cryptofraud

A 46-year-old woman from the western Russian city of Kursk has fallen victim to a large-scale cryptocurrency investment scam, losing 28 million rubles over the course of one year. The case was disclosed on Monday by Russia’s Ministry of Internal Affairs.
According to police, the woman was initially contacted via a messaging application by a man who claimed to be living in an Arab country. The scammer presented himself as an experienced cryptocurrency investor and gradually gained her trust by portraying detailed knowledge of crypto markets.
He told the victim she could earn significant profits by following his instructions, which began with downloading a specific mobile application allegedly used for crypto investing.

Scam Built Over a Year Using the “Pig Butchering” Method
Russian investigators said the case followed a classic “pig butchering” scheme—a long-term fraud technique in which perpetrators build trust with victims over time and gradually persuade them to invest increasingly large sums.
The scammer promised high and stable returns, guided the woman step by step through the supposed investment process, and encouraged repeated transfers of funds in cryptocurrencies. Investigators said it took roughly one year for the perpetrator to fully execute the scheme.
As the fraud progressed, the victim exhausted her personal savings and, believing that higher investments would lead to even greater profits, sought additional funding.
“She sold three apartments, a car, a gold bar, took out bank loans, and borrowed money from acquaintances to raise more funds, convinced that future returns would offset the losses,” authorities said.
Once the woman ran out of money, the scammer deleted all communication records and cut off contact entirely, prompting her to report the incident to the police.

Crypto “Pig Butchering” Scams Continue Across Russia
Russia’s Interior Ministry said it is investigating several similar cases reported in other regions of the country.
In the Kirov region, a woman lost more than 2 million rubles after trusting investment promises from fake cryptocurrency exchanges. Like the victim in Kursk, she believed her funds were generating steady returns, only to later discover that both the platforms and contacts were fraudulent.
Another case involved a 63-year-old man from the city of Kirov, who lost approximately 3 million rubles in late July after communicating with scammers via a messenger app. The fraudster posed as a financial adviser offering an “easy and profitable way to make money through cryptocurrency trading” in exchange for a 20% share of the profits.
The man agreed, registered on a fake trading platform, and transferred funds to accounts provided by the unknown contact. Police said he invested his own savings and later added borrowed money, bringing the total amount transferred to 2,981,000 rubles.

Similar Scams Reported in Belarus
Comparable schemes have also been reported in Belarus. A 23-year-old woman from Minsk contacted the Soviet District police after realizing she was unable to withdraw the money she believed she had earned.
According to her statement, she encountered an advertisement on a social media platform and left her phone number after clicking on a link. She was subsequently contacted by someone claiming to be an analyst from an investment platform.
The woman registered on a specialized website and, over two months, transferred approximately 50,000 rubles to an electronic wallet. When she attempted to withdraw her funds, the fake analyst demanded additional deposits, prompting her to suspect fraud and contact the authorities.

#Cryptoscam , #CryptoFraud , #russia , #cybercrime , #CryptoNews

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The year 2025 went down in crypto market history as the worst year on record for security incidents. Although the year started relatively quietly, attacks gradually intensified and, more importantly, changed in structure. According to aggregated data from security firm PeckShield, total losses exceeded $4.04 billion, representing a year-over-year increase of 34.2%.
For comparison, estimated losses in 2024 stood at approximately $3.01 billion. While earlier years were dominated by isolated exploits, 2025 was defined by highly targeted and sophisticated attacks against centralized exchanges, smart contracts, and even Web3 development teams themselves.

Hacks and Scams: Two Primary Attack Vectors
Overall losses in 2025 can be divided into two main categories.

Direct hacking incidents accounted for roughly $2.67 billion, marking a 24.2% increase year over year. Even more dramatic was the surge in fraud-related losses, which reached $1.37 billion, a staggering 64.2% increase compared with the previous year.
At the same time, recovery efforts became less effective. While nearly $488.5 million was recovered in 2024 through transaction tracing and token freezes, that figure fell to just $334.9 million in 2025. Attackers clearly became faster, more coordinated, and better at obscuring fund flows.

The Bybit Hack: A Defining Event of 2025
One of the most significant incidents of the year was the hack of the Bybit exchange, which alone resulted in losses exceeding $1.4 billion, largely in Ethereum. This single event heavily influenced annual statistics and became emblematic of a broader reality: even major centralized platforms are not immune to advanced attacks.

