ChainCatcher news, according to CNBC, blockchain research firm Chainalysis warned in a report that as cybercriminals leverage artificial intelligence and become more organized, "pig butchering" scams have surged, with last year's cryptocurrency scam revenue estimated to have reached an all-time high.According to its preliminary estimates, cryptocurrency wallets associated with scams received $9.9 billion in 2024. The company predicts that as Chainalysis uncovers more scam wallets, the figure for 2024 will rise to a record $12.4 billion. The primary reason for the increase in scam revenue is the prevalence of "pig butchering" scams.Additionally, scammers are more likely to target more victims at the cost of smaller payments.

ChainCatcher news, according to Protos, the Thai government cut off electricity, internet, and fuel supplies in the Thai-Myanmar border area at 9 AM on February 5 (10 AM Beijing time) to combat local cryptocurrency scam centers. This operation involved five service providers in the regions of Myawaddy, Payathonzu, and Tachilek.According to investigations, the KK Park scam center located in Myawaddy is suspected of defrauding $100 million worth of USDT through a "pig butchering" scheme. In 2023, Myanmar authorities rescued 1,200 imprisoned individuals in the area. This power cut operation is an important measure taken by the Thai government in response to pressure from China, following concerns raised by Chinese actors who were scammed in the region.Thai Prime Minister Prayuth Chan-o-cha stated that scam activities severely affect Thailand's national image and that strict measures need to be taken. Although the power cut will impact local residents and the normal operation of hospitals, the Thai Ministry of Foreign Affairs stated that relevant communities had been notified in advance.

ChainCatcher news, a California resident has sued three Asia-based banks, accusing them of failing to perform basic checks that led to his loss of nearly $1 million in a cryptocurrency scam.According to a complaint filed on December 31, 2024, Ken Liem's attorney claims that his client was contacted about a cryptocurrency investment opportunity via LinkedIn in June 2023 and was persuaded to transfer funds to the scammers. The funds were then deposited into the three Asian banks and ultimately transferred to a third-party account.The attorney alleges that these banks failed to conduct compliance checks such as "know your customer" (KYC) and anti-money laundering, failing to identify the fraudulent activity, thereby allowing the scammers to open accounts and carry out the scam.

ChainCatcher news, as Bitcoin reaches an all-time high, FBI Baltimore Division agent David Paniwozik has noticed an increasing number of criminals attempting to profit from cryptocurrency scams. A major issue is that investors are still unfamiliar with the technology, making them more susceptible to fraud.SA Paniwozik warns, "Whether you want to transfer $1, hundreds of millions, or billions, there is no limit. You can seamlessly transfer it from a wallet controlled in the U.S. to a wallet controlled overseas in just seconds. Scammers have set up their own cryptocurrency exchanges, convincing you that your investment is growing exponentially, or they say you must pay cryptocurrency to 'unlock' jobs that offer high returns."SA Paniwozik has recently observed a surge in reports of employment scams involving cryptocurrency. Losses reported in Maryland increased from $32,033 in 2023 to $3.8 million from January to October this year. "Thus, in Maryland alone, the average person has lost about $15,000 to $20,000 due to these scams," SA Paniwozik added.According to the FBI's 2023 Cryptocurrency Fraud Report, complaints related to cryptocurrency account for only about 10% of total financial fraud complaints, but the amount stolen accounts for nearly 50% of total losses.

ChainCatcher news, on-chain detective ZachXBT stated this morning that an over-the-counter (OTC) crypto scammer was raided and arrested in Europe, with assets involved amounting to approximately 17 million dollars, which have been seized. This scammer had defrauded a TAO whale of 7.1 million dollars (14,600 TAO) in February 2024, and has also scammed ZYN, MOG, Kondux, Ordiswap, Landwolf, and Hash AI whales this year, with amounts exceeding 8 million dollars.

ChainCatcher news, according to Cointelegraph, U.S. District Judge Ann Marie McIff Allen in Utah has denied the appeal request from Kristoffer Krohn, a promoter of Green United, regarding the September 23 ruling that allowed the U.S. Securities and Exchange Commission (SEC) to sue Green United LLC. The judge stated that Krohn failed to provide grounds for the appeal.In the arguments against the dismissal of the lawsuit, Krohn claimed that the SEC failed to prove that the Green Boxes offered by Green United were investment contracts, which the regulatory agency alleged in its complaint. He also argued that the SEC confused elements in the Howey test that defines securities. However, Judge Allen stated that Krohn's arguments were incorrect, accusing him of selectively quoting terms from two different definitions and "failing to provide any legal support to demonstrate that any court has adopted the definition he described."In 2023, the SEC charged that executives of Green United operated a fraudulent cryptocurrency mining scheme that defrauded investors of $18 million through the sale of Green Boxes and Green Boxes investment products from April 2018 to December 2022.

