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7. Crypto Ponzi: Mining or Staking Pool Scams. In the cryptocurrency space, Ponzi scams often target mining and staking pools, taking advantage of investors eager to engage with blockchain technology.
These scams involve fraudulent investments where the scammer requests payment in cryptocurrency. This type of digital currency only exists in electronic form, making it harder to trace.
BOSTON (Reuters) -Three cryptocurrency companies and 15 people have been charged with engaging in widespread fraud and market manipulation following an investigation in which the FBI for the first ...
Exit scams are commonly associated with the rise of cryptocurrency projects due to the lack of regulation and decentralized ecosystem. [3] Conversely, purchasers can also perpetrate exit scams if, while secretly planning to close their business and/or abscond, they procure goods and services for which they do not intend to pay. However, these ...
The Jersey Cyber Security Centre (JCSC) said the latest scams were designed to look like news articles that claimed the reader could make large sums of money through a cryptocurrency service ...
In 2018, around US$1.7 billion in cryptocurrency was lost to scams, theft and fraud. In the first quarter of 2019, such losses rose to US$1.2 billion. [ 6 ] 2022 was a record year for cryptocurrency theft, according to Chainalysis , with US$3.8 billion [ 7 ] stolen worldwide during 125 system hacks, [ 8 ] including US$1.7 billion stolen by ...
The 2021 Squid Game cryptocurrency scam was a significant fraudulent event that took place in the world of cryptocurrency. [1] Inspired by the popular South Korean Netflix series Squid Game , this cryptocurrency, known as Squid Coin, [ 2 ] promised investors an opportunity to play and earn.
The FBI, in its first public national estimate of the scope of the problem, told OCCRP that losses in the U.S. from scams carried out via crypto ATMs exceeded $120 million in 2023.