The prime suspect once led a security audit for a privacy-focused cryptocurrency called Grin, noting the loss of privacy could endanger users' safety.
A federal jury convicted former SafeMoon Braden John Karony on all charges in a crypto fraud scheme that siphoned millions from investors under false promises of decentralized finance security. The jury found Karony guilty of conspiracy to commit securities fraud, wire fraud, and money laundering after a 12-day trial in Brooklyn on May 21. Prosecutors […]
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Cetus Protocol posted a $5 million reward on May 23 for information that identifies and leads to the arrest of the attacker who extracted $223 million from its decentralized exchange on the Sui network. Announced on May 23, the offer is coordinated with cybersecurity firm Inca Digital and will be funded by the Sui Foundation […]
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Cetus Protocol, a decentralized exchange (DEX) operating on the Sui Network, has suspended its smart contract operations after a serious security breach. The platform confirmed the exploit on May 22 through its official X account, noting that the shutdown was necessary to prevent further fund loss, stating, “????Alert Announcement ???? There was an incident detected […]
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The DOJ seized five internet domains used to distribute the LummaC2, used to steal crypto wallet seed phrases and other information.
Karony allegedly misappropriated SafeMoon's liquidity pool for his personal benefit, while assuring investors that the pool was locked.
Jeremy Jordan-Jones lied to investors about Amalgam’s purported partnerships with sports teams including the Golden State Warriors, according to prosecutors.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The U.S. Securities and Exchange Commission (SEC) accused cryptocurrency startup Unicoin and its top executives of orchestrating a massive fraud scheme. The SEC alleges that they raised more than $100 million from thousands of investors using false promises about asset-backed tokens and inflated fundraising numbers. A crypto dream built on illusions? The SEC’s 77-page complaint, filed […]
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Jacob Irwin-Cline alleges a sedative known as "Devil's Breath" may have been used to get him to hand over access to his crypto wallet.
Chainalysis said the shutdown of illicit online marketplace Haowang Guarantee did not fundamentally impact the network of crypto scammers.
The US Department of Justice (DOJ) is investigating how attackers infiltrated Coinbase in their recent customer data breach incident, Bloomberg News reported on May 19, citing a person familiar with the matter. Coinbase chief legal officer Paul Grewal confirmed the company is cooperating with federal law enforcement and intends to pursue legal action against those […]
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Amid a recent surge in physical threats to crypto investors with substantial holdings, firms that offer personal security services are seeing increasing demand. Amsterdam-based physical security and intelligence services provider Infinite Risks International’s managing director, Jethro Pijlman, told Bloomberg: “We’ve had more inquiries, more long-term clients, and more proactive requests from crypto investors who don’t […]
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The arrest of the Blum co-founder has some app users concerned over whether a long-awaited airdrop will take place as planned this quarter.
Eric Council Jr. was sentenced to 14 months’ imprisonment for his role in the Jan. 9, 2024, hack of the U.S. Securities and Exchange Commission’s (SEC’s) X account. The convicted, along with co-conspirators, posted false news of the SEC approving the first Bitcoin (BTC) exchange-traded fund in the U.S. In a press release on May […]
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Authorities in Paraguay deported three individuals and arrested another in connection with a May 15 attempted robbery at a crypto mining operation in Coronel Bogado, a town and district in Paraguay. According to statements by prosecutor Irene Rolón made during a May 15 interview on local news outlet Monumental TV, the group allegedly targeted computer […]
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France is deploying new security measures to protect crypto entrepreneurs after a rash of violent kidnapping attempts raised alarm across the country’s tech sector and ignited political pressure on Interior Minister Bruno Retailleau, AP News reported on May 16. The ministry confirmed that Retailleau met privately with crypto founders to discuss personal safety. According to […]
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A meeting was held with Minister of the Interior Bruno Retailleau, Director General of the National Police and Gendarmerie and industry representatives.
The man behind the hacking of the SEC's social media account that posted a fake announcement about spot bitcoin ETFs was sentenced on Friday.
The defendants allegedly spent $4 million at nightclubs and $9 million on exotic cars, among other luxury items, prosecutors claim.
The US Department of Justice does not intend to drop its federal criminal charges against Tornado Cash developer and co-founder Roman Storm, Decrypt reported on May 15, citing sources within the DOJ. The DOJ’s decision to proceed comes despite an internal memo circulated last month signaling a potential shift in how the agency handles cases […]
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Alliance DAO contributor Qiao Wang has detailed a sophisticated social engineering scam targeting Coinbase users amid the firm’s insider-led data breach incident. In a May 15 post on social media, Wang revealed how attackers impersonate exchange staff using personal data obtained through a recent internal breach. Individuals contacted him, claiming to represent Coinbase and warning […]
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French Interior Minister Bruno Retailleau said he will meet with French crypto entrepreneurs to discuss how to protect them.
Coinbase revealed that it suffered a data breach that affected less than 1% of its active monthly users, according to the May 15 statement. Following the hack, the exchange CEO Brian Armstrong said the perpetrators tried to extort it of $20 million in Bitcoin. How Coinbase was breached According to the exchange, the threat actors […]
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Telegram has taken down thousands of accounts linked to two massive black-market networks, Xinbi Guarantee and Haowang Guarantee, effectively turning off their operations. Blockchain firm Elliptic reported these networks facilitated over $35 billion in stablecoin transactions through Telegram-based marketplaces. Despite the crackdown, the operators of these illicit marketplaces are reportedly not backing down. Tom Robinson, co-founder […]
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Telegram has now shut down both Haowang and Xinbi, which processed a combined $35 billion of illicit transactions in stablecoins
Spanish law enforcement has dismantled a sprawling underground financial network that allegedly laundered more than €20 million through crypto transactions for organized crime groups based in China and the Arab world, local media reported on May 14. The criminal ring, which police described as one of the largest clandestine crypto-banking operations uncovered in Europe, operated […]
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Illicit marketplaces are a key part of the growing global cyberscams industry, with Southeast Asia being among the hubs for such activity.
France’s Interior Ministry is reportedly set to meet with key players in the country’s crypto industry on May 16 to tackle a rising wave of kidnappings targeting digital asset entrepreneurs, Le Monde reported on May 14. According to the report, Interior Minister Bruno Retailleau said the planned gathering will focus on improving security awareness and […]
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Sandeep Nailwal, co-founder of Polygon, has flagged a troubling rise in deepfake scams using his likeness to deceive crypto founders. Polygon is one of the largest Ethereum layer-2 networks. In a May 13 social media post on X, Nailwal said several individuals recently reached out to verify if he had spoken with them over Zoom. […]
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