US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto

The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to “transfer and launder their illicit proceeds.” The Treasury’s report…

Report: Egyptian Police Arrest 29 Alleged Masterminds of Crypto Mining App Scam

The Egyptian police are reported to have recently arrested 29 individuals associated with the Hoggpool cryptocurrency mining app scam. In addition to seizing 95 mobile phones and 3,367 SIM cards, the police said domestic and foreign currency valued at $194,000 was…

Chainalysis: Crypto Scam Revenue Dropped 46% in 2022

Revenue from cryptocurrency scams dropped 46% in 2022, according to blockchain data analytics firm Chainalysis. “We attribute most of this decline to market conditions, as scam performance tends to worsen when cryptocurrency prices are in decline,” the firm explained. ‘Crypto Scam…

New South African Code Says Crypto Asset Ads Must Include Capital Loss Warning

Crypto asset service providers in South Africa seeking to attract investors via advertisements must “expressly and clearly state that investing in crypto assets may result in the loss of capital.” Influencers working on behalf of crypto asset service providers must “not…

Metamask Wallet Users Warned to Be on the Lookout for Address Poisoning Attacks

To avoid becoming victims of an address poisoning attack, Metamask wallet users should ditch the practice of copying and pasting wallet addresses, the crypto wallet app support team has warned. Metamask users should instead “develop a habit of thoroughly checking every…

Warren Buffett’s Berkshire Hathaway Warns About Crypto Exchange Website Using Its Name

The Warren Buffett-led Berkshire Hathaway has issued a statement warning that a cryptocurrency exchange website is using its name. The company stressed that the crypto firm has no affiliation with Berkshire Hathaway Inc. or its chairman and CEO, Warren E. Buffett….

SEC Warns Crypto Investors of Scammers Exploiting Their Fear of Missing Out on Social Media

The U.S. Securities and Exchange Commission (SEC) has warned about scammers exploiting investors’ fear of missing out (FOMO) on social media. “If a crypto investment ‘opportunity’ sounds too good to be true, it probably is,” the SEC cautioned. SEC Says Scammers…

Report: Crypto Hardware Wallet Maker Ledger Seeks $100 Million Capital Raise

The French cryptocurrency hardware wallet manufacturer Ledger is seeking to raise fresh new capital after raising $380 million in June 2021, according to sources familiar with the matter. The hardware wallet company Ledger is reportedly looking to raise at least $100…

British Army’s Social Media Accounts Hacked to Promote Bitcoin Giveaways, Crypto Scams

The British Army’s official Youtube and Twitter accounts were compromised Sunday and hackers used them to promote crypto, including bitcoin and ether giveaway scams featuring Tesla CEO Elon Musk. British Army’s Social Media Accounts Used to Promote Bitcoin, Crypto, NFT Scams…

Get Real, Lagarde — The Underlying Asset ‘Guaranteeing’ Your Euro Scam Coin Is a Gun

With the approaching tsunami of central bank digital currencies (CBDCs) looming ever closer, it shouldn’t come as a surprise when central banks shill their coins at the expense of sounder assets. Recently, European Central Bank president Christine Lagarde went so far…