ChainCatcher message, South Korean cryptocurrency exchange Upbit has issued a notice regarding multiple recent fraud cases involving impersonation of former and current Upbit employees. The scammers showcase forged work IDs on social media, falsely claiming to be "employees of Upbit three years ago," and approach victims under the pretext of "providing business model consulting." Additionally, there are scammers impersonating current employees, spreading false information about coin listings.An Upbit representative stated, "Photos of employee IDs have never been made public; all published employee IDs are forged," and emphasized that all information related to trading support is only released through official announcements. They urged users to remain vigilant and report suspicious activities through official channels.

ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) has issued a warning about the growing risks of cryptocurrency fraud and other investment scams during World Investor Week 2024. Against the backdrop of rising influences from artificial intelligence, social media, and aggressive financial marketing, investors are struggling to find reliable advice. The SEC is focusing on scams involving cryptocurrencies, financial inducements, and "relationship" schemes, and warns that the hype surrounding emerging technologies may mislead unsuspecting individuals.

ChainCatcher News: The Wisconsin Department of Financial Institutions (DFI) has launched a publicly accessible tracker to combat cryptocurrency and other investment scams. This software relies on consumer complaints to gather critical threat information and alerts the public, aiming to "make it harder for perpetrators to deceive more investors."Recently, the DFI revealed that, based on victim reports from January 2022 to June 2024, Wisconsin residents have lost nearly $3.55 million due to financial fraud and cryptocurrency scams.

ChainCatcher news, the Bangko Sentral ng Pilipinas (BSP) reminds the public to be vigilant against video and audio scams involving artificial intelligence manipulation, which promote false information related to cryptocurrency investments.The BSP emphasizes that Governor Eli M. Remolona Jr. does not endorse the so-called cryptocurrency project "Tesler Code" or any other cryptocurrency investments. Distorting the BSP or its officials is a punishable offense. To avoid becoming a victim of these scams, the BSP advises the public to exercise caution, refrain from sharing personal information with unverified entities, and verify the legitimacy of communications claiming to represent the BSP.

ChainCatcher news, in response to the rise in fraud cases, the UK's Financial Conduct Authority (FCA) has announced a series of guidelines for financial services companies and social media influencers regarding the posting of memes about cryptocurrencies and other investments. The FCA stated in a statement that any marketing content for financial products— including content expressed through memes— should be fair, clear, and not misleading. The regulator requires that all financial social media influencers must obtain approval from an FCA-designated representative before posting advertisements and memes related to financial products and services.The FCA noted that the use of memes for promotion is particularly common in the cryptocurrency industry, especially on platforms like Telegram and Reddit. This move is part of the FCA's measures in response to the increasing trend of financial fraud, as the regulator removed over 10,000 misleading financial services advertisements in 2022.

ChainCatcher news, according to CoinDesk, a new report from the Federal Bureau of Investigation (FBI) shows that losses from cryptocurrency investment scams in the United States reached $3.94 billion in 2023, a 53% increase from $2.57 billion in 2022.According to the bureau's "2023 Internet Crime Report," the total amount of investment fraud increased by 38% from $3.31 billion to $4.57 billion. Cryptocurrency scams accounted for the majority of these fraud cases, highlighting the prominent role of cryptocurrency in the realm of online crime.

Chain Catcher News, the FBI's Miami Field Office, in collaboration with the Internet Crime Complaint Center (IC3), has issued a "Pig Butchering" warning regarding investment schemes involving cryptocurrency. It states that in these scams, fraudsters pose as highly successful cryptocurrency traders, luring victims into making so-called investments in cryptocurrency and providing fictitious returns to encourage further investment. Fraudsters contact victims through various social media platforms to gain their trust.The FBI has released five ways to identify potential illegal activities: 1. Verify the legitimacy of any investment; 2. Be wary of domain names impersonating legitimate financial institutions, especially cryptocurrency trading platforms; 3. Watch out for misspelled URLs; 4. Do not download or use suspicious applications as investment tools; 5. Be cautious of any high-yield investment products. Additionally, it calls on victims to report relevant information to the FBI's Internet Crime Complaint Center through IC3. (Source link)