#scam

The police in Hong Kong uncovered a large crypto scam and arrested 27 suspects - 21 men and 6 women.

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.

Chinese law enforcement has initiated its first criminal case related to the launch of cryptocurrency tokens, accusing student Yang Qichao of creating fake digital assets. Although the case resembles a common Rug Pull scam, he was charged under a different count due to legal ambiguities.

Match Group, the developer of popular dating services, has joined forces with the crypto exchanges Coinbase, Kraken, Gemini, and Meta (Facebook and Instagram) in a new initiative called Tech Against Scams. Together, they aim to combat the Pig Butchering scam, which involves building fake online relationships to steal assets.

Developer using the pseudonym 0xMario has shared his experience demonstrating how alertness and technical acumen prevented him from becoming a scam victim.

A Bored Ape Yacht Club (BAYC) NFT owner, nicknamed Crumz, narrowly avoided a scam orchestrated by an impostor posing as Forbes editor Robert LaFanco. The scammer approached Crumz for a supposed interview about BAYC.

The U.S. Court of Appeals dismissed Ali Sedaghatpour’s case against Lemonade Insurance, where he had sought compensation after falling victim to a crypto scam. Sedaghatpour claimed the insurer wrongfully refused to cover his substantial cryptocurrency loss.

Malefactors are not resting, leveraging artificial intelligence (AI) and the likenesses of renowned crypto enthusiasts for deceptive schemes.