Crypto Scammers Have Drained Over $1 Billion From Consumers Last Year – FTC
Crypto scammers have defrauded more than 46,000 people over $1 billion since the start of 2021, according to a report released by the Federal Trade Commission on Friday. Fraudsters are capitalizing on the increased popularity of acquiring digital wealth quickly. With almost $1 out of every $4 in these frauds paid in cryptocurrency, the FTC […]
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Crypto scammers have been busy making millions at the cost of iPhone users who were merely looking for romance on dating apps. Wherever there is great profit, fraud comes to trick its way into a promised land. The increase of scammers has been widely reported this year. They are a real danger for cryptocurrency users. […]
Unknown scammers have organized a fake bitcoin giveaway through a Russian government website they hacked. The news of the attack comes after a recent report revealed that damages from crypto-related fraud in Russia have reached $30 million in value in the first half of this year.
Regional Government Website in Russia Hacked by Scammers
The main website of the local administration in the Russian city of Ryazan, around 200 km southeast of Moscow, has been targeted by hackers twice in a single day, Rzn.info reported quoted by the crypto news outlet Forklog. The unidentified....
Cryptocurrency reserves held on digital asset exchanges have been dropping to new lows, as some of the top exchanges have seen significant bitcoin reserve balance drops. A few months ago trading platforms had a lot more bitcoin reserves on hand and onchain data shows a few exchanges have seen customers steadily drain 187,000 bitcoins ($2.1B) from exchange-owned cold wallets. In February, Coinbase had 1 million bitcoin under management and today reserves are down over 9% as 92,000 bitcoin ($1B) has left the exchange. Today, according to Bituniverse’s online exchange balance rank....
A press release from the Federal Trade Commission states that the developers of the Prized mobile app have decided to settle the charges that their 'rewards' app installed malware on the users' smartphones that drained the batteries and depleted the data plans. The New Jersey Attorney General also said that the app's main purpose was to actually load the consumers' mobile phones with a malicious software to mine cryptocurrency for the developer. The press release said that Equiliv Investments and Ryan Ramminger, the Ohio-based defendants have settled for $50,000, of which $44,800 will be....
The U.S. Federal Trade Commission (FTC) has revealed that more than 46,000 people have reported losing over $1 billion in cryptocurrency to scams since the beginning of last year.
FTC Says Scammers Stole Over $1 Billion in Crypto
The U.S. Federal Trade Commission published a “Data Spotlight” report on crypto scams Friday. The FTC is the only federal agency in the country with both consumer protection and competition jurisdiction in broad sectors of the economy, the regulator’s website describes.
Emma Fletcher, senior data researcher at the FTC,....