Bitcoin News scam News

Australian Securities and Investments Commission Officially Warns Against OneCoin

The Australian Securities and Investments Commission (ASIC) has warned the public that crypto project OneCoin “could be involved in a scam,” according to a notice released on May 28. The Australian financial regulator has issued an official warning against OneCoin, the entity operating under website, urging the public to not deal with this company as it is not licensed in Australia. […]

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German Watchdog Warns Public About Alleged Hiring by Crypto Exchange CoinBene

The Federal Financial Supervisory Authority (BaFin), Germany’s financial regulator, has issued a public warning about cryptocurrency exchange CoinBene on May 28. The watchdog says that CoinBene has been recruiting freelance crypto traders who get paid on commission. BaFin states that since crypto assets are financial instruments, trading them requires authorization under Germany’s Banking Act, or Kreditwesengesetz (KWG). BaFin states that CoinBene is […]

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App Offering Free Bitcoin and Ether to Users Is a Scam, Malware Hunter Warns

An app that claims to give users the chance to earn $45 a day in free bitcoin (BTC) is a scam, according to a tweet by an “independent malware hunter” posted on May 20. The software, known as Bitcoin Collector, is advertised on a website that supposedly enables users to share a unique URL with their friends with payouts of 3 ether (ETH) (worth […]

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Fake Crypto Wallet App Imitating Trezor Found on Google Play Store

Fraudsters have been adding fake cryptocurrency wallets to the Google Play store in an attempt to cash in on rising bitcoin (BTC) prices, ESET antivirus researchers claimed on May 23. One malicious app imitated the hardware wallet Trezor — and the investigation found that the software had ties to another fake app that has the potential to scam unsuspecting users out of money. While the app’s […]

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Hackers Steal $100,000+ Worth of BTC From Engineering Manager at Crypto Custodian BitGo

Sean Coonce, engineering manager at cryptocurrency custodian BitGo, announced that he has fallen victim to a SIM swapping hack in a Medium post published on May 20. According to the post, Coonce had over $100,000 siphoned out of his account on cryptocurrency exchange Coinbase in under 24 hours. In his post, Coone details SIM swapping, a practice that sees the attacker maliciously requesting a telecommunications carrier to redirect the […]

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Brazil Shuts Down Cryptocurrency Pyramid Scheme That Defrauded 55,000 of $200 Million

Brazillian police have arrested ten people suspected of operating a cryptocurrency pyramid scheme worth 850 million reals ($210 million), local news media outlets including Correido Do Povo reported on May 21. As part of Operation Egypto, a swoop dedicated to unearthing unsanctioned financial schemes, Brazil’s tax agency joined police in orchestrating a crackdown on the figures behind Indeal, who they say amassed funds […]

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2 Chinese OTC Traders Accused of Illicitly Raising Bitcoin by Promising Interest

Two Chinese over-the-counter (OTC) traders have been accused of running an illicit bitcoin (BTC) loan scheme and collecting bitcoin by promising interest on deposits, Chinese newspaper The Beijing News reports on May 22. According to the article, Yi Zhou and Xiang Li convinced traders to send them their bitcoin holdings by promising them interest on their deposits, obtaining over 7,000 BTC (nearly $54.7 […]

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Europol Shuts Down $200 Million Crypto Mixing Service Bestmixer

Dutch, Luxembourg authorities and Europol have shut down one of the three largest cryptocurrency tumblers, Europol reported on May 22. A cryptocurrency tumbler, also known as a cryptocurrency mixing service, is an anonymitytool that claims to transform transactions of non-private coins to private ones by mixing crypto funds with others, which makes it difficult to track the funds’ original source. According to the report, the Dutch Fiscal Information and Investigation Service […]

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ETH Stolen From Crypto Exchange Cryptopia Moved, Portion Deposited on Exchange

A portion of the ether (ETH) stolen from hacked New Zealand-based cryptocurrency exchange Cryptopia has been moved and deposited to a different crypto exchange, according to an analysis. Crypto Anti-Money Laundering startup Coinfirm tweeted about their findings on May 20. According to Coinfirm, 30,790 (over $7.778 million) of the stolen ether has been reportedly moved to a new address, and 10 ETH (over $2,500) moved to […]

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Australian Securities and Investments Commission Warns Public Against New Crypto Scam

The Australian Securities and Investments Commission (ASIC) has issued another warning on May 21 against an alleged crypto-related scam project. According to the report, the Australian financial regulator has today published a warning against an alleged scam entity dealing under two names, Dartalon Ltd and GFC Investments. The ASIC has red flagged the entity, reportedly claiming that the business “has […]