Latest News and Articles about Crypto Fraud
Debiex Hit with $2.5M Fine for Romance Crypto Scam: CFTC Crackdown
Debiex Ordered to Pay $2.5M After CFTC Alleges Romance Scam Operation An Arizona federal court has ordered Debiex, a crypto trading platform, to pay nearly $2.5 million following a lawsuit by the U.S. Commodity Futures Trading Commission (CFTC). The court’s decision came after the CFTC accused Debiex of operating a “pig butchering” romance scam, defrauding […]
Read MoreSam Lee’s $1.89B HyperVerse Ponzi Scheme Exposed: DOJ and SEC Charges
Sam Lee Crypto Scam: Inside the $1.89B HyperVerse Ponzi Scheme Sam Lee, once hailed as Australia’s “crown prince of Bitcoin,” has fallen into disgrace, accused of orchestrating a colossal $1.89 billion Ponzi scheme through HyperVerse and HyperFund. The U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have charged him with defrauding thousands […]
Read MoreSouth Korean “Coin King” Jonbur Kim Park Re-Arrested for $47M Artube Coin Fraud
South Korean Crypto Figure Jonbur Kim Park, “Coin King,” Re-Arrested for $47M Artube Coin Fraud Jonbur Kim Park, the notorious “Coin King,” is back in custody after being re-arrested for a $47 million cryptocurrency fraud involving Artube coin, mere weeks after his release on bail for a previous scam. This latest incident not only showcases […]
Read MoreSEC’s New CETU Targets Crypto and AI Fraud: Laura D’Allaird Leads 30 Experts
SEC Launches Cyber and Emerging Technologies Unit to Combat Crypto and AI Fraud The U.S. Securities and Exchange Commission (SEC) has launched the Cyber and Emerging Technologies Unit (CETU) to tackle fraud in the cryptocurrency and AI sectors. Led by Laura D’Allaird, this new unit aims to enhance investor protection while fostering innovation. The CETU […]
Read MoreHo Kai Xin Jailed for 9 Years After $4M ByBit Fraud: A Wake-Up Call for Crypto Security
ByBit Fraudster Ho Kai Xin Sentenced to Nearly a Decade in Prison for $4 Million Crypto Heist Ho Kai Xin, a 32-year-old Singaporean woman, has been sentenced to nearly a decade behind bars for defrauding ByBit of over $4 million in digital assets through an audacious internal fraud scheme. Ho manipulated payroll to steal over […]
Read MoreCrypto Fraud Soars: Pig Butchering Scams Up 210%, Global Spread Intensifies
As Crypto Fraud Expands, Pig Butchering Scams Skyrocket 210% The cryptocurrency landscape, celebrated for its potential to revolutionize finance, is grappling with a surge in fraudulent activities. Recent data from Chainalysis, a company that tracks fraud on the blockchain, reveals a significant shift in scammers’ tactics, moving away from targeting high-value victims to ensnaring more […]
Read MoreNigeria Busts $3M Global Crypto Scam, 53 Charged Including 29 Chinese
Crypto Fraud Alert: Nigeria Unmasks Global Scam, 53 Charged In a bold move that rocked the world of cryptocurrency, Nigerian authorities have unveiled a global scam operation in Lagos, resulting in the arrest of 53 individuals from various nationalities, including 29 Chinese nationals. The “Eagle Flush Mission” operation exposed a sophisticated network that handled over […]
Read MoreHong Kong SFC Cracks Down on 33 New Crypto Scams, Licenses 2 More Exchanges
Hong Kong SFC Steps Up Crypto Oversight Amid Fraud Surge Hong Kong’s Securities and Futures Commission (SFC), the region’s financial regulator, has flagged 33 new websites impersonating the licensed crypto exchange HashKey, bringing the total number of reported impersonators to 45. This development follows the collapse of the unlicensed JPEX platform, which defrauded investors of […]
Read MoreNorth Dakota’s HB 1447 Targets Crypto ATM Fraud with Strict Limits
North Dakota’s House Bill 1447: A Bold Move to Safeguard Crypto ATM Users North Dakota has stepped up to tackle the escalating issue of cryptocurrency fraud with the introduction of House Bill 1447, aiming to protect users of crypto ATMs from financial exploitation. House Bill 1447 targets crypto fraud with ATM transaction limits and fee […]
Read MoreCrypto Godfather and Ex-Cop Guilty of $37M Meta Fraud and Tax Evasion
Crypto Godfather and Ex-LA Cop Plead Guilty to Tax Evasion and Crypto Fraud Adam Iza, known as “The Godfather” and the founder of Zort, a cryptocurrency trading platform, along with former LA County sheriff’s deputy Eric Saavedra, are set to plead guilty to multiple federal charges, including tax evasion, wire fraud, and conspiracy against rights. […]
Read MoreWolf Capital CEO Admits to $9.4M Crypto Fraud, Faces 5 Years in Prison
Wolf Capital CEO Pleads Guilty in $9.4M Crypto Fraud Case Travis Ford, the 35-year-old CEO of Wolf Capital Crypto Trading LLC, has admitted to defrauding nearly 2,800 investors out of $9.4 million. This case serves as a sobering reminder of the persistent risks of fraud within the cryptocurrency sector, where the allure of high returns […]
Read MoreWolf Capital Co-Founder Guilty of $9.4M Crypto Fraud, Industry Loses $1.49B in 2024
Crypto Firm Co-Founder Pleads Guilty to $9M Wire Fraud Scheme Travis Ford, co-founder of Wolf Capital, has pleaded guilty to wire fraud conspiracy after defrauding over 2,800 investors out of $9.4 million. His promises of daily returns of 1-2%, equating to an astronomical 547% annually, have been exposed as a mirage. This case underscores the […]
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