Tag:

scam

Zachxbt Uncovers Whiterock Finance Links To $30M Zkasino Exit Scam
GameFi Guides

ZachXBT Uncovers WhiteRock Finance Links to $30M Zkasino Exit Scam

by admin



Crypto investigator ZachXBT has put out a community warning, showing shocking connections between the $30M Zkasino exit scam and a more recent project, WhiteRock Finance (WHITE).

ZachXBT’s investigation on Zkasino Exit Scam, Source: X

Zkasino is a crypto project related to gambling that took more than $33 million in investments during a presale. However, instead of providing what they guaranteed on its roadmap, the Zkasino team is said to have utilized the funds for themselves.

In April 2024, Elham Nourzai, also known as Derivatives_Ape, was arrested by Dutch authorities (FIOD). Some of the stolen funds from the Zkasino scam were also seized during the arrest. Later in 2024, after Elham was released, the stolen money began moving again. The funds were laundered through multiple blockchains, like zkSync, Starknet, Solana, and EVM-based networks. 

The money laundering methods involved cashing out via OTC brokers, exchanging into the privacy coin Monero (XMR) instantaneously through exchanges, and trading perpetual contracts using platforms such as Hyperliquid.

At same time, there was a new cryptocurrency project named WhiteRock Finance, which popped up and raised alarm immediately. The group that created it remained anonymous and did not have any known background in the cryptocurrency community. They were also accused of making fake partnerships to appear more legitimate.

Many of their wallets were funded using quick exchanges. Furthermore, they made great claims of having a large user base and support through USDX, but provided little data or transparency to back this up.

ZachXBT followed marketing wallet transactions from WhiteRock that mixed with Zkasino’s stolen funds. One influencer even verified being directly paid by a wallet belonging to both projects. These revelations indicate that at least one Zkasino insider can now be implicated in WhiteRock. Zach calls for the crypto community to be on high alert and not engage with the project.

Also Read: ZachXBT Calls on BitoPro to Explain $11.5M Hot Wallet Breach



Source link

0 comments
0 FacebookTwitterPinterestEmail
Crypto
Crypto Trends

Aussie Adviser Banned 10 Years Over $9.6 Million Scam

by admin


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Australia’s financial watchdog has slapped a decade-long ban on a Sydney-based adviser after she sent client funds into a crypto operation flagged as risky. The Australian Securities and Investments Commission (ASIC) says Glenda Maree Rogan moved A$14.8 million ($9.6 million) into a platform already marked as unlicensed. Clients, family and friends reportedly lost out when their money vanished into what ASIC calls a likely scam.

Adviser Accused Of Misleading Clients

According to ASIC, Rogan pitched a “high-yield fixed-interest account” between May 2014 and February 2024. She worked as an accountant and financial adviser at Fincare firms in Sutherland and Wollongong. But rather than place the funds in secure accounts, multiple transfers went into her personal and company bank records. Many of those funds then converted to crypto and sent on to Financial Centre, a platform ASIC warns “should not be trusted.”

Image: Entrust

Funds Routed Through Personal Accounts

Based on reports, Rogan moved money from March 2022 through June 2023. During that 16-month stretch, she sent A$14.8 million into personal and corporate accounts before pushing most of it into crypto. Investigators say she must have doubted the platform’s legitimacy by October 2022, yet went ahead anyway. Family members and close friends who invested under her advice are now caught up in an ongoing probe.

Total crypto market cap currently at $3.22 trillion. Chart: TradingView

10-Year Ban Imposed

ASIC announced the 10-year prohibition took effect on June 6, 2025. Under the ban, Rogan cannot provide or control any financial services business. The regulator said she is “not a fit and proper person” and likely to break financial services laws if allowed to continue. Her license expired on February 8, 2024, and she has been unlicensed since then. Rogan can appeal through the Administrative Review Tribunal, but for now her name sits on ASIC’s banned and disqualified register.

