Cryptocurrency Scams

Europol and six nations dismantled a network laundering proceeds from major crimes, arresting nine and seizing evidence, €35,000 in cash, and €25 million in cryptocurrencies.

Seven individuals, including a key Indonesian suspect, are being sought in connection with the Gigamax cryptocurrency investment scam, which resulted in RM7.25 million in losses. Authorities have arrested 11 people and are continuing the investigation to uncover the full extent of the fraud.

Scammers are targeting crypto investors through social media platforms like YouTube, WhatsApp, and Telegram, offering fake trading advice and fraudulent investment schemes. They lure victims with fake platforms, celebrity endorsements, and manipulated interactions, leading to significant financial losses.

Nigeria's EFCC arrested 792 suspects in Lagos, dismantling a cybercrime ring operating out of the Big Leaf Building, which was used for romance scams and fraudulent cryptocurrency schemes. The suspects, including foreign nationals, were found using high-tech equipment to deceive victims worldwide, primarily in the US, Canada, and Europe.

A 32-year-old Singaporean man tied to a crypto scam gang has been arrested in Thailand for his role in a 22.4 million dollar scam.

A 32-year-old Singaporean was arrested in Thailand for his role in a cryptocurrency scam that defrauded investors of 22.4 million baht. The scam involved a fake trading platform that tricked victims into transferring money to fraudulent accounts controlled by a criminal network.

Drake's X account was hacked to promote a fake Solana-based meme coin, “Anita,” exploiting his ties to the gambling platform Stake. The scam tricked followers into investing over $5 million before the posts were removed.

Nuruhussein Hussein is accused of posing as an Uber driver to steal hundreds of thousands in crypto by tricking passengers into handing over their phones. Are ride-hailing services becoming a new target for criminals?

Australia is tightening its grip on cryptocurrency regulation with new proposals aimed at preventing financial crimes such as money laundering and terrorist financing.

Taiwanese prosecutors are investigating the death of Miffy Chen, a leading crypto forensics expert, who died in a car crash on 4 December. Chen’s work helped law enforcement seize NT$9.3 billion in suspected illegal assets from 60 fraud cases this year. Her death prompts questions: was it an accident, or is there more to uncover?