Spain To Crack Down On Crypto Influencers

Spain will crackdown on crypto influencers to protect investors and combat crypto scams. New regulations will require big influencers to notify authorities before promoting crypto. They will also have to warn of the risks associated with crypto investing. Moreover, influencers will have to disclose to their fans that they are getting money to promote crypto. Influencers that don't follow these rules will have to pay steep fines. New rules mean that influencers will have to disclose their affiliation with crypto…

Anatomy of a Sh*tcoin: A Thorough Guide on Guarding Your Wealth

Bitcoin and Ethereum are considered the safest cryptocurrencies to invest in in the volatile market of the crypto space. However, let's face it, they're unlikely to pull off that legendary 100x growth move, given their massive market caps. This is why many investors seek "gems," new and underrated projects with massive growth potential.  Unfortunately, the current wild west of the market is much more frequently inhabited by "sh*tcoins" instead. So what is a sh*tcoin? Read more to find out. Sh*tcoin…

Ledger Users Could Be at Risk of A New Phishing Scam

Ledger wallet holders target of a new email phishing scam that seeks to steal funds from their wallets. The mail was sent to users whose data were compromised in the Ledger data security breach in July. Phishing Scam Message Designed To Look Legitimate At first glance, the e-mail might look legitimate as the email address used this time, "[email protected]," looks fairly similar to Ledger. It states that the wallet platform had fallen victim to a cyber attack. We’ve got a…

Kraken CSO Alerts Crypto Community about Phishing and Listing Scams

Nicholas Percoco, the chief security officer of Crypto exchange Kraken has warned the crypto community of a new phishing scam. Percoco revealed this on Twitter with a series of tweets in which he explained the process used by cyber criminals to dupe victims. Scammers pretend to work for legit crypto companies According to Percoco, scammers use fake identities and information to scam victims. Firstly they pretend to be part of the listing teams on cryptocurrency exchanges like Kraken to lure…

COVID-19 Website Seized After an Attempt to Sell the Domain For Bitcoin

On April 24, the office of the U.S. Attorney for Columbia District was authorized to seize coronaprevention.org.  The Department was directed to detect, investigate, and prosecute the illicit conduct of the website’s owner which is related to the COVID-19 pandemic. The seizure of coronaprevention.org website was due to the alleged attempt by its owner to sell the domain for Bitcoin. According to the United States authorities, the unidentified owner of the website attempted to sell the domain to an undercover…

Crypto Hackers Rake In $4 Billion in 2019 – How to Avoid Crypto Scams in 2020

Every new technological advance has two sides to its success story. One tells the tale of economic and social benefits that derive from it. The other one bears the ugly face of scamming, theft, and hoaxing. One clear example of this unofficial axiom is the surge in cryptocurrency scams that occurred throughout 2019. According to a CypherTrace report, hackers managed to steal more than $4.4 billion from cryptocurrency owners and entities last year. It is a staggering increase from the…

The FBI Says Scammers are Targeting Cryptocurrency Holders

The Federal Bureau of Investigations (FBI) released a press release on April 13 regarding cryptocurrency scams. According to the FBI, more cryptocurrency scams associated with the COVID-19 pandemic could surface. The FBI said that as more people enter the cryptocurrency space, there would be more fraud schemes related to cryptocurrency. The elderly are specifically at risk but the FBI said everyone is vulnerable to such scams. The agency noted the availability of many virtual asset service providers online as well…

Cryptocurrency Scammer’s Revenues Declined By 30 Percent in March

Scammers have been trying to leverage the fears over the current pandemic to dupe people. They are trying to lure people to download malicious applications, donate to fake charities, or purport to sell coronavirus fears. However, the pandemic seems to have led to a steep fall in the revenues of cryptocurrency scammers. On April 10, Chainalysis released data showing that the average value of transactions received by the wallets of known scams reduced by 30 percent last month. Besides, the…

Smart Ways Scammers are Stealing Your Crypto and Data

Over the years, we've experienced a surge in interest and growth in the use of cryptocurrency. The meteoric rise of digital currency has attracted a lot of people's attention and potential investors. Unfortunately, this surge has also seen an increase in opportunistic crypto scammers and fraud cases. Cryptocurrency owners are more susceptible to hacking scams due to online wallets to store digital coins. Scammers have also realized smart ways to infiltrate software storage devices like desktops and mobile phones. The…

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