ChainCatcher news, according to a report by Cryptoslate, based on the Ministry of Home Affairs' 2024 annual report, India has intensified its efforts to combat crypto-related scams by collaborating with tech giants Google and Meta (formerly Facebook). The initiative aims to tackle the growing threat of "pig butchering" scams, a form of crypto investment fraud targeting vulnerable groups such as unemployed youth, homemakers, students, and individuals facing economic hardships.The report describes how these scams typically lure victims through social media platforms and search engines, promising high returns on cryptocurrency investments. In recent months, these scams have become increasingly rampant, with investors losing over $3.6 billion to these schemes in 2024. Scammers often impersonate financial advisors or representatives of legitimate investment firms, gradually building trust before convincing victims to transfer large sums of money into fraudulent schemes. The ministry emphasized that fraudsters abuse Google's advertising services and Meta's sponsored ads to launch malicious applications and phishing activities. In response, India's Cyber Crime Coordination Center (I4C) has developed protocols to work directly with these platforms to flag suspicious activities, block ads, and expedite the removal of fraudulent content.

ChainCatcher news, according to Cointelegraph, the police department of Hanoi, Vietnam, has prevented 300 potential victims from investing in a meticulously designed cryptocurrency scam that has defrauded approximately 10 billion Vietnamese dong (about 1.17 million USD) from around 100 businesses and 400 individuals.It is reported that the Hanoi police have arrested individuals associated with Million Smiles Company, which orchestrated an illegal and fraudulent cryptocurrency investment scheme targeting Vietnamese citizens, promoting its internal cryptocurrency QFS (Quantum Financial System) and linking it to ancestral treasures and spiritual claims through deceptive advertising.

ChainCatcher news, according to Cointelegraph, the Economic and Financial Crimes Commission (EFCC) of Nigeria raided a cryptocurrency scam center in Lagos on December 10, arresting 792 suspects, including 148 Chinese citizens and 40 Filipino citizens.According to Ken Gamble, co-founder of the cybercrime investigation firm IFW Global, the scam gang offered Nigerian employees a monthly salary of $500 plus performance bonuses, which is 10 times the local minimum wage.

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, the Federal Bureau of Investigation (FBI) has been investigating a cryptocurrency pig butchering scheme involving $5 million since August, targeting 71 victims through fraudulent investment plans. Court documents reveal that the scammers used fake social media profiles to lure individuals into a fraudulent trading platform called Bitkanant.In August, federal prosecutors in North Carolina executed a search warrant and seized an unmanaged USDT wallet worth over $4.99 million, which initiated the investigation. These funds are currently held by the U.S. Marshals Service.

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 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, the Fourth Circuit Court of Appeals in the United States recently dismissed a homeowner's lawsuit against the insurance company Lemonade Insurance. The homeowner claimed that the insurance company should compensate for a loss of $170,000 due to a cryptocurrency scam. However, the court ruled that under Virginia law, homeowners insurance only covers "direct physical loss," and digital theft of cryptocurrency does not meet this definition.The judge noted that the insurance company had fulfilled its compensation obligations under the relevant terms of the policy, providing $500 for electronic transfer theft compensation.

ChainCatcher news, according to Protos, victims of the Omegapro cryptocurrency pyramid scheme have filed lawsuits against several well-known football players, accusing them of participating in the promotion of the project. The players involved include Vinicius Jr., Ronaldhino, Luis Figo, and others.Omegapro is a Dubai-based crypto investment company that promised investors astonishing returns of up to 300% within 14 months. Through marketing strategies and celebrity endorsements, the company attracted nearly 3 million customers and raised $4 billion. However, countries such as France, Belgium, Spain, and Peru have issued fraud warnings against Omegapro, and the Spanish Securities Market Commission has listed it among opaque financial enterprises.Despite clear warnings, about 20 active and retired football players still participated in the promotion of the project, including Kaká, Carles Puyol, Roberto Carlos, and Fernando Hierro. Lawyer and investigator Lars Olofsson stated that all football players involved in Omegapro activities will face lawsuits in London.Additionally, Spain also plans to sue these players, but it is currently unclear whether the lawsuits can be established in local courts.

