Scammers | ForkLog

ForkLog 80 21.06.2025

Self Chain Founder Denies Involvement in $50 Million OTC Scam

Ravindra Kumar, the founder of the cryptocurrency project Self Chain, has denied accusations of involvement in a fraudulent scheme that resulted in investors losing up to $50 million. I’ve been accused of serious wrongdoing, which is completely false. My legal team and I are working on a statement to address this matter. Stay tuned for […]

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ForkLog 50 18.06.2025

India, Indonesia, and CIS Lead in Fraudulent Activity Rankings

The cryptocurrency exchange MEXC reported a threefold increase in coordinated trading fraud in the first quarter of 2025, with the majority occurring in India, Indonesia, and CIS countries. The platform identified 80,057 attempts at organized fraud, including money laundering, market manipulation, and the use of trading bots. MEXC discovered over 3,000 separate syndicates. India led […]

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ForkLog 254 16.06.2025

Researchers identify causes of ZKJ and KOGE crash on Binance Alpha

Polyhedra Network’s ZKJ and 48 Club Token (KOGE), popular on Binance Alpha, suddenly slumped. Researchers spotted signs of a coordinated dump of large holdings by several whales.

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ForkLog 45 26.05.2025

Crypto Investor Loses $2.6 Million in ‘Zero Transfer’ Scam

A user lost $2.6 million in USDT due to two phishing attacks carried out by fraudsters within three hours, according to analysts at Cyvers. ?ALERT?Our system has detected~2.6M $USDT loss from a targeted address poisoning scam involving zero-value transfers. A single victim was repeatedly scammed by the same attacker address. First, the victim lost 843K […]

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ForkLog 48 22.05.2025

AI System Developed to Combat Address Poisoning Attacks

Cybersecurity firms Trugard and Webacy have unveiled an AI system designed to detect “poisoned” crypto addresses, as reported by Cointelegraph. The tool employs a supervised machine learning model, calibrated using real-time transaction data. It also incorporates on-chain analytics, feature engineering, and behavioral context. Infographic on detecting a poisoned address. Source: Cointelegraph. The system demonstrated a […]

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ForkLog 45 22.05.2025

SafeMoon Founder Faces Up to 45 Years for Investor Fraud

A federal jury has found Braden John Karony, CEO of the DeFi project SafeMoon, guilty of cryptocurrency fraud. According to prosecutors, the accused and his accomplices misappropriated funds from the liquidity pool, despite public assurances of its safety and lock-up. Karony was convicted on three counts: conspiracy to commit securities fraud; wire fraud; money laundering. […]

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ForkLog 21 16.05.2025

AMLBot Exposes Vulnerability in Tether’s Wallet Freezing System

Blockchain analysts at AMLBot have identified a vulnerability in Tether’s wallet freezing procedure, which over six years has allowed criminals to withdraw $78.1 million. The issue stems from a delay between the request to freeze and its execution on the network. According to the report, Tether’s multi-step transaction approval process creates a “window of opportunity”: […]

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ForkLog 31 15.05.2025

Fraudulent Marketplace Haowang Shuts Down Following Telegram Channel Blockade

The largest illegal online platform, Haowang Guarantee, announced its closure. The decision followed the blocking of “thousands” of related channels by the Telegram team. According to Elliptic, Haowang processed over $27 billion in USDT. The platform operated as a marketplace for the sale of technology, data, and money laundering services, targeting clients in Southeast Asia. […]

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ForkLog 69 02.05.2025

US Moves to Disconnect Fraudulent Huione Platform from Banking System

FinCEN has proposed disconnecting the Cambodia-based platform Huione Group from the American financial system. The regulator accused the company of laundering $4 billion, including funds linked to the North Korean hacker group Lazarus. According to the statement, Huione Group and its subsidiaries will lose access to correspondent accounts in the US. This will hinder the […]

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ForkLog 44 30.04.2025

Movement Labs Investigates Market Maker Collusion

The team at Movement Labs is investigating a deal with a market maker that led to the dumping of 66 million MOVE tokens and a subsequent drop in the asset’s price shortly after its listing. This was reported by CoinDesk, citing internal project documents. Deal Structure According to employee correspondence, Movement Foundation transferred 66 million […]

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ForkLog 27 30.04.2025

Fraudsters Target Ledger Users with Fake Letters

The hardware crypto wallet manufacturer Ledger has confirmed reports of a fraudulent scheme to steal seed phrases using paper letters. You are correct, this is a scam. We appreciate your efforts to warn others. Please stay vigilant against phishing attempts. Scammers impersonating Ledger and Ledger representatives are unfortunately common. While we actively report and block […]

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ForkLog 54 23.04.2025

Cryptocurrency Theft Software Operators Turn to Rental Model

The shift by developers of cryptocurrency theft malware—known as drainers—to a Drainer-as-a-Service (DaaS) model, akin to SaaS, has significantly simplified access to and use of the software. This is according to a report by AMLBot. Diagram of drainer operators working with their clients. Source: AMLBot. For a one-time fee of $100-300, novice fraudsters can rent […]

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