commonly known as "pig butchering," where the involved gang gained the victims' trust by establishing fake romantic or personal relationships and induced victims to transfer money with fabricated cryptocurrency investment returns.

According to local media in Hong Kong, on June 5, the Hong Kong police received a report from a man who claimed that he was scammed out of 1.6 million USDT by a counterfeit exchange while exchanging virtual currency, which is worth approximately 14 million Hong Kong dollars. After preliminary investigation, the police classified the case as "obtaining property by deception" and handed it over to the 10th team of the Mong Kok District Criminal Investigation Unit for follow-up, with no arrests made yet. The police remind citizens that obtaining property by deception is a serious crime, and upon conviction, the maximum penalty can be imprisonment for fourteen years.

A female tycoon in the domestic cryptocurrency circle encountered an investment scam in the United States, resulting in a loss of over $9.4 million (approximately 60 million yuan). Reports indicate that this individual is a certain Lv, the CEO of a computing power technology company in Southwest China, whose mining pool reportedly accounted for about 9% of the global Bitcoin total computing power at its peak.The report pointed out that two brothers, claiming to have a "Middle Eastern royal family" background, carried out the scam by forging identities. One of them claimed to be a "Middle Eastern royal family son-in-law" and asserted that he controlled funds from Middle Eastern families, international business relations, and resources from local governments in the United States; the other mimicked a character from the American drama "Billions," presenting himself as a hedge fund manager. The two also successfully contacted and influenced Michael Smedley, the chief of staff to the mayor of East Cleveland, Ohio, ultimately inducing Lv to sign a cryptocurrency mining field development contract.

According to The New York Times, Canadian man Trenton Johnston pleaded guilty in a federal court in Florida, admitting to participating in a money laundering conspiracy involving approximately $13 million, with funds sourced from cryptocurrency fraud. Prosecutor documents show that Johnston, over a two-year period, impersonated representatives of Google and cryptocurrency companies to lure victims into giving up their account access, and conspired with accomplices to transfer and hide illegal proceeds for luxury spending, including luxury cars, jewelry, nightclub expenses, and private jet travel.In March 2024, he was pulled over by police for speeding in a Rolls Royce in Miami, where there was a suspected smell of marijuana and illegal drugs in the vehicle, leading to a subsequent investigation that uncovered his long-term involvement in cryptocurrency fraud. The case also revealed that he had scammed a California resident out of approximately 185 bitcoins (worth about $13 million) using social engineering tactics. Data from the FBI indicates that losses related to cryptocurrency theft exceeded $11 billion in 2025, an increase of about 20% year-on-year. Currently, Johnston, as a first-time offender, has reached a plea agreement with prosecutors and is expected to face a prison sentence of 4 to 5 years, after which he will be deported to Canada.

According to the Bangkok Post, Thai police raided a scam base in the Saraphi district of Chiang Mai province, arresting 10 Chinese citizens and seizing 67 mobile phones, 7 iPads, and 13 laptops.

Recently, the Haidian Court in Beijing, China, made a ruling on a fraud case. Retired elderly man Meng, due to his obsession with virtual currency trading and unwillingness to use his pension, disguised himself as a "Central Ministry" staff member in his 20s named Xiao Hong on a short video platform and established an online romantic relationship with a young man. Meng deceived the young man out of over 200,000 yuan by claiming that his family member was ill and urgently needed surgery, and for other reasons such as preparing for an overseas exam.Meng invested all the over 200,000 yuan he defrauded into virtual currency trading and opened a tenfold leverage account. Subsequently, due to a market downturn, he faced liquidation, resulting in a total loss of funds. The Haidian Procuratorate previously prosecuted Meng for fraud, and the Haidian Court ultimately sentenced Meng to 4 years in prison and imposed a fine, while also ordering him to compensate the victim for their economic losses.

According to Decrypt, Geoffrey K. Auyeung, a resident of the Seattle area in Washington State, was sentenced to 5 years in prison for his involvement in a cryptocurrency money laundering scam. Prosecutors stated that he assisted a criminal gang in defrauding victims under the guise of oil and gas investments from 2022 to 2024, with a total amount involved of approximately $97.1 million.Auyeung was responsible for receiving the proceeds of the scam and transferring them to his accomplices by purchasing cryptocurrencies such as BTC, ETH, USDT, and USDC to obscure the flow of funds. Prosecutors pointed out that he continued to contact his accomplices even after being charged and arrested, and received illegal proceeds through his wife's bank account. Investigations revealed that Auyeung earned at least approximately $4 million in commissions, and over $2.3 million in bank deposits, approximately $7.1 million in cryptocurrency, and a car have been seized. Most of the funds were ultimately converted into cryptocurrency through platforms such as Gemini, Bitstamp, and Coinbase before being transferred to Binance.

According to CriptoNoticias, Spanish citizen David Merino was arrested in Dubai for allegedly leading the cryptocurrency Ponzi scheme FX Winning. This scheme is the largest cryptocurrency-related Ponzi scheme in the history of Spanish investigations, involving over 460 million euros and affecting approximately 15,000 investors. Merino operated the scheme from behind the scenes after officially leaving the company in 2021, attracting funds by promising high returns on forex and cryptocurrency investments. Its operating model involved using funds from new investors to pay early investors, and the scheme operated in about 30 countries.Spain typically has 15 to 40 days to submit extradition documents to the UAE. Additionally, FX Winning is also under investigation in the United States and Mexico, with the U.S. Drug Enforcement Administration believing the scheme involves 100 billion dollars. Merino released a video in March 2026 denying that he retained others' funds and placing the blame on other members of his team. The Spanish National Securities Market Commission has warned since 2021 that FX Winning is unauthorized to provide investment services.

