Category: Scams

Scam Emails and Clipboard Hijackers Proliferate to Pilfer Bitcoin

Receiving Bitcoin investment related emails could cause a Windows clipboard hijacker to be installed on your computer, researchers warn. The new malware spam campaign that aims to steal bitcoins from its victims is currently underway; it’s still unknown how many devices are affected. Fake Bitcoin Investment Scam Discovered While scams have almost always been synonymous…

March 15, 2019
Worse than BitConnect? Leader of Billion Dollar Cryptocurrency Pyramid Scam “OneCoin” Arrested

The leader of a prolific cryptocurrency Ponzi scheme, OneCoin, was arrested and charged on Mar. 6th. OneCoin Ltd. claims to have 3 million members—or victims—worldwide and has generated over €3.3 billion in fraudulent sales. In reality, the OneCoin “cryptocurrency” did not use a blockchain at all while it scammed investors out of billions. OneCoin’s Billion…

March 10, 2019
Security Consultant Reveals Coinomi Wallet Vulnerability, $60,000+ in Crypto Allegedly Hacked

Cryptocurrency wallet Coinomi has once again become involved in a security scandal, with a security consultant claiming to have found a vulnerability in the service. Allegedly, the service would send wallet seed phrases, the backup information needed to recover a crypto wallet, to servers unencrypted—allowing hackers to potentially intercept the data and steal a user’s…

February 27, 2019
FBI Looking for BitConnect Victims to Aid with Investigation

The US Federal Bureau of Investigations (FBI) is looking for victims who invested in the cryptocurrency BitConnect (BCC) to aid with the ongoing investigation of the alleged Ponzi scheme, the agency announced Feb. 21st. Investigators Looking to Contact Potential Victims While the public is yet to see a high profile conviction related to cryptocurrency scams,…

February 24, 2019
Purported Crypto Cloud Mining Ponzi Reported to Thai Police, 140 Victims Allegedly Scammed Out of $1.3 Million

Thirty people in Bangkok filed complaints with Thailand’s Technology Crime Suppression Division after they were allegedly scammed by cryptocurrency cloud mining company CryptoMining.Farm, the Bangkok Post reported. A total of 140 victims were allegedly scammed out of more than $1.3 million. The allegations state that the investors were swindled out of 42 million Baht—about $1.34 million.…

February 19, 2019
Preliminary Injunction Against Blockvest for Fraudulent Securities Offering and Illegal Use of SEC Seal

The SEC filed a complaint against Blockvest and its founder for allegedly making unregistered securities offerings and using the SEC seal without permission. On Feb. 14th, the US District Court of California entered in a preliminary injunction against the firm. Accusations Against Blockvest The Feb. 14th complaint filed against Blockvest LLC details that the company, and…

February 16, 2019
First Case of Crypto-Jacking ‘Clipper’ Malware Found on Google Play Store

A new form of cryptocurrency-stealing malware has been identified in the Google Play store. Dubbed ‘clipper’ malware, it was discovered inside an app impersonating MetaMask—a full browser extension which allows Ethereum-based apps to run on a browser without running a full Ethereum node. Clipper malware works by taking advantage of the copy-paste feature. Crypto apps…

February 12, 2019
Data Shows Ethereum is the ‘Cryptocurrency of Choice for Scams’

Since the very early days, back when people learned how to create new cryptocurrencies or quickly build infrastructure models like digital asset trading platforms, many scams started to spawn frequently. According to the blockchain surveillance company Chainalysis, over the last two years fraud in the Ethereum ecosystem has run rampant and it’s been the “cryptocurrency…

February 5, 2019
The Crucible of Privacy: Why Decentralized Exchange Is the Only Way

Decentralization is a core principle of blockchain-based technology. It’s the most important and unique property of the many cryptocurrencies that have launched since the birth of Bitcoin. Decentralization facilitates a move away from centralized control and differentiates crypto from government-backed fiat currencies. It is the crucible of security and privacy. So why, if this concept is…

February 5, 2019
Dash Merchant Venezuela Team Issues Response to Embezzlement Accusations

Eugenia Alcalá, the co-founder of Dash Merchant Venezuela, issued a statement following accusations of embezzlement. Some in the community are still outraged. Meanwhile, the group apologized for delays in delivering its balance sheet and praised the team for its “positive achievements.” Dash Merchant Venezuela Team Accused of Embezzlement Dash Merchant Venezuela, the team tasked with…

January 31, 2019