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Bank Info Security 1 year, 10 months ago

FBI Report Says Cryptocurrency Scams Surged in 2023

Victims Reported $5.6 Billion in Financial Losses Associated With Crypto SchemesThe FBI's Internet Crime Complaint Center on Monday issued a report revealing victims filed more than 69,000 public complaints related to cryptocurrency fraud and $5.6 billion in financial losses in 2023, while investment scams made up the bulk of losses throughout the year.

Bank Info Security 2 years, 5 months ago

Apparent Pig-Butchering Crypto Scam Took Down a US Bank

Kansas Bank Forced to Close After CEO Allegedly Embezzled Nearly $50 MillionA watchdog report reveals how Heartland Tri-State Bank CEO Shan Hanes allegedly defrauded a local church and investment club in Kansas out of $47.1 million through a "pig-butchering" cryptocurrency scam that ultimately caused the bank to fail in 2023.