Investment
Police seizes over 100 servers in investment scam crackdown
European law enforcement authorities arrested seven suspects and seized more than 100 servers in a joint action targeting an unnamed company suspected of providing fraudulent trading websites to criminal gangs. Supported by Europol and Eurojust, this coordinated international action involved authorities from Albania, Cyprus, Finland, Germany, Kosovo, and North Macedonia and followed four years of […]
Chinese man extradited for role in $36 million cryptocurrency scam
A Chinese national was arraigned in California after being extradited from the Netherlands for his alleged involvement in a cryptocurrency investment scam that stole nearly $37 million from 174 victims in the United States. In these fraud schemes (also known as pig butchering or romance baiting scams), cybercriminals contact targets through social media, dating sites, […]
Hacker gets 8 years for stealing $3.3 million from taxpayers
A Nigerian national was sentenced to eight years in prison for his involvement in a series of spearphishing attacks targeting US tax preparation businesses since 2019. 40-year-old Chukwuemeka Victor Amachukwu (also known as Chukwuemeka Victor Eletuo and So Kwan Leung) has pleaded guilty to conspiracy to commit computer intrusions and wire fraud after being extradited […]
Malicious sites use JavaScript to build malware in browser memory
A massive malvertising campaign is using fake Solana, Luno, and TradingView webpages with malicious JavaScript that instructs browsers to assemble malware directly in memory. The operation has been active since late 2024 and is localized to 25 languages in 12 countries, primarily in Asia Pacific and Latin America. A filtering system ensures that only real […]
US charges two over laundering $43 million from investment fraud
U.S. prosecutors on Thursday charged a New York man and woman for their roles in a large-scale crime ring that laundered money stolen in cyber investment fraud scams. 27-year-old Zhuoying Chen and 38-year-old Haojie Zhang allegedly managed a network of over a dozen people based in Queens and Brooklyn between 2020 and 2022. Chen and […]
Dutch police bust investment fraud ring stealing over €100 million
The Dutch Police announced the arrest of multiple individuals suspected of being part of an international investment fraud scheme estimated to have tens of thousands of victims. The group is believed to have operated 20 call centers, with more than 700 people posing as financial advisers. Authorities estimate that the criminal organization at one point […]
Police dismantles 9 crypto scam centers, arrests 276 suspects
A joint international operation involving U.S. and Chinese authorities arrested at least 276 suspects and shut down nine cryptocurrency investment fraud centers. The crackdown was led by Dubai Police under the UAE Ministry of Interior and targeted crime networks running so-called pig-butchering schemes (also known as romance baiting), a form of fraud in which scammers […]
European police dismantles €50 million crypto investment fraud ring
Austrian and Albanian authorities dismantled a criminal ring accused of running a large-scale cryptocurrency investment fraud operation that caused estimated losses of over €50 million ($58.5 million) to victims worldwide. The joint action, which started in June 2023 and was supported by Europol and Eurojust, led to the arrest of 10 suspects and searches of […]
Fugitive behind $73M ‘pig butchering’ scheme gets 20 years in prison
A dual Chinese and St. Kitts and Nevis national was sentenced to 20 years in prison in absentia for his role in an international cryptocurrency investment scheme (also known as pig butchering or romance baiting) that defrauded victims of more than $73 million. In pig butchering scams, criminals use messaging apps, dating platforms, and social media accounts […]
US announces new strike force targeting Chinese crypto scammers
U.S. federal authorities have established a new task force to disrupt Chinese cryptocurrency scam networks that defraud Americans of nearly $10 billion annually. The Scam Center Strike Force team, supported by agents from the U.S. Attorney’s Office, the Department of Justice, the FBI, and the Secret Service, investigates and prosecutes criminal groups operating large-scale cryptocurrency investment […]