Chinese court sentences masterminds behind $300 Million crypto money laundering scheme
The Tongliang Court in China has given prison terms to 21 persons, including the key orchestrators of a $300 million USDT money laundering case. The gigantic crypto money laundering operation, which took place from November 2020 to late April 2021, was primarily managed by Jiang Moumou and Zheng Moumou. Jiang and Zheng enlisted 19 additional […]
Calgary citizens lose a whopping $22.5 million To crypto scams
Residents of Calgary, Alberta, have reportedly lost over $22.5 million to various cryptocurrency-related scams this year, according to Canadian police. Officials in Alberta revealed on Monday that there have been 340 reported crypto scams since the beginning of the year. This is a significant increase from last year’s statistics, which showed losses of $14 million […]
Hong Kong Binance users fall victim to $450K phishing scam reported by Hong Kong Police
Several users of Binance in Hong Kong have been scammed out of approximately $450,000 due to a string of fraudulent text messages, according to a warning issued by the Hong Kong police. A total of 11 Hong Kong-based Binance customers fell prey to a spate of phishing scams disseminated via text messages. The fraudsters were […]
CoinEx hit by cyber attack resulted in $27 million stolen, withdrawals suspended
Cryptocurrency exchange CoinEx has temporarily suspended withdrawals following a suspected cyber attack that could have resulted in a loss of around $27 million. Unusual activities on the platform were noticed by multiple cybersecurity firms, prompting a confirmation from CoinEx that some of its hot wallet addresses had experienced “anomalous withdrawals”. The potential stolen assets include […]
UK woman loses £180,000 to crypto scam
A woman from the UK has lost £180,000 (approximately $227,292) after falling victim to an elaborate cryptocurrency scam. The criminals posed as investment advisors and convinced her to invest her money in crypto. They maintained regular contact with her for six months, building a close rapport and gaining access to her phone and laptop. Using […]