Authorities from two U.S. states have asked India’s Criminal Investigation Department (CID) of Gujarat police to seize the assets of the people allegedly behind cryptocurrency sector’s most elusive and sensational scam.
The founder of cryptocurrency exchange OKEx and allegedly involved in digital currency fraud, Star Xu has reportedly been detained by police in Shanghai, China.
A substantial number of investors in South Korea have reportedly lost well over $8 million in an alleged fraudulent ICO involving a phantom shipwreck with a supposed tranche of billions of dollars' worth of gold on board.
Aarni Otavi Saarimaa, a Finnish businessman who lost 5,564 BTC in a scam in Thailand, is poised to receive compensation after he began the settlement talks with some of the suspects.
Online travel company CheapAir has become the latest company to fall victim to a BTC extortion scam, after threats of a campaign of disruption and defamation at the hands of cyber criminals.
Cryptocurrencies are known for their ability to break through jurisdictional borders nearly instantly. But while legitimate users benefit from this, so do criminals. Given this fact, the challenge for regulators is also rising.
Philandering husbands are reportedly the new target of a BTC blackmail scam that is currently going around.
A Thai stock investor who has been linked to the $24 million cryptocurrency fraud case has claimed to be victim of the scam himself.
Divyesh Darji, reportedly the head of BitConnect India, was taken into custody after he arrived from Dubai, according to local media outlets.
Fresh doubt has been cast on the business practices of cryptocurrency exchange KuCoin, after a journalist in Hong Kong found the firm’s offices were empty.
In terms of traditional phishing, the Kaspersky system intercepted 58,000 attempts to connect to fake websites posing as crypto wallets and markets.
In the first two weeks of August alone, an estimated $68 million of investors’ money were lost in initial coin offering (ICO) exit scams, according to a Diar report.
