All articles tagged with #cryptocurrency scams
The US Secret Service has built an international network to combat crypto crime, seizing nearly $400 million in digital assets over the past decade through digital investigations, training law enforcement worldwide, and collaborating with industry partners to track and recover stolen funds, amid rising crypto-related scams and crimes.
Hackers are targeting Gmail and YouTube accounts, bypassing two-factor authentication (2FA) security and locking users out, often in connection with cryptocurrency scams. The attackers use session cookie hijack attacks to bypass 2FA, and Google recommends users set up recovery factors and utilize security tools like passkeys and Security Checkup. Additionally, YouTube users, particularly gamers, are being targeted with information-stealing malware distributed through compromised accounts, posing a significant threat to the gaming community.
Hackers are targeting Gmail and YouTube accounts, bypassing 2FA security and locking users out, often in connection with cryptocurrency scams involving Ripple's XRP. The attackers use session cookie hijack attacks to bypass 2FA, and Google recommends users set up recovery factors and use security tools like passkeys and Security Checkup. Additionally, YouTube users, especially gamers, are being targeted with information-stealing malware distributed through compromised accounts, posing a significant threat to the gaming community.
The FBI reported a 53% increase in losses from cryptocurrency investment scams in 2023, totaling $3.94 billion, with the majority of frauds being related to cryptocurrency. The surge in crypto scams can be seen in the context of significant events, including Germany's seizure of over $2 billion in Bitcoin from piracy proceeds and the U.S. government's intention to sell off $132.5 million in Bitcoin seized in connection with the Silk Road scam investigation. Additionally, JP Morgan Chase & Co. halted cryptocurrency-related transactions for its U.K. clients, reflecting growing concerns of financial institutions over crypto-related crimes.
TikTok is being flooded with fake cryptocurrency giveaways, with scammers impersonating Elon Musk, Tesla, and SpaceX. These scams prompt users to register on fake crypto exchange or giveaway sites, claiming to offer free cryptocurrency. However, the scammers steal any deposited crypto and users receive nothing in return. These scams have been successful in the past, with millions of dollars stolen. The scams on TikTok often feature deep fake videos of Elon Musk promoting the fake giveaways. It is important to recognize that almost all crypto giveaway sites are scams, especially those claiming to be associated with high-profile individuals or exchanges.
A top financial regulator, Christy Goldsmith Romero, is advocating for the creation of a national registry to track financial fraud, allowing law enforcement and investors to identify and vet bad actors. The registry would include companies and individuals convicted of or fined for financial crimes, providing a one-stop site for investors to verify those pitching financial services and flagging possible repeat offenders for law enforcement. The proposal aims to prevent fraud and protect investors, particularly in light of the increasing prevalence of cryptocurrency-based scams. Americans reported losing $3.8 billion to investment scams in 2022 alone. Goldsmith Romero plans to circulate the idea for feedback among federal agencies, Capitol Hill, and outside groups.