ChainCatcher news, according to Bitcoin.com, Montana is accelerating the advancement of a digital asset regulatory framework to address the surge in cryptocurrency fraud. State Securities and Insurance Commissioner James Brown cited data from the Federal Trade Commission, stating that nationwide fraud losses reached $12.5 billion in 2024, a year-on-year increase of 25%, with the elderly population becoming a primary target due to their demographic representation ranking sixth in the nation.Brown supports the "Digital Token Regulatory Act" being reviewed by the state legislature, which would authorize regulatory agencies to implement access reviews and ongoing supervision of blockchain service providers, emphasizing "promoting the coordinated development of economic innovation and consumer protection through clear boundaries of rights and responsibilities." If the bill passes, Montana will become the first jurisdiction in the U.S. to systematically regulate on-chain trading entities.Regulatory actions focus on three major risk areas:"Pig Butchering" social engineering scams: 15 cases have been filed statewide in 2024, involving over $900,000, with scammers inducing victims to invest in fake trading platforms by fabricating personal relationships;Bank transfer fraud: using cryptocurrency mixing services to obscure the flow of funds;High-yield investment traps: evading compliance reviews by promising excessive returns.Brown announced the establishment of a cross-departmental digital asset enforcement team, opening a 24-hour reporting channel, and plans to collaborate with federal agencies to trace on-chain funds. Industry insiders point out that this move may provide a paradigm reference for Web3 regulation across U.S. states.

According to ChainCatcher news and the Guangzhou Daily, Guangdong courts recently concluded a virtual currency fraud case. The defendant, Xie, established Company A and issued a virtual currency named "AA Chain," promising investors that the currency would be listed on exchanges and yield high returns.The case shows that in May 2018, Xie established Company A in Guangdong and served as its legal representative. He promoted "AA Coin" on internet platforms as having appreciation potential and promised victims that it would be listed for trading on exchanges, with expected returns of no less than 5 million yuan. One investor thus invested 990,000 yuan to purchase over 1.6 million AA Coins, but these tokens remained locked and could not be traded.The court found that the defendant, Xie, aimed to illegally possess others' property by fabricating facts to defraud them, with the amount being particularly large. He was ultimately sentenced to 11 years in prison for fraud and fined 50,000 yuan. The judgment has taken effect.

ChainCatcher news, according to a report by Cryptoslate, based on a press release from February 13, the Federal Bureau of Investigation (FBI) has helped thousands of victims avoid losses of hundreds of millions of dollars by combating cryptocurrency investment fraud through "Operation Level Up." The program aims to proactively identify and intervene in scam traps, having saved over 4,300 potential victims and prevented approximately $285 million in losses.The FBI tracks fraudulent activities in real-time, directly contacting victims to stop fund transfers, and addresses the emotional trauma of victims by providing necessary psychological support. The FBI urges the public to be vigilant against unsolicited investment opportunities, especially in cryptocurrency, and is committed to gathering intelligence to dismantle fraud crime networks.According to the FBI's Internet Crime Complaint Center (IC3), losses from cryptocurrency investment fraud reached as high as $3.9 billion in 2023, with global losses from "pig butchering" scams amounting to $3.6 billion in 2024, and the actual losses may be even higher. An average of 3,200 cryptocurrency fraud complaints are submitted to the IC3 each month.

ChainCatcher message, the Dongyang Public Security Bureau of Zhejiang Province has issued a notice: Our bureau is investigating a case involving Hu and Jia, who are suspected of committing fraud using a virtual currency called "Xirang Coin." Currently, there are still some victims who have not reported to the public security authorities in a timely manner. In order to clarify all criminal facts and protect the legitimate rights and interests of the people, the following notice is issued in accordance with relevant legal provisions:Reporting registration time and location: Time: within three months from the date of this notice; Location: Dongyang Public Security Bureau Hengdian Branch (No. 66 Jiangbin West Road, Hengdian Town, Dongyang City, Zhejiang Province).Target of the notice: Individuals who participated in the "Xirang Coin" virtual currency project investment under the inducement of Hu, Jia, and others from January 2022 to December 2024.Required materials for registration: 1. A copy of the participant's ID card; 2. Investment proof related to the investment activities on the above platform (project investment screenshots, bank transfer records, third-party payment records, TP wallet address, etc.), WeChat chat records, and other relevant evidence.

ChainCatcher news, according to Hong Kong media East Net, a South Korean man purchased USDT for 700,000 HKD through an intermediary yesterday, but did not receive the cryptocurrency at the exchange shop, suspected of being scammed. The Hong Kong police arrived to investigate and classified the case as "obtaining property by fraudulent means."It is understood that the exchange shop claimed to have paid for the cryptocurrency involved in this case through a third party.

ChainCatcher news, the Hong Kong Securities and Futures Commission has officially announced to the public to beware of Quantum AI, which is suspected of engaging in fraud related to virtual assets.It is reported that Quantum AI claims to use its related artificial intelligence technology to provide cryptocurrency trading services. The Securities and Futures Commission suspects that Quantum AI has used deepfake videos and photos impersonating Mr. Musk, created with artificial intelligence, on its website and social media to deceive the public into believing that Mr. Musk is a developer of the relevant technology of Quantum AI.The Hong Kong Police Force has taken action to block the Quantum AI website and remove related social media pages at the request of the Securities and Futures Commission. Although the police have taken action, the public should be wary of fraudsters who may continue to establish similarly named websites and social media pages.

