In a recent crypto investigation, the US FBI successfully infiltrated a group of Indian citizens suspected of engaging in illicit activities involving the exchange of cryptocurrency for over $15 million in cash. The alleged transactions took place at various locations in Westchester County, with the group catering to customers seeking anonymity for their activities. Crypto…
On-chain detective ZachXBT has shared details of the massive crypto Ponzi scheme that took over $150 million from unsuspecting victims before collapsing last week. Related Reading The Mechanics Behind The $150M Crypto Ponzi In a series of X posts, ZachXBT unveiled the details of a Ponzi scheme that had been operating under the DSJ Exchange…
Crypto hacks and scams are nothing new in the crypto space, but every time they happen, they still come as a shock to investors. Most especially the victims of these attacks. Bull markets always seem to come with an increased number of attacks. So with a bull market that has raged on for the better…
The FBI created its own cryptocurrency token, NexFundAI, to bait and catch bad actors. The FBI recently revealed a novel tactic in its fight against cryptocurrency crime: the creation of its own cryptocurrency, NexFundAI. Developed in secrecy as part of a sting operation, the Ethereum-based token was designed to expose and dismantle pump-and-dump schemes, a…
As the crypto market continues to attract substantial investments, it has also witnessed a surge in scams and fraudulent activities. Regulatory institutions worldwide, spearheaded by the United States, seem to intensify their efforts to combat cyber threats, hacks, and frauds that affect the industry. However, the nascent sector is far from the only one suffering…
Reggie Fowler, a former owner of NFL team Minnesota Vikings, has been meted a six-year prison sentence by a New York judge because of his involvement in a crypto fraud scheme. This scheme encompassed more than $700 million in unregulated transactions carried out over a period of 10 months in 2018. The 63-year-old Vikings co-owner…