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Global crackdowns uncover major crypto and AI scams across regions

Global crackdowns uncover major crypto and AI scams across regions

GrafaGrafa2025/01/07 04:40
By:Liezl Gambe

Authorities worldwide are intensifying their efforts to dismantle cryptocurrency and artificial intelligence-related fraud schemes.

On January 5, Vietnamese law enforcement arrested four individuals involved in a large-scale cryptocurrency mining scam.

The group allegedly defrauded over 200 victims, stealing a total of 4 billion Vietnamese dong (approximately $157,300).

The fraudsters, led by Tran Minh Quang, operated a fake mining platform, BitMiner, which claimed to be based in Dubai but was actually registered in Singapore.

They sold misleading mining packages and associated educational materials to potential investors.

In Springfield, Massachusetts, local police have warned citizens about a surge in crypto scams, particularly those involving Bitcoin (CRYPTO:BTC) ATMs.

“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,” said the Springfield Police Department.

They advised residents to hang up on calls demanding cryptocurrency payments, a common tactic used by scammers.

Simultaneously, Hong Kong authorities arrested 31 individuals, most of them university students, on January 5 for defrauding victims using AI-generated deepfakes.

The group managed to steal 34 million Hong Kong dollars (about $4.37 million) by exploiting AI face-swapping technology.

They targeted victims across various countries, including Taiwan, Singapore, Malaysia, and the United States, by impersonating attractive individuals in romance scams.

“They 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,” stated Fung Pui-kei, superintendent of the Commercial Crime Bureau.

The Hong Kong police conducted raids on two locations, seizing 10 million Hong Kong dollars worth of cash, luxury watches, and handbags.

Five individuals have been charged with conspiracy to defraud.

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