https://www.coindesk.com/policy/2023/03/06/crypto-scam-in-egypt-defrauds-thousands-of-investors-of-620k-report/
A online cryptocurrency scam in Egypt defrauded thousands of investors of around $620,000, Al Jazeera reported on Monday, citing state media.
Authorities have arrested 29 people, including 13 foreign citizens, in connection with the fraudulent platform known as "HoggPool."
The scheme first appeared in Egypt in August, promising investors large profits from crypto mining and trading.
Crypt trading in 2018 was declared forbidden in Egypt under Islamic law. While that religious decree was not legally binding, a de facto ban has been in place thanks to prohibitive banking laws introduced in 2020.
However, crypto interest remains high in the country, which has been experiencing severe economic woes in recent years, with the Egyptian pound having depreciated nearly 50% against the dollar since March 2022.
Shiba Inu community warned of fraudulent airdrop bot scams by Shibarmy Scam Alerts. Caution urged against fake schemes promising free tokens. Reminder: No official SHIB airdrops or group bots exist. Vigilance and skepticism advised; verify legitimacy before sharing personal information or transferring assets.
EdmundSouth Korean crypto exchanges successfully stopped cybercriminals from stealing over $82 million through romance scams. Their secret weapon: abnormal transaction detection systems that actively spot and block fraudulent activities, providing a robust defence against online scams.
JoyScam Sniffer has recently reported a concerning surge in cryptocurrency theft in 2023. This surge can be attributed to the rising complexity of phishing scams.
ZoeyNetflix has recently revealed its latest cinematic offering, "Bitconned," a riveting exposé on a cybercrime saga entwined with cryptocurrency scams. The film delves into the intricacies of a dark digital underworld, emphasising the need for vigilance and awareness in the face of evolving threats.
JoyTether collaborates with OKX and DOJ to investigate the largest ever freeze of USDT. It is related to an international human trafficking group in Southeast Asia.
OliveExplore the exciting world of NFTs while arming yourself against prevalent scams. As the popularity of non-fungible tokens (NFTs) skyrockets, so does the risk of falling victim to scams. This article sheds light on five of the most common NFT scams and provides practical tips on safeguarding your investments. From fake NFT marketplaces to phishing attacks and rug pulls, learn how to distinguish between legitimate opportunities and potential pitfalls in the NFT space. Arm yourself with knowledge to make informed decisions and protect your assets in this evolving digital landscape.
Cheng YuanThroughout June, four projects encountered security breaches, scams, and rug pulls. These incidents occurred in the final week of the month, affecting Shido, Ichioka Ventures, an unnamed company claiming to identify dogs by their nose wrinkles, Chibi Finance, and Biswap.
Coinlive The scheme swindled at least 29 investors out of more than $1.3 million, according to the CFTC.
CoindeskThis represents a record number of victims who fell for such scams
dailyhodl
Catherine