Cryptocurrency News Today TheBitTimes.com

On Tuesday, the X account of UK MP Lucy Powell was hacked to promote a cryptocurrency scam. This saw her become the seventh MP to have their account hacked since Elon Musk acquired Twitter three years ago. Powell is the leader of the House of Commons, and her account was used to promote a fraudulent “House of Commons Coin” under the ticker “$HCC.”  A CoinShares senior research associate told the BBC that the token saw 34 transactions and likely made a profit of less than £300 ($400). In 2024, four UK MPs were hacked to promote various crypto scams, including the Green Party’s Deputy Leader and Welsh Labour MP Chris Elmore. The only MP who’s account was hacked for reasons other than to promote a crypto scam was Chris Heaton-Harris, whose account was used instead to share offensive remarks .  You can see all of the UK MPs hacked since Elon Musk’s X acquisition here. UK politician Zack Polanski hacked on X to promote crypto scam Read more: Crypto...

Thailand’s government cut off the electricity supply across the Myanmar-Thailand border on Wednesday in an effort to disrupt crypto scam centers located in the region and appease pressure from China. Bangkok Post reports that after a National Security Council meeting, Thailand’s Deputy Prime Minister Phutham Wechayachai announced that electricity, internet, and fuel supplies would be cut at 9am (ICT).  Five service providers in the Myawaddy, Payathonzu, and Tachilek regions of Myanmar were cut off today as planned.  One Chinese scam operation located in the KK Park compound in Myawaddy was linked to $100 million worth of Tether that was extorted in pig butchering scams. Last year 1,200 slaves were freed from the compound by Myanmar authorities. The criminal enterprises are often guarded by militias that have separated from the Karen National Liberation Army. Single Chinese ‘pig-butchering’ operation made $100M in USDT, report Read more: India disconnects 20M...

Fraudsters have created multiple fake accounts on X, impersonating crypto scam investigators CertiK and ZachXBT. Scammers are now cloning legitimate crypto investigators by impersonating them on X to defraud victims. Crypto sleuth ZachXBT has warned users in an X post on Nov. 15, saying a “large network of bot accounts” has started impersonating crypto detectives on the social network. As per ZachXBT’s calculations, scammers have stolen more than $300,000 worth of crypto within a few days. A large network of bot accounts impersonating users like myself on X/Twitter has resulted in $305k+ stolen over the past few days. They even tricked Dexerto into accidentally making an article/post promoting the scam. The scam worked by having impersonators post about a fake… pic.twitter.com/lde4CXHjK5 — ZachXBT (@zachxbt) November 15, 2023 ZachXBT also warned that unsuspecting victims might click a phishing link, allowing scammers to drain their assets from their no...

According to CZ, the perpetrator was stopped before he could siphon up to $20 million from the leading cryptocurrency exchange. These scammers have adopted a new method of falsifying details in a way that is very convincing to unsuspecting customers. advertisement Cybercriminals Attempts Different Crypto Scam Tricks Before now, one of the strategies used by crypto traders to verify any wallet address before initiating a transfer is by confirming that the starting and ending letters of their wallet addresses are the same.  Most of the time, the middle part of the addresses are hidden and replaced with “…” to make the UI look better. However, CZ explained that hackers now generate wallet addresses in such a way that the same starting and ending letters are the same. I want to share this (luckily) unsuccessful, but very clever and close scam incident from yesterday 👇. Saved $20m. Hope it may also save you one day. ...