Broader Crypto Crackdown

This move comes amid a wider push against shady crypto operations in Australia. On June 3, AUSTRAC rolled out new rules and set transaction caps for crypto ATMs to stem scams. In April, inactive crypto exchanges were told to de-register or face cancellation. And in February, AUSTRAC took action against 13 remittance firms and exchanges, with more than 50 under review for potential breaches. Regulators are making clear that unlicensed services will face rapid enforcement.

Investors are being urged to check ASIC’s register before handing over cash. High promised returns, especially in crypto, should raise red flags. Anyone hitting a supposed “guarantee” might be staring at an unregulated scheme. While ASIC continues its inquiry into Rogan, this case underlines just how careful people must be when a trusted adviser steers them toward something that sounds too good to be true.

Featured image from FinanceAsia, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



Source link

0 comments
0 FacebookTwitterPinterestEmail
WazirX restructuring rejected by Court as community cries ‘scam’
NFT Gaming

WazirX restructuring rejected by Court as community cries ‘scam’

by admin



The embattled crypto exchange WazirX has hit another bump in the road, with a recent decision from Singapore’s High Court dealing a blow to its ongoing recovery efforts. 

According to the latest announcement from Indian crypto exchange WazirX, the Singapore High Court has issued an order declining its proposed restructuring plan. The court’s decision marks a major setback for the exchange, which has struggled to regain its footing since suffering a devastating $230 million hack in July 2024. 

“The Honourable Singapore High Court issued an order declining to approve our proposed restructuring plan,” wrote the exchange, expressing its disappointment with the verdict.

Despite the ruling, WazirX assured creditors that it remains committed to facilitating distributions and is exploring additional legal options, including an appeal to the Court. The exchange added that assets remain safe, assuring its lengthy list of creditors that a resolution is in the works.

However, the assurances did little to quell creditors’ outrage as many flooded social media with accusations.

Community claps back with fresh WazirX ‘scam’ accusations

Several creditors have expressed frustration with WazirX’s latest update, pointing to the months-long delay since the originally promised distribution timeline of February 2025. Many argue that the exchange is using legal issues as an excuse to avoid paying back users. “This isn’t delay. It’s a scam wrapped in court drama,” said one frustrated Netti Mittal, echoing broader community sentiment. 

Others added that the restructuring bid was likely denied because the judge suspected questionable behavior from WazirX and its executives, including a lack of transparency and possible deceit.

If wazirx didn’t hide info from Singapore court, scheme would have been approved but they silently had a plan to fool Singapore court and got caught.

That’s why it was rejected if you want to blame someone then blame wazirx team.

— Aditya Singh (@CryptooAdy) June 4, 2025

Adding fuel to the fire is the exchange’s latest decision to move from Singapore to Panama under a new name, ‘Zensui,’ highlighted in recently shared legal documents. “Zettai has taken steps to incorporate a subsidiary, Zensui Corporation […] in the Republic of Panama, and has been preparing for the transfer of the operations of the Platform’s cryptocurrency-related services to Zensui,“ the documents read.

Several users have interpreted the move as a deliberate escape strategy, accusing WazirX of using it as a fraudulent tactic to avoid repaying creditors the funds allegedly ‘stolen.’ Many are now calling on Indian authorities to take legal action, including demands for the arrest of the exchange’s CEO Nischal Shetty.

Once a SCAMMER, always a SCAMMER 🤷🏻
This is how they fool 🇮🇳 Indian crypto users !!
From Zettai to Zensui
From Singapore 🇸🇬 to Panama 🇵🇦
Singapore banned unlicensed #Crypto companies. So #WazirX ran away 🫠
New name, new country, same drama, same scammer ! Arrest Nischal Shetty pic.twitter.com/C5C376OVrt

— Abhi (@Abhi_Tenet) June 5, 2025





Source link

0 comments
0 FacebookTwitterPinterestEmail
crypto
GameFi Guides

Australia Cracks Down Amid Scam Surge

by admin


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Australia’s financial watchdog and federal police are warning that scams using crypto ATMs are draining wallets across the country.

