Hong Kong’s financial regulators have decided to retain the grace period for crypto firms despite recent scandals involving fraudulent activities in the crypto sphere. The grace period allows crypto firms to continue operating without a license until June 2024, giving them ample time to comply with new regulatory standards. The Securities and Futures Commission (SFC) […]
Inferno Drainer, a notorious crypto wallet-draining kit involved in cryptocurrency scams, has announced its shutdown. This kit has been responsible for phishing schemes that resulted in the theft of over $80 million in cryptocurrencies, affecting thousands of victims. Inferno Drainer gained attention after the shutdown of Monkey Drainer, which was responsible for stealing around $13 […]
Hong Kong’s Securities and Futures Commission (SFC) has taken action against a suspected fraudulent crypto asset trading platform called Hounax. The SFC flagged the company earlier this month, marking a significant step in the city’s efforts to combat crypto-related scams. The Hong Kong Police Force has initiated an investigation into the alleged scam, following reports […]
A one-year grace period for cryptocurrency exchanges in Hong Kong will continue despite recent scandals. Julia Leung, Hong Kong’s Under Secretary for Financial Services and the Treasury, stated that fraud will still occur even if the grace period ends, so there are no plans to modify the grace period or other measures at this time. […]
The Hong Kong Police have launched an investigation into Hounax, a cryptocurrency trading platform, following multiple complaints of scams totaling $15.4 million. Victims claim that they were lured into investing in crypto on the platform but faced difficulties when trying to withdraw their funds. Some victims are blaming the authorities for their losses. One victim, […]
In the world of decentralized finance (DeFi) and NFT initiatives, thefts involving cryptocurrencies are unfortunately common. Recently, an investigation uncovered the activities of a scam service provider called Inferno Drainer, who assisted in multi-chain schemes in exchange for a portion of the stolen assets. According to Scam Sniffer, a Web3 security company, Inferno Drainer has […]
A Bored Ape Yacht Club (BAYC) owner recently had a close call with a scammer posing as a Forbes journalist. The NFT collector, known as ‘Crumz’, shared his experience of being contacted by someone pretending to be Robert LaFanco, a real Forbes editor. The scammer offered an interview for an article about BAYCs and asked […]
Bitcoin deposits and withdrawals have been restored on the HTX crypto exchange, formerly known as Huobi, following a $30 million exploit. In a recent blog post, HTX announced that deposit and withdrawal functionality is now available for multiple currencies, including Bitcoin, Ether, Tron, and Tether. The exchange plans to gradually bring back functionality for the […]
Inferno Drainer, a notorious crypto wallet-draining kit, has announced its permanent shutdown after aiding phishing scammers in stealing approximately $70 million worth of cryptocurrency this year. The team behind Inferno Drainer expressed gratitude to their users but stated that nothing lasts forever. While the files and infrastructure required to run the wallet drainer will remain […]
Former Binance CEO Changpeng Zhao is facing the possibility of a 10-year prison sentence for violating the Bank Secrecy Act. Binance, the cryptocurrency exchange, has been implicated in a global criminal enterprise and has agreed to pay a record $4.3 billion fine. The Department of Justice (DOJ) is pushing for travel restrictions for Zhao until […]
