By the seventh day of the year 2025, law enforcement agencies across different regions have successfully arrested individuals operating scams involving cryptocurrencies, which had been aimed at a significant number of prospective victims.
On the 5th of January, the Vietnamese authorities apprehended four suspects for their alleged role in a cryptocurrency mining fraud. This scheme is believed to have swindled over 4 billion Vietnamese dong (approximately $157,300) from more than 200 unsuspecting victims, as reported by the newspaper VnExpress.
Under the leadership of Tran Minh Quang, it’s claimed that a team created a deceptive cryptocurrency mining site known as BitMiner, which had a domain based in Singapore. Posing as a crypto-mining firm situated in Dubai, this group publicized extravagant returns on investments that were implausible.
The report states that the victims were offered questionable cryptocurrency mining packages along with instructional resources.
As an analyst, I’d like to share a recent alert issued by the Springfield, Massachusetts police department regarding an increase in Bitcoin (BTC) and other cryptocurrency-related frauds. The warning specifically highlighted crypto ATM scams as a significant concern, emphasizing that these scammers employ various tactics to deceive unsuspecting citizens.
“The scams have many different variations, but one in particular directs a person to a cryptocurrency machine to insert and send money to the scammer. If you receive a phone call with someone demanding a payment in cryptocurrency or Bitcoin, please hang up.”
Beyond tackling crypto fraud, authorities are also vigorously pursuing cases related to AI crimes that involve deepfake technology.
On the 5th of January, a band of 31 con artists, primarily university students, were apprehended by Hong Kong authorities. These individuals had been deceiving victims from various countries and managing to swindle an estimated 34 million Hong Kong dollars ($4.37 million) through the use of sophisticated AI deepfakes.
The syndicate, as per a report by Radio Television Hong Kong (RTHK), has been active for over a year. The majority of its victims hail from countries other than Hong Kong, such as Taiwan, Singapore, Malaysia, and the United States.
According to Fung Pui-kei, head of the Commercial Crime Bureau, here’s what was stated: In his own words, he indicated that… or Simply put, as expressed by Fung Pui-kei, the superintendent of the Commercial Crime Bureau, he conveyed that…
“They (scammers) also make use of the new technology, like AI face-swapping technology, to [pretend] to be some good-looking ladies and gentlemen to induce potential victims, gain their trust and develop into romance relationships in order to commence the romance scams.”
In a recent operation, Hong Kong officials conducted searches at two different sites and confiscated approximately HKD 10 million in cash, designer handbags, and high-end timepieces.
While five criminals were charged with conspiracy to defraud, others were released on bail.
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2025-01-06 13:31