Between January 2024 and January 2025, 150 people filed unique reports with ReportCyber about crypto ATM scams, and those losses topped A$3.1 million (about US$2 million). Many older Australians are being targeted, and regulators are scrambling to put safer rules in place.

Operators Face New Transaction Caps

According to the Australian Transaction Reports and Analysis Centre (AUSTRAC), a new rule now limits cash deposits and withdrawals at crypto ATMs to A$5,000 (around US$3,250). Operators must also put up clear scam warning signs, keep a closer eye on every transaction, and step up checks on customers.

Image: AML Intelligence

These measures began on June 3. Right now, they only apply to ATM providers, but AUSTRAC says crypto exchanges should think about doing the same if they let people use cash to buy crypto.

AUSTRAC CEO Brendan Thomas mentioned that these conditions will be watched closely and could change if they aren’t working as planned.

Seniors At Higher Risk

Based on reports from AUSTRAC’s task force, most people who use cash to buy crypto at ATMs are over 50, and about 72% of all transaction value comes from this older age group.

It’s a big worry because many in their 60s and 70s end up as victims of scams. Scammers often tell them to send money to a crypto ATM to “prove” an investment or to recover stolen funds.

Many victims don’t even realize they’ve been scammed until it’s too late. That’s partly why AUSTRAC wants stronger “know your customer” checks right at the kiosk.

Total crypto market cap currently at $3.27 trillion. Chart: TradingView

Public Reporting Remains Low

AFP Commander Graeme Marshall says that a lot of people who lose money don’t report it. Sometimes they feel too embarrassed. Other times, they just don’t know how to get help. Marshall encouraged anyone who has been scammed to tell their family and friends about it.

People need to share what happened so others won’t fall into the same trap. Right now, with 150 reports logged over 12 months, the Australian Federal Police (AFP) thinks those numbers are just scratching the surface. They believe many more scams are happening without being recorded.

Image: MakeUseOf

Rising Number Of ATMs

Australia used to have very few crypto ATMs—just 67 in August 2022. But by June 2025, that number had exploded to nearly 1,820. That makes Australia the third-largest market for these machines in the world.

In a single year, almost 150,000 cash-based transactions went through, moving roughly A$275 million (about US$178 million) into Bitcoin, Ether, and various stablecoins. Private firms like Localcoin (753 machines), Coinflip (700), and Bitcoin Depot (182) lead the pack.

With more ATMs popping up, there’s more chance for scammers to trick people, especially if operators aren’t watching closely.

Featured image from Gemini, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



Source link

0 comments
0 FacebookTwitterPinterestEmail
The $40 billion scam economy and the architecture of trust
Crypto Trends

The $40 billion scam economy and the architecture of trust

by admin



Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

Southeast Asia’s digital economy is booming—but so is its illicit underground. Findings from a recent UN report estimate that scam networks across East and Southeast Asia now generate nearly $40 billion annually. These criminal syndicates exploit weak infrastructure, regulatory fragmentation, and gaps in digital verification, scaling faster than law enforcement can keep up.

However, the challenge isn’t just economic loss; it’s about the erosion of trust in digital systems. As digital replicas become indistinguishable from reality and AI-generated content further blurs the line between authentic and artificial, existing systems are ill-equipped to anchor verification in increasingly fluid digital spaces. No longer just confined to a region, this crisis now transcends Southeast Asia and into Africa, Latin America, and beyond, exploiting an inherent fragility of incumbent infrastructure built on passwords, static identifiers, and centralized verification.

The rapid adoption of digital technologies has outpaced the development of secure and verifiable systems, leading to an environment where trust is continuously eroded. To counter this, future-proofing the architecture of digital trust is more critical than ever to rebuild legitimacy and reclaim confidence in the digital space.

