European Commission Opposes Crypto Fraud Compensation Fund: Victims Say Commission Cozying up to the Industry

The European Commission (EC) is opposing the creation of the crypto crime victim superfund to be financed with $0.0001 per dollar on all cryptocurrency transactions occurring within the EU.

Telecoms protocol from 1975 exploited to target 20 crypto executives

At least 20 crypto executives and customers of an Israeli telecommunications company were targeted in a sophisticated SS7 attack last month. Hackers compromised the Telegram messenger and email accounts of multiple cryptocurrency executives last month by exploiting a vulnerability in a decades old protocol.  The fraudsters are believed to have been trying to intercept two-factor authentication codes of victims in an attack on Israel-based telecommunications provider Partner Communications Company, formerly known as Orange Israel. The attacks are currently being investigated by Israel’s National Cyber Security Authority, and national intelligence agency Mossad. According to cybersecurity publication Bleeping Computer, the devices of at least 20 Partner clients were compromised.

$1.7 Billion Rehabilitation Plan for Mt. Gox Hack Victims Shelved Until December

Victims of the now non-defunct crypto exchange Mt.

Mt. Gox’s $1.5 Billion Rehabilitation Plan Delayed Again

The infamous crypto exchange is supposed to return over 150,000 Bitcoin to victims of the 2014 hack.

Robinhood Traders, Including Bitcoin Holders, Left in the Lurch Following Theft: Report

The popular personal investing platform did not do enough to help targeted customers, victims claim.

OFAC Warns That Firms Helping Victims With Ransomware Payouts Risk Violating Its Rules

If you assist a ransomware victim in paying out to cyber attackers, you could end up facing civil penalties, OFAC says.

US Treasury warns crypto firms not to reimburse unknown ransomware victims

Malware payouts from insurance companies pose a threat to US national security. Two offices of the US Department of the Treasury have issued advisories on ransomware payouts, which they say pose a threat to national security.

Onecoin Victims Join Petition Seeking Establishment of European Crypto Fraud Compensation Fund

Onecoin victims have joined a consortium that wants the European Parliament to consider a petition seeking the establishment of a compensation fund.

SEC Seeks Trial of Swedish National Over Alleged Fraud That Took $3.5M in Crypto

The man is alleged to have fleeced 2,200 victims in the US and 45 other countries, netting $3.5 million via payments in bitcoin and other digital assets.

Maker Votes to Not Compensate Black Thursday Victims

The decentralized court has ruled, and MakerDAO traders who got wiped out last March won't be seeing a penny of that money back.

European Union Parliament Considers Petition for Crypto Fraud Victims Fund

European Union Parliament is considering a petition from a consortium of individuals and companies to establish a restitution fund for victims of crypto-fraud.

Makerdao Vote to Not Compensate Black Thursday Victims Receives Harsh Criticism

Large Makerdao holders decided not to compensate the victims that were liquidated during the unexpected flash crash that took place on March 12, otherwise known as ‘Black Thursday.’ An aggregate total of 38 votes was cast and more than 65% of the governance portal participants voted for zero compensation.

Blockchain Bites: MakerDAO’s Do or Dai Moment, Bitcoin in Africa, Dollar Trends Up

MakerDAO has voted not to compensate victims of the "Black Thursday" flash crash, a former Pantera partner is launching a new crypto-focused fund and bitcoin may be headed to the doldrums as the US dollar rises.

Member of Dark Overlord Crypto Hacking Group Pleads Guilty to Ransom Attacks

UK national Nathan Wyatt was found guilty of multiple charges this week after extracting personal information from victims while demanding a Bitcoin ransom.

Member of Bitcoin Ransom Gang “The Dark Overlord” Arrested

A UK national plead guilty in US courts this week in connection with a ransomware group that demanded Bitcoin from victims.

Hacked Cryptopia Gets One Step Closer to Returning Funds

The liquidator of New Zealand crypto exchange Cryptopia plans to open a portal for the victims of the hack by the end of the year.

UJ DOJ Indicted Two Russians For Duping $17M From Crypto Exchanges and Customers

Two Russian nationals are indicted for duping nearly $17 million worth of cryptocurrencies from exchanges and their victims.

US ramps up enforcement actions against global crypto scams

The US Justice Department has announced sanctions against two Russians, and the arrest of two Malaysians, over separate seven-figure crypto scams. The United States has taken actions against international hackers responsible for the theft of millions of dollars in cryptocurrency. On September 16, the US Department of Justice, US Department of Homeland Security, and the US The Department of the Treasury’s Office of Foreign Assets Control announced it has imposed sanctions on two Russian nationals who used a sophistication phishing campaign to steal at least $16.8 million from the customers of three virtual currency exchanges in 2017 and 2018 — including two based in the United States. The pair, Danil Potekhin and Dmitrii Karasavidi, created multiple websites impersonating legitimate crypto exchanges to steal the login information for unsuspecting victims, before using accounts verified with stolen identities to move the crypto assets through various intermediaries and execute pump and dump schemes targeting altcoins with low market capitalization.

6 Members of the Multi-Billion Dollar Plustoken Scam Charged With Fraud in China

Following the arrest of 109 accused members of the $6 billion Ponzi scheme called Plustoken, six alleged members of the team were prosecuted according to a court filing submitted on Monday.