Scams

In recent news, there has been a shocking revelation linking convicted UK hacker Gurvinder Bhangu, known as Gurv, to the high-profile compromises of American actress Sydney Sweeney and ‘Breaking Bad’ actor Bob Odenkirk’s accounts. These hacks resulted in over $530,000 being stolen through Solana meme coin scams. Renowned on-chain detective ZachXBT uncovered compelling evidence pointing
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Solana has seen significant growth in its decentralized exchange (DEX) volume, surpassing Ethereum in July. With $55.8 billion in transactions, Solana outpaced Ethereum’s $53.8 billion, marking its second-highest monthly volume to date. This surge can be attributed to platforms like Raydium, Orca, and Phoenix, which have contributed to the network’s success. Despite Solana’s impressive volume
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Wong Ching-kit, a well-known crypto promoter in Hong Kong, has recently come under the spotlight for his involvement in various criminal cases, including a cryptocurrency scam worth over HK$3 million. Born as Kwan Tsz-kit, Ching-kit changed his name after being convicted of theft and sentenced to community service in 2012. His history of run-ins with
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Recently, the Hong Kong police arrested three individuals suspected of defrauding a businessman out of HK$3.11 million in crypto assets. The trio allegedly offered him three bundles of counterfeit HK$1,000 banknotes in exchange for the digital currency. During a raid on the Mong Kok office where the fraudulent transaction took place, officers confiscated 10,978 fake
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The recent news of Artur Schaback, co-founder and former CTO of Paxful, pleading guilty to conspiracy to deliberately fail in establishing, developing, implementing, and maintaining a compliant AML program has sent shockwaves through the fintech industry. The US Department of Justice’s revelation that Schaback neglected to collect necessary KYC information of customers who traded on
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The recent developments at Paxful Inc. have shocked the cryptocurrency community, as co-founder and former CTO Artur Schaback pleaded guilty to conspiracy charges related to failing to maintain an effective anti-money laundering (AML) program. According to the Department of Justice, Schaback’s negligence turned Paxful into a hub for money laundering, sanctions violations, fraud, romance scams,
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The cryptocurrency sector faced significant challenges in May, with losses totaling $42.6 million due to various security breaches. The largest chunk of these losses, approximately $20.7 million, was attributed to flash loan attacks. Sonne Finance bore the brunt of these attacks, losing a staggering $20 million, while TLN Protocol suffered losses amounting to $746,000. Additionally,
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In the year of meme coin mania, we have witnessed a surge in the launch of meme coins with dubious connections. Lookonchain’s data has shed light on the dangers of trading meme coins, especially those backed by celebrities. The recent example of American celebrity Caitlyn Jenner’s JENNER coin, launched on the Solana blockchain, serves as
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