scams

According to market news, a report released by the blockchain security company Hacken shows that Web3 projects lost a total of $464.5 million this quarter due to hacker attacks and scams, with phishing and social engineering attacks accounting for $306 million, becoming the main source of losses.A hardware wallet scam that occurred in January caused a loss of $282 million, accounting for 81% of the total quarterly losses. Smart contract vulnerabilities led to losses of $86.2 million, while access control failures (including breaches of keys and cloud services) caused losses of $71.9 million. The report points out that the largest security incidents often occur in off-chain operations and infrastructure layers, which traditional audits find difficult to cover. The European regulatory frameworks MiCA and DORA are increasing requirements for security monitoring and incident response, and global regulatory agencies are also raising standards for real-time monitoring and emergency response.

Binance announced its participation in the international law enforcement operation "Operation Atlantic," led by the UK's National Crime Agency (NCA), in collaboration with multiple countries' law enforcement agencies to combat cryptocurrency and investment fraud, focusing on "approval phishing" scams.The operation was jointly initiated by the NCA, the U.S. Secret Service, and relevant law enforcement and regulatory agencies in Ontario, Canada, aiming to identify victims who have been compromised or are at risk. Approval phishing typically disguises itself as an investment opportunity, luring users into granting wallet access permissions, thereby transferring assets. During the operation, Binance's special investigation team provided on-site support in London, including fraud identification processes, risk screening, and intelligence analysis, and assisted in identifying potential victims and related malicious websites.At the same time, Binance also provided law enforcement agencies with addresses and suspect intelligence related to the case, supporting asset tracking and enforcement actions. The NCA stated that this operation has successfully protected thousands of potential victims in the UK and overseas. Binance emphasized that it will continue to cooperate with global law enforcement agencies to strengthen the fight against cryptocurrency fraud.

According to CoinDesk, the Financial Services Commission of South Korea and the Financial Supervisory Service jointly issued new regulations requiring all domestic cryptocurrency exchanges to adopt a unified withdrawal delay review standard to curb voice phishing scams.The new regulations eliminate the authority of each exchange to set its own withdrawal exemption conditions, and reviews will be conducted uniformly based on standards such as account history, trading patterns, and behavioral anomalies. It is expected that less than 1% of users will qualify for instant withdrawals. Platforms must also enhance identity verification and fund flow monitoring.Previously, scam groups exploited the exemption rules of various platforms to guide victims to convert cash into cryptocurrency and complete withdrawals within minutes. This new regulation marks a shift in South Korea's cryptocurrency risk control system from industry self-regulation to a national unified standard.

The Department of Homeland Security's official account pointed out that "token scams" are emerging one after another, especially illegal financial activities such as "holding tokens to get rich" and "making profits from off-exchange trading," which may be exploited by foreign espionage and intelligence agencies to harm national economic security. In the face of new technologies and applications, we must actively embrace and effectively utilize them while also preventing risks and ensuring safety, including risks of leakage and hijacking, risks of forgery and tampering, and risks of fraud traps.In the face of the token craze, we must view its value rationally, pay attention to information security and privacy security, and enhance our awareness of safety precautions, ensuring that we understand tokens and use them wisely.

The Federal Bureau of Investigation (FBI) has issued a warning that fake tokens impersonating the FBI have appeared on the Tron network, urging users to remain vigilant.The FBI's New York field office stated on social media that users who receive tokens claiming to be from the FBI in their wallets should exercise caution and never provide any personal identification information to related websites. According to disclosed information, these scams typically operate based on the TRC-20 token standard, where attackers send so-called "FBI tokens" to users' wallets and threaten to freeze assets under the pretext of violating anti-money laundering (AML) regulations, thereby inducing users to submit sensitive information and executing phishing attacks. The FBI also recommends that users report any suspicious activities through its Internet Crime Complaint Center (IC3). It is currently unclear how many users have been affected.

Cybersecurity company CUJO AI has officially launched a network-layer cryptocurrency investment fraud detection capability designed for network service providers (NSP), which can identify fraudulent activities that bypass application layer and platform layer protections. CUJO AI stated that modern cryptocurrency investment scams often rely on rotating domain names, wallet interactions, and social engineering tactics, making it difficult for a single platform to grasp the full picture; the network layer is a key location where such threats are concentrated.According to Chainalysis data, global losses from cryptocurrency-related scams and fraud are estimated to reach $17 billion by 2025, with the majority of victims being ordinary users rather than institutional traders.

