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Paxful CEO Denied Data Breach Rumors On His BTC Exchange

Ray Youssef, the Paxful CEO denied data breach rumors on the exchange after an alleged stolen database of the user data started making rounds on the online marketplace Raid Forums so let’s read more in our latest cryptocurrency news today. The seller on Reid Forums which is an online market for stolen data was selling a database that had personal info of about 4.8 million Paxful customers and staff at the P2P BTC exchange. The seller under the handle “mafufi” claims that there are first and last names, email addresses, passwords of Paxful clients as well home addresses and birth…

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Call Of Duty Players Were Hit With New Crypto-Mining Malware

Call of Duty players were hit with crypto-mining malware with hackers deceiving gamers by promising victories according to the cybersecurity researchers at Activision so let’s read more in our latest cryptocurrency news today. The researchers at Activision discovered a new malware program that installs hidden crypto miners on the users’ PCs by posing as trainers for Call of Duty Warzone according to the company’s reports:  “In March of 2020, a threat actor posted on multiple hacking forums advertising a free, ‘newbie friendly’, and ‘effective’ method [to cheat], for spreading a remote access trojan (RAT)—malware that primarily does what it implies,…

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Copycat Trezor iPhone App Scammed Users Out Of $600K BTC

A copycat Trezor iPhone app has just scammed users out of $60,000 in BTC in the latest scam event that we read more about in our latest Bitcoin news. One user, in particular, lost 17.1 bitcoin that was worth $600,000 at the time after installing a copycat Trezor iPhone app. To bypass the Apple review process, scammers modified their apps after they have been approved. The malicious smartphone app on apple’s App store mimicked the name and the style of the Trezor hardware wallets which ended up stealing 17.1 BTC from an unsuspecting user which was worth $600,000 at the…

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Irish Police Launches Investigation Over Suspected BTC Fraud

The Irish police launched an investigation into a suspected Bitcoin fraud that targeted high-net-worth individuals as we can see more in our latest Bitcoin news today. Gardai or the Irish police, are investigating a fraudulent scheme that is disguised as a BTC investment opportunity. The victims transferred a few million Euros in BTC to wallets that were controlled by the suspects. The police invested an alleged “major fraud” where the suspects duped high-net-worth individuals into investing huge sums of BTC and took control of their wallets. The value of cryptocurrency received by illicit entities declined sharply in 2020. Image ChainalysisThe…

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Instagram Influencer Scammed Hundreds Of His Followers: Report

An Instagram influencer scammed thousands of his followers out of millions of Bitcoin while the price of the coin rises more with more investors piling up and looking for profits as we see more today in our latest Bitcoin scam news. The scammers are not always showing up behind fake accounts or cyber hackers. Some have their own profiles that thousands of followers on social media. With the developing story involving an Instagram influencer, we can see that the scammers are getting latched on BTC as well as this one scammed his followers out of thousands of dollars. As Bitcoin…

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iPhone user blames Apple for $600K Bitcoin theft via fake app

Apple removed the fake Trezor app several times, but it kept appearing on the App Store days later. A scam cryptocurrency app on Apple’s app distribution service App Store has reportedly stolen $600,000 Bitcoin (BTC) from one iOS user. Cryptocurrency holder Phillipe Christodoulou fell victim to a scam app on the App Store, losing nearly all his life savings to a fake crypto wallet application, The Washington Post reports Tuesday. Christodoulou went on the App Store last month to search for a mobile Trezor app to check his Bitcoin balance via phone. Unaware that Trezor does not currently provide an iOS…

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Fake BTC Sellers Managed To Steal Up To $500K From Victims

Fake BTC sellers managed to steal up to $500K from victims right as the price of the cryptocurrency continues to rise so let’s read more in our latest Bitcoin Scam news. The two fake BTC sellers have been accused of stealing almost $500,000 from unsuspecting victims in a scandalous BTC transaction scam in Hong Kong. According to a report by South China Morning Post, the victims 33 and 31, were deceived by two scammers in fake Bitcoin transactions. The cons posed as Bitcoin sellers and managed to steal up to $3.85 million from the victims. The victims that work at…

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UK Man Has To Pay $570 Million For Fraudulent BTC Trading Scheme

A UK man has to pay more than $570 million for running a fraudulent BTC trading scheme according to the reports by the CFTC as we read more in our latest crypto news today. The UK man solicited at least 22,190.542 BTC valued at around $143 million at the time from about 1000 customers worldwide. The US District Court for the Southern District of New York entered into a judgment against the UK man for running a fraudulent scheme where he solicited BTC from members of the public and misappropriated that gathered BTC as the Commodity Futures and Trading Commission…

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50 Cent Partner Jay Mazini Accused Of Running $2.5M BTC Scam

50 cent partner and social media influencer Jay Mazini was charged by federal prosecutors for running a $2.5 million Bitcoin fraud on Instagram as we read more in our latest Bitcoin scam news. Jay Mazini or Jebara Igbara which is his real name allegedly exploited his Instagram followers in a BTC scheme. The special agent in charge of the case Jonathan D.Larsen at the Internal Revenue Service-Criminal Investigation said:  “This defendant allegedly used his online popularity to defraud those seeking to exchange Bitcoin for cash above the market value. Always be on your guard and don’t fall prey to these…

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CFTC promises to protect ‘the burgeoning markets for digital assets such as Bitcoin’

The CFTC continues its roll of crypto announcements this week in a recent fraud bust-up. On Friday, the Commodity Futures Trading Commission made a fraudster pay back $7.4 million to investors while vowing to protect the Bitcoin market. Per the CFTC's announcement, James McDonald, Director of the commission's enforcement division, said The CFTC will continue working to protect our markets, including the burgeoning markets for digital assets such as Bitcoin, from fraudulent schemes, and will work in parallel with our criminal law enforcement colleagues where appropriate. Today's announcement concerns Jon Barry Thomson, who pleaded guilty to commodities fraud for convincing two investors…

