In a dramatic crackdown, Shanghai police have dismantled a fraudulent cryptocurrency operation that preyed on unsuspecting investors, posing as so-called "investment masters." This cunning ring, led by individuals identified as Yang and Yu, infiltrated online investment groups, luring victims into a web of deceit.
The scammers directed their targets to a fake cryptocurrency trading platform, promising lucrative opportunities. Once victims began trading, they were manipulated into making multiple transactions, racking up exorbitant fees for the fraudsters. The criminals even devised a fake “profit and loss ratio” mechanism to mask their schemes, tricking investors into believing their losses were due to poor market decisions rather than outright theft.
🚨 The Fallout
Authorities have arrested 16 individuals linked to this operation and are actively investigating the extent of the scam. This case serves as a stark reminder of the dangers lurking in the crypto space and the lengths to which criminals will go to exploit unsuspecting investors.
🔍 Key Lessons for Investors:
1. Beware of Fake Experts: Don’t trust anyone claiming to be an "investment master" without thorough research and verification.
2. Verify Platforms: Always confirm the legitimacy of a trading platform before making investments.
3. Stay Educated: Learn to recognize red flags, such as overly complex schemes or requests for repeated investments.
Cryptocurrency offers incredible opportunities, but it’s also a breeding ground for scams. This case underscores the importance of vigilance and due diligence when navigating the crypto world.
What’s your take on this shocking case? Share your thoughts and tips on staying safe in the comments below!
Stay informed and protect your investments. 🚨
#CryptoScam #InvestmentFraud #StaySafe #ShanghaiNews #CryptoTips

Three Asian banks face a $3 million lawsuit for allegedly failing to protect a client from a scam that cost him nearly $1 million. The banks are accused of neglecting key Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols.
Victim of Crypto Scam Files Lawsuit
Ken Liem, a California resident, has filed a lawsuit against three banks: Fubon Bank Limited in Hong Kong, Chong Hing Bank Limited, and Singapore-based DBS Bank. He claims he was scammed through accounts hosted by these banks.
Liem lost nearly $1 million after being targeted by fraudsters who manipulated him into investing in fake cryptocurrency projects.
"Pig Butchering Scams" – A Dangerous Fraud Tactic
Fraudsters often use a tactic known as "pig butchering scams," where they gain the victim's trust by pretending to be a romantic interest or a reliable connection. Once trust is established, they lure the victim into investing in fake crypto projects.
According to the lawsuit, Liem fell victim to this tactic in June 2023 when he was offered a supposedly lucrative investment opportunity on LinkedIn. Over several months, he transferred nearly $1 million to accounts managed by the aforementioned banks.
Inadequate Safeguards and Alleged Legal Violations
The lawsuit alleges that the banks failed to conduct sufficient KYC and AML checks, which could have flagged suspicious activities. It also accuses the banks of violating the U.S. Bank Secrecy Act, as DBS Bank operates a branch in California, and the other two banks reportedly processed transactions through Liem's U.S.-based Wells Fargo account.
The U.S. Bank Secrecy Act requires financial institutions to monitor, document, and report suspicious transactions to prevent fraud and money laundering.
Additional Entities Named in the Lawsuit
Four Hong Kong-based entities—Richou Trade Limited, FFQI Trade Limited, Xibing Limited, and Weidel Limited—are also named in the lawsuit. These entities allegedly opened accounts in Liem's name and illegally redirected his funds to third-party accounts.
Compensation Demanded and the Broader Impact of Scams
Liem is seeking at least $3 million in damages, holding both the banks and the named entities accountable for the losses incurred.
Pig butchering scams became the most widespread type of cryptocurrency fraud in 2024. According to a report by Cyvers, over $3.6 billion was siphoned from the crypto sector through such schemes.
Other Victims Seek Justice
Many victims of cryptocurrency fraud are turning to courts in search of justice. For instance, Hector Gustav Gutierrez, another U.S. citizen, filed a lawsuit after losing 33 bitcoins in a pig butchering scam orchestrated by a Southeast Asian crime syndicate.
This case highlights the persistent threat of crypto fraud and underscores the need for stricter measures to protect customers.

