By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Live Trading NewsLive Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
Reading: Crypto: FBI Warns of Cyber Frauds
Share
Live Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Follow US
© 2024 LiveTradingNews.com - All Rights Reserved.
Live Trading News > Blog > Shayne Heffernan on Investments > Education > Crypto: FBI Warns of Cyber Frauds
Crypto

Crypto: FBI Warns of Cyber Frauds

Paul Ebeling
Last updated: July 21, 2022 12:22 am
Paul Ebeling
Share
2 Min Read
SHARE

#crypto #cyber #FBI

“The Federal Bureau of Investigation cautions against cybercriminals targeting crypto investors”–Paul Ebeling

According to the FBI, cybercriminals are using mobile crypto asset investment apps as tools for defrauding their victims.

“The FBI is warning financial institutions and investors about cybercriminals creating fraudulent cryptocurrency investment applications (apps) to defraud cryptocurrency investors.

The FBI has observed cybercriminals contacting US investors, fraudulently claiming to offer legitimate cryptocurrency investment services, and convincing investors to download fraudulent mobile apps, which the cybercriminals have used with increasing success over time to defraud the investors of their cryptocurrency.”

The federal law enforcement agency says the bad actors are using the identifying information of legitimate businesses and creating fake websites to dupe investors.

In one of the fraud cases that netted the cybercriminals nearly $4 million in about six months, the victims were duped into downloading a fake app and depositing crypto assets on the platform.

“Between 22 December 2021 and 7 May 2022, unidentified cyber criminals purporting to be a legitimate US financial institution defrauded at least 28 victims of approximately $3.7 million.

The cybercriminals convinced victims to download an app that used the name and logo of an actual US financial institution and deposit cryptocurrency into wallets associated with the victims’ accounts on the app.

When 13 of the 28 victims attempted to withdraw funds from the app, they received an email stating they had to pay taxes on their investments before making withdrawals. After paying the supposed tax, the victims remained unable to withdraw funds.”

The cybercriminals have defrauded more than $40 million from over 200 victims so far, according to the FBI.

“The FBI has identified 244 victims and estimates the approximate loss associated with this activity to be $42.7 million.”

A tip of my hat to sovereign individuals with satoshis and Bitcoin in cold storage with our firm. Click here

Check Price Action

Have a prosperous day, Keep the Faith!

You Might Also Like

Knightsbridge: Pioneering a Corporate Currency Revolution

Top U.S.-Listed Bitcoin Companies $BMNR $MARA $RIOT $CIFR $CORZ $COIN

Saudi Red Sea: A Rising Star in Luxury Tourism

Larry Fink Says Tokenized Assets Are Coming, and Knightsbridge Is Ready

Why You Must Own Bitcoin

TAGGED:cryptocycyberFBI

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Subscribe our newsletter for latest news around the world. Let's stay updated!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
By Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   
Previous Article Eat More Protein When Dieting
Next Article The Power of Word-of-Mouth Marketing


Latest News

Specific Parts of the Donald Trump Bill Upsetting Elon Musk
Headline News Opinion Politics Shayne Heffernan Shayne Heffernan Stocks June 7, 2025
Still a Strong Buy $BABA
Alibaba Group Holding Ltd (NYSE:BABA) America China Headline News Most Popular Opinion Politics Shayne Heffernan Tech today June 4, 2025
Prada Launches New Bangkok Showpiece
Art Fashion Headline News Lifestyle Lifestyles of the RIch and Famous Living Luxury Shayne Heffernan May 30, 2025
Knightsbridge Boosts Nvidia Target to $200 $NVDA
AI Headline News KXCO Guide Nasdaq Shayne Heffernan Shayne Heffernan Shayne Heffernan on Investments Stocks Strategy Todays Trade Ideas US Stocks May 30, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
4.4kFollowersFollow
//

Stay informed with LiveTradingNews.com – your ultimate destination for timely and insightful updates on global markets, finance, and investment trends. Explore the latest news and analysis to empower your trading decisions.

Quick Link

  • About us
  • Advertise
  • Send us a tip!
  • Privacy Policy
  • Contact us

Top Categories

  • Knightsbridge Insights
  • Featured
  • Stocks
  • Shayne Heffernan
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Subscribe our newsletter for latest news around the world. Let's stay updated!

Live Trading NewsLive Trading News
Follow US
© 2025 LiveTradingNews - For The Traders, By The Traders – All Right Reserved By Knightsbridge Group
Welcome Back!

Sign in to your account

Register Lost your password?