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Ethereum co-founder Vitalik Buterin said the issues with ZKasino were evidence that the term “Zero-Knowledge (ZK)” has gained enough prominence in the industry to attract misuse by fraudulent actors.
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Institutions are keen on DeFi, and its use among them is growing, but on-chain risks are hamstringing further adoption, says Fireblocks’ Shahar Madar.
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Google has taken legal action against a group of individuals it accuses of defrauding over 100,000 people globally by distributing counterfeit crypto apps through its Google Play store, CNBC reported.
The lawsuit was filed in the Southern District of New York on April 4.
More memecoins might also mean more scams.
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Recent reports have indicated an alarming increase in scam attacks targeting Shiba Inu community members, aiming to exploit the community’s enthusiasm for fraudulent purposes.
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On Thursday, March 28, a hack occurred on Prisma Finance, a decentralized lending protocol on the Ethereum network. The exploiter carted away about 3,257.7 ETH (equivalent to $11.6 million) via a flash loan attack on the protocol.
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The FBI’s Internet Crime Complaint Center (IC3) has released its 2023 report, revealing a significant rise in crypto-related fraud and the use of digital assets in cybercrime.
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Crypto industry losses amounted to $67 million in February over 12 incidents, with hacks accounting for 97.54% of funds stolen, according to Immunefi’s latest crypto losses report.
Meanwhile, the remaining 2.46% of the funds stolen were lost due to fraud.
A sophisticated social engineering campaign successfully duped several prominent crypto news outlets into promoting a fabricated $10 million Uniswap airdrop on Feb. 16.
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Hong Kong’s Securities and Futures Commission (SFC) and local law enforcement have jointly issued a public warning against an entity masquerading as crypto exchange MEXC Global.
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Coin Center’s Director of Research, Peter Van Valkenburgh, has issued a stark warning regarding the escalating threat posed by artificial intelligence (AI) in fabricating identities.
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In January 2024 alone, cryptocurrency projects lost $127 million due to hacking and fraud – six times more than in January 2023 and three times more than last December. In the meantime, losses in the crypto industry from breaches in 2023 decreased by more than half compared to 2022.
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In a recent consumer alert, the Commodity Futures Trading Commission (CFTC) warned about the proliferation of scams leveraging artificial intelligence (AI) to lure unsuspecting individuals into fraudulent crypto investment schemes.
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