ChainCatcher news, a large-scale cryptocurrency scam trial has begun in Nancy, France, with over 20 defendants accused of deceiving 1,300 victims through fake cryptocurrency and diamond investment schemes. The scam has stolen a total of 28 million euros (approximately 30 million dollars).Colman Law Firm, representing about 100 plaintiffs, stated that one victim lost 400,000 euros in the "diamond savings plan." Investigators revealed that the defendants had a total of 199 bank accounts in 19 countries used for transferring funds, with approximately 2.8 million euros recovered, which may be used to compensate the victims.

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: The U.S. District Court for the Western District of North Carolina sentenced Indian citizen Chirag Tomar (31 years old) to 5 years in prison and 2 years of probation for committing a cryptocurrency fraud of over $20 million by spoofing the Coinbase exchange website.U.S. prosecutors stated that since June 2021, Tomar and his accomplices have defrauded hundreds of victims worldwide by impersonating the Coinbase Pro website (using similar domain names like CoinbasePro.com). The scam group stole user login credentials through phishing websites or impersonated customer service to trick users into providing two-factor authentication codes, thereby illegally accessing the victims' real Coinbase accounts and transferring cryptocurrency.In February 2022, a victim in the Western District of North Carolina was defrauded of cryptocurrency worth over $240,000 when logging into the spoofed website. Tomar converted the stolen cryptocurrency into cash to purchase luxury watches, high-end cars, and extravagant trips.Previously, Tomar was arrested on December 20, 2023, upon entering Hartsfield-Jackson Atlanta International Airport, and pleaded guilty on May 20, 2024.

ChainCatcher news, the Hong Kong police have launched an operation called "Code Words" to make arrests, assisted by personnel from the Cyber Security and Technology Crime Bureau in gathering evidence related to online and cryptocurrency transactions. They have dismantled a local scam group involved in cryptocurrency, arresting 27 individuals and defrauding a total of up to 360 million Hong Kong dollars. Superintendent Yiu Wing-kin from the New Territories South Criminal Headquarters stated that the scam group primarily used online romantic relationships to lure victims into investing in cryptocurrency. To facilitate their fraudulent activities, the group employed technology specialists, including graduates from local universities majoring in digital media, for technical support, and collaborated with overseas scammers to set up a fake cryptocurrency platform.

ChainCatcher News: The newly established electronic fraud investigation unit of the Ohio Bureau of Criminal Investigation has recovered $130,000 from a cryptocurrency scam, marking its first victory. The unit was created to address the increasingly complex cyber financial crimes, particularly those involving cryptocurrency.

ChainCatcher news, at the national conference audit held in Seoul, lawmakers demanded a special investigation into the KOK cryptocurrency scam. According to allegations from the victims' alliance, two subsidiaries of the Chosun Ilbo were aware that KOK was a scam but still actively promoted it, resulting in a loss of 40 trillion won (approximately 2.97 billion USD).According to the Asia Daily, IT Chosun, the business news department under the Chosun Ilbo, reported a significant milestone for KOK in April 2022. Two months later, another subsidiary, Digital Chosun, awarded KOK the "Consumer Satisfaction" award.It is reported that the KOK token attracted nearly 2 million investors worldwide. From 2019 to 2023, investors could use the KOK PLAY platform to consume Korean dramas, movies, and games, and exchange KOK tokens for Bitcoin with a fee of 7-12%. Investors could also earn commissions by recruiting other investors; KOK essentially operated as a Ponzi scheme and multi-level marketing plan.

ChainCatcher news, toy manufacturer LEGO Group has removed the "LEGO Coin" token scam that briefly appeared on its homepage after being hacked on October 5. The "LEGO Coin" token was visible on the toy manufacturer's homepage for about 75 minutes before being taken down.According to reports, LEGO told consumer technology platform Engadget that the cryptocurrency scam only appeared "briefly" on its homepage and that no user accounts were compromised: "The issue has been resolved. No user accounts were hijacked, and customers can shop as usual." "The cause has been identified, and we are taking steps to prevent such incidents from happening again."

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, 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, according to The Verge, at 6:24 AM Beijing time on September 24, the @OpenAINewsroom account, which shares OpenAI news and has nearly 54,000 followers, posted a now-deleted message promoting the "OPENAI" token.The post stated: "We are very excited to announce the launch of OPEANAI: a token that bridges the gap between artificial intelligence and blockchain technology. All OpenAI users are eligible to receive the initial supply of OPENAI. Holding OPENAI will grant access to all our future beta programs."The post also included a link to a fake version of the OpenAI website. The related false post is currently shown as "unavailable." The account was launched earlier this month.