News with the tag "Pig Butchering"

With criminals using fresh tactics to maximize their illegal earnings, the terrain of crypto scams is changing at a concerning speed. Recent data from blockchain forensics firm Chainalysis reveals a significant shift in how scammers operate, showing a preference for targeting more victims with small...

The world’s largest illicit online marketplace keeps growing following the launch of its own crypto products, according to Elliptic.

California resident Ken Liem has accused three banks of failing to perform adequate checks that could have blocked the scammers from opening accounts in the first place.

Nigerian authorities arrested nearly 800 individuals who allegedly operated crypto “pig butchering” scams targeting North American and European victims. In a pig butchering scam, bad actors form a relationship with victims online to gain their trust and convince them to invest in fake opportunities ...

Nigeria’s anti-corruption agency arrested 792 suspected to be involved in a crypto romance scam scheme based out of the country’s largest city.

Daren Li oversaw the transfer of more than $73 million away from crypto scam victims to wallets he and his co-conspirators controlled.

Daren Li is looking at a maximum of 20 years in prison after pleading guilty to his role in laundering crypto in a $73 million scam scheme.

A court in The Hague has ordered Binance to release the name and address of an account holder linked to a $200,000 (€186,000) dating scam, according to the Netherlands Times. The case involves a woman who was persuaded over the summer to invest in cryptocurrencies by someone she met on a dating app....

With the rising pig butchering scams and investors losing their hard-earned money, the FBI has to be active in dealing with the scams. Just recently, the authorities have gotten their hands on a year-old case, impacting more than 30 people and the bankruptcy of the Kansas Bank. More importantly, the...

Hong Kong authorities have dismantled a HK$360 million ($46.3 million) cryptocurrency-based romance fraud scheme in a significant crackdown on fraud operations. This scheme, which targeted individuals over a year, reportedly lured victims into investing in cryptocurrencies under the guise of online ...