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A new report from the Federal Trade Commission (FTC) shows that money lost to fraudulent bitcoin ATM scammers increased nearly tenfold between 2020 and 2023. Per the spotlight report published on ...
In 2023, consumers reported $114 million in losses from scams involving BTMs — a nearly 900% increase over the preceding three years, the FTC said Tuesday in a report. Losses through June of ...
Notably, crypto-related investment scams are the most reported to the CAFC, yet fewer than 5% of scams are reported overall, suggesting the true scale of the issue is likely much larger.
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.
A major bitcoin exchange, Bitfinex, was compromised by the 2016 Bitfinex hack, when nearly 120,000 bitcoins (around US$71 million) were stolen in 2016. [61] Bitfinex was forced to suspend its trading. The theft was the second-largest bitcoin heist ever, dwarfed only by the Mt. Gox theft in 2014.
On July 15, 2020, between 20:00 and 22:00 UTC, 130 high-profile Twitter accounts were reportedly compromised by outside parties to promote a bitcoin scam. [1] [2] Twitter and other media sources confirmed that the perpetrators had gained access to Twitter's administrative tools so that they could alter the accounts themselves and post the tweets directly.
Scams and fraud can come in the forms of phone calls, online links, door-to-door sales and mail. Below are common scams the New Jersey Department of Consumer Affairs warns of. Common phone scams:
Call it a diabolical new twist on an old scam: ATM fraudsters are turning to bitcoin. Data the Federal Trade Commission provided to NBC News show the amount of money consumers have reported losing ...