North Korea and Its Dominance in Web3 Exploits
According to data from Hacken, North Korean hacking groups were responsible for as much as 52% of total gains from Web3-related attacks in 2025. The second half of the year proved especially dangerous, with a sharp acceleration in attacks on DeFi protocols, particularly newly launched decentralized exchanges (DEXs).
In contrast, bridge exploits were less frequent than in previous years, as cross-chain bridges became less central to ecosystem activity. Instead, attackers relied on more mature laundering and swapping infrastructures. Tornado Cash remained a preferred tool for Ethereum-based funds, while advanced DEX routing enabled rapid conversion and dispersion of stolen assets.

Smart Contract Vulnerabilities and Cloned Protocol Risks
Vulnerabilities in smart contracts accounted for approximately 12.8% of all exploits. Attacks were not limited to large protocols—smaller vaults and contracts were frequently targeted whenever a known and relatively simple flaw was identified.
Risk was further amplified by the widespread use of cloned smart contracts across Web3 projects. Once a vulnerability was discovered in one implementation, attackers were able to replicate the exploit across multiple platforms in rapid succession.

Attacks Shift From Infrastructure to People
One of the most important trends of 2025 was a decisive shift away from mass phishing campaigns toward highly targeted attacks on individuals. Hackers increasingly focused on Web3 development teams, which often control multisignature wallets, high-value vaults, and administrative permissions for smart contracts.
A particularly effective new vector involved fake job recruitment campaigns. Attackers posed as legitimate projects, posted developer job listings, and distributed malware during the hiring process. The malware was often disguised as a meeting link or technical document and, once executed, gained access to private keys stored on the compromised system.

Multisignature Wallets Emerge as a Critical Weak Point
Access control failures became one of the most serious systemic weaknesses. As much as 53% of all hacks were linked to direct access to multisignature wallets. The remaining losses resulted from a combination of user error and smart contract flaws, particularly unauthorized minting, withdrawals, or manipulation of DeFi tokens.
This pattern continued into 2026. The first major hack of the new year, involving the TrueBit protocol, followed a similar model, allowing an attacker to mint and withdraw unauthorized tokens and steal up to $26 million.

Conclusion: 2025 as a Warning for the Entire Crypto Sector
The events of 2025 made it clear that crypto security is no longer just about code—it is fundamentally about people, processes, and access management. Attackers adapted faster than defensive systems and moved decisively toward the weakest points in the ecosystem: key individuals and operational control layers.

#CryptoSecurity , #CryptoScams , #CryptoFraud , #CryptoNews , #cybercrime

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U.S. federal authorities are investigating another cryptocurrency fraud case involving a fake romantic relationship, this time seeking to seize digital assets worth approximately $200,000. According to prosecutors, the funds are linked to a carefully orchestrated online investment scam.
The U.S. Attorney’s Office in Massachusetts confirmed that on January 12, 2026, it filed a forfeiture complaint targeting 200,039.646 USDT, which investigators say was obtained through manipulation on an online dating platform. The case is part of a broader wave of so-called romance-investment scams, which have surged in recent years.

How the Scheme Worked: Trust First, Money Later
The investigation began in April last year, when federal agents started probing a case involving a Massachusetts resident who became the target of a sophisticated online fraud. According to the Department of Justice, the operation followed the well-known “pig-butchering” model — a scheme in which scammers slowly build trust before exploiting victims financially.
The victim was initially contacted on the dating app Tinder by an individual using the name “Nino Martin.” After establishing rapport, the conversation was moved to WhatsApp, where the scammer claimed to be a professional financial advisor. Over time, the victim was persuaded that they could profit from cryptocurrency trading.
Following the scammer’s instructions, the victim opened an account on what later turned out to be a completely fraudulent trading platform. Early on, the site displayed convincing “profits,” reinforcing the illusion of legitimacy. However, when the victim attempted to withdraw funds, banks flagged the activity and froze several accounts due to suspicious transactions.

Bypassing Safeguards and Losing Over Half a Million Dollars
After the bank intervention, individuals linked to the fake platform contacted the victim again, providing detailed instructions on how to bypass security measures and continue transferring funds. Before law enforcement or federal authorities were notified, the victim had sent approximately $504,353 to the alleged scammers.

Blockchain Tracing and Asset Seizure Efforts
Federal investigators were later able to trace a portion of the stolen funds to a specific cryptocurrency wallet. In June 2025, authorities took control of that wallet. The latest court filing outlines the legal process for handling any competing claims to the assets.
If no party can demonstrate a legitimate right to the funds, the cryptocurrency will become government property and may ultimately be returned to the victim.

