cryptocurrency fraud
Crypto Tycoon Do Kwon Sentenced to 15 Years for $40 Billion Cryptocurrency Fraud
Dec 12, 2025 11:56 am CST
Former cryptocurrency mogul Do Kwon has been sentenced to 15 years in prison by a US court for orchestrating a $40 billion fraud through his company Terraform Labs. Once celebrated in Forbes' 30 under 30 Asia list, Kwon created the "stablecoin" TerraUSD before its catastrophic collapse in 2022. After an international manhunt, he was arrested in Montenegro and now faces additional fraud charges in South Korea.
Chinese Nationals Charged in Rs 1000 Crore HPZ Token Cryptocurrency Scam During Covid Pandemic
Dec 11, 2025 02:33 am CST
The CBI has charged two Chinese nationals in connection with the HPZ Token investment fraud, a sophisticated cryptocurrency scam that defrauded Indian citizens of over Rs 1000 crore during the Covid pandemic. The fraudsters operated through shell companies and payment aggregators to launder money, with the masterminds now fugitives operating from abroad. This case reveals part of a larger cyber crime network targeting vulnerable Indians through various financial scams.
Brutal Murder of Russian Crypto Millionaire: Roman Novak and Wife Tortured Before Death in UAE Desert
Dec 06, 2025 05:23 pm CST
Russian cryptocurrency millionaire Roman Novak and his wife Ana were tortured and murdered in Dubai after being lured to a meeting with supposed investors. The couple was dismembered and encased in concrete in the desert following a failed ransom plot to access their crypto assets. Six suspects have been arrested in connection with the crime, which may be linked to Novak's controversial past including a fraud conviction and his cryptocurrency application Fintopio that reportedly collected $500 million before suddenly shutting down.
Exposed: Hyderabad's Fake Call Centre Scam Targeting Australians Uncovered by Cyberabad Police
Nov 30, 2025 10:41 am CST
Cyberabad Police have dismantled a sophisticated fake call centre operation in Hyderabad that defrauded Australian citizens of approximately Rs 8-10 crore. The scammers, operating as "Ridge IT Solutions," used social engineering tactics to gain remote access to victims' computers, stealing funds through elaborate money laundering networks involving Australian bank accounts held by Indian nationals. Nine arrests have been made as authorities continue investigating international connections.
Chinese 'Cryptoqueen' Sentenced to 11 Years in UK for $6.6 Billion Bitcoin Fraud Scheme
Nov 12, 2025 05:16 pm CST
Zhimin Qian, dubbed the "cryptoqueen," has been sentenced to over 11 years in prison by a UK court for orchestrating a massive $6.6 billion Bitcoin fraud that affected more than 128,000 victims in China. This case involved the UK's largest cryptocurrency seizure of 61,000 Bitcoin as Qian lived extravagantly across Europe before her April 2024 arrest.
Mumbai Businessman Loses Rs 58 Crore in Massive Digital Arrest Scam with International Connections
Nov 12, 2025 12:16 pm CST
Maharashtra Cyber Department uncovers an international network behind a Rs 58 crore digital arrest scam targeting a Mumbai businessman. The fraud, executed by scammers posing as CBI and ED officials, operated through cryptocurrency transactions with links to Hong Kong, China, and Indonesia. Authorities estimate similar schemes have generated over Rs 2,000 crore through victim intimidation across India.
Rs 58-Crore Digital Arrest Scam: International Money Trail Links to China, Hong Kong and Indonesia
Nov 10, 2025 07:34 pm CST
Maharashtra Cyber Police have uncovered international connections in a Rs 58 crore digital arrest scam, tracing cryptocurrency transactions to China, Hong Kong, and Indonesia. The sophisticated operation, which defrauded a 72-year-old Mumbai businessman through fake Enforcement Directorate calls, is part of a larger Rs 2,000 crore fraud network targeting Indian citizens. Authorities have arrested 26 individuals and are working with foreign agencies to track the laundered funds.
Chinese "Goddess of Wealth" Facing 14-Year Prison Sentence Over Historic $6 Billion Bitcoin Fraud Case
Nov 10, 2025 12:45 pm CST
Chinese businesswoman Zhimin Qian, nicknamed the "goddess of wealth," faces up to 14 years in prison after UK authorities seized over $6 billion in Bitcoin tied to a massive fraud scheme that victimized 128,000 people. After fleeing China in 2018, she attempted to launder proceeds through luxury property purchases before her arrest in 2024, marking the largest cryptocurrency seizure in history.
Gujarat Man Arrested in Rs 10 Crore Cross-Border Cryptocurrency Fraud Operation Linked to Pakistan
Nov 09, 2025 02:15 am CST
A Surat resident has been arrested for facilitating the transfer of Rs 10 crore to a Pakistan-based cryptocurrency wallet, exposing a sophisticated cybercrime network. The operation involved converting funds to USDT cryptocurrency through multiple mule accounts, with connections to over 386 fraud cases across India. Gujarat's CID-Crime investigation revealed a complex money trail spanning seven layers of transactions with links to international criminal networks.
MIT Brothers' $25 Million Crypto Case Ends in Mistrial: Ethereum Sandwich Attack Controversy Explained
Nov 08, 2025 10:33 am CST
A federal judge declared a mistrial in the high-profile cryptocurrency fraud case against MIT graduates James and Anton Peraire-Bueno, who were accused of stealing $25 million through Ethereum blockchain exploits. The case centered on controversial "sandwich attacks" in crypto trading, highlighting the challenges of applying traditional legal frameworks to emerging digital asset technologies. Jurors were unable to reach a unanimous verdict after an emotionally taxing three-week trial that divided the cryptocurrency community.