#Cryptoscam , #CyberSecurity , #HackerAlert , #blockchain , #CryptoNewss

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

😎 Last few months I have been actively looking for the position then I saw a similar incident that now blockchain analyst said crypto hacker targeted crypto professionals for scamming. Here is my experience; I hope it can help you analyze them and take caution if you see some similarities to your own.
👨‍💻 Crypto hackers are now incredibly clever and continuously evolving, just like the crypto industry itself, constantly finding new ways to scam people.

✏️ Now, hackers are creating fake job postings from reputable crypto farms and agencies that promise high salaries. They are active on platforms where most crypto users live, such as Discord, Telegram, Twitter, and LinkedIn.
📝 On LinkedIn, scammers post fake jobs. When you apply, they message you and send documents or software. They trick you into troubleshooting fake technical issues with your microphone and camera, which can lead to malware infection.
📝 Scenario on Telegram & Discord
Similar way they post fake posts on several crypto communities, and they spam on well-known crypto project channels. "Like they hire crypto professionals like blockchain dev, marketer or BD.

💬 When you message them, they reply to you immediately and provide a form that facilitates the hiring process. Then they offer you to install there software check the vulnerabilities, testing the software or they told you that Each beta tester has a specific task. The game has a powerful gaming engine. And tasks, for example: to perform a certain algorithm in a game or to test some kind of player function. And after completing the task, a report is written in the game (what bugs you noticed). Your hourly rate is discussed as well.
🔎 After installing the software, they trick you. and This beta tester design by requires an invite. After I tried their invite code, I couldn't open their software.
💬 I attempted to communicate with them several times, but they did not respond. I also noticed that they appeared inactive on both Telegram and Discord.
🙏 Please be cautious. If you encounter similar tactics on any platform, think twice before proceeding. Don't install suspicious software, and if you do, remove it as quickly as possible.

✋If you have experienced something similar, please share it with us.
#Crypto_Jobs🎯 #crypto #blockchain #cryptoexchange #cryptoscam

Shanghai Police Bust Cryptocurrency Scam Gang
Shanghai police successfully dismantled an organized group of fraudsters who scammed victims through fake investment platforms targeting cryptocurrency traders. Investigators in the Yangpu District arrested 16 individuals involved in the fraudulent scheme following an extensive investigation.
Fraudsters Used Fake Identities and Manipulation
The investigation revealed that the gang, led by individuals identified as Yang and Yu, infiltrated cryptocurrency investment chat groups while posing as “investment masters.” Using this tactic, they gained the trust of victims and directed them to a fake platform for cryptocurrency contract trading, which they had created.
On this platform, the fraudsters exploited victims’ desire for quick profits. Victims were persuaded to execute multiple trades, incurring high fees in the process. Manipulative tactics included convincing victims to increase their investments using a fraudulent “profit and loss ratio” mechanism. This trick led victims to believe their financial losses were due to poor market decisions rather than the fraudulent platform, allowing the gang to extract even more funds.
Arrests and Suspects’ Confessions
Following their arrest, all suspects admitted to their crimes. The Yangpu District police have placed the 16 individuals under compulsory criminal measures on suspicion of fraud. The case is currently under further investigation, according to authorities.
Conclusion
This case highlights the growing risks associated with cryptocurrency investments and fraudulent platforms. Police urge the public to exercise caution when engaging with unverified investment schemes and platforms.

