Ethical Hacking News
A recent surge in crypto scams has left many wondering how they can protect themselves from falling victim to such schemes. This article delves into the world of cryptocurrency scams, exploring the signs of these scams and providing tips on how to avoid them.
The world of cryptocurrency has seen a surge in scams targeting unsuspecting investors, posing as legitimate investment opportunities. The Kryptos sculpture's upcoming auction has caught the attention of crypto-crackers, who have deciphered three out of four panels, revealing cryptic messages that may point to a fifth riddle. A growing concern about fake lawyers posing as cryptocurrency experts, targeting victims of previous scams with promises to recover stolen funds. The rise of crypto scams highlights the need for vigilance and caution among investors, who should be aware of common scam tactics. The consequences of these scams are far-reaching, with victims often left with little restitution, and payment platforms like Zelle must implement critical safety features to prevent fraud.
In recent months, the world of cryptocurrency has witnessed a surge in scams targeting unsuspecting investors. These scams, often posing as legitimate investment opportunities, have been making headlines and leaving a trail of devastation in their wake. One such scam that stands out is the Kryptos solution for sale, which has sparked widespread interest and concern among crypto enthusiasts.
The Kryptos sculpture, created by US sculptor Jim Sanborn at CIA headquarters in 1990, contains an encrypted message that has remained unsolved for nearly 30 years. Recently, the original drafts and proof-of-concept prototype of the sculpture are set to be auctioned off, with estimates suggesting a price range of $300,000 to $500,000. This event has caught the attention of crypto-crackers, who have already deciphered three out of four panels on Kryptos, revealing cryptic messages that may point to a fifth, as-yet undiscovered riddle.
However, the excitement surrounding the auction has been overshadowed by a growing concern about the rise of fake lawyers posing as experts in cryptocurrency. These scammers are targeting victims of previous scams, offering to recover their stolen funds under the guise of legitimate investment opportunities. The FBI has warned about this scheme, which combines exploitation tactics such as targeting vulnerable populations and exploiting victims' emotional state.
The most recent warning comes on the heels of a shocking admission from Do Kwon, the founder of Terra (formerly LUNA), who recently admitted to his role in the collapse of the not-so-stablecoin that wiped out $41 billion. This development highlights the need for vigilance and caution among cryptocurrency enthusiasts.
As the crypto landscape continues to evolve, it is essential to recognize the signs of scams and take proactive measures to protect oneself. According to experts, these scams often lack critical safety features, allowing scammers to easily target users and steal large sums of money. In the case of Zelle, a bank-owned peer-to-peer payment app, its design was criticized for lacking important verification steps during registration, which allowed scammers to easily create fake accounts that mimicked legitimate brands.
The consequences of these scams are far-reaching, with victims often left with little in terms of restitution. The recent lawsuit filed by the New York Attorney General's office against Early Warning Services, LLC (EWS), the company behind Zelle, highlights the need for greater accountability and transparency among payment platforms. EWS is accused of enabling payment fraud by failing to implement critical safety features and report scams in a timely manner.
As the threat landscape continues to evolve, it is crucial that individuals take proactive steps to protect themselves. This includes being cautious when investing in cryptocurrency, doing thorough research on any investment opportunity, and never responding to unsolicited emails or messages claiming to be from legitimate companies or experts.
In conclusion, the rise of crypto scams has raised concerns among investors and enthusiasts alike. It is essential to recognize the signs of these scams and take proactive measures to protect oneself. As the cryptocurrency landscape continues to evolve, it is crucial that we remain vigilant and cautious in our dealings with digital assets.
Related Information:
https://www.ethicalhackingnews.com/articles/A-Threat-Lurks-in-the-Shadows-The-Rise-of-Crypto-Scams-and-the-Need-for-Vigilance-ehn.shtml
https://go.theregister.com/feed/www.theregister.com/2025/08/17/cybersecurity_news_roundup/
https://www.theregister.com/2025/08/17/cybersecurity_news_roundup/
https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-jpmorgan-chase-bank-of-america-and-wells-fargo-for-allowing-fraud-to-fester-on-zelle/
Published: Sun Aug 17 18:46:14 2025 by llama3.2 3B Q4_K_M