The dissolving boundaries of digital trust

As our existence increasingly straddles physical and digital realms, more than 70% of consumers in Asia-Pacific are now concerned about privacy and data sharing. The rise of cybercrime targeting vulnerable populations has created a new form of disenfranchisement:  those without secure identity systems become prey in the digital realm that privileges the technologically sophisticated.

Malaysia alone lost a staggering $12.8 billion to scams in 2024, equivalent to 3% of the nation’s GDP. These losses demonstrate that secure digital identity verification isn’t just a convenience; it has become an essential economic infrastructure that protects citizens from exploitation. Yet as digital adoption rises, public trust continues to decline, eroding system legitimacy and putting long-term adoption at risk.

The lack of a coordinated, verifiable “trust layer” across economies is more than just a technical shortcoming, and it’s become a systemic vulnerability. Governments and institutions must prioritize building interoperable systems that can ensure identity authenticity and transactional integrity. Without a robust digital trust framework, progress in the digital economy will remain vulnerable to exploitation.

The sovereignty paradox in borderless spaces

While the internet was conceived as a borderless commons, the proliferation of digital crime forces us to reconsider the role of sovereign boundaries in cyberspace. National digital infrastructure initiatives like the Malaysia MyDigital ID SuperApp, powered by Zetrix, a public permissioned layer-1 blockchain, provide a compelling middle path: one that respects sovereign authority while establishing protocols for cross-border verification.

The collaboration between Malaysia’s blockchain infrastructure and China’s Xinghuo BIF through Zetrix demonstrates how nations can maintain digital sovereignty while creating interoperable systems that facilitate cross-border communication. Malaysia’s leadership in launching the Malaysia Blockchain Infrastructure (MBI), a state-backed initiative that supports interoperability across Ethereum (ETH) and enterprise systems, exemplifies a new paradigm where digital infrastructure not only protects national interests but also fosters regional connectivity.

This model of sovereign interoperability provides a template for addressing borderless crime while respecting national digital autonomy. Moreover, this approach elevates blockchain from a financial tool to a core component of sovereign digital infrastructure, aligning it with long-term national strategies to secure economic and social stability.

Rebuilding digital legitimacy: Prioritizing interoperability beyond decentralization

The Malaysia Blockchain Infrastructure represents a hybrid model merging democratic access with sovereign assurance. This third path demonstrates how sovereign backing can provide an essential trust layer, while blockchain technology delivers the verification systems needed to support it.

It acknowledges that while purely private blockchain solutions lack sufficient authority for mass adoption, completely centralized systems sacrifice the transparency and resilience that make blockchain valuable. As Malaysia assumes the ASEAN Chairmanship in 2025, it has a unique opportunity to elevate digital trust as a regional priority. Through discussions and forums, Malaysia can position blockchain not as hype, but as a foundational layer for ASEAN’s digital economy ambitions.

Establishing sovereign blockchain as common ground

The digital future of Southeast Asia hinges not on how fast the region innovates, but on whether it can build systems that people trust. Fragmented infrastructure, regulatory gaps, and rising cybercrime require a nimble solution that coalesces piecemeal innovation into coordinated, sovereign-backed digital infrastructure.

Blockchain, when deployed at a national level with public interest in mind, offers a pathway to rebuild legitimacy in the digital age. It moves beyond financial speculation and into the realm of essential public infrastructure, which becomes a tool for economic resilience, societal stability, and digital trust.

Dato’ Fadzli Shah

Dato’ Fadzli Shah is the co-founder of Zetrix and a passionate advocate for blockchain with extensive experience in tech, startup, venture capital, and national development sectors. His remarkable career includes key roles such as Chief Strategy Officer for the Malaysia Digital Economy (MDEC) and early investor in South East Asia’s most prominent fintech and crypto startups. He has graduated from three prestigious universities, namely the University College of London, London Business School, and Harvard University.



Source link

0 comments
0 FacebookTwitterPinterestEmail
email scam 1
Crypto Trends

Someone Tried to Scam Me (Probably)

by admin



Coinbase won’t call customers to warn them that their accounts may have been compromised. It’s a common scam vector. Still, someone tried it on me.

