Fraud
Police arrests suspects linked to €600 million crypto fraud ring
European law enforcement authorities have arrested nine suspected money launderers who set up a cryptocurrency fraud network that stole over €600 million ($689 million) from victims across multiple countries. The fraudsters allegedly created fake cryptocurrency investment platforms that looked legitimate and promised high returns, and recruited victims through various means, including social media and cold […]
Police dismantles crypto fraud ring linked to €100 million in losses
Law enforcement authorities in Europe have arrested five suspects linked to a cryptocurrency investment fraud ring that stole over €100 million ($118 million) from more than 100 victims. The joint operation started in September 2020 and was carried out by investigative teams from Spain, Portugal, Bulgaria, Italy, Lithuania, and Romania, coordinated by Eurojust and supported […]
U.S. sanctions cyber scammers who stole billions from Americans
The U.S. Department of the Treasury has sanctioned several large networks of cyber scam operations in Southeast Asia, which stole over $10 billion from Americans last year. These operations, mainly those in Burma and Cambodia, are notorious for using forced labor, human trafficking, and physical violence, essentially operating as modern slavery farms that conduct online fraud. The […]
Over $300 million in cybercrime crypto seized in anti-fraud effort
More than $300 million worth of cryptocurrency linked to cybercrime and fraud schemes has been frozen due to two separate initiatives involving law enforcement and private companies. One initiative is the T3+ Global Collaborator Program launched by the T3 Financial Crime Unit (T3 FCU), a joint effort deployed almost a year ago by intelligence firm TRM […]
FTC: older adults lost record $700 million to scammers in 2024
Americans aged 60 and older lost a staggering $700 million to online scams in 2024, marking a sharp rise in fraud targeting seniors, according to the Federal Trade Commission. This figure, presented in the agency’s latest Consumer Protection Data Spotlight, represents an increase over all three categories of loss compared to previous years. Most notably, the […]
Hacker extradited to US for stealing $3.3 million from taxpayers
Nigerian national Chukwuemeka Victor Amachukwu has been extradited from France to the U.S. to face charges of hacking, fraud, and identity theft for suspected spearphishing attacks on U.S. tax preparation businesses. The attack were designed to steal personal data and file fraudulent tax and loan applications, allowing threat actors to steal over $3 million in total. […]
Police dismantles investment fraud ring stealing €10 million
The Spanish police have dismantled a large-scale investment fraud operation that caused cumulative damages exceeding $11.8 million (€10 million). During simultaneous raids in Barcelona, Madrid, Mallorca, and Alicante, coordinated by the Mossos d’Esquadra, Civil Guard, and the National Police, 21 individuals were arrested. Along with the arrests, the police agents also confiscated seven luxury vehicles […]
Europol helps disrupt $540 million crypto investment fraud ring
Spanish authorities have arrested five individuals in Madrid and the Canary Islands, suspected of laundering $540 million (€460 million) from illegal cryptocurrency investment schemes and defrauding more than 5,000 victims. The law enforcement operation was supported and coordinated by Europol and investigators from Estonia, France, and the U.S. (Homeland Security Investigations – HSI). The investigation into […]
FBI: Cybercriminals steal health data posing as fraud investigators
The Federal Bureau of Investigation (FBI) has warned Americans of cybercriminals impersonating health fraud investigators to steal their sensitive information. As the federal law enforcement agency cautioned in a Friday public service announcement, scammers posing as “legitimate health insurers and their investigative team members” are emailing or messaging potential victims to pressure them into providing […]
FBI warns of NFT airdrop scams targeting Hedera Hashgraph wallets
The FBI is warning about a new scam where cybercriminals exploit NFT airdrops on the Hedera Hashgraph network to steal crypto from cryptocurrency wallets. Airdrops are a method of distributing cryptocurrency tokens for free to wallet addresses, usually as part of a marketing, community growth, or reward campaign, but they are also used as bait […]