Financial losses relating to digital assets reported to Action Fraud between October 2021 and September 2022 jumped to £226 million ($273 million)—well more than those reported for general fraud.
Investigations by the Department of Foreign Affairs (DFA) revealed that a Chinese syndicate was behind the human trafficking ring and sought to create an "all-Filipino team of scammers."
The defendants allegedly used fabricated documents and fraudulent representations to siphon the majority of investor funds for their personal use, federal authorities said.
CertiK unearthed a fast-rising underground market with over 500,000 members where Know Your Customer verification is sold for as low as $8, concentrated in Southeast Asia.
Scammers are taking advantage of the FTX collapse, with Singaporean police saying a false website has been found claiming to be in touch with the U.S. DOJ to help recover victims' lost funds.
Alex Quinit, co-founder of Twala, notes that the core purpose of the Self-Sovereign ID is to give individuals greater control over how their data is shared while limiting misuse by bad actors.
SEC's public disclosure revealed that the two Astrazion firms were "engaged in investment-taking activities without the required license or registration which is not authorized by this Commission."
The state’s Department of Justice (DoJ) launched a webpage dedicated to all classes of digital assets designed to guide residents considering putting funds in them.
Cryptogix leveraged social media to offer investments to the public while claiming to provide 100% returns in as little as 90 days, according to the Philippines’ securities regulator.
FTX Japan has gone into “close-only” mode, where users can only close out existing positions but can’t create new ones following the FSA’s suspension order.
The memorandum of agreement also details plans to brief the public on the best ways to protect themselves from scammers through campaigns and other related activities.
Between October 2018 and September 2022, the CFPB received more than 8,300 virtual currency complaints, “the majority in the last two years.”
