cryptocurrency scams

Coimbatore cybercrime police registered three cases after online fraudsters duped three residents of over Rs 55 lakh. One victim lost Rs 29.27 lakh in a cryptocurrency scam, another Rs 5.18 lakh via a fake RTO challan, and an IT employee was defrauded of Rs 20.97 lakh while attempting to buy a vehicle online.

Bengaluru faces a surge in economic crimes. Over three years, one offense occurred every 2.5 hours. Forgery, cheating, and fraud dominate these cases. This indicates a shift from physical theft to financial deception. Police face challenges due to cross-state networks and digital methods. The city's crime profile is changing.

An unprecedented international effort involving the FBI, Dubai Police, and Chinese Ministry of Public Security has dismantled nine cryptocurrency investment fraud centers, leading to the arrest of 276 individuals. These operations targeted Americans, resulting in millions of dollars in losses. The crackdown highlights a global commitment to combating cross-border financial crime.

Were Threatened When They Sought Repayment

State Ahead Of Nat’l Average in Low Pendency, Filing of Chargesheets

Scammers are using fake AI bots to build emotional connections. These bots then manipulate users into sending money. An AI companion expert shares five red flags to identify these scams. Legitimate platforms offer transparent pricing and no emotional pressure. Users must be vigilant to protect themselves from these online schemes.

Sailors navigating the blocked Strait of Hormuz face a new threat: digital pirates demanding cryptocurrency for safe passage. Maritime risk firm MARISKS warns these messages, impersonating Iranian authorities, are fraudulent. Hundreds of ships and thousands of seafarers are stranded, with at least one vessel reportedly fired upon after paying a fake fee.

A Gujarati man, Dhyey Rakeshkumar Patel, was arrested in Texas for his alleged involvement in a fraud and money laundering scheme. Authorities intercepted Patel before he could collect approximately $335,000 in gold from a victim who had already transferred $25,000 in cryptocurrency. Patel faces multiple felony charges.

A British man has pleaded guilty in the US for his role in a cybercrime scheme that defrauded at least 12 companies and stole over $8 million in cryptocurrency. Tyler Buchanan admitted to using SMS phishing to steal login credentials, which were then used to access company systems and steal digital assets. He faces up to 22 years in prison.