#CryptoFraud , #CryptoNewss , #bitcoin , #ChinaCrypto , #Cryptoscam

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

In late 2021, scammers turned the global hype around Netflix’s Squid Game into a crypto nightmare. By launching the Squid Game Token (SQUID), they exploited public interest to steal $3.3 million in a textbook rug pull.
🚨 What Happened?
Scammers launched SQUID in October 2021, promising a play-to-earn gaming platform inspired by the hit show.SQUID skyrocketed from pennies to $2,860 within weeks, driven by media buzz and FOMO.On November 1, 2021, the price crashed to zero as the scammers disappeared, leaving investors with nothing.
💡 How They Tricked Investors:
Marketing implied a connection to Netflix and Squid Game, though none existed.Investors could buy but not sell tokens, masked as a game feature requiring additional purchases of “marbles.”FOMO, rising prices, and promises of massive returns kept investors hooked despite clear red flags.
🚩 Missed Warning Signs:
No official tie to Netflix or Squid Game.A poorly designed website with grammatical errors.Restricted selling, a classic rug-pull tactic.
📉 Lessons Learned:
Do Your Homework: Always verify claims of affiliation with major brands or projects.Beware of Selling Restrictions: Tokens you can’t sell are a glaring red flag.Anonymous Teams: Extra scrutiny is crucial when a project’s creators hide their identities.
🛡️ Avoiding Future Scams:
This event is a cautionary tale for all investors. Don’t let cultural excitement cloud your judgment, and always prioritize due diligence over hype.
📢 What Do You Think?
Have scams like this affected your crypto journey? Share your insights in the comments below.
#Cryptoscam #Rugpull #SquidGameToken #TheCoinRepublic #CryptoNews

This is an excellent post for engaging with crypto traders and investors!$BTC To follow up with actionable advice and insights, you can create additional posts or videos covering:$SOL

1️⃣ What's Next for LUNC & Terra Ecosystem?
Current State of LUNC: Highlight its journey since the collapse, including community-led initiatives like the LUNC burn mechanism.$BNB Potential Revival: Discuss if and how Terra Classic can regain trust or provide value.

2️⃣ Pure Predictions for 2025
While no one can predict markets with certainty, you can share informed insights based on trends:
Regulation Watch: How global policies on stablecoins could reshape DeFi and altcoin ecosystems.Emerging Projects: Highlight safer and innovative protocols focused on utility over speculation.AI & Blockchain Integration: Growing trends where AI enhances transparency in DeFi.

3️⃣ Traders’ Action Plan Post-LUNA Collapse
Help traders with a clear risk management strategy:
Portfolio Diversification: Limit exposure to high-risk assets like algorithmic stablecoins.Due Diligence Checklist: Offer a checklist for evaluating crypto projects.Market Psychology: Teach the importance of emotional discipline in trading.

Would you like me to create a detailed script or post for any of these angles?

#CryptoCollapse #TerraLuna #LUNC #CryptoScam #BlockchainLessons #DeFiRisks #StablecoinCrisis #CryptoInsights #MarketDownturn #CryptoEducation

The Terra (@Luna ) collapse serves as a stark reminder of the volatile and unpredictable nature of the cryptocurrency market.$BTC
As traders, it is critical to adapt, stay informed, and prioritize risk management to safeguard your investments. Here's what you can do next:

1. Learn from Terra's Collapse
Understand Risks: Avoid overly complex or algorithm-dependent tokens like algorithmic stablecoins.$BNB Due Diligence: Research thoroughly before investing in any project. Don't be swayed by hype or promises of high returns.Diversification: Never put all your funds into a single project or asset class.

2. Focus on Fundamentals
Choose Reputable Assets: Focus on cryptocurrencies with strong use cases, transparent teams, and solid track records (e.g., Bitcoin, Ethereum).$XRP Avoid High-Yield Schemes: If an offer sounds too good to be true, it likely is. Be cautious of platforms promising unrealistically high returns.

3. Practice Risk Management
Set Stop Losses: Define clear exit points for your trades to limit losses.Position Sizing: Never risk more than a small portion of your portfolio on any single trade or asset.Stable Reserves: Keep part of your portfolio in stable assets or cash equivalents to protect against extreme volatility.

4. Monitor Market Trends
Stay updated on macroeconomic factors affecting the crypto market, including regulations, global financial conditions, and technological advancements.Watch out for projects with unsustainable ecosystems or those heavily reliant on external funding.

