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With Donald Trump busy fumbling the launch of his newest crypto offering, World Liberty Financial, phony projects have been cashing in on the frenzy. From August 29 through late Monday evening, the only thing Trump had said about his project was its name. This left the rest to the world’s imagination and opened the door to fakes and lookalikes who duly lured in suckers and their money. From September 3 through at least noon on September 17 — the day after Trump’s launch — a fake website ranked ninth among Google’s search engine results for the query ‘World Liberty Financial.’ The website promoted a fake governance token, WL, which has sadly traded over $3 million since inception. A dizzying assortment of fake governance tokens exists for World Liberty Financial, which has not yet launched an official version. A brand new — and very fake — WLFI on Binance Smart Chain traded over $50 million in the 24 hours after Trump said he would issue the real ...

Address poisoning is one of the latest tricks used by scammers, but this cutting-edge security tool is stepping up the fight to protect users’ crypto holdings. Crypto scams are evolving by the minute to trick a large pool of non-tech-savvy users who are unfamiliar with the intricacies of the blockchain world. Even more experienced users may fall into the scammers’ trap, but browser extension Web3 Antivirus has designed an all-around protection service for Web3 users . One of the recent crypto scams making waves is the so-called address poisoning. MetaMask warned crypto holders about the scam’s existence earlier this year, but it continues to find new victims. For example, in April 2023, the crypto community discovered that an address poisoning attack resulted in the theft of $1.2 million worth of ARB tokens from more than 600 wallets. HACK ALERT: Scammer Steals 933,000 $ARB Tokens Worth $1.3M From Over 630 Wallets Through An "Address Poisoning" Scheme ️#ARB #Arbitrum #...

The co-founder of the fraudulent scheme is set to be sentenced in April 2023 on charges relating to wire fraud and money laundering. Karl Sebastian Greenwood, the co-founder of the multi-billion dollar fraudulent cryptocurrency scheme OneCoin has pleaded guilty to multiple charges brought forward by the United States Department of Justice (DOJ) and faces a maximum of 60 years in prison. The DOJ announced on Dec. 16 that Greenwood submitted a guilty plea in a Manhattan federal court to charges of wire fraud, wire fraud conspiracy and money laundering conspiracy with each charge carrying a maximum potential sentence of 20 years in jail. U.S. Attorney Damian Williams said Greenwood operated “one of the largest international Fraud schemes ever perpetrated” and claimed he touted OneCoin as a “Bitcoin killer” when in reality the tokens were “entirely worthless.” OneCoin was a Bulgarian company founded by Greenwood alongside “Cryptoqueen” Ruja Ignatova that marketed a cryptocurrency by the s...