Coinbase Targets Crypto Crime, Freezing $3M Linked To Scam Operations
Coinbase moved to freeze more than $3 million in crypto linked to scam networks operating across Southeast Asia, a move that came as US authorities and private firms widened a joint campaign against fraud rings that have drained billions from Americans. The freeze was announced during Disruption Week, a coordinated push led by the DOJ’s […]
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The Delaware Department of Justice’s Investor Protection Unit has issued a cease and desist order against 23 entities and individuals involved in a popular cryptocurrency scam known as “pig butchering.” The order also freezes the accounts allegedly holding cryptocurrencies belonging to the victims.
Delaware Cracks Down on Pig Butchering Crypto Scam
The attorney general of the U.S. state of Delaware, Kathy Jennings, announced Wednesday that the Investor Protection Unit of the state’s Department of Justice (DOJ) has “issued a summary order....
Coinbase is now facing a lot of public attention after ZachXBT, a crypto investigator, broke out news of a shocking social engineering scam that targeted Coinbase users, taking away a whopping $300 million of losses. Related Reading: Trump Tariffs Hit Crypto Hard: Bitcoin Crashes To $93K In Market Shake-Up Generally, scammers impersonate agents of Coinbase […]
The US Department of Justice has seized 127,195 Bitcoin (BTC) linked to Chen Zhi, the alleged operator of a massive “pig butchering” scam based in Cambodia. The value of the seized Bitcoin—around $15 billion—marks the largest forfeiture action in the DOJ’s history, underscoring the scale of global crypto-related financial crimes and the US government’s growing […]
Investors who say they lost hundreds of thousands of pounds in an alleged cryptocurrency fraud have had no luck persuading the police that there was in fact a crime committed.
The crypto community has raised the alarm about an ongoing phishing scam targeting investors after scammers posing as crypto exchange Coinbase successfully drained nearly $2 million over the weekend. The scam is reportedly related to the CoinTracker security breach from 2022. Related Reading: Bitcoin Takes A Beating: Mt. Gox Distribution Spooks Investors $1.7 Million Drained […]