Part of a Broader Crackdown on Crypto Fraud
Prosecutors emphasized that this is not an isolated case. In recent months, federal authorities have filed multiple forfeiture actions aimed at recovering cryptocurrency tied to investment and romance scams affecting residents of Massachusetts.
U.S. law prohibits using electronic communications to defraud individuals or obtain property through false representations, as well as conducting financial transactions intended to conceal the origins of criminal proceeds.
The case involves the U.S. Attorney’s Office, the Boston field office of the FBI, and a specialized asset-recovery unit. Law enforcement officials are urging anyone who believes they may have been targeted by investment scams, romance scams, or business email compromise schemes to come forward, as early reporting significantly improves the chances of fund recovery.
As with all civil forfeiture cases, the allegations outlined in court documents are claims only. All individuals involved are presumed innocent unless and until proven guilty in a court of law.

#Cryptoscam , #CryptoFraud , #USDT , #CryptoCrime , #CryptoNews

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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.“

📅 January 7 | Asia
For years, crypto scams known as “pig-butchering” have operated in the shadows, fueled by promises of love, impossible investments, and fake platforms that drained billions of dollars from victims worldwide. Now, one of the most powerful names allegedly linked to this global network has been arrested.

📖The Cambodian Ministry of Information confirmed that Chen Zhi, chairman and founder of the Prince Group, was arrested this week and subsequently deported to China at Beijing's request, following a joint investigation between the two countries. Cambodian authorities did not clarify whether Chen Zhi will face formal charges in China, but his transfer marks a key turning point in a case that has been shaking governments and regulators for months.
According to US prosecutors, Chen Zhi allegedly ran a vast network of forced labor scam centers in Cambodia, from where cryptocurrency investment and romance frauds were executed. These operations, known as “pig-butchering scams”, have allegedly generated billions of dollars by exploiting international victims through messaging apps and fake trading platforms.
In October, the U.S. Department of Justice announced its largest forfeiture action ever, seeking the seizure of approximately $15 billion in bitcoin, in addition to hundreds of millions in real estate and other assets allegedly linked to the criminal network. The scale of the amount made the case one of the largest in the history of cryptocurrency-related financial crime.
Cambodian authorities noted that Chen Zhi's citizenship was revoked at the end of 2025, an unusual move that suggests a significant political rift between the businessman and the state. However, the case has been further complicated by a narrative clash between the United States and China regarding the origin and custody of some of the seized bitcoins.

Topic Opinion:
The alleged $15 billion scam not only highlights the industrial scale these frauds have reached, but also the inability of the international system to deliver clear justice when money is digital and power is geopolitical.
💬 Who will ultimately control the $15 billion in BTC?

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#bitcoin #Cryptoscam #CryptoFraud #BTC #CryptoNews $BTC

Scammers using Bitcoin ATMs stole over $333 million from Americans between January and November 2025, according to a recent report from the Federal Bureau of Investigation (FBI).

Sharp Rise Compared to Last Year
This figure marks a significant jump from the roughly $250 million lost to similar schemes in 2024. The FBI notes that scams involving crypto kiosks are “not slowing down” and continue to intensify.

A Perfect Tool for Criminals
One of the main factors behind the surge is the speed and irreversibility of transactions carried out via Bitcoin ATMs. These kiosks allow users to deposit cash and instantly convert it into cryptocurrency, sending it directly to digital wallets—something scammers exploit with ease.
Fraudsters commonly pose as government agents or banks, pressuring victims to make urgent payments to avoid penalties or legal consequences. Once the money is deposited and transferred via the ATM, it’s nearly impossible to recover, according to the FBI.

More ATMs, More Scams
As of now, there are more than 45,000 Bitcoin ATMs installed across the United States. While these machines offer convenience to crypto users, they also present growing opportunities for criminals, who constantly evolve their techniques to appear more convincing and harder to detect.

A Clear Warning to the Public
The FBI urges the public to never send cryptocurrency through a kiosk in response to unsolicited requests, threats, or pressure tactics—regardless of whether the caller claims to be from the police, IRS, or a financial institution. Any demand for immediate payment should raise red flags.

Fast transactions, zero recourse – a deadly combo criminals have mastered.
Want to stay safe? Never send crypto based on a phone call or email that pressures you. In crypto, once it's gone, it's gone for good.

#bitcoin , #Cryptoscam , #FBI , #CryptoFraud , #CryptoNews

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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.“