This post will keep a running update of various cryptocurrency scams that are currently happening around the world. The first item you see below will be news about the most recent scam.
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Crypto Kid Had a $23,000-a-Month Condo. Then the Feds Came.
The “kid” was 19-year-old Stefan Qin, who was a math genius from Australia. He dropped out of college and started a hedge fund in New York. He told his prospective fund clients that he had developed a secret cryptocurrency trading method. Called Tenjin, the technique was to arbitrage currency prices worldwide and profit on the small differences in those prices. After a year in operation, he claimed to have returned over 500% profit to clients. After that news, new clients started to flock to his fund. According to the Feds, the reality was that Stefan had created a convincing Ponzi scheme that robbed over 100 clients of more than 90 million dollars. With the stolen funds, Stefan lived a lifestyle of the rich and famous. Stefan’s Ponzi cryptocurrency fund wasn’t the first and won’t be the last. Ponzi schemes claim to offer investors ridiculously high returns, and that offer should be a huge red flag for anyone considering an investment. But greed can interfere with the best judgment of many people. There are currently 100s of cryptocurrency funds worldwide, with plenty being run by college-aged “wiz-kids” like Stephan. So beware and be careful with your investments.
Read the full story and don’t let this happen to you.
ElectronRAT Malware steals private keys
New “ElectroRAT” trojan malware infects 1000s of Electron wallets. It affects all major operating systems: MacOS, Linux and Windows. Name name ElectroRAT comes from the fact that it infects Electron applications and RAT means Remote Access Tool. The RAT part is how it takes control of infected machines. It logs keystrokes, takes screen shots, and can download more software. The ultimate goal of this malware is to discover your wallet and private keys. A user is first infected by downloading compromised software from legitimate websites.
See more here: https://threatpost.com/electrorat-drains-cryptocurrency-wallet-funds-of-thousands/162705/
How To Check A Suspicious Address
Twitter Accounts Hacked – Followers Scammed
EOS Exit Scam
From Decrypt.co, 04/23/2020: potential exit scam has struck the EOS community, a report revealed on Monday. A Chinese digital wallet dubbed “EOS Ecosystem” disappeared, taking with it an estimated $52 million in customer funds.
