"Feeding Fraud: Crypto ATM Problem in Canada"

⚠️ That convenience store ATM could drain your life savings in minutes CNN investigation reveals Americans lost $240 million to crypto ATM scams in just six months of 2025 - double last year's pace. The average victim loses over $15,600, with elderly consumers representing 70%+ of transactions in some jurisdictions. How are scammers exploiting these machines to steal millions? 🚨 Authority impersonation: fake law enforcement or bank officials fabricate account breaches or legal crises, directing victims to "secure" funds through immediate crypto ATM deposits. 💣 Extortion schemes: criminals send threatening messages claiming compromising footage, demanding crypto ATM payments to prevent exposure. 🎯 Technical support fraud: fake alerts about system compromises guide panicked victims through transactions under the guise of account protection. 🔄 Debt collection scams: fabricated outstanding debts pressure victims into immediate crypto ATM settlements to avoid legal consequences. 💰 The hidden profit layer: crypto ATM companies charge 20-30% markups plus fees on these transactions, profiting substantially from fraud while aggressively fighting to keep seized funds and offering limited victim refunds. What makes these attacks devastatingly effective: scammers coach victims step-by-step through transactions while they're under psychological pressure, bypassing all warnings. Once cash converts to crypto, funds route through multiple obfuscation layers to offshore exchanges, making recovery difficult and expensive. The cross-border nature and weak AML frameworks in destination jurisdictions create recovery challenges that demand specialized forensic capabilities. The scale of these operations underscores why both preventive security intelligence and advanced forensic response are essential for protecting digital assets. 📖 Read the full CNN investigation: https://lnkd.in/d3FhGEgZ #CryptoInvestigations #BlockchainForensics #CryptoCompliance #Cybercrime #FinancialFraud

🚨 Crypto Scams are Growing — But So Are the Ways We Fight Back In today’s digital world, crypto scams are no longer fringe problems. Scammers are operating at scale impersonating executives, fabricating projects, and draining wallets with deceptive “investments.” But while technology powers these attacks, compassion and intelligence power the response. 🔧 How Cobra Intel Makes a Difference At Cobra Intel, we serve a broad spectrum of clients — crypto exchanges, DeFi platforms, fintechs, e-banks, family offices, law firms, and more — with a shared goal: protect, detect, and advise. (cobraintel.com) Here are some concrete ways we’re doing that: Early Detection of Bad Actors: We use AI‐powered forensic tools + human investigations to spot fake projects, phishing attempts, and fraudsters before they cause damage. Investigations into Losses: When funds are stolen or misused, we trace transactions, identify where they went, reconstruct networks, and help victims or affected parties recover what’s possible. Supporting Victims: It’s not enough to prevent; when scams happen, people need help. Cobra Intel works closely with law firms, family offices, and even individual victims to provide clean, verifiable intelligence — evidence that can be used in legal claims, insurance proceedings, or restitution efforts. Building Stronger Compliance & Trust: For fintechs, crypto exchanges, and digital banks, we help establish robust systems (identity assurance, risk matrices, auditing) so scams are harder to execute and easier to trace. 🌱 Why Supporting Victims Matters as Much as Prevention Healing & Trust: Every scam erodes faith in crypto & fintech. Helping victims rebuild — financially and reputationally — restores trust in the ecosystem. Precedent & Deterrence: When victims succeed in recovery or legal action due to strong evidence, it sends a message: bad actors will be held accountable. Learning from Cases: Victim cases reveal the weak points in processes, platforms, or regulation. Those lessons help us build stronger systems that protect everyone. 🔭 What We Aim For A world where crypto scams don’t just get caught — they get shut down at the root. Where victims don’t suffer in silence, and where justice is accessible. And where technology, legal process, and human empathy work together — not in silos — to make the digital finance space safer. If you are a victim of a crypto scam, or you know someone who is, please reach out. You are not alone. Cobra Intel is ready to support with investigations, asset tracing, and building cases. Because real impact isn’t just about stopping fraud — it's about helping people get back what they lost and rebuilding trust. #CryptoScams #FraudPrevention #VictimSupport #BlockchainSecurity Cobra Intel #RiskIntelligence #CryptoCompliance

Crypto Queen Busted: $6.7B Bitcoin Seizure Rocks Global Scam Case In the embedded video from ScamTV, you will hear a breaking news alert on one of the most shocking cryptocurrency fraud cases in history. Zhimin Qian, also known by her alias Yadi Zhang, has pleaded guilty in London to acquiring and possessing criminal property tied to a multi-billion-pound laundering operation. Authorities say Qian masterminded a fraudulent investment scheme in China between 2014 and 2017, convincing more than 128,000 victims to part with their life savings, retirement funds, and business capital. The stolen proceeds were quickly converted into Bitcoin, hidden behind an intricate web of shell companies, fake identities, and high-end property purchases across Europe. When UK investigators finally tracked her down in April 2024, they uncovered an unprecedented 61,000 bitcoins—valued at over £5 billion (approximately $6.7 billion USD). This represents the largest cryptocurrency seizure in British history. Evidence presented in court revealed that Qian used forged passports, multiple aliases, and a network of accomplices to conceal her movements. Her aide, Jian Wen, was previously convicted for helping launder the stolen funds through luxury London real estate. Prosecutors detailed how apartments, multimillion-pound homes, and other high-value assets were purchased in an attempt to “clean” the money, while victims back in China were left devastated and financially ruined. This case not only exposes the staggering scale of international financial crime but also highlights the vulnerabilities of digital currencies when exploited by organized fraud networks. The sheer size of the seizure has sent shockwaves through the global crypto community and reinforced the urgent need for stronger safeguards against money laundering and investment fraud. Read more about this story from major outlets: BBC Coverage: https://lnkd.in/gGKdUdpm The Guardian: https://lnkd.in/gxpUWHG4 Financial Times Reuters: https://lnkd.in/g522XrBj Bloomberg: https://lnkd.in/gYp7R6ge Don’t forget to like, share, and subscribe to ScamTV for the latest scam prevention alerts and real-world fraud investigations.

XXKK Exchange Introduces AI-Driven System for Crypto Fraud Prevention in India https://ow.ly/sj8w50X1quE #financialtechnology #Fintech #financial #finance #InsurTech #FintechNews #AIinFinance

In 2025 alone, global AML fines are projected to exceed $6 billion, with regulators tightening their grip across banking, fintech, and crypto sectors. Recent RBI actions penalized five cooperative banks for KYC lapses, cyber security gaps, and failure to upload records to CKYCR—fines ranged from ₹50,000 to ₹10 lakh.| What are you thinking?? upgrade yourself... #ACAMS #ANTIMONEYLAUNDERING #ANTIFINANCIALCRIME#KYC #AML #RELIX #RELIXAMLKYCACADEMY #AMLKYCACADEMY #CAMS #CERTIFIEDANTIMONEYLAUNDERINGSPECIALIST #FRAUD #FINCRIME #FINCEN #FIU#FINTRACK #BAFIN #MAS #BENEFECIALOWNER #TRUST #KNOWYOURCUSTOMER #NAMESCREENING #SANCTIONS #TRANSACTIONMONITORING #FATF #EGMONT #FAINANCIALACTIONTASKFORCE

A fraudster opens 47 bank accounts using one stolen identity. Traditional systems catch it three months later. Blockchain would have stopped it at account two. Financial fraud isn't a detection problem. It's an architecture problem. Why Current Systems Fail Centralized databases store your identity at every institution. Bank A is unaware of what occurs at Bank B. Fraudsters exploit these disconnected silos, creating synthetic identities that pass individual checks but shouldn't exist across the network. 𝗧