Circle Society, Corp., and its owner, David Gilbert Saffron, have been charged with fraud relating to an Bitcoin and crypto asset investment scheme. The Nevada-based firm is suspected of operating an $11 million binary options scheme. The charges have been brought by the CFTC. Curiously, the chair of the US financial regulator said such scams…
In a case that could set a precedent in the United Kingdom, a 37-year-old trader has pleaded not guilty to charges related to operating an illegal cryptocurrency ATM business Habibur Rahman, a 37-year-old trader from East Ham, London, has pleaded not guilty to charges related to operating an illegal cryptocurrency ATM business and laundering approximately…
Blockchain analytics firm Chainalysis puts the number at close to $20 billion — the estimated volume of dirty money that flowed through Xinbi, a Chinese-language crypto marketplace, between 2021 and 2025. Now the UK government wants to shut it down. Related Reading Scam Hubs At The Center Of It All Britain’s Foreign, Commonwealth & Development…
A US investor says he lost $3 million in XRP after hackers emptied his wallet, and blockchain tracking suggests the funds moved fast through shadowy over-the-counter networks tied to Southeast Asia. Related Reading Funds Traced To OTC Networks According to blockchain sleuth ZachXBT, the stolen coins were first pooled into a single Tron address and…
The former CEO of a cryptocurrency company has been sentenced to prison time and ordered to pay $9 million in restitution due to his company’s role in a major Ponzi scheme that cost hundreds of investors millions of dollars. The hearing comes as the U.S. government and regulatory agencies step up their crackdown on cryptocurrency-related…
Total fraud losses cleared $12.5 billion in 2024, a 25% rise from the prior year. The jump tracks a clean shift in tactics. Criminals dropped obvious phishing attempts in favor of AI-tuned attacks calibrated to whichever industry has the softest controls on a given day. British data captures the trajectory: deepfake attempts rose 94% in…
What does a OneLife-produced event look like? Is the organization that supports the OneCoin community competent enough to produce a beauty pageant? The answer to those questions might surprise you. For this fourth episode, Jamie Bartlett and Georgia Catt go into the lion’s den. They travel to Bucharest, Romania, and witness the Miss OneLife coronation.…
Decentralized finance (DeFi) platforms have been the target of criminal attacks this year. Investors in the blockchain-based form of finance have lost billions of dollars to criminals that target the platforms. The total amount of money deposited at DeFi services has spiked from just $500 million in 2019 to $247 billion this year. Related Reading | Dog-Themed…
At the same time, static fraud rules haven’t kept up. Attack methods shift quickly, and most platforms operate across multiple jurisdictions, each with its own compliance expectations. That combination makes rigid models for detecting synthetic identities difficult to rely on. As a result, many crypto companies are moving toward AI-driven fraud systems that can be…
Between Harvey, Irma, Maria, and now Florence, the United States has seen an unprecedented amount of disastrous natural disasters that have devastated communities and have left billions of dollars’ worth of damages in their wake. Ethereum’s blockchain is now potentially being used to solved many of the resulting problems. The sheer number of insurance requests…