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Crypto Scams and Hacks Hit Record Lows: CertiK Report
December 2024 showcased significant strides in the cryptocurrency industry's fight against fraud and cybercrime. According to blockchain security firm CertiK, losses from scams, hacks, and exploits fell to their lowest level of the year, amounting to $28.6 million.
Chainalysis and AlixPartners Forge a New Anti-Fraud Alliance
Chainalysis, a blockchain analytics company, has announced a strategic partnership with the global consulting firm AlixPartners. The alliance is focused on enhancing AlixPartners’ capabilities in cryptocurrency monitoring, fraud detection, and digital asset analysis.ZachXBT Exposes $243 Million Crypto Heist
Blockchain researcher ZachXBT revealed details of a $243 million fraud operation. This led to the arrest of several suspects and the freezing of funds' portion. The victim was a lone creditor from the Genesis platform, and the main culprits were Greavys (Malone Iam), Wiz (Veer Chetal), and Box (Jeandiel Serrano). FBI Returns $5 Million to Victims of “Pig Butchering” Scam
North Carolina authorities recovered nearly $5 million in cryptocurrency that was stolen in the “Pig Butchering” scam. This fraud technique involves gradually "fattening up" the victim, allowing them to earn small amounts initially, which encourages further investments. H-Coin Founder Convicted of Fraud
A U.S. court has convicted Chinese businessman Miles Guo (real name Guo Wengui) of racketeering conspiracy and a $1 billion fraud. Simultaneously, the U.S. Securities and Exchange Commission (SEC) has also charged him with cryptocurrency fraud linked to his H-Coin project, which raised about $500 million. Crypto Projects Suffer $572M Losses in Q2 2024
In the second quarter of 2024, crypto projects lost $572 million to fraud and hacks, more than doubling the $265 million in the same period last year. The two biggest victims were centralized exchanges: Japan’s DMM Bitcoin ($305 million) and Turkey’s BtcTurk ($55 million). 
Regulators Harness AI to Protect National Treasury
The U.S. Department of the Treasury has reported notable success in combating fraud, aided by the introduction of innovative technologies like AI-powered machine learning. These tools have significantly boosted the department's ability to detect and prevent fraudulent schemes.Social Engineering in Crypto: Top 5 Fraud Schemes
A recent hacking incident has highlighted that while fraudsters' tactics may vary technically, their underlying principles are remarkably consistent. In today’s digital landscape, recognizing emerging scam tactics is an essential skill for any crypto users. 
Arkham Intelligence: The All-Seeing Eye in Crypto Surveillance
As the demand for anonymous transactions continues to grow, users also crave verification of information and additional measures against fraud. This is where the Arkham platform steps in. It provides reliable information about the real entities and individuals behind anonymous crypto addresses. Wu-Tang Clan’s Exclusive Album Becomes a Bone of Contention
PleasrDAO, an organization engaged in collecting art and philanthropy, has filed a lawsuit against Martin Shkreli, who was previously convicted of securities fraud, for using a Wu-Tang Clan album during a live broadcast. PleasrDAO asserts that this action inflicted significant harm on their organization.