You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.

The narrative

Last weekend, an unknown California number called me. A helpful gentleman informed me that my Coinbase account had been compromised during its recent data breach and he was there to assist me in not losing my assets.

Oh no, the horror!

Why it matters

All right, so obviously this is a scam. Right after hanging up with this supposed help desk agent, I texted a Coinbase spokesperson to verify that at no point would the exchange call a customer to tell them their account was compromised. It’s scam 101 — if you’re getting a phone call informing you that your account’s been compromised, whether at a crypto exchange, a bank, the IRS, whatever, it’s a scam. Do not share your personal details and do not provide any passwords if you get a call like this.

There were a few flaws in the attempt to get me to, presumably, move my funds from my supposedly compromised Coinbase account to another address. But I’m hopeful that this can be a useful teaching moment for the nearly 70,000 people who have been affected by Coinbase’s recent breach disclosure, as well as anyone else who receives a phone call claiming their information has been compromised. Here’s how this went down.

Breaking it down

Let’s start from the beginning. On Saturday, May 24, I received a call from a number I didn’t recognize to my personal phone, not my public-facing work number. It being a weekend, one where I was actually visiting family in another state, I didn’t pick up. Then the same number called back and I still didn’t pick up (yes I know, riveting, but it’s 2025 and you can leave a voicemail or text).

Ten minutes later, I received a third call from a different number, which I did pick up because at that point I was curious.

A fast-talking gentleman who called himself Riccardo told me he was part of Coinbase’s Actions and Protections Department and that he was reaching out because my Coinbase account information had been compromised and a new email had just been added to my account.

I was pretty confused, for reasons I’ll get into below. But I was also intrigued because there were immediately four red flags. For simplicity’s sake, I’ll refer to the caller as “the agent” from here on out, but to be absolutely clear, I doubt he is an actual customer service agent, representative or other employee of Coinbase, and he certainly was not reaching out to me as an authorized representative of the exchange.

First off, the phone call itself is a big red flag. Coinbase will never call a customer about a breach, but rather will contact customers via email, it previously said in a tweet.

This is actually standard. The Federal Trade Commission website notes there is a vast range of scams wherein someone will call you, and numerous other companies have warnings that their employees will never proactively call a customer about account issues.

The agent I spoke to said they would freeze my account for 24 hours to ensure no funds could be stolen (thanks, I guess?) and that a supervisor would reach out to me (I continue to wait for this supervisor to call). This supposed freeze on my account can be extended to three months if there are multiple failed login attempts.

To wrap up the call, he said he’d send me an email summarizing all the details we’d discussed. On Saturday night, I received an email with the subject line “your case is under review.”

The follow-up email this very helpful customer service representative sent was extremely informative.

For one thing, the email address they had associated with my account is a public-facing address, but is not the email address attached to my actual Coinbase account (in fairness, I forgot that part until I tried to find my login information a few days later).

Gmail initially (correctly) flagged this email as spam. I moved it to my inbox, where Gmail then showed me that the sender (help@info-coinbase.com) was not the actual sender — the email arrived via learnindonesian.online. Even the info-coinbase.com part is sketchy — for one thing, Coinbase’s website is coinbase.com, though it does send emails from info@info.coinbase.com — still, you wouldn’t expect a hyphen in a support email domain. For another, the info-coinbase domain was first created in November 2024 (according to an ICANN lookup) and isn’t a real website.

The email headers were also not super helpful in terms of providing any sort of identifying information, but they did confirm that the sender appeared to have tried to obfuscate their information.

Curiously, the “Visit Coinbase” link at the bottom appeared to link to the actual Coinbase website and there do not appear to be any hidden embedded images or other attached files in the email at all. I’m not totally sure what’s going on there. A real scammer could have embedded a virus of some sort into the email or even a tracking pixel. Another common tool scammers might use is putting in a phishing link in place of a legitimate one in an email, tricking the user into going to a website intended to steal their login information (this is not legal, technical or any other sort of advice; if you decide to try and scam somebody using information you gleaned from this newsletter, stop it).

