In an ironic twist of fate, the hacker behind February’s $9.57 million exploit on zkLend has allegedly fallen victim to another scam. The suspected criminal claimed in an on-chain message that they lost 2,930 ETH, worth about $5.4 million, while trying to launder the stolen funds through Tornado Cash. The zkLend Hack zkLend also confirmed...Read More
A disturbing trend emerges in the demographic profile of pig butchering scam victims. While older adults have historically been the main targets of financial fraud, these scams now focus on younger, tech-literate individuals. The latest data reveals that those aged 30 to 49 represent the majority of reported cases. Pig Butchering Scams A 2024 study...Read More
The Solana blockchain has come under fire, with critics calling it a breeding ground for speculative assets. However, Helius Labs CEO Mert Mumtaz argues that the chain is being unfairly blamed for trends that exist across all networks. The Meme Coin Scourge Solana’s recent surge in activity has been largely fueled by meme coins, including...Read More
The rapid rise and collapse of the LIBRA meme coin have fueled suspicions of a rug pull, with blockchain data pointing to insider trading. Before the meltdown, several industry experts had warned about LIBRA’s tokenomics and raised concerns over its sustainability. Investigations now reveal ties between LIBRA’s creators and previous pump-and-dump schemes which suggests a...Read More
Two Estonian citizens pleaded guilty yesterday to running a massive cryptocurrency Ponzi scheme that defrauded hundreds of thousands of investors worldwide, including in the United States. The scheme involved a fraudulent crypto-mining service called HashFlare, resulting in investor losses of over $577 million. Founders Agree to Forfeit $400M in Assets According to court documents, Sergei...Read More
Over the past two months, Coinbase users have reported a surge in account restrictions, which appear linked to the company’s aggressive risk models and an ongoing wave of social engineering scams. ZachXBT believes that the blame for the losses lies with Coinbase’s leadership, failing to report theft addresses, offer responsive support, and react swiftly to...Read More
A New York court has sentenced Antonia Perez Hernandez, a key promoter in the Forcount Ponzi scheme, to 30 months in prison. The ruling, delivered by U.S. District Judge Analisa Torres on January 27, follows Hernandez’s guilty plea to conspiracy to commit wire fraud. A Web of Lies The Tampa resident is said to have...Read More
Dean Norris, best known for his role in Breaking Bad, has become the target of hackers again. His X account was recently compromised to promote a fraudulent meme coin named DEAN. Details from the Exploit An X user who shared a screenshot of the deleted posts described the incident as one of the “most believable”...Read More
The official X account of the global electronic marketplace Nasdaq was apparently hacked and used to promote a fake meme coin named STONKS. Blockchain data shows that the bogus token’s market cap skyrocketed to $80 million before eventually collapsing. How the Scam Unfolded According to various reports, the attackers took control of the Nasdaq account...Read More
Dubai-based crypto market maker CLS Global will plead guilty to charges related to wash trading on the decentralized exchange Uniswap. Federal prosecutors in Boston announced Wednesday that the company will face market manipulation and wire fraud charges after falling victim to an FBI sting operation. $428K Fine and U.S. Market Ban As part of the...Read More
Telegram-based malware scams have now outpaced traditional phishing attacks, according to Scam Sniffer’s troubling findings. From November 2024 to January 2025, incidents involving malicious Telegram groups surged by over 2000%, while conventional phishing methods remained stable. Unlike the typical “connect wallet” scams, these new tactics involve more sophisticated methods such as fake verification bots, fraudulent...Read More
Prominent crypto research firm SoSoValue has warned about a bogus token, SOSO, deployed on the Binance Smart Chain (BSC). The company clarified that it had not released any official cryptocurrency and urged users to remain cautious to protect their assets. Scammers Use Funding News to Lure Victims SoSoValue’s warning came after on-chain analytics platform CoinSpeedrun...Read More
Several account hijackings on X over the weekend have raised alarm in the crypto community. The incidents involved the official accounts of Litecoin, Foresight Ventures, and Holoworld AI being compromised to promote fraudulent cryptocurrencies and phishing links, exposing users to potential scams. The Incidents On January 11, Litecoin confirmed that bad actors had accessed its...Read More
PeckShield’s latest analysis reveals a troubling spike in crypto-related security breaches in 2024 alongside a bull market. Despite the grim statistics, recovery efforts have managed to reclaim hundreds of millions in stolen assets. Crypto Losses in 2024 PeckShield’s 2024 Crypto Security Annual Report reveals that the year witnessed a resurgence in crypto-related breaches, with total...Read More
Russian authorities are reportedly looking to liquidate a major Bitcoin stash seized during investigations into an international cybercrime gang that operated between October 2010 and February 2018. According to local reports, the government will initially dispose of about $10 million worth of BTC and plan to sell more than 1,000 BTC, which are currently valued...Read More
