The U.S. Department of Justice seized over $8.2 million in Tether cryptocurrency linked to "romance baiting" scams, where victims are manipulated into investing on fraudulent platforms showing fictional returns. When victims try to withdraw funds, they encounter insurmountable obstacles. U...
A new crypto theft technique called "transaction simulation spoofing" has emerged, resulting in a $460,000 Ethereum theft. The attack exploits Web3 wallet security features by manipulating transaction simulation previews, using malicious websites and fake claim functions to deceive users d...
Interpol advocates replacing the term "Pig Butchering" with "romance baiting" for online relationship investment scams to reduce victim stigma. These scams, which combine fake relationships with fraudulent investment schemes, caused $4.57 billion in losses in 2023. The terminology change a...
A new AI-powered investment scam called "Nomani" has surged 335% in late 2024, generating 100+ malicious URLs daily. The scheme combines social media ads, fake business profiles, and AI-generated celebrity testimonials to target victims. Operating through multiple phases, from initial cont...
Meta has launched a comprehensive campaign against "pig butchering" scams, removing 2 million fraudulent accounts in 2024. These sophisticated investment fraud schemes primarily originate from Myanmar, Laos, UAE, Philippines, and Cambodia, often operating through forced labor in "scam slav...