While scammers might sometimes know how much their intended victims have in a wallet or account, the person who called me did not appear to have that information (as I have zero crypto in my Coinbase account).

I called the number back on Friday to see what might happen. No one picked up. I guess my account must be secure now.

  • Stand With Crypto Removes Soulja Boy From NJ Governor Rally After Discovering Sexual Assault Fine: Stand With Crypto announced Soulja Boy and 070 Shake would headline a “get out the vote rally” next week ahead of New Jersey’s governor primary election. SWC removed Soulja Boy a day later after discovering he was found liable for sexual battery and assault charges and ordered to pay $4 million last month, in a case stemming from 2021.
  • SEC Task Force Chief Says Crypto Traders Need to be Growups, Not Cry to Government: SEC Commissioner Hester Peirce told the Bitcoin 2025 Las Vegas audience that it’s fine to invest in speculative assets, especially if there’s no federal regulator with close oversight, but those investors can’t ask for a bailout when prices sink.
  • U.S. House Republicans Officially Introduce Crypto Market Structure Bill: House Republicans have formally introduced the Digital Asset Market Clarity Act, its market structure bill, just weeks after circulating a discussion draft.
  • Crypto Staking Doesn’t Violate U.S. Securities Law, SEC Says: The SEC’s latest staff statement looks at staking and how the securities regulator might evaluate that part of the crypto ecosystem.
  • SEC Files to Dismiss Long-Running Lawsuit Against Binance: The SEC and Binance filed a joint stipulation to drop the regulator’s case against Binance.
  • Suspects in Manhattan Crypto Kidnapping, Torture Case Plead Not Guilty as Investigation Widens: News broke over the weekend that a crypto investor had been kidnapped and tortured for his Bitcoin keys. Two suspects accused of perpetrating the kidnapping have been arrested and pled not guilty.
  • Trump’s Memecoin Dinner Questioned by Top Democrat on House Judiciary Committee: Jamie Raskin, the top Democrat on the House Judiciary Committee, wrote a letter to U.S. President Donald Trump calling on him to publish the names of his guests at last week’s memecoin dinner.

Friday

  • 15:00 UTC (11:00 a.m. ET) A federal judge held a telephone hearing to assess Roman Storm’s defense argument that the Department of Justice may have withheld information. The judge ruled that in her view, the DOJ did not have to review its materials and had not withheld information that rose to the level of affecting proceedings.
  • (The Washington Post) The White House published a “Make America Healthy Again” report that cited nonexistent studies and references — with telltale signs that AI may have been used to generate at least some parts of the report.
  • (The Federal Reserve) The Fed said 8% of adults who responded to a survey said they held cryptocurrency in the U.S., down from 12% four years ago.

If you’ve got thoughts or questions on what I should discuss next week or any other feedback you’d like to share, feel free to email me at nik@coindesk.com or find me on Bluesky @nikhileshde.bsky.social.

You can also join the group conversation on Telegram.

See ya’ll next week!



Source link

0 comments
0 FacebookTwitterPinterestEmail
A person holding a phone looking at a scam text with warning signs around
Gaming Gear

McAfee adds powerful scam detector to antivirus plans, but is it worth paying for when others offer it for free?

by admin



  • McAfee says Scam Detector hits 99% accuracy, including deepfake spotting on video platforms
  • Real-time scam alerts on WhatsApp, Gmail, and more – but only if you pay McAfee
  • Scam Detector adds flash to McAfee’s lineup, but free rivals could be more practical

McAfee has begun bundling its new Scam Detector feature into all its core antivirus plans.

The tool claims to identify scams before they cause harm and offers real-time scanning of text, email, and video content.

