22 Apr 2022

New York Man Arrested for Alleged $1.8M Crypto Mining Scam

The Federal Bureau of Investigation arrested a 37-year-old man on Wednesday it says defrauded more than a dozen victims out of a total of $1.8 million in a long-running crypto mining scam. Between March 2019 and September 2021, officials say Chester “Chet” Stojanovich posed as a dealer of crypto mining

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20 Apr 2022

Security Lessons From a Payment Fraud Attack

On April 10, 2020, Atlanta-based fintech firm Brightwell was navigating more than the deadly COVID-19 pandemic. It all started with a series of customer phone calls. That morning sometime between 7 a.m. and 8 a.m., Brightwell received word from the customer service team that customers called to complain about missing funds,

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30 Nov 2021

How Crypto Vigilantes Are Hunting Scams in a $100 Billion Market

On a Monday morning in October, in a southern Indiana basement, a 52-year-old grandfather in a Dogecoin hat is patrolling the darkest corners of the crypto world for Shit Coin scammers. Robert Browning and his motley crew — named the RugSeekers for a popular pump and dump scam called the rug

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04 Dec 2019

2019 experienced massive spate of crypto crimes, $4.4 billion to date

Research shows that the majority of cryptocurrency exchanges are not equipped to handle basic KYC. Nations only have seven months left to pass laws and virtual asset service providers to comply with guidelines, yet they are inadequately prepared to comply with the new funds Travel Rule in the Financial Action

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07 Nov 2018

Fake Elon Musk Twitter Bitcoin Scam Earned 180K in One Day

Hackers used compromised Twitter accounts and Elon Musk’s fame to scam over $180,000 in bitcoin in a single day. The scam involved changing the names of verified Twitter accounts to “Elon Musk,” and tweeting about making “the biggest crypto-giveaway in the world.” Users who sent between .1 and 3 BTC

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15 Oct 2018

This Malware Pretends to Be a Flash Update But Is Really Mining Cryptocurrency

Updating Adobe Flash is apparently such a regular task for computer users that hackers are able to take advantage of the familiarity and slip in cryptocurrency mining malware into fake Flash updates. Once installed, the malware works in the background, using the computer’s processing power to mine cryptocurrency (Monero, in

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12 Oct 2018

Cryptocurrency theft hits nearly $1 billion in first nine months: report

“Theft of cryptocurrencies through hacking of exchanges and trading platforms soared to $927 million in the first nine months of the year, up nearly 250 percent from the level seen in 2017, according to a report from U.S.-based cyber security firm CipherTrace released on Wednesday. The report, which looks at

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