According to The Block, the U.S. SEC has filed a lawsuit in the federal court in Houston, accusing Nathan Fuller, a resident of Cypress, Texas, of operating a cryptocurrency scam project involving up to $12.3 million, which used fraudulent artificial intelligence trading bots to defraud investors.Nathan Fuller told investors that his proprietary AI-based bot could automatically scan cryptocurrency trading platforms, capturing small price gaps through high-frequency arbitrage, and promised returns of 40% to 50% within 30 to 45 days. Some investors were even told they could receive guaranteed returns of over 100% within 21 days.The SEC stated that Nathan Fuller, founder and sole member of Privvy Investments LLC, raised these funds from approximately 150 investors located in nine states and two foreign countries between October 2022 and mid-2024. He also conducted business under the alias "Gateway Digital Investments."It is alleged that only about 3% of the funds were actually used for cryptocurrency trading, while Fuller personally siphoned off at least $6.2 million and paid approximately $5.5 million to early investors in a manner similar to a Ponzi scheme.

The U.S. Securities and Exchange Commission (SEC) announced the indictment of Texas resident Nathan Fuller, accusing him of committing fraud through a cryptocurrency trading scheme, raising approximately $12.3 million from about 150 investors. The SEC pointed out that Fuller sold related investment products to investors through entities such as Privvy Investments from October 2022 to mid-2024, claiming to use a self-developed AI trading robot for high-frequency arbitrage trading in cryptocurrency assets.According to the indictment, Fuller promised investors returns of over 40%-50% within 30 to 45 days and claimed that guaranteed returns of over 100% could be achieved in as little as 21 days. The SEC stated that the AI trading robot did not operate as advertised, Fuller misappropriated at least $6.2 million of investor funds for personal expenses, and used approximately $5.5 million for payouts similar to a Ponzi scheme, while misleading investors through forged account statements and false documents.

According to FinanceFeeds, the Australian Securities and Investments Commission (ASIC) has issued a warning that scammers are defrauding retail investors through messaging apps like WhatsApp and fake cryptocurrency trading platforms. Scammers typically post investment advice on social media to attract users to join message groups disguised as well-known financial figures or trading communities, then lure them into depositing funds into fake platforms. These platforms simulate profits by fabricating trading data, and when users attempt to withdraw funds, they are asked for additional "unlock fees," with all funds flowing directly into the scammers' accounts.Additionally, scammers are targeting investors who have already suffered losses by promoting fake "fund recovery services" for secondary fraud. According to Moneysmart survey data, 23% of Australians aged 18 to 28 hold cryptocurrency assets, 72% of Generation Z have seen cryptocurrency ads on social media, and 41% have been directly persuaded to invest in cryptocurrencies, indicating a significantly higher risk exposure among the younger demographic. ASIC advises investors to be cautious of investment advice on social media and recommends verifying the compliance qualifications of platforms through the AUSTRAC virtual asset service provider register.

According to GoPlus security alerts, phishing scams promoting black U and anti-money laundering detection websites have appeared on the X platform. Investigations reveal that the website is a phishing site hosted on the Vercel platform, aimed at tricking users into authorizing their wallets, so please do not interact.GoPlus recommends: try to avoid private transactions and use the OTC features of centralized exchanges; maintain a high level of suspicion towards unfamiliar links, especially those requiring wallet signatures or authorizations; remember the "four no choices" to prevent phishing: do not click on unfamiliar links, do not install software from unknown sources, do not sign transactions with unclear content, and do not transfer funds to unverified addresses.

XRPL developer Wietse Wind has issued a latest security warning to the XRP community, stating that recent scam activities targeting Xaman Wallet users are on the rise. Scammers are currently promoting fake desktop wallet applications and counterfeit airdrop activities to lure users into connecting their wallets or downloading malicious programs, thereby stealing funds. Wietse Wind reminds users not to connect their wallets to suspicious websites and not to download any unofficial applications to avoid asset loss.

XRPL developer Wietse Wind has issued a latest security warning to the XRP community, stating that there has been an increase in scam activities targeting Xaman Wallet users. Scammers are currently promoting fake desktop wallet applications and counterfeit airdrop activities to lure users into connecting their wallets or downloading malicious programs, thereby stealing funds.Wietse Wind reminds users not to connect their wallets to suspicious websites and not to download any unofficial applications to avoid asset loss.

The Internet Crime Complaint Center (IC3) under the FBI in the United States has released data showing that in 2025, IC3 received over 13,400 complaints regarding the use of cryptocurrency kiosks, with losses exceeding $388 million. Compared to 2024, the number of complaints increased by 23%, and the amount of losses increased by 58%. More than half of the complaints involved individuals over the age of 50, with losses exceeding $302 million.Cryptocurrency kiosks are devices or electronic terminals similar to ATMs that allow users to exchange cash and cryptocurrency. Criminals may lure victims into sending money through cryptocurrency kiosks. In typical complaints received by IC3 regarding cryptocurrency kiosks, criminals provide individuals with detailed instructions on how to withdraw money from banks, how to locate kiosks, and how to use the kiosks for deposits and remittances. IC3 warns that the relevant statistics pertain to scam complaints involving cryptocurrency ATMs, and the overall losses may not be solely caused by cryptocurrency ATMs alone.