Crypto Scam

Wybo Wiersma – a 40-year-old Oxford University graduate – has been sentenced to four and a half years in prison after scamming over $2 million in crypto from unsuspecting victims. Following his arrest in 2019, the Netherlands extradited the Dutchman back to the United Kingdom (UK) in 2021. Following a five-year investigation by the South East Regional Organised Crime Unit (SEROCU), he pled guilty on January 26 to the Oxford Crown Court.  A Five-Year Investigation As reported by the Daily…

“Address Poisoning” is a new cryptocurrency scam that deceives users into transferring funds to other wallets instead of the intended recipient. While it’s not the most aggressive cryptocurrency scam, Address Poisoning still tricks many into funding crypto fraudsters. Fortunately, it is easy to detect and avoid even by the least tech-savvy users. What is Address Poisoning? Crypto users should be familiar with the wallet’s transaction list, which contains all the “Send” and “Receive” transfers. This list provides details on the token…

Victims of the infamous BitConnect Ponzi scheme in 2017 are due to receive net restitution worth $17 million, according to a statement from the Department of Justice (DOJ) on Thursday. According to the DOJ’s statement, a federal district judge in San Diego ordered that the funds be distributed to 800 victims of the scam across 40 countries. The department described BitConnect as “a textbook Ponzi scheme” that paid earlier investors with money from newer investors.  BitConnect’s top promoter Glenn Arcaro…

Twitter scammers compromised the account of NFT influencer Zeneca on July 19. The hackers also compromised Zeneca’s Discord account. After hacking the accounts, the bad actors shared a link to a fake airdrop of the Zen Academy Founders Pass. Reportedly, the hackers tricked unwitting NFT collectors into connecting their wallets to a phishing site. One of the tweets read: Hey everyone wanted to do something special for the community so here I go! I would like to announce the official…

While crypto scams and hacking schemes continue growing more sophisticated, industry newcomers are increasingly put at risk. A crypto stealer can swiftly confiscate your crypto holdings within three clicks alone. Please read below to learn about this efficient yet dangerous attack and how to avoid falling victim to it. The Three Click-Confiscator 1. The Hook The scheme begins with a “hook” – an alluring message that expresses its victims’ sense of urgency. Samczsun, the Head of Security at Paradigm, provided…

A bad actor has managed to pull off a phishing attack on a major liquidity provider for the Uniswap v3 protocol. The campaign saw the hacker(s) loot a minimum of $4.7 million worth of Ether from the platform. According to internal reports, the total amount of stolen tokens could be even more. Alarms Go Off on Twitter Binance CEO Changpeng Zhao had earlier posted regarding the attack after the exchange company’s threat intel spotted suspicious movement. CZ shared a tweet…

Devotees of the reactionary conspiracy theorist group, QAnon, have fallen victim to multiple crypto scams by influencers. According to reports, influencers PatriotQakes and Whiplash347 scammed thousands of investors by promoting fake cryptos on their Telegram channels. Logically, a tech fact-finding company, unearthed a massive fraudulent scheme run by QAnon thought leaders PatriotQakes and their partner. The duo had built Telegram communities of about 300,000 followers combined, named Whiplash347 and Quantum Stellar Initiative (QSI.) In these groups, the fraudsters allegedly promoted…

Earlier today, a hacker gained access to NFT marketplace OpenSea's discord server, exploiting its channel for a phishing scam. This is the second time that the platform has fallen victim to this form of attack this year. Hacker Promotes Fake Collab Between Youtube and OpenSea According to reports and screenshots from participants in the server, the attacker took over one of OpenSea's bots. They then uploaded a string of posts sharing news of a collaboration between YouTube and the NFT…

A Twitter user under the alias "Domenic Iacovone" shared details of how a simple vishing scam led to a loss of his NFTs.  Iacovone has now launched repeated accusations at MetaMask and ConsenSys in the past 24 hours. On April 15th, a MetaMask security vulnerability came to light when a crypto investor laid a complaint on Twitter. He stated that he lost more than half a million pounds after a phone call from a number identified as 'Apple.' This was,…