The move seems to be in response to the rising threat of AI-driven scams, but it raises questions about whether users need to pay for this kind of protection when several free and similar options exist.


You may like

Scam detection access

McAfee says its tool boasts 99% accuracy for text-based threats and claims to detect deepfakes from YouTube and TikTok with 96% accuracy.

Built with mobile use in mind, it supports apps such as WhatsApp, Messenger, Gmail, and more, being able to scan Android SMS automatically and allows manual scans on iPhones.

Its settings allow users to adjust sensitivity, and it includes on-demand checks by uploading messages or screenshots.

“The reality is that the volume, speed, and sophistication of today’s AI-driven scams have become a drain on people’s time, energy, and finance,” said Craig Boundy, CEO of McAfee

“By including text, email, and video scam detection within all core McAfee plans, we’re helping to democratize scam protection and empowering people to take control over their digital lives.”

However, in order to get access, you must pay for a McAfee antivirus subscription plan, raising the question of whether Scam Detector alone justifies paying for a full security suite – particularly with credible free tools available.

The free alternatives

One such free tool is Bitdefender’s Scamio, a chatbot available on Discord. This feature is not plan-locked like McAfee; it is completely free and allows users to scan links, texts, screenshots, and even QR codes for scam detection.

The tool uses AI to interpret both context and language, but does not include video deepfake detection. Nevertheless, it is accessible and effective for everyday threats.

Google has also rolled out an AI-based scam detector, but only for Pixel phones and only in beta. It scans audio from incoming calls and alerts users in real time if it identifies typical scam language.

Like McAfee, Norton, another heavyweight in the antivirus space, integrates its Genie Scam Protection into its plans, though it focuses on identifying scam language rather than just malicious URLs.

Users also have to subscribe to get full access to its coverage across texts, calls, emails, and websites.

McAfee’s Scam Detector might enhance the company’s standing among the best antivirus providers, but its positioning as a plan-exclusive feature makes it less accessible than alternatives like Scamio.

You might also like



Source link

0 comments
0 FacebookTwitterPinterestEmail
Interpol Arrests ‘Madam Ngo’ In Bangkok For $300M Crypto Scam
GameFi Guides

Interpol Arrests ‘Madam Ngo’ in Bangkok for $300M Crypto Scam

by admin



Interpol, an international police organization, has arrested a woman named Ngo Thi Theu, also called Madam Ngo, in Bangkok, Thailand. She has been arrested for running a $300 million crypto scam that tricked over 2,000 people. The arrest happened in the Watthana area.

The 30-year-old from Vietnam was caught in a hotel with two bodyguards, Ta Dinh Phuoc, 38, and Trong Khuyen Trong, 41, who were also arrested for staying in Thailand longer than their visas allowed.

As per the reports, ‘Madam Ngo’ has assured the people that if they invest in her crypto scheme, they will make a 20-30% profit each month. And as soon as the people invested in her fake crypto scheme, she stole their money and hid it through a complicated money-laundering system. Police from Thailand and Vietnam have worked together to find her.

The scam run by ‘Madam Ngo’ was huge and has shocked many people in the crypto world. She targeted people mostly from Vietnam. Fraudsters used famous people and influencers to manipulate people into trusting them. This plan has helped the scammers to reach more people.

Now, the police of Thailand and Vietnam are working together to figure out how scammers hid the stolen money. This case reminds everyone that the crypto world can be risky because it’s not fully regulated, and investigations are still going on. Additionally, the incident highlights the increasing sophistication and cunning of crypto scams and why countries need to work together to stop such fraud.

Also Read: Crypto Investors Lost $2.6 Million to Phishing Scam



Source link

0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
Crypto Trends

Vietnamese Police Arrest Gang Accused of $394M Matrix Chain Scam

by admin



In brief

  • Vietnamese police have arrested a gang accused of being behind Matrix Chain, a crypto scam that defrauded investors of almost $400 million.
  • The operation saw “many elite officers and soldiers” working around the clock for 200 days.
  • The alleged pyramid scheme had over 185,000 registered accounts, funneling 394.2 million USDT through crypto wallets.