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Crypto Escrow Company Principal Pleads Guilty To $3M Fraud

A crypto escrow company principal Jon Thomson, pleaded guilty of running a Bitcoin escrow scam worth $3 million as we are reading more in the Bitcoin scam news. The crypto escrow company principal pled guilty in Manhattan federal court to commodities fraud as back in 2018, he took over $3 million from one company failing to deliver the bitcoins worth that amount. Thomson served as the director of Volantis Escrow Platform LLC and Volantis Market Marking LLC and according to the US Department of Justice statement, he issued multiple promotional materials on behalf of both companies claiming that they minimized…

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Woman Allegedly Paid In BTC For Ex-Husband’s Murder Via Darkweb

According to US Authorities, a woman allegedly paid in BTC to have her ex-husband murdered via Dark Web, so let’s find out more about this story in our BTC news. Prosecutors alleged that a Nevada woman allegedly paid $5,000 in BTC to have a hitman kill her abusive ex-husband but the website was a scam and she was arrested. She paid the needed sum to hire a hitman to shoot her ex-husband dead according to the court documents, so the authorities arrested her and indicted her this week. The woman paid using Bitcoin on a dark web marketplace but the…

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You won’t believe the depths to which crypto scammers on Twitter are willing to sink

Twitter doesn’t seem able to move fast enough to stop thieves from grossly misusing their platform. Last Friday night, crypto YouTuber Ivan on Tech messaged me on Twitter. Shortly into our conversation, he graciously offered me an investment opportunity in “Bitcoin trading/mining”, courtesy of a platform that he alleged was associated with Binance.  A tale of two Ivans; the real one is on the left. Source: Twitter.In reality, however, I was being approached by an Ivan impersonator, peddling a crypto affinity scam. The platform "Ivan" advertised, called Cryptobinance, has no affiliation with the actual Binance exchange, a representative of the…

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BTC Ransom Gang Member “The Dark Overlord” Got Arrested

BTC Ransom gang member under the name “The Dark Overlord” got arrested and plead guilty in the US courts in connection with the ransomware group that demanded Bitcoin from victims are about to read more in the latest Bitcoin news. Nathan Wyatt, a member of the BTC Ransom gang, pleaded guilty to multiple charges in the United States earlier this week. He extracted information and wanted to use it against victims by releasing it unless they pay in bitcoin. Wyatt was sentenced to five years in prison and was ordered to pay a fine of $1.5 million. The US Department…

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Stripe Paid $120,000 To Say Away From Alleged Crypto Scam

Stripe paid $120,000 to stay away from the alleged involvement in a crypto scam as the Massachusetts Attorney General’s Office claimed the company was inadequate to detect illicit ICO-related transactions as we are reading more in the latest crypto news. The American payment processor Stripe paid $120,000 in order to resolve the allegations that its systems didn’t detect illegal transactions. The Massachusetts Attorney General’s office alleged that the company made payments which are an alleged crypto scam. The initial coin offering allegedly defrauded the customers of $8 million. Back in July, three Canadian citizens were charged with fraud in connection…

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Twitter Reinforced Security Protocols After Bitcoin Hack

Twitter reinforced the security protocols on its platform after the major Bitcoin hack. The platform will now require all political and celebrity accounts to update their security to avoid a rerun of such hacks in the future. In today’s latest Bitcoin news, we are reading more about the update of the protocols. Twitter reinforced the security protocols and unveiled the new set of measures ahead of US elections. Political accounts as well as the accounts of celebrities will be required to update their security. The move came after the major Twitter hack that happened in July, involving fraudulent BTC donations.…

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Police Brings In BitHumb Chairman For Questioning Over Fraud

Police brings in BitHumb chairman after raiding the officers of the company, for alleged involvement in fraud as we are reading more in today’s latest crypto news. The drama came after the alleged fraud involving the Bithumb senior executive. The Police brings in for questioning the company’s chairman Lee Jung-hoon. He was a chairman of the board at Bithumb Korea and BitHumb holdings according to a report by South Korea’s state-run Yonhap agency. As reported, Lee was accused of multiple frauds and embezzlement offenses regarding the listing of the BXA token. The fraud caused the investor damages of more than…

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Pakistan’s Biggest Power Provider Hacked By NetWalker

Pakistan’s biggest power provider is the latest victim of a hack attack of the NetWalker ransomware group as they requested $7.7 million paid in BTC. Let’s find out more in our bitcoin scam news today. Two major NetWalker ransomware attacks came to light over the past week. Right after Argentina’s official immigration agency suffered the hack attack demanding $4 million in BTC, now, Pakistan’s biggest power provider was attacked as the attackers demanded $7.7 million in BTC. The cybersecurity website Bleeping Computer reported that the electricity provider for Karachi, K-Electric, suffered a ransomware attack. This power supplier supplies power to…

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Who owns more Bitcoin: Winklevoss Twins, Mt. Gox or Plus Token Scammers?

And how much did Satoshi Nakamoto contribute to the 'Zombie' fund? Blockchain Center has compiled data for some of the biggest Bitcoin (BTC) hodlers — from the Winklevoss twins to various scammers and hackers, and even “zombie coins”.  Allegedly, the twins own 150,000 BTC, which places them between the Bitfinex hackers, who own 120,000 BTC, and the Mt. Gox trustees who lay claim to 166,000 BTC. One spot above the latter is occupied by another notable scam — the Plus Token scammers, who allegedly hold 200,000 BTC. Tim Draper supposedly holds a paltry 30,000 BTC, which he acquired in a government auction of…

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