The largest Ponzi scheme in the crypto world, as Leaprate reported not long ago, is OneCoin. While there are many fake ICOs, OneCoin stands out as the largest one - defrauding the global economy of approximately $4 billion in under 5 years. While the founder, Ruja Ignatova, and her brother are the main "heroes" of…
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The Mt. Gox bitcoin hack is probably the most vivid example of how fragile the cryptocurrency world has been in the near past. Mt. Gox was a bitcoin exchange based in Japan that handled over 70% of all bitcoin transactions around the world, and was the leading crypto exchange during 2010 - 2014. However, Mt.…
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At the end of July 2019, an ex-Amazon employee was suspected of hacking Capital One and the news brought about mixed opinions about technology, the personal responsibility of employees, and most of all - security. The suspect in question is a 33-year old woman who was actually arrested in Seattle over the massive hack at…
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The US Treasury, or more specifically its Office of Foreign Assets Control (OFAC) has recently blacklisted three Chinese residents and their respective crypto accounts. The reason? Smuggling of drugs and money laundering allegations. The three Chinese individuals are the following: Guanghua Zheng, Xiaobing Yan and Fujing Zheng. All three of them are currently named as narcotics traffickers and…
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North Korea is making news as, according to a draft report from the United Nations, the country has stolen around $2 billion in a wave of cyber attacks on cryptocurrency exchanges and financial institutions in an effort to fund military weapons program. The report was submitted to the Security Council committee this past week by…
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Monetary Authority of Singapore (MAS) has informed the public that a website has been soliciting investments in Bitcoins by using fabricated comments attributed to Emeritus Senior Minister Goh Chok Tong (Senior Advisor to MAS). The website’s article on Bitcoins references statements purportedly made by ESM Goh which are either false or have been taken out…
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The news around cryptocurrency exchanges are not always exciting, as the most common news is about stolen funds and illegal activity. Just recently, hackers stole $40 million worth of crypto from Binance. As Leaprate reported back in May, 2019: "The stolen amount is equal to 7,000 Bitcoins. Not only did the hackers steal the staggering…
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Never underestimate the persistence of a cyber criminal in the pursuit of his target. If one avenue is successfully blocked, the crook is fully capable of having his deception scenario morph into something even more undetectable, before launching a second attack. A little over a week ago, we reported that a clever YouTube video on…
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Cryptocurrency scams and theft are undeniably two of the largest and most serious problems in the crypto space. Security issues arise almost every month now. The latest “casualty” was Binance, through which hackers stole $40 million in digital coins. The stolen amount was equivalent to around 7,000 Bitcoins at that time. Hackers stole API tokens…
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The Commodity Futures Trading Commission (CFTC) and the US Securities and Exchange Commission (SEC) have recently issued a warning for investors against fraudulent websites purporting to manage trading and businesses advisory. Essentially, the warning is targeted at cryptocurrency investors who need to be extremely cautious when investing in any cryptocurrency or crypto-related business. The warning was issued on…
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