Security Analysis of Ponzi Schemes in Ethereum Smart Contracts

The rapid advancement of blockchain technology has precipitated the widespread adoption of Ethereum and smart contracts across a variety of sectors. However, this has also given rise to numerous fraudulent activities, with many speculators embedding Ponzi schemes within smart contracts, resulting...

London Court Convicts Chinese Mastermind Behind £5bn Crypto Seizure

Zhimin Qian, the 'Bitcoin Queen,' pleads guilty in the UK after police seized over £5 billion in stolen crypto, the world's largest crypto seizure. Details on the Ponzi scam and fight for the funds...

Understanding and Characterizing Obfuscated Funds Transfers in Ethereum Smart Contracts

Scam contracts on Ethereum have rapidly evolved alongside the rise of DeFi and NFT ecosystems, utilizing increasingly complex code obfuscation techniques to avoid early detection. This paper systematically investigates how obfuscation amplifies the financial risks of fraudulent contracts and...

HashFlare Fraud: Two Estonians Admit to Running $577M Crypto Scam

Two Estonian nationals plead guilty to a $577M cryptocurrency Ponzi scheme through HashFlare, defrauding hundreds of thousands globally.…...

Biggest Crypto Scam Tactics in 2024 and How to Avoid Them

Stay alert to crypto scams with our guide to 2024's top threats, including phishing, malware, Ponzi schemes, and…...

INTERPOL Busts African Cybercrime: 1,006 Arrests, 134,089 Malicious Networks Dismantled

An INTERPOL-led operation has led to the arrest of 1,006 suspects across 19 African countries and the takedown of 134,089 malicious infrastructures and networks as part of a coordinated effort to disrupt cybercrime in the continent. Dubbed Serengeti , the law enforcement exercise took place betwe...

Bitcoin Forensic Analysis Uncovers Money Laundering Clusters and Criminal Proceeds

A forensic analysis of a graph dataset containing transactions on the Bitcoin blockchain has revealed clusters associated with illicit activity and money laundering, including detecting criminal proceeds sent to a crypto exchange and previously unknown wallets belonging to a Russian darknet marke...

Cannabis investment scam JuicyFields ends in 9 arrests

Europol and its associates have arrested 9 people in conjunction with a cannabis investment scam known as "JuicyFields". The suspects used social media to lure investors to their website. There they found information about a “golden opportunity” to invest in the cultivation, harvesting and...

Investment scams are on the rise

Preying on one of the most basic human flaws, investment scams and other get-rich-quick schemes are making up an ever larger portion of the online scammers cake. The number of victims, for now, is lower than the number of victims of fraudulent sales, identity fraud, and dating fraud, but the cost...

Magnitude EK actor goes for Bitcoin multiplier scam (updated)

It is well known that hot commodities tend to attract scammers and online criminals. The continuous rise of Bitcoin over the past year valued at over USD $7,188 at the time of writing is generating frenzy amongst fans of cryptocurrencies as well as those watching from the sidelines. While the...

This Week in Security News

Welcome to our weekly roundup, where we share what you need to know about the cybersecurity news and events that happened over the past few days. Below you’ll find a quick recap of topics followed by links to news articles and/or our blog posts providing additional insight. Be sure to check back...

Creator of Bitcoin Mining Schemes faces $12 Million for Ponzi Scam

Every time a new topic trends on the Internet, scammers take advantage of it. You must have heard of Bitcoin and how in recent days it has made some early investors millionaire overnight. Yes, the Bitcoin boom is back, and it's real — a digital currency that has just crossed a new milestone today...