Scams

The post SHOCKING: Crypto “Pig Butchering” Scams on the Rise! What You Should Know appeared first on Coinpedia Fintech News In recent years, the sinister “pig butchering” scams have become alarmingly widespread, victimizing people worldwide both emotionally and financially. This identity theft scam, also known as the ‘fat-herder-shearer’ method, involves criminals building a financial relationship with their targets before defrauding them. Here’s a closer look. How the Scam Works Pig butchering scams typically begin when scammers contact victims through text…

Crypto gambling has become extremely popular in the last couple of years. Logically, the most popular crypto for gambling is Bitcoin. People like to use this digital currency for various reasons, one of which is certainly safety. The overall gaming industry, especially in the Philippines, is mostly regulated and safe. Yet, there is no place for relaxation. Each individual has the chance to become a victim of a scam. On this page, we will highlight the safety reasons for using…

The post Coinbase, Kraken, Others Form Coalition To Address Online Scams appeared first on Coinpedia Fintech News Prominent crypto exchanges including Coinbase and Kraken have joined hands to prevent online frauds and scams. The ‘Tech Against Scams’ coalition will serve as a convening body through which its members will collaborate and take action against the scammer’s methods. The coalition stated that this would include sharing best practices, threat intelligence, and other tips to keep users protected before they fall prey…

The post April Sets Record Low for Losses in Crypto Hacks and Scams; Will the Trend Continue? appeared first on Coinpedia Fintech News While April 2024 saw a total of 37  security breaches in the crypto industry, a whopping dollar value loss of $90.81 million was recorded. These events encompassed different exploits ranging from hacks in smart contracts and third parties to exit scams and hacker account intrusions, demonstrating the current unsafe environment in the crypto world. A web3 security…

[PRESS RELEASE – Victoria, Seychelles, April 24th, 2024] FOMO BULL CLUB, a decentralized, community-driven platform, is thrilled to announce the launch of its inaugural meme coin launchpad on the Base blockchain. This pioneering platform empowers the community to play a pivotal role in meme coin creation, launch, and protection from scams and rug pulls. With the meme coin market experiencing unprecedented growth, rising scams, and rug pulls, FOMO BULL CLUB recognized the urgent need for a reliable launchpad that prioritizes…

Despite network outages, Solana has witnessed a flurry of projects launched on top of its blockchain. Such a trend typically depicts a growing demand. But the latest report paints a different picture. These fraudsters were found to be capitalizing on users’ heightened risk appetite, fueled by FOMO amidst a market-wide resurgence. In a report shared with CryptoPotato, blockchain security company Blockaid revealed that 50% of recent pre-sale token launches on Solana have been malicious. The strategies employed by fraudsters within…

[PRESS RELEASE – Hong Kong, Hong Kong, March 29th, 2024] Cryptocurrency scams are rampant, costing victims billions. A shocking report by the Federal Trade Commission (FTC) reveals that since the beginning of 2021, over $1 billion has been lost to crypto scams, a staggering figure representing more than one out of every four dollars reported lost in scams. In this Wild West of finance, trust is hard to come by. As the famous investor Warren Buffett said, “It takes 20…

Spain will crackdown on crypto influencers to protect investors and combat crypto scams. New regulations will require big influencers to notify authorities before promoting crypto. They will also have to warn of the risks associated with crypto investing. Moreover, influencers will have to disclose to their fans that they are getting money to promote crypto. Influencers that don't follow these rules will have to pay steep fines. New rules mean that influencers will have to disclose their affiliation with crypto…

Bitcoin and Ethereum are considered the safest cryptocurrencies to invest in in the volatile market of the crypto space. However, let's face it, they're unlikely to pull off that legendary 100x growth move, given their massive market caps. This is why many investors seek "gems," new and underrated projects with massive growth potential.  Unfortunately, the current wild west of the market is much more frequently inhabited by "sh*tcoins" instead. So what is a sh*tcoin? Read more to find out. Sh*tcoin…