Chainalysis: 64% of Ransomware Attackers Launder Proceeds via Crypto Exchanges

United States-based blockchain intelligence firm Chainalysis claims that 64% of ransomware attack cash-out strategies involve the laundering of funds via cryptocurrency exchanges. The data was revealed in a Chainalysis webinar attended by Cointelegraph on May 30.A ransomware attack involves the infection of a target with malware and the demand of a ransom payment — frequently…

UpBit Exchange Phishing Email Scam Came From North Korea, Source Claims

Hackers from North Korea were behind a phishing scam targeting users of South Korean cryptocurrency exchange UpBit, Korean-language cryptocurrency news outlet CoinDesk Korea reported on May 29.According to findings by local cybersecurity firm East Security, the scam came in the form of an email sent to UpBit users requesting account information.The pretence was a fake…

Goxtrade Advertises Unaffiliated Staff and Misleading Contact Information

Purported bitcoin (BTC) exchange Goxtrade has been accused of being a scam, technology news publication TechCrunch reported on May 17.Chief among the report’s revelations is that Goxtrade takes photos of unaffiliated people from social media sites and compiles them to make its online staff gallery. Goxtrade reportedly even retains some of their real names.Amber Baldet,…

India: Police Arrest Four More Suspects in Alleged $14 Million Crypto Scam

Law enforcement in Mumbai, India have arrested four more suspects allegedly involved in a cryptocurrency scam that amassed an estimated 1 billion rupees (over $14 million). English-language daily media outlet The Times of India reported on the arrests on March 22.Per the report, the police arrested Ashok Goyal Jaipuria, Asif Malpani, Baljit Singh Saini and Pradeep Arora…

Fake MetaMask Crypto Malware Pulled From Google Play After Tip-Off

Decentralized app (DApp) MetaMask is facing fresh problems from cryptocurrency scammers after malware impersonating the tool appeared on Google Play, cybersecurity company Eset reported Feb. 8.The malware, which replaces computer clipboard information in an attempt to steal cryptocurrency, was removed by Google at the beginning of the month after a tip-off from Eset researchers.Known as…

South Korea: Four ‘Young’ Hackers Booked in Cryptojacking Case Targeting Over 6,000 PCs

Four “young” hackers have been arrested in a cryptojacking case involving over 6,000 computers in what is allegedly South Korea’s “first” known case of its kind, Korean English-language news outlet Aju Daily reports Nov. 8.Cryptojacking is the practice of using a computer’s processing power to mine for cryptocurrencies without the owner’s consent or knowledge.Aju Daily…

Three Thai Siblings Accused of $24 Million Bitcoin Scam Plead ‘Not Guilty’

Three Thai citizens who are currently being prosecuted for allegedly swindling $24 million worth of Bitcoin (BTC) have pleaded “not guilty” in the Criminal Court of Bangkok, major Thai newspaper Bangkok Post reports Wednesday, Nov. 7.During the hearings, Thai prosecutors accused the three defendants and six accomplices of defrauding 21-year-old Finnish investor Aamai Otava Saarimaa…

New Zealand’s Financial Authority Blacklists Three Local Crypto Platforms

The Financial Markets Authority (FMA) of New Zealand has added three new crypto-related websites to its list of online scams, an announcement by the FMA reveals Thursday, Nov. 1.On Nov. 1, the FMA listed three companies — Crypto Gain, Russ Horn, and Zend Trade — on its “scam” list, where citizens are warned about the…

FTC Issues Warning on Bitcoin Blackmail Scams

The U.S. Federal Trade Commission (FTC) is warning consumers warns about a new type of bitcoin scam aimed at blackmailing men. Scammers are sending letters threatening to expose an alleged secret to men, and asking for a “confidentiality fee” paid through bitcoin, wrote Cristina Miranda, a member of the FTC’s Division of Consumer and Business…