Cryptocurrency Scams

Faruk Fatih Özer, the 31-year-old founder of the collapsed Turkish crypto exchange Thodex, has been found dead in his prison cell in the western Turkish city of Tekirdağ. Authorities have launched an investigation, with early findings pointing to suicide, though other possibilities have not been ruled out.

In one of the largest crypto-related enforcement actions in Southeast Asia, Singapore has frozen more than S$150 million in assets tied to Chinese-born tycoon Chen Zhi, the chairman of Cambodia’s Prince Holding Group, after allegations he masterminded a $14.4 billion Bitcoin laundering empire spanning continents.

Thai authorities have arrested Liang Ai-Bing, a Chinese national believed to be the mastermind behind the $31 million FINTOCH exit scam, following a coordinated intelligence operation between Thai and Chinese law enforcement.

Binance is giving traders a sharper lens into blockchain behavior. The crypto exchange has integrated Bubblemaps’ blockchain analytics tools into its Web3 Wallet, allowing millions of users to visualize token distribution, wallet clusters, and insider trading patterns directly from their interface.

Binance founder Changpeng “CZ” Zhao has warned crypto investors not to buy the new CZ-themed memecoin launced to capitalised on his popularity, adding that celebrity-linked memecoins like this has not real utility.

As phishing scams drain over $400 million in crypto this year alone, a powerful new alliance led by the Security Alliance (SEAL) is rising to fight back.

Celebrity hairstylist Jawed Habib, his son, and an associate are accused of defrauding over 150 investors of Rs 5–7 crore through a fake crypto scheme. Police say they used his fame to gain trust and have issued lookout notices as investigations continue.

The UK plans to return $7 billion in Bitcoin to Chinese investors after a major fraud case, with the criminals pleading guilty to money laundering. Authorities face challenges tracing claims and distributing the funds due to cross-border complexities and China’s crypto ban.

Nguyen Hoa Binh, famously known as Shark Binh from Shark Tank Vietnam, was arrested by the Hanoi police for his role in the collapsed AntEx cryptocurrency project. Once hailed as a visionary investor and a household name in Vietnam’s startup ecosystem, Binh now faces intense scrutiny and legal jeopardy following mounting investor complaints.

FC Barcelona’s official Instagram account was hacked to promote a fake $FCB token on the Solana blockchain, misleading fans and causing potential financial losses. The token briefly surged to $3 million in value before crashing, highlighting risks of scams using popular brands and unverified cryptocurrencies.