There has been a significant reduction in losses from exploits, hacks, and scams in December compared to previous months. The latest report by blockchain security company CertiK recorded a total of approximately $28.6 million in losses – the lowest monthly figure in 2024. December Crypto Losses Are 2024’s Lowest Exploits dominated the financial impact, accounting...Read More
After a brief hiatus, the notorious “Blockchain Bandit” has re-emerged as the year ends, consolidating a staggering 51,000 ETH, valued at approximately $172 million, into a single multisig wallet. This transfer was made on December 30. “Blockchain Bandit” Returns In the latest update, prominent blockchain investigator ZachXBT revealed that the consolidation originated from 10 wallets, which...Read More
A new crypto scam appears to be flipping the script on thieves. By publicly sharing seed phrases, scammers set up bait wallets that entangle opportunists in a deceptive scheme designed to exploit their attempts to steal funds. According to cybersecurity firm Kaspersky’s latest findings, scammers post crypto wallet seed phrases on YouTube comments using newly...Read More
Crypto exchange giant Binance reportedly stopped more than $129 million from being lost to criminals in 2024. In its Anti-Scam Refund Initiative end-of-year report, the company outlined how it deployed cutting-edge artificial intelligence (AI) and machine learning (ML) technologies to transform digital asset security from reactive measures to proactive defense strategies. Anti-Scam Initiative According to...Read More
Blockchain investigator ZachXBT has exposed a sophisticated phishing operation that has managed to compromise over 15 X accounts. The scheme targeted investors in Solana-based meme coins and has resulted in an estimated loss of $500,000. Solana Meme Coin Fraud The Blockchain detective revealed in a December 24 social media post that the operation involved impersonating...Read More
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned two individuals and one entity involved in a network laundering millions of dollars in illicit funds for North Korea. Lu Huaying and Zhang Jian, based in the United Arab Emirates (UAE), used a UAE-based front company to facilitate money laundering and...Read More
Nigeria’s Economic and Financial Crimes Commission (EFCC) on December 10 arrested 792 people linked to a massive crypto-romance scam operating out of Lagos. The suspects, who included 148 Chinese, 40 Filipinos, and several other foreign nationals, were caught during a surprise raid at an imposing seven-story structure known as Big Leaf in the affluent Victoria...Read More
The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against Francier Obando Pinillo, a pastor from Pasco, Washington, accusing him of running a fraudulent cryptocurrency Ponzi scheme worth at least $5.9 million. The complaint names Pinillo and his associated businesses, Solanofi, Solano Partners Ltd., and Solano Capital Investments, collectively known as the...Read More
Five individuals associated with IcomTech, a cryptocurrency Ponzi scheme that defrauded investors of $8.4 million, were ordered by a federal court to pay over $5 million in restitution and penalties. The December 11 ruling by the United States District Court for the Central District of California also included prison sentences for three of the defendants....Read More
A new wave of crypto scams has emerged, with attackers using fake X accounts to impersonate popular influencers and lure unsuspecting users into fraudulent Telegram groups. Users are then manipulated into installing malware that compromises crypto wallet data. Scammers Moving Beyond Simple Phishing Scams According to blockchain security firm Scam Sniffer, the scammers comment on legitimate...Read More
Fox News reporter Eleanor Terrett has warned of a deceptive news article circulating online. The publication used her name and official Fox News graphics to promote a scam involving a non-existent BlackRock token. The Fraudulent Piece Terrett raised the alarm on X, stating: “There’s a fake article circulating using my name and official Fox graphics...Read More
On December 6, a cryptocurrency user known as “LeftsideEmiri” on X shared that they had lost $300,000 after interacting with a fraudulent work meeting link. In a thread, the individual described the incident as a social engineering attack, emphasizing that they had not approved or signed any transactions. $300K Lost In Attack “Thought it would...Read More
Prominent blockchain detective ZachXBT has uncovered a hacking spree targeting popular accounts on X and Instagram, which fueled a wave of pump-and-dump schemes linked to meme coins launched on Pump.fun. Celebrities such as musicians Usher and Wiz Khalifa, actor Dean Norris, as well as a Japanese public aquarium fell victim to these attacks. Hacks Targeting...Read More
An unnamed cryptocurrency holder recently lost more than $3 million worth of PYTH tokens after erroneously transferring them to a scammer’s wallet. The mistake happened when the victim, relying on their transaction history, copied and used a fake deposit address. The High Cost of a Small Mistake According to a November 25 post by blockchain...Read More
Federal prosecutors in the United States have filed charges against five individuals accused of carrying out a complex phishing and hacking operation that targeted employees of companies across the country. According to authorities, the scheme led to the theft of intellectual property, sensitive corporate data, and millions of dollars in cryptocurrency, including $6.3 million stolen...Read More
