Tether CEO warns of new wave crypto airdrop scam emails, CoinGecko potentially affected
Cryptocurrency users should exercise extreme caution when handling crypto airdrop-related emails received in the past 24 hours, according to Tethers CEO.
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Cryptocurrency users should exercise extreme caution when handling crypto airdrop-related emails received in the past 24 hours, according to Tethers CEO.
The attack caused the unknown trader to lose over 97% of their crypto holdings.
Binances new algorithm has already helped detect over 13.4 million spoofed blockchain addresses on BNB and over 1.68 million on Ethereum.
On-chain transactions leading up to the return suggest this wasnt a white hat hacker but a malicious actor who intended to steal the funds before investigators got involved.
A look at the different techniques employed by crypto phishing scammers and how users can stay protected.
Learn how to identify crypto Ponzi schemes and avoid cryptocurrency scams. Discover red flags, common fraud tactics, and key signs of legitimate investments.
The Department of Banking highlighted that Bitcoin of America failed to obtain a license as a money transmitter to operate Bitcoin ATM kiosks in the state.
From "pig butchering" to phishing, there are myriad ways that scammers try to take advantage of crypto users.
Sherrod Brown, chairman of the U.S. Senate Banking Committee, has asked Apple and Google CEOs Tim Cook and Sundar Pichai to explain why bitcoin (BTC) scams are so prevalent on their platforms.
Brown is requesting information regarding the processes that Google and Apple employ to approve the programs that they provide in their app stores, as many have turned out to be bogus apps meant to steal cryptocurrency from users. Brown further notes that once a scam has been identified, users who downloaded it do not receive notifications of illicit activities.
There have also been several instances of Google search results including 'sponsored results' that were actually decoy phishing sites; this is something we first heard about years ago and continue to hear about every few months.
Brown cites a Federal Bureau of Investigation (FBI) report that warns about the growth of fake mobile applications. Scammers have used this method to steal $42 million worth of cryptocurrencies over the past few months. The letter, posted on the official US Senate website reads:
“According to the FBI, in one case, cybercriminals defrauded at least two dozen investors by creating a mobile app that used the name and logo of a real trading platform. Investors downloaded the app and deposited cryptocurrencies into wallets. Ultimately, the app was fake and the victims of the scam were unable to withdraw funds from their accounts.”In Apple's case, where their App Store is literally the only way to install any app to the iPad or iPhone, they defend this monopoly saying it's actually beneficial to the consumer, because they can screen and deny any potentially malicious apps.
Experts recommend always downloading crypto-related software from official websites. Take the time to read user ratings and comments when on Google Play or the App Store, especially for products with a low download volume.
The executives have until August 10 to respond, but it is unclear what consequences corporations may face if they do not comply with Senate inquiries.
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Author:
New York News Desk
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The post To catch a scammer: Kraken builds fake crypto account to ‘bait’ fraudsters appeared first on Crypto Breaking News.
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