Frauds Archives - Free Bitcoin Earning Sites

Kucoin Loses $150 Million in Hacking Attack on Exchange’s Hot Wallets

September 26, 2020 Ethereum News, Frauds, Global, News Eddy 0

Kucoin announced on September 26 that the cryptocurrency exchange detected unusual withdrawals from its hot wallets, and a deeper look into the issue revealed that several ERC-20 tokens and also Bitcoin were affected by an attack from hackers. An estimated $150 million worth of assets may have been stolen. A post-mortem report has yet to […]

Crypto – The Face of Financial Corruption & Crime, But Is It Really?

September 23, 2020 Crypto Scam, Frauds, News, Regulation, Regulations Eddy 0

Discussions around cryptocurrency have not strayed far from financial crime such as money laundering and financing terrorism, while governments and central financial institutions are constantly painting cryptocurrency as a medium feeding a hive of criminal activity. There is undoubtedly some truth to this, but the crypto community has long been criticizing the biased narrative forced […]

Scammer Hijacks Multiple Thai Youtube Channels, Turned Into Bitcoin Scam Live Streams

September 20, 2020 Crypto Scam, Frauds, Hacks, News Eddy 0

Bitcoin scammers are stepping up their game when multiple Thai Youtubers reported that their channels have been hijacked and turned into Bitcoin scam live streams. The incidents happened last week as one of the Youtube gaming channel “Maser Gamer” with more than 3.6 million subscribers has announced on his Facebook fan page that his channel […]

Third Hacking Incident for DeFi Protocol bZx; $8 Million in Assets Allegedly Lost

September 15, 2020 Frauds, News, Regulations Eddy 0

The question of whether DeFi protocols have been sufficiently secured is one which has gone unanswered thus far as hacking incidents continue to hit various DeFi projects in the space. Plenty of DeFi protocols in the market at present have not yet gone through full audits of their codes, while others have flaws in the […]

Singaporean Man Sentenced to 3 Years Jail & 12 Strokes of Cane in 2018 Bitcoin-Related Scam

September 12, 2020 Frauds, News, Regional Eddy 0

In one of the harsher sentences ever meted out for being involved in a Bitcoin scam, a Singaporean man will be facing a three-year jail term and also corporal punishment, which the city island became infamous for in 1994 after sentencing an American teenager to six strokes of the cane for vandalism. Jaromel Gee Ming […]

Windows Users Beware – New Wallet Data Stealing Malware On The Loose

September 7, 2020 Frauds, Global, News Eddy 0

Technology and internet behemoth Microsoft’s security arm, Microsoft Security Intelligence, published a tweet on August 27 alerting Windows users of a malware called Anubis, which they found to be targeting credit card credentials and also cryptocurrency wallet details. A new info-stealing malware we first saw being sold in the cybercriminal underground in June is now […]

Illegal Malaysian Crypto Farms Stole $600K Worth of Electricity

September 1, 2020 Business, Frauds, Mining, News Eddy 0

Electricity is the lifeline of all Bitcoin mining operations and farms, but it does not often come cheap unless you’re situated somewhere in the Sichuan province of China known for providing electricity at a subsidized price. Across the globe, cheap electricity is a scarce but necessary resource for Bitcoin miners looking to turn a sizable […]

Ethereum Classic Network Gets Hit A Third Time by Hackers in 51% Attack

August 31, 2020 Blockchain Tech, Blockchain Technology, Frauds, Hacks, News Eddy 0

After making the news for a two-time 51% attack on the Ethereum Classic (ETC) Network in early August, hackers have made a third attempt and succeeded in reorganizing more than 7,000 blocks, according to a tweet by Bitfly. Today another large 51% attack occurred on the #ETC network which caused a reorganization of over 7000 […]

Major 2017 Bitcoin Scam Defendant MIA; CFTC Proposing More Than $500 Million in Penalties

August 24, 2020 Bitcoin, Crypto Scam, Frauds, News, Regulation, Regulations Eddy 0

The man responsible for an alleged crypto Ponzi scheme back in 2017, Benjamin Reynolds, may be charged with $572 million in penalties for the fraudulent scheme, that is, if the US Commodity Futures Trading Commission (CFTC) can locate him. Reynolds, Director of UK-based firm Control Finance which has ceased operations since 2017, failed to turn […]

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