ChainCatcher news, according to CNBC, Mastercard has partnered with regulatory technology platform Feedzai to leverage artificial intelligence in the fight against online money laundering and financial fraud. Through this collaboration, Feedzai will integrate directly with Mastercard's CipherTrace Armada platform to help banks monitor transactions from over 6,000 cryptocurrency exchanges to prevent fraud, money laundering, and other suspicious activities.It is reported that CipherTrace Armada will be embedded directly into Feedzai's technology, rather than accessed through an API or application programming interface. Feedzai will "ingest" data to provide real-time alerts on suspicious crypto transactions. Mastercard will also utilize Feedzai's artificial intelligence technology, which can identify and block suspicious transactions in a matter of nanoseconds, but can also recognize legitimate transactions.

ChainCatcher news, according to Cointelegraph, the Philippine Securities and Exchange Commission (SEC) held a seminar last month with the U.S. Securities and Exchange Commission (SEC) and the Asian Development Bank on investigation and enforcement training organized by the International Organization of Securities Commissions (IOSCO), aimed at enhancing their skills in comprehensive fraud and scam prevention tools related to cryptocurrency-related crimes.In addition to the seminar, the Philippine Securities and Exchange Commission also signed a multilateral memorandum of understanding with the International Organization of Securities Commissions regarding cryptocurrency crimes. The regulatory agency also hopes that local legislators will draft new laws that align with the standards set by IOSCO to strengthen its enforcement powers.

ChainCatcher news, a former investment banker at Deutsche Bank has been charged by U.S. prosecutors with participating in a crypto fraud scheme, falsely promising investors high returns and using their funds for gambling or to sustain a Ponzi scheme. 27-year-old Rashawn Russell was arrested on Monday and is charged with wire fraud, which could result in up to 20 years in prison if convicted.He allegedly forged documents to deceive clients, sending one investor a screenshot of a bank balance of approximately $355,000, while the actual balance was less than $35,000. During a hearing on Tuesday afternoon, Russell pleaded not guilty. He posted a $200,000 bail and was ordered to appear in court again on May 9. (source link)

ChainCatcher news, according to Binance citing a report from the Department of Justice, the U.S. Department of Justice has seized approximately $112 million worth of virtual currencies related to cryptocurrency investment fraud. This involves six virtual currency accounts authorized for seizure by judges in the Arizona, Central California, and Idaho regions. Binance officially stated: We are proud to have supported the U.S. Department of Justice in seizing virtual currencies related to investment fraud.In addition, Binance will continue to work closely with regulatory agencies and law enforcement to raise awareness of related fraud cases, protect global users, and help prevent more crimes. (Source link)

ChainCatcher news, according to CoinDesk, cryptocurrency detective ZachXBT has filed a lawsuit in Paris against five individuals suspected of being involved in a phishing scam related to BAYC. The investigation began in late 2021, with police suspecting that these five individuals formed a network that fraudulently promoted a service claiming to create animated versions for BAYC NFT holders, but users found that the service stole their NFTs. The scammers operated within BAYC's official Discord channel, which provided a layer of legitimacy to their so-called service, ultimately stealing over $2.5 million.ZachXBT first revealed this crime in an August post titled "Paris Scammers," when he identified the scammers Mathys and Camille through online tracking of cryptocurrency. Paris police now believe they are the core members of the scam. Among the five, two are suspected of handling the website and marketing, while the other three are alleged to have engaged in advertising and money laundering activities. (CoinDesk)

Chain Catcher News, CNBC reported that Mastercard (MA.N) has launched a new tool called Crypto Secure, which will help banks identify criminal activities related to cryptocurrency trading platforms on their payment networks. Crypto Secure was developed by blockchain intelligence company CipherTrace, which was acquired by Mastercard in 2021.CipherTrace will use "sophisticated" artificial intelligence algorithms to assess the risk of cryptocurrency fraud based on data such as blockchain and public records of crypto transactions. CipherTrace, headquartered in Menlo Park, California, primarily assists businesses and official agencies in investigating illegal transactions involving cryptocurrencies, with its main competitors being Chainalysis and Elliptic. (Source link)

According to Chain Catcher news and reported by Forkast, the Indian Enforcement Directorate (ED) has frozen assets of "Chinese-controlled entities" amounting to $1.2 million for allegedly using HPZ Token and applications for crypto fraud.According to Indian media reports, these companies include Comein Network Technology Private Limited, Mobicred Technology Private Limited, Magic Data Technology Private Limited, Baitu Technology Private Limited, Aliyeye Network Technology India Pvt Ltd, Wecash Technology Private Limited, Larting Private Limited, Magic Bird Technology Private Limited, and Acepearl Services Private Limited. These companies raised funds to operate "suspicious" applications such as Cashhome, Cashmart, and easyloan, and entered into service agreements with certain non-banking financial companies. The Enforcement Directorate (ED) stated that the frozen account assets in this case have reached $6.9 million. (source link)