In a decisive move to combat a growing wave of financial scams, the Spokane City Council in Washington State has unanimously voted to ban all virtual currency kiosks, including crypto ATMs, from within city limits. This ordinance directly targets approximately 50 machines currently located in various convenience stores, gas stations, and major retail outlets such…
NEW YORK— A sophisticated cryptocurrency investment scam that preyed on Russian-speaking communities in Brooklyn and beyond has been brought to a screeching halt, thanks to a sweeping investigation by New York State and local authorities. Officials announced the seizure of over $140,000 in stolen cryptocurrency, the freezing of another $300,000 in crypto assets, and the…
HUNTSVILLE, Ala. – A wave of cryptocurrency investment scams is sweeping across Alabama, with more than a million dollars lost in just the past three weeks, according to the Alabama Securities Commission. Officials are raising alarms over a sophisticated scheme known as “pig butchering,” in which victims are manipulated into trusting fraudsters who ultimately direct…
In a landmark move against cryptocurrency-related crime, the U.S. Department of Justice (DOJ) has seized over $225 million in digital assets linked to one of the largest investment scam operations ever investigated. The crackdown, which targeted a sophisticated form of online fraud known as “pig butchering,” is being hailed as the largest crypto seizure in…
HYDERABAD— What started as a seemingly harmless part-time job opportunity promising modest daily earnings quickly spiralled into a harrowing financial nightmare for a Hyderabad woman. A resident of KPHB Colony was conned out of ₹32.8 lakh by cybercriminals posing as representatives of a travel agency and crypto investment platform operating through popular messaging apps WhatsApp…
The scam, which has been reported to TDCI, is particularly sophisticated as it employs the guise of ‘fake investment education foundations’ to attract unsuspecting investors with promises of teachings on stock and cryptocurrency investments. In addition to ‘risk-free’ trial investments with the promise of loans, they use other false claims to deceive establishments. However, instead…
