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From phishing texts to ‘pig butchering’ romance scams, cryptocurrency fraud is on the rise. Here’s how to spot scams before it’s too late. The FBI says crypto fraud cost Americans $5.6 ...
That zips the money directly to the thieves' crypto wallet. The bottom line, according to the FTC: "Don't believe anyone who says you need to use a Bitcoin ATM to protect your money or fix a problem.
How to avoid this scam: Only download apps from trusted locations, such as official app stores. Protect your account with multi-factor authentication, a PIN or facial recognition. Use a strong ...
A pig butchering scam (in Chinese sha zhu pan [2] or shazhupan, [3] (Chinese: ĉçŞç), translated as killing pig game) [1] is a type of long-term scam and investment fraud in which the victim is gradually lured into making increasing contributions, usually in the form of cryptocurrency, to a fraudulent cryptocurrency scheme.
Massachusetts police said they paid a 2 bitcoin ransom in November 2013, worth more than $1,300 at the time, to decrypt one of their hard drives. [137] Bitcoin was used as the ransom medium in the WannaCry ransomware. [138] One ransomware variant disables internet access and demands credit card information to restore it, while secretly mining ...
[20] [21] The app was officially released on Google Play in September 2021 and the App Store in October 2021. [22] Critics dubbed the wallet to be a copy of the Trust Wallet owned by Binance. [ 19 ] Thomas Smith, who was the CTO for Safemoon, left the company in December 2021 for a role as a blockchain advisor for StrikeX , however, was ...
On November 9, 2021, a raid on his Gainesville, Georgia, home resulted in the seizure of about 50,676 bitcoin, then valued at over $3.36 billion. [8] Zhong cooperated with investigators, forfeited all of his bitcoin and pled guilty to one count of wire fraud. [9] In April 2023, Zhong was sentenced to a year and a day in prison. [1]
Fraudsters are using ads featuring a fake Jeremy Clarkson endorsement as part of a Bitcoin scam. Watchdogs are warning social media users about the ads, which urge people to invest in cryptocurrency.