According to CoinDesk, law enforcement agencies from the United States, the United Kingdom, and Canada have jointly launched a multinational operation called "Operation Atlantic," focusing on combating "approval-phishing" scams targeting cryptocurrency users.The Ontario Securities Commission stated that these scams typically use pop-ups and prompts disguised as trustworthy applications or services to guide users into authorizing malicious wallet permissions. Once authorized, attackers can control the wallet and transfer assets. Data shows that cryptocurrency scams are expected to generate at least approximately $14 billion in on-chain illegal revenue by 2025, with the total scale potentially approaching $17 billion as more involved wallets are identified.Law enforcement agencies pointed out that current scam activities increasingly rely on social engineering, AI-generated content, and "Phishing-as-a-Service" platforms. The operation is being coordinated by multiple national law enforcement agencies, and regulators stated that the new initiative will help identify victim wallets, timely warn potential victims, and attempt to track and freeze stolen cryptocurrency assets to reduce the space for criminals to profit further.

The Digital Renminbi Operations Management Center officially announced three types of "scam" schemes: Scheme One is using "Digital Renminbi promotion" as a pretext to conduct pyramid scheme fraud. The Digital Renminbi has never engaged in activities such as "recruiting promoters," "promoter exams," "down codes," or "developing subordinates," and has never charged a 400 yuan/device installation service fee. Any recruitment of "civilian promoters" through group chats or offline and online meetings is a scam; Scheme Two is luring individuals to transfer money under the guise of "order brushing and rebates," and Scheme Three is tricking individuals into downloading counterfeit apps to steal information or funds.

Minnesota Democratic-Farmer-Labor Party representative Erin Koegel recently introduced bill HF 3642, aimed at banning the placement and operation of cryptocurrency kiosks statewide. The proposal stems from multiple reports of scams targeting the elderly by local law enforcement, with some victims facing severe financial difficulties as a result. The Minnesota Department of Commerce has stated it "strongly supports" the bill and plans to introduce a broader consumer protection proposal in the coming days.Reportedly, there are currently about 350 cryptocurrency ATMs operated by 8 to 10 companies in Minnesota. Last year, the state received 70 related complaints, reporting total losses of $540,000. The bill would repeal the existing regulatory framework established in 2024, including disclosure requirements and transaction limits.

According to Bleepingcomputer, Trezor and Ledger users have fallen victim to physical letter scams, where fraudsters impersonate official organizations to lure users into scanning QR codes that lead to phishing websites, and deceive them into providing their recovery phrases under the pretext of "identity verification checks" and "transaction checks," thereby facilitating the theft of cryptocurrency assets.

Binance founder CZ revealed that he discovered users on the social media platform X using AI-generated images to impersonate supporters who are closely associated with him.CZ pointed out that the account has 863,000 followers, used a photo from a BNB Chain event in Korea that he attended as a banner, and posted several AI-generated photos of him with CZ. By analyzing the details of the photos, such as the fact that he never wears blue or purple clothing, and the inconsistent resolution of the characters in the images, CZ identified these as forged images. The original photo was actually a picture with Aster CEO Leonard.CZ reminded the community to be vigilant against such potential scams, while also stating that the Binance team welcomes sincere constructive feedback.

The community has announced that the official Solar X account (https://x.com/Solana_zh) is suspected to have been hacked, and the account is currently unable to log in. They are urgently contacting the platform for resolution.Solar has also issued a risk warning to the community, stating that during this period, any requests for information, funds, or sensitive operations made in the name of Solar on the X platform are fraudulent. Community users are reminded not to be deceived.

According to CoinDesk, cryptocurrency analysis firm Chainalysis stated in its latest report that losses from cryptocurrency scams and fraud could reach as high as $17 billion in 2025.Among these, impersonation scams have seen a year-on-year increase of 1400%, while AI-assisted scams are 4.5 times more profitable than traditional scams.

Uniswap founder Hayden Adams commented on the NYC token event launched by former New York City Mayor Eric Adams on the X platform. Hayden Adams stated that celebrity politicians can legitimately profit from blockchain technology without damaging their reputation or getting into legal trouble.Hayden Adams pointed out that blockchain has created unprecedented and extremely powerful tools for coordination, monetization, and value distribution. It exists in reality and is functioning, used by millions of people worldwide, with an increasing number of assets being tokenized and real business models developing on this basis. However, when celebrities use blockchain, they essentially act like foolish scammers, often unaware that transactions are public.