5. Anticipate Future Developments
Regulatory Changes: Expect more regulations on stablecoins and DeFi projects. Be

#CryptoCollapse
#TerraLunaCrash
#CryptoLessons
#MarketDownturn
#CryptoScam
#DeFiRisks
#AlgorithmicStablecoins
#DoYourResearch
#InvestSmart
#CryptoRegulations

Pepe Coin, the famous “meme coin” that shook the cryptocurrency market this year, is becoming a real nightmare for those who plan to hold it for the long term. Behind the promises of quick profits lie major risks that few investors seem willing to acknowledge.

An artificial rise?

Let’s be clear: Pepe is not a revolution. This cryptocurrency is nothing more than a product of the collective hysteria on social networks, fueled by speculators seeking to attract naive investors. Unlike projects like Bitcoin or Ethereum, which are based on solid fundamentals, Pepe is an empty shell.

The beginning of a potato rumor
One morning, a news spread in the vegetable shop in the market—
“There's a French Fry Festival 🍟 happening in the area! Where everyone can win prizes by making potato fries!”
Hearing this news, the village erupted in an uproar. People rushed to the market with carts, wheelbarrows, and even bicycle baskets. “Give me 10 kg of potatoes!”, “I need 20 kg!”—the shouts began.

Initial Coin Offerings (ICOs) have become an increasingly popular way for companies to raise funds by offering investors a new cryptocurrency. ICOs are typically unregulated and are often used by scammers to defraud unsuspecting investors. In this article, we will discuss the various types of ICO scams and how to DYOR to identify them.

1. What is an ICO?

An ICO is a fundraising method in which a company creates a new cryptocurrency and offers it for sale to investors in exchange for established cryptocurrencies such as Bitcoin or Ethereum. ICOs are similar to Initial Public Offerings (IPOs), but with cryptocurrencies instead of shares.

2. Types of ICO scams

2.1 Exit Scam

Exit scam is a type of fraud where the creators of the ICO disappear after raising funds from investors, leaving investors with worthless tokens. The creators of the ICO may take the funds and never deliver the product or service promised. In some cases, they may even delete their website and social media accounts to avoid detection.

2.2 Pump and Dump Scam

In a pump and dump scam, scammers buy large quantities of a new cryptocurrency and then promote it heavily on social media and other channels to inflate its price. Once the price has risen, they sell their tokens, leaving other investors with worthless tokens.

2.3 Phishing Scam

In a phishing scam, scammers create fake ICO websites that look similar to legitimate ones. They use these sites to collect investor information, including email addresses and cryptocurrency wallet addresses, which they use to steal funds from investors.

2.4 Fake Team Scam

In a fake team scam, scammers create fake profiles of team members with impressive credentials to make the ICO appear more legitimate. However, when investors try to contact these team members, they find that they do not exist.

3. How to identify an ICO scam

3.1 Lack of transparency

If the ICO lacks transparency or fails to provide clear information about its team, product, or business model, it may be a scam.

3.2 Unrealistic promises

If an ICO promises unrealistic returns or claims to have no risks, it is likely a scam. Don't fall in Ludacris claims.

3.3 No clear roadmap

If an ICO does not have a clear roadmap or timeline for the development of its product or service, it may be a scam.

3.4 No code available

If an ICO does not provide access to its code or whitepaper, it may be a scam.

3.5 No clear use case

If an ICO does not have a clear use case for its token, it may be a scam. Usually these kind of project claim revolutionary change but in ground level they are zero.

Initial coins offerings are always a luring aspect for retail investors. The way a project market their ICO is somewhere people got hooked. There's no doubt 100s of good project our there with legit ICO and proper roadmap. But the number is tiny.

The anonymous nature of crypto sometimes boost these types of scam. So next time before investing a lucrative ICO make sure the project tick boxes all those area. If not it's a area of concern and you should do more research before putting penny on that.

Thank you guys reading my article. This article is a part of #feedfeverchallenge so support me by like & sharing this article and comment your opinions about this. If you want help in trading check out our trading posts.

