Cryptocurrency Scams

A married couple from Tennessee, Michael and Amanda Griffis, have been ordered to pay nearly $7 million in penalties after orchestrating a fraudulent crypto-based commodity pool scheme, the Commodity Futures Trading Commission (CFTC) announced on Thursday.

Singapore Police have introduced an AI chatbot, R-COP, to help the public file reports more accurately and reduce follow-up calls. The system guides users through questions, creates a draft report in formal language, and will be available at kiosks across seven police divisions.

A new phishing campaign is striking at the heart of the crypto. X, which has long been considered the digital town square where developers, traders, and investors exchange ideas and shape narratives, the platform is now under siege.

Authorities across Europe have shut down a €100 million crypto scam, arresting five people in multiple countries. The fraud tricked investors through fake crypto platforms, taking their money and disappearing with it.

MrBeast has offered a $100,000 reward to help catch scammers who tricked Erik Bergman out of $1.25 million. The fraud used fake messages and high-profile names to make Bergman transfer money to bogus crypto wallets.

Hong Kong has set up a new task force to tackle the rise in crypto and virtual asset scams. Authorities have already made over 70 arrests and are pushing for stronger rules to help platforms stop suspicious transactions quickly.

South Korean police broke up a fraud ring in Pattaya, Thailand, accused of stealing about $15 million from nearly 900 victims. Twenty-five suspects were arrested, while the alleged ringleader and others remain in Thai custody as extradition continues.

A game on Steam called Block Blasters secretly contained malware that stole over \$150,000 in cryptocurrency from players. The attack hit hundreds of users, including a streamer raising funds for cancer treatment, and raised concerns about Steam’s platform security.

Social media platform X revealed on Friday that it dismantled an elaborate bribery operation allegedly driven by users tied to crypto-related scams.

Ramil Ventura Palafox, the 60-year-old CEO of Praetorian Group International (PGI), has pleaded guilty to wire fraud and money laundering after orchestrating a $201 million Bitcoin Ponzi scheme that duped more than 90,000 investors worldwide.