Category Archives: Scam

Crypto Scam Digest – October 21, 2022

Two Men Sentenced to Prison for SIM-Swapping Crypto Scam

Two Massachusetts men were sentenced to two years in prison for stealing the social media accounts of crypto executives and using SIM-swapping to bypass 2FA protections. DOJ

$1.6M Stolen from an FTX Account

Details are unclear but it seem that hackers exploited automated trading bot API 3commas in order to take control of the user’s account and make thousands of trades. WU Blockchain

Localbitcoins User “Mustangy” Sentenced in Federal Court for Money Laundering

AKA Mustafa Goklu, Mustangy posted ads on offering to pay cash for up to $99,999 in Bitcoin. The cash he was offering came from his drug trafficking business. DOJ

Coinbase Users Sue over $21 Million in Crypto Scam Losses

Nearly 100 Coinbase users are taking the company to arbitration for failing to protect them from mining pool scams. Forbes

Three States Take Action Against Slotie NFT

Three US states have filed cease-and-desist orders against Slotie NFT for selling NFTs without proper registration and funneling the proceeds into metaverse casinos. Coindesk

Crypto Scam Digest – October 14, 2022

Scam Victim Withdraws BTC, Gets Toilet Paper

A Pennsylvania man received a briefcase which supposedly held cash from his crypto profits, but it turned out to contain toilet paper. And he paid an extra $9K for the code to open the briefcase. PA Homepage

WhatsApp Scam Impersonating Scary Spice

A scammer sent WhatsApp messages to stars and friends of Mel B (aka Scary Spice) asking for crypto donations to “help African children dying of thirst”. Yahoo!

Binance Hacked for Two Million BNB

An exploit of weaknesses in cross-chain bridges allowed a scammer to steal 2M Binance Coin worth about $580M. Yahoo!

French Police Charge Bored Ape NFT Thieves

Bored Ape NFT owners fell for a phishing scam that claimed it would animate the valuable NFTs. $2.5M in NFTs were stolen in all. Decrypt

Indian Police Target Scam Cloud Mining App

31 people fell victim to scam cloud mining app “CCH Cloud Miner” and police have filed a case against 3 of the scammers involved. Inc42

“Pig Butchering” Scams Increasing on Tinder

Scammers are using Tinder to meet victims, then dating them for weeks in order to set them up for a crypto theft. NY Post

Crypto Scam Digest – October 7th, 2022

Kim Kardashian Settles Charges for Illegal Crypto Promotion
Kardashian paid $1.26 million in penalties for promoting EthereumMax on social media without disclosing how much she was paid to do so.

Class Action Lawsuit Filed Against Just A Bit of Coin
Plaintiffs claim that Just A Bit of Coin promised to build bitcoin mining rigs for customers but never delivered, blaming supply chain issues.

Brazilian Police, US Homeland Security Bust Crypto Fraud Ring
A multi-year investigation has ended with the execution of 20 search and seizure warrants against a crypto scam ring based in Curitaba, Brazil.

Malicious DApp Is Stealing Crypto from Other Crypto Scammers “Water Labbu” is inserting malicious code into crypto scam websites and emptying the wallets of visitors of those sites before they even have a chance to get scammed the usual way. Trend Micro

Bitcoin Scams are the World’s Other Continuing Pandemic

2020 Scam Report Origins

Based on the origins of Scam Reports received by in 2020, bitcoin scams are the world’s other continuing pandemic.

BitcoinWhosWho received Scam Reports from 149 countries in 2020. 25 countries originated at least 100 reports.

Continue reading Bitcoin Scams are the World’s Other Continuing Pandemic

The Most Frequently Reported Bitcoin Scams Of 2020

The Top 25 Most Frequently Reported Bitcoin Scam Addresses to in 2020* received 9.5994793 total BTC.

Every single address is associated with the “sextortion” email scam first reported here in March 2018. There are many variations of the scam, but basically claims to have webcam footage of the email recipient visiting adult websites and demands payment in bitcoin or else the video will be sent to their contacts.

The average amount scammed was .092 BTC.

Top 25 Most Frequently Reported Bitcoin Scam Addresses of 2020

Continue reading The Most Frequently Reported Bitcoin Scams Of 2020

Multi-Million Dollar Canadian Bitcoin Scam Using Binance

Scammer will provide a QR code and the location of the closest bitcoin ATM.

If you have been caught up in this scam, you have a better than average chance of recovering funds.

The first “CRA scam” was reported to in August 2018. Since then, there have been dozens of reports of this particular tactic and it continues to fool a lot of people.

The most frequently reported CRA scam, aka “SIN scam”, bitcoin address has received 567BTC (as of Sept 9), worth almost CAD$8M.

Based on input transactions to this address alone, it appears to be scamming 2 or 3 people a day out of ~.33 BTC a pop.

The fraud starts with a caller ID spoofing Service Canada, Canada Revenue Agency (CRA), Royal Canadian Mounted Police (RCMP) or even sometimes reportedly the FBI. The caller claims there was fraudulent use of your Social Insurance Number (SIN) and only by visiting the closest crypto ATM and depositing BTC into their wallet (which they will conveniently text you a QR code for!) will they be able to “assist”. Don’t fall for it!

Continue reading Multi-Million Dollar Canadian Bitcoin Scam Using Binance


The first “Elon Musk/Tesla” #Bitcoin scam reported to in June 2018 involved a hijacked high-profile verified Twitter account pretending to giveaway our beloved valuable crypto asset. Since then, the volume of Elon Musk (& Tesla) related bitcoin scams reported has increased dramatically, especially from Japan.

Elon Musk & Telsa Bitcoin Scam Report Volume

Almost 45% of Elon Musk/Tesla bitcoin scam reports come from Japan. 16% are unknown, 15% are US and the rest;

Continue reading The RISE OF Elon MUSK BITCOIN SCAMS

Have You Received A Threatening Email Asking For Bitcoin?

Don’t worry! In fact, congratulations, you are popular! Pretty much everyone has received a version of this bogus email threatening to expose risqué webcam footage of their mark to contacts. Be assured it is fake, even if it contains one of your online passwords!

These are some examples of the email:

Continue reading Have You Received A Threatening Email Asking For Bitcoin?