For more follow this page or check our profile for more information. Till then #Trade_safe Friends.

#dyor #ICO #cryptoscam

4. Citations:

"What is an Initial Coin Offering (ICO)?" Investopedia, 2022, https://www.investopedia.com/terms/i/initial-coin-offering-ico.asp

"ICO Scams: How to Identify and Avoid Them," Forbes, 2021, https://www.forbes.com/advisor/investing/ico-scams/ "10 Warning Signs of ICO Scams," CryptoSlate, 2019, https://cryptoslate.com/10-warning-signs-of-ico-scams/

This is a real experience that unfolded tonight, and I’m sharing it to help others avoid falling into the same trap.

It started with a random phone call from a woman with a British accent asking if I’d recovered my Ledger. Confused, I said no. She then asked if I was in the Netherlands—again, no. She explained that an investigation had been opened, and I would soon receive further instructions.

Immediately after, I received an email from Ledger, seemingly legit, complete with a case number about Ledger recovery. The email appeared verified, and I was getting pulled in deeper. Not long after, I got another call, this time from a man named Adam, also with a British accent. He told me my device likely had corrupted firmware, and I was particularly vulnerable because I had just completed a firmware update on my Nano X.

Adam proceeded to explain that someone had recovered my private keys and was only missing my PIN to access my funds, which they could crack in 4 to 6 hours. At this point, red flags were going off, but the stress of the situation clouded my judgment, especially with the email that appeared directly from Ledger.

Adam directed me to a supposed diagnostic site to check for firmware corruption without unlocking my device. The result? A red error code. This heightened my anxiety, but things felt off when I ran the diagnostic again with my Nano X powered off—same error. Then I ran it on my Nano S, which isn’t even wireless, and got the same error. Something wasn’t adding up.

Then came the big ask: he wanted me to use the recovery feature and enter my seed phrase to generate new private keys. Alarm bells went off. Everyone knows to never enter seed words on a computer. He dangled the promise of $50,000 in insurance coverage if I followed "procedure" but hinted I could lose everything if I didn’t act fast.

Sensing the manipulation, I stalled and told him to call back in 30 minutes. Meanwhile, I hopped onto another computer, ran the diagnostics again on the wrong device, and still got the same error code—convinced now this was a scam. I initiated a chat with Ledger’s bot and, sure enough, received an email with a case number almost identical to the one the scammers had sent.

When Adam called back, I casually mentioned that I had opened another case with Ledger to confirm the diagnostic link. Click—he hung up immediately. That’s when I knew it was all a con.

These scammers were clever, using the Ledger chatbot to send emails that appeared legitimate and manipulating me through fear of losing access to my funds. Ledger never contacts you by phone—this is a big red flag to remember.

Fake Ledger Live Scam – $15K Drained from My Nano S

This isn’t the only scam targeting Ledger users. Earlier this year, I became the victim of a phishing attack, where hackers drained $15,000 worth of crypto from my Nano S after corrupting my PC. They deployed a fake version of Ledger Live that prompted me to share sensitive information.

Funds stolen:

0.17804 BTC (Bitcoin) – $7,835.66

10,699.6 ADA (Cardano) – $5,499.18

0.711888 ETH (Ethereum) – $1,592.85

4.0139 LTC (Litecoin) – $261.32

I know I made a critical error by entering my seed phrase, but the sophistication of these scams can fool even cautious users. If you’ve fallen victim, file a police report and share your information—maybe it can help bring these criminals down.

#cryptoscam #MemeCoinTrending #CanaryLitecoinETF

Hello Crypto Enthusiasts,
We've probably all heard of the famous crypto signal groups. If you happen to be unaware of them, they are basically groups where one or more "experienced traders" give you signals on when to buy certain coins and when to sell them. They usually charge a monthly fee to be part of the group. The group I joined offered signals for spot and futures trading with leverage up to 50X.
I saw one of these groups advertised a lot on social media in my country, and they were offering a three-day free trial, so I thought, "Why not? Let's see what it's all about." I joined their Telegram group, where there were about 500 members. In the group, they posted about their supposedly high returns, but interestingly, they never mentioned losses, which is typical. This was the "standard" group, where people who hadn't paid yet were. Since I had the free trial, I was invited to the VIP group.

