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)