According to CNBC, based on data from the FBI, losses from cryptocurrency ATM scams have reached $240 million, nearly double the number of similar scam cases in 2024. Spokane, Washington, has implemented a comprehensive ban on cryptocurrency ATMs, becoming the largest city-level ban in the United States.Several states in the U.S. are tightening regulations or discussing restrictions, including Arizona, Arkansas, and St. Paul, Minnesota, which are also considering following Spokane's comprehensive ban. 80% of the world's cryptocurrency ATMs are located in the United States.

The Shanghai Municipal Justice Bureau has issued a reminder that recently, many places across the country have seen a new tactic in telecom network fraud involving counterfeit supermarket "tasting cards" as bait. Related groups are luring individuals by distributing fake "tasting cards" offline, enticing them to scan a code to join so-called "benefit groups," and then carrying out scams such as transferring money for rebates.Police reports indicate that multiple cases have been solved in Shandong and other areas, with several suspects arrested. Investigations show that criminals use overseas communication software to contact their superiors and settle criminal proceeds through virtual currencies, making their activities highly concealed. The Shanghai Municipal Justice Bureau urges the public to enhance their awareness of prevention, not to scan unknown QR codes, and not to disclose personal information to unfamiliar platforms to avoid financial losses.

Binance founder Zhao Changpeng stated, "Anyone claiming they can help you get listed on Binance (listing on Binance) is a scammer. If you see anyone (including so-called intermediaries, consultants, former employees, or current employees) making such claims, please be sure to report them. Relevant individuals will be blacklisted, and in some cases, may even be publicly disclosed.Recently, even a national president inquired whether I could assist with a listing, and I made it clear: I cannot help."

Hong Kong Monetary Authority Issues Risk Warning AgainThe Hong Kong Monetary Authority (HKMA) has once again issued a risk warning, stating that a platform named "Hong Kong Yunbo Holdings/Yunbo Holdings 2.0" claims to have relevant cooperation with the HKMA. It falsely asserts that the HKMA, as a technical and financial guidance unit, provides the platform with an on-chain stablecoin framework, cross-border settlement model, and support for building a financial-grade node security system. The HKMA solemnly declares that it has no relationship with this platform and that the relevant platform is not regulated by the HKMA. Currently, no licenses have been issued to any stablecoin issuers. If anyone promotes stablecoins, the public must remain vigilant. If it is discovered that they are targets or victims of a scam, they should immediately contact the Hong Kong police or relevant authorities in the mainland.

The Xinhua News Agency's WeChat public account forwarded a safety reminder announcement previously released by the WeChat Security Center: "Recently, the WeChat platform has received user complaints that some WeChat accounts are involved in organizing pyramid schemes, fraud, and other illegal activities within WeChat groups.Such behaviors disguise themselves under the pretense of national asset unfreezing, national policies and engineering projects, as well as blockchain virtual currencies, stablecoins, etc., using high returns as bait to lure users into joining WeChat groups. They encourage users within the group to invite others, post suspicious links to download fraudulent apps, engage in daily check-ins, meeting courses, and other brainwashing activities, ultimately leading to fraud. The aforementioned behaviors seriously infringe upon users' property rights."

The WeChat Security Center stated that it has recently received user complaints about certain WeChat accounts engaging in illegal activities such as organizing pyramid schemes and fraud within WeChat groups. Such activities disguise themselves under the pretense of national asset unfreezing, national policies, and engineering projects, as well as blockchain virtual currencies and stablecoins, using high returns as bait to lure users into joining WeChat groups. Within these groups, users are encouraged to invite others, post suspicious links to download fraudulent apps, engage in daily check-ins, attend meetings and courses, and other brainwashing activities, ultimately leading to fraud. These actions seriously infringe upon users' property rights.Once such behavior is discovered and verified, the platform will take action based on relevant national laws and regulations, as well as the "Tencent WeChat Software License and Service Agreement" and "WeChat Personal Account Usage Specifications," among other platform agreements and rules. Depending on the severity of the violations, related accounts will be subject to a tiered approach to handling, with repeated offenders potentially facing permanent login restrictions, and confirmed violating WeChat groups will have their group functions disabled.