Nearly everyone is familiar with bequeathing physical and financial assets, but the process of transferring cryptocurrency after you die might not be as popular. Typical assets include tangible items such as cash, property, jewelry and art, in addition to stocks and bonds. Recently, more and more people are adding digital assets to their portfolios, usually […]
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Meta Removes Millions of Accounts Pushing ‘Pig Butchering’ Investment Scam
Meta said Thursday that it removed more than 2 million accounts this year that sought to trick internet users around the world into forking over their money in fake investment schemes, part of a rise in criminal activity across the web. The accounts are linked to so-called pig butchering schemes, in which criminal organizations make […]
Continue ReadingCrypto Laundering Scheme
A man whose 2016 hack of Bitfinex drained nearly 120,000 bitcoin from that cryptocurrency exchange was sentenced to five years in prison for a money laundering scheme that he and his wife pulled off to hide the swiped crypto. The value of that bitcoin at the time of the hack was just $70 million when […]
Continue ReadingFBI Arrests Alabama Man in Hack of SEC’s X Account
FBI officials arrested an Alabama man Thursday for allegedly hacking the Securities and Exchange Commission’s X account this year as part of an attempt to promote bitcoin. Eric Council Jr., 25, was slated to appear Thursday in the U.S. District Court for the Northern District of Alabama on charges of conspiracy to commit aggravated identity […]
Continue Reading‘Pig Butchering’ Crypto Scam
Prosecutors in Brooklyn seized nearly two dozen web domains associated with a scheme known as “pig butchering,” in which scammers strike online conversations with unsuspecting victims, gain their trust and then steer them into bogus cryptocurrency investments. Brooklyn-based victims were scammed out of at least $5 million after they were convinced to invest in cryptocurrency […]
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