Commission Uncovers Massive Cryptocurrency Scam
Nigeria’s Economic and Financial Crimes Commission (EFCC) conducted a raid resulting in the arrest of 792 suspects involved in schemes known as crypto romance scams. The fraudsters convinced victims to invest in fake cryptocurrency projects, leading to significant financial losses.
Links to International Groups
EFCC spokesperson Wilson Uwujaren revealed that among those arrested were 148 Chinese nationals and 40 Filipino citizens. The scammers operated from a luxury building in Lagos, Nigeria’s commercial hub. Most of the victims were citizens of the United States and Europe.
During the raid, agents seized computers, mobile phones, and vehicles. Uwujaren stated that Nigerian fraudsters were recruited by international groups to target victims online using phishing techniques. Once the victims’ trust was gained, their information was handed over to foreign counterparts, who carried out the fraud.
Collaboration with International Partners
The EFCC announced it is working with international partners to identify potential links to organized crime. This collaboration aims to strengthen actions against similar fraudulent activities.
Another Case: Nigerian Scammer Defrauds Australians of $5 Million
The arrests follow a separate case involving Osang Otukpa, who allegedly defrauded 139 Australians of $5.04 million (8 million AUD) through a fraudulent cryptocurrency platform called Liquid Asset Group.
Otukpa reportedly used five different aliases and lured victims through social media. EFCC agents apprehended Otukpa on December 6, shortly after he landed at Murtala Mohammed International Airport in Lagos. According to reports, he will be charged once the investigation is complete.
Conclusion
The EFCC continues to intensify its efforts to combat cryptocurrency fraud, working closely with global partners to curb these illegal activities. The crackdown on 792 suspects and cases like Otukpa’s highlight Nigeria’s strengthened fight against financial crimes.

#hackers , #Cryptoscam , #cryptofraud , #CryptoSecurity , #CryptoNewss

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

$320 Million Hack Leads to Liquidation
Japanese crypto exchange DMM Bitcoin has announced its closure following a cyberattack that resulted in a loss of $320 million. Despite months of attempts to recover customer funds, the company ultimately decided to transfer its remaining accounts to another operator, SBI VC Trade.
Lazarus Group Suspected as the Culprit
Renowned crypto analyst ZachXBT has pointed to the Lazarus Group, a North Korean hacker collective, as the likely perpetrator of the attack. His investigation traced approximately $35 million of the stolen funds to a Cambodian money-laundering network and found strong evidence of the group’s involvement. However, DMM Bitcoin did not gain any tangible benefits from these findings.
DMM Bitcoin’s Official Statement
According to The Nikkei, DMM Bitcoin stated its decision to close the exchange was made with the protection of its customers as the top priority. In a previous statement, the company explained:
"Protecting our customers is our number one priority. Therefore, we have decided to transfer all accounts and assets to another company. We sincerely apologize for the inconvenience caused. We plan to cease operations once this transfer is complete."
The exchange attempted a fundraising effort in June to recover customer losses. Despite these efforts, the losses could not be fully compensated, leading to the decision to transfer its assets to SBI VC Trade and wind down operations.
Call for Stricter Security Measures
The case of DMM Bitcoin underscores the need for robust security protocols for cryptocurrency exchanges. Shortly before DMM Bitcoin’s closure, Japanese financial regulators warned other platforms to implement tighter oversight and enhanced security measures.
Crypto Hacks Declining, but Risks Remain
While the overall number of cryptocurrency hacks is decreasing, their sophistication continues to grow. The DMM Bitcoin incident serves as a reminder for users to rely exclusively on trusted and secure platforms.

#CryptoHack , #Cryptoscam , #HackerAlert , #CryptoNewss , #BTC☀

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“