Police in Vietnam have arrested a gang accused of orchestrating a crypto scam that defrauded tens of thousands of people to the tune of almost $400 million (VND10 trillion).

“Many elite officers and soldiers” working around the clock for 200 days were involved in dismantling Matrix Chain, according to the ministry of public security.

It’s claimed victims were enticed with the promise of “super large profits” and healthy commissions, but officials said the token they ended up purchasing was worthless.

Four men and one woman—born between 1980 and 1991—have been detained, with detectives searching their properties and workplaces.

Officials claim a multi-level system spanning three regions in Vietnam was established, with misled investors told to pay a nominal fee of 1 USDT in order to download Matrix Chain’s software.

Of the money collected, about 40% was spent on “regional leaders” attempting to recruit new users and 5% was spent on marketing, with the remainder being used for lavish purchases.

Detectives said that the gang’s alleged ringleader, Nguyen Quoc Hung, considered buying houses, apartments and land in several Vietnamese cities.

Promotional events and training sessions were also launched on Telegram and Facebook—encouraging victims to make further deposits by setting them targets.

It’s estimated that Matrix Chain had more than 185,000 registered accounts, with 394.2 million USDT deposited and funneled through SafePal wallets.

A statement suggests that Hung confessed to contacting anonymous developers on Telegram to develop the platform on his behalf back in 2023—and paid $20,000.

It’s also alleged that he controlled a wallet containing 100 million MTC tokens along with a co-conspirator, and manipulated its market value to extract additional funds from victims.

According to the local news site VnExpress, dozens of alleged accomplices are now under investigation in relation to the pyramid scheme.

Research from Chainalysis last year showed Vietnam ranked fifth in the Global Crypto Adoption Index—dropping two places compared with 2023.

In March, Vietnamese Prime Minister Minister Phạm Minh Chính directed the country’s Ministry of Finance and the State Bank of Vietnam to introduce a legal framework for digital assets, with a view to providing a “safer, more transparent environment for crypto transactions.”

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Big Scam Warning Comes From SHIB Team, Necessary Steps Revealed
Crypto Trends

Big Scam Warning Comes From SHIB Team, Necessary Steps Revealed

by admin


The @susbarium X account has addressed the Shiba Inu community, giving them an important warning about a new scam project targeting SHIB enthusiasts.

This time, scammers are using a major Shiba Inu partner, the Bad Idea AI (BAD) project.

To secure SHIB holders, the post published by @susbarium contains signs that help to spot this scam and specific guidance on how to stay safe and secure one’s crypto from being stolen.

You Might Also Like

Signs of new scam targeting SHIB army

The scam targets the community by impersonating SHIB’s partner, Bad Idea AI, by using a fake portal, offering to claim fake BAD token rewards. Scammers are trying to trick crypto holders into connecting their wallets under false pretexts.

🚨SCAM ALERT🚨

Stay vigilant! There’s a scam targeting our community through a fake claim portal for BAD token rewards. The fraudulent site is trying to trick users into connecting wallets under false pretences.

🔴 Signs of the Scam:
– Fake claim portal that mimics the… pic.twitter.com/epk9RJp59R

— Susbarium | Shibarium Trustwatch (@susbarium) May 27, 2025

The @susbarium social media post shared three additional signs of this scam. This portal mimics the design of the official BAD website. It requests that users connect their wallets to the platform to verify BAD rewards. The last sign is that this website issues “misleading messages suggesting eligibility verification before claiming tokens.”

Therefore, @susbarium warns, it is important not to connect wallets to suspicious crypto web sites. The second rule is the necessity to “verify official announcements from trusted sources before making transactions.”

The last recommendation is that it is important to report scams to SHIB community moderators and warn other SHIB holders as well.





Source link

0 comments
0 FacebookTwitterPinterestEmail
Close