ChainCatcher message, Meme project Shiba Inu (SHIB) anonymous chief developer Shytoshi Kusama warns users to be aware of a recent scam, where scammers are purchasing X accounts from community members previously followed by Shytoshi Kusama for 1 ETH, renaming them to scam tokens, and launching fake tokens, claiming the project is community-driven. Shytoshi Kusama stated that a system related to Karma and Reputation with DAO governance will be launched to ensure that good behavior is rewarded and bad behavior is recorded.

ChainCatcher news, according to Cryptonews, Thai authorities have cracked a cross-border cryptocurrency fraud case, which allegedly defrauded a local woman of over $620,000.According to local reports, the network spans Thailand, Cambodia, and Myanmar, operating a highly organized scam involving fake online investment opportunities, identity theft, and cross-border money laundering. Investigations reveal that the suspects used a fake investment chat group to lure victims, subsequently moving to private messaging applications to exert more control. In this case, the victim Mallika contacted the scammers through a public Facebook group and was ultimately persuaded to invest in a fake high-return cryptocurrency and stock portfolio, transferring a total of 21 million Thai Baht (approximately $621,000).The Thai Immigration Bureau has obtained arrest warrants and apprehended several suspects, and the case is still under further investigation.

ChainCatcher message, a fraudulent application named "Curve defi v3" developed by "Tao Duong Van," misleads users by imitating the DeFi platform Curve Finance's branding and features, and it ranks among the top 100 financial applications in the Apple App Store. Despite being flagged as a scam by multiple users, the application remains popular in regions such as Europe, Latin America, New Zealand, the United States, and Southeast Asia, putting unsuspecting users at risk.

ChainCatcher news, according to Bitcoin.com, Indian actress Tamannaah Bhatia has been questioned by the Enforcement Directorate (ED) of India for allegedly promoting the "HPZ Token" platform, which is accused of deceiving investors through a cryptocurrency scheme. Authorities are investigating whether she supported the scam and whether she promoted IPL content related to illegal gambling. It remains unclear whether Tamannaah Bhatia is involved, but the investigation is ongoing.Tamannaah Bhatia had previously been questioned in Maharashtra for similar allegations. Investigators looked into her promotion of the Fairplay betting application, which is under investigation for encouraging the viewing of IPL matches related to illegal gambling.Reports suggest that Tamannaah Bhatia promoted IPL content on Fairplay, raising concerns about her role in supporting questionable activities. Investigators are also reviewing her appearances in HPZ Token events, where she received appearance fees, to determine whether her endorsement helped legitimize the platform, which is now allegedly part of a scam.

ChainCatcher news, according to Reuters, the FBI has created a token named NexFundAI on Ethereum to identify and combat these alleged fraudsters and bring them to justice.It is reported that the FBI is discussing cooperation with market makers using the identity of the company and the token. One of the defendants explained that his company uses bots to buy and sell simultaneously on CEX to generate trading volume.Previous news, the U.S. Department of Justice has filed market manipulation charges against four cryptocurrency companies and their related personnel. These companies include Gotbit, ZM Quant, CLS Global, and MyTrade, accused of manipulating the market through "wash trading" to lure investors into "pump and dump" schemes.

ChainCatcher news, according to Cointelegraph, the police in Nghe An Province, Vietnam, which borders Laos and the Gulf of Tonkin, have dismantled a Lao scam gang related to fraudulent wire transfers. These scammers specialize in pig butchering and cryptocurrency investment scams. One of the scammers visited Laos in September 2023 and joined the scam gang. In February of this year, they began creating Facebook accounts to lure victims into emotional deception and investment fraud.One of the scammers posed as a woman and gained the trust of a man in Ho Chi Minh City. The victim was ultimately tricked into investing in "Biconomynft," a fake application that promised high returns. Over the course of several months, the scammers stole more than 17.6 billion Vietnamese dong (700,000 USD) from the victim. Initially, the scammers would win the victim's trust by releasing a portion of the investment funds as profits, but once the victim invested more money, the scammers would lock the account and freeze the funds.

ChainCatcher news, according to Bitcoin.com, the Indian Enforcement Directorate has uncovered a massive $48 million scam related to the online gaming app Fiewin, which involves Chinese nationals.After an in-depth investigation, approximately $3 million in accounts linked to these individuals have been frozen. The scam lured users with a quick money-making scheme but blocked fund withdrawals. The investigation also involves assistance from Binance, revealing a complex transfer of cryptocurrency to China.

ChainCatcher news, according to Decrypt, South Korean financial regulators have issued a stern warning, stating that a life sentence will be imposed for cryptocurrency fraud cases that profit over $4 million (approximately 5 billion won). This warning was issued following the enactment of the South Korean "Virtual Asset User Protection Act" in July 2024, which aims to prevent cryptocurrency crimes, partly inspired by the events involving Terra/Luna founder Do Kwon and the collapse of the FTX exchange.In addition, the new law stipulates other penalties, including fines of 3 to 5 times the illegal profits, as well as a maximum of one year of imprisonment.

ChainCatcher news, the Indonesian Criminal Investigation Agency (Bareskrim) has collaborated with Binance and Tokocrypto to capture a major fraud operation, identifying multiple suspects and seizing $200,000 in ill-gotten gains.Bareskrim has launched an investigation into a suspected trading fraud case involving a cryptocurrency trading website. The investigation confirmed that the website was part of a pig butchering scam. During the investigation, several individuals involved in managing accounts that received stolen funds were arrested. Authorities discovered approximately 50 mobile phones and several local bank cards, as well as banking applications, on the suspects' mobile phones and tablets. When asked about the cryptocurrency wallets they controlled, the suspects refused to cooperate.Through forensic analysis, Bareskrim investigators identified wallet addresses that may be controlled by the suspects and found supporting evidence in their communication records, particularly on Telegram. Their chat screenshots revealed several key wallet addresses, further linking the suspects to the fraud.Bareskrim has arrested individuals involved in managing the stolen funds.

ChainCatcher news, the U.S. CFTC has imposed a fine of $36 million on New York resident William Koo Ichioka for allegedly deceiving cryptocurrency investors through promises of high returns and using the funds for personal expenses.According to a statement on September 20, the CFTC ordered Ichioka to "pay $31 million in restitution" to victims and an additional $5 million in civil penalties for operating fraudulent forex and cryptocurrency schemes. The CFTC stated that Ichioka launched the scheme in 2018, accepting funds from investors and falsely promising "a 10% return every 30 business days." It further claimed that while Ichioka did invest "some funds" in foreign currencies and cryptocurrencies as promised to investors, he "mixed" investors' money with his own for personal expenses, including "rent for personal residences, jewelry including watches, and luxury cars."This decision came more than a year after a court's "preliminary consent order for a permanent injunction against Ichioka" in August 2023. At that time, the regulator prohibited him from "trading in any CFTC-regulated markets and also barred him from registering with the CFTC."

According to ChainCatcher, South Korean police arrested a man in his 40s in August 2024, who is suspected of orchestrating a major cryptocurrency scam that defrauded 158 investors of a total of 16 billion won (approximately 12 million USD).It is reported that the scam activity lasted from November 2021 to June 2022, with the suspect using a fake cryptocurrency mining business as a front, promising investors a monthly return rate of 18%. Victims suffered personal losses ranging from 1.2 million won to 250 million won. After failing to attend a preliminary hearing in September 2023, the suspect evaded capture for 10 months by spending about 21 million won on eye, nose, and facial contour surgeries, and wearing a wig to change his appearance. Ultimately, the police successfully apprehended him through clues such as surveillance footage, phone records, and internet search history.

ChainCatcher news, a South Korean online streamer has been sentenced to a heavy prison term for cryptocurrency asset fraud. The Seoul Eastern District Court sentenced Mr. Seo to 15 years in prison on the 30th, as he was accused of recommending victims to invest in cryptocurrency assets (tokens) issued by his company or related businesses, and misappropriating the investment funds.In addition, Mr. Seo was also accused of misappropriating over 11 billion won (approximately 8.23 million USD) and using company account funds to purchase virtual gifts on AfreecaTV. The court found that Mr. Seo had no intention of fulfilling his commitments from the very beginning and used the investment funds to pay off personal debts.

ChainCatcher news: Ms. Zhang from Tianjin was scammed out of over 260,000 yuan this month, with the fraudulently obtained money withdrawn in Xingguo County. The Xingguo police acted quickly, arresting 8 criminal suspects and dismantling a virtual currency money laundering "water room" operation, seizing 200,000 yuan in related funds.It is reported that the suspect Li Mouyuan provided bank accounts to the money laundering gang to assist in their laundering activities and withdrew over 260,000 yuan while knowing that the funds were involved in online illegal activities. After receiving the cash withdrawn by Li Mouyuan, the money laundering gang fled back to Yuzhou, Henan, and handed the involved funds to the virtual currency money laundering "water room" suspect Hou Moupeng. Hou Moupeng then exchanged the over 260,000 yuan in cash obtained from the fraud into virtual currency U offline, transferring it to a designated virtual currency address, ultimately achieving the laundering and whitening of the involved funds.The police successfully dismantled the money laundering den, arrested multiple suspects, and recovered part of the involved funds.