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Cryptonews Tags Crypto fraud

# Crypto fraud

All #Crypto fraud

Blockchain News
Arizona AG Warns Residents: Crypto ATM Scams Are Surging

Arizona Attorney General Kris Mayes issued a statewide scam alert after residents lost over $177 million to crypto ATM fraud in 2024, coinciding with a nationwide crackdown that includes lawsuits against major kiosk operators and federal legislation targeting the industry as the FBI reported a 99% surge in complaints.

, by Anas Hassan
Blockchain News
US Court Sentences Chinese National to Nearly 4 Years for $37M Crypto Fraud

A Chinese national received a 46-month federal prison sentence for laundering $36.9 million stolen from American victims through romance scams and fake cryptocurrency trading platforms, with stolen funds routed through Bahamas banks before conversion to Tether and distribution to Cambodia-based scam centers.

, by Anas Hassan
Blockchain News
DOJ Targets Crypto Fraud in ‘America First’ Blitz as AI Scams Spike 450%

The DOJ’s 2025 Year in Review shows crypto and AI increasingly involved in large-scale fraud, including Medicare and investment schemes, with 265 defendants charged and billions in losses targeted.

, by Hassan Shittu
South Korea Probes Theft of Seized Bitcoin Worth $48M in Suspected Phishing Heist
South Korean prosecutors are investigating the disappearance of a significant amount of Bitcoin that had been confiscated as criminal proceeds, after an internal audit suggested the assets may have vanished while under state custody. The Gwangju District Prosecutors' Office believes the loss...
, by Hassan Shittu
Guernsey Seizes $11.4M in OneCoin Fraud as Cryptoqueen’s Empire Crumbles
Guernsey has recovered over £8.5 million, or about $11.4 million, of money associated with the OneCoin fraud, which is one of the most tangible financial recoveries to date connected with the case of fugitive founder Ruja Ignatova, also known as the “Cryptoqueen.” The ruling adds fresh weight...
, by Hassan Shittu
South Korean Customs Authorities Nab $101.7M Crypto Fraud Ring
The South Korean Customs Service (KCS) has dismantled a criminal ring involving nearly 150 billion won ($101.7 million) in crypto via a money laundering scheme. Per the Korean Yonhap report, three Chinese nationals were held for violating the foreign exchange transactions act. The cryptos were...
, by Sujha Sundararajan
Crypto Scam Kingpin Behind $15B Bitcoin Seizure Deported to China — What Happens Next?
Chinese authorities have taken custody of Chen Zhi, the businessman at the center of what U.S. officials describe as one of the largest crypto scam and money laundering operations ever uncovered. The move places the alleged kingpin behind a multibillion-dollar “pig butchering” network directly...
, by Hassan Shittu
Hong Kong JPEX Case Escalates: Influencer ‘Zhu Gongzi’ Slapped with New Charges in HK$18.8M Laundering Probe
Hong Kong’s JPEX cryptocurrency fraud case has taken another step forward after internet influencer “Zhu Gongzi” was hit with additional money laundering charges tied to more than HK$18 million in suspected criminal proceeds, as prosecutors move to escalate proceedings to the District...
, by Hassan Shittu
SEC Labels Third-Party Bitcoin Mining a ‘Security’ in $48M Fraud Bust
The U.S. Securities and Exchange Commission says some third-party Bitcoin mining hosting deals can amount to securities, according to a federal lawsuit tied to an alleged $48 million fraud involving mining firm VBit Technologies. In a complaint filed Wednesday in the U.S. District Court for the...
, by Hassan Shittu
Canadian Man Charged for Orchestrating $42M Crypto Fraud Scheme Luring Users on Discord
US federal prosecutors have charged a 26-year-old Canadian citizen in connection with a $42 million fraud scheme, claiming to raise funds for investments in crypto, TradFi markets. Nathan Gauvin lured individuals on the social media platform Discord, directing investors to put their money into...
, by Sujha Sundararajan
Do Kwon Sentencing: Judge Demands Clarity on Looming 40-Year South Korea Prison Term
US District Judge Paul Engelmayer has asked prosecutors and defense lawyers for detailed clarification on a series of unresolved issues ahead of Terraform Labs co-founder Do Kwon’s sentencing. This includes the possibility of the crypto entrepreneur facing an additional 40-year prison term in...
, by Hassan Shittu
UK Crime Agency Exposes ‘Cash for Crypto’ Money Laundering Ring, $33M Seized in Britain Alone
The UK National Crime Agency (NCA) has exposed a billion-dollar money laundering network that collects criminal cash and converts it to crypto to evade sanctions and support the Russian war against Ukraine. The NCA, along with its enforcement counterparts from countries including the US, France...
, by Sujha Sundararajan
High-Profile Ethereum MEV Fraud Trial Collapses as Judge Declares Mistrial
A crypto fraud case involving two brothers accused of stealing $25 million through an alleged exploit on Ethereum has ended without a verdict.
, by Amin Ayan
Hong Kong Authorities Charge 16 in Massive JPEX Crypto Fraud Case Worth Over $200 Million
Hong Kong authorities have filed charges against 16 people, 12 men and 4 women, including former barrister Joseph Lam Chok, in connection with the HK$1.6 billion (US$205.8 million) JPEX crypto fraud case. Police first exposed the case in September 2023, making it one of the city's largest...
, by Anas Hassan
Ex-Rugby Star Arrested in Shocking $91,000 Alleged Crypto Theft Scheme
Former Australian rugby league player Trent Merrin has been charged with stealing cryptocurrency worth about $140,000 (roughly $91,000 USD), following a year-long police investigation into what authorities describe as a deceptive transfer of digital assets from a victim’s account. Merrin, 36,...
, by Hassan Shittu
Alleged Mastermind Behind $31M FINTOCH Exit Scam Arrested in Thailand
Thai authorities arrested Liang Ai-Bing, a Chinese national accused of orchestrating a $31 million crypto Ponzi scheme, at a luxury Bangkok residence on October 29, 2025. According to a local report, the arrest follows a coordinated intelligence operation between Thai and Chinese law...
, by Anas Hassan
Crypto Security Is Broken — and It’s Focused on the Wrong Risks
Op-ed: Experts warn crypto is spending billions on audits while phishing scams drain wallets. Read why security theater won’t stop real attacks.
, by Alex Katz
CEO Pleads Guilty in ‘$200M Bitcoin Fraud’ That Duped 90,000 Investors With Fake 3% Daily Returns
Ramil Ventura Palafox, the chief executive of a bitcoin investment and multi-level marketing firm, has pleaded guilty to wire fraud and money laundering. According to federal authorities, he orchestrated a Ponzi scheme that defrauded more than 90,000 global investors. The 60-year-old dual...
, by Hassan Shittu
Denver Pastor Ordered to Repay $3.39M After Court Rules Crypto Tokens Defrauded 600 Church Members
Denver District Court Judge Heidi Kutcher ordered pastor Eligio "Eli" Regalado Jr. and his wife Kaitlyn to repay $3.39 million after ruling their INDXcoin crypto scheme defrauded over 600 church members and Christian community investors. The judgment follows a three-day bench trial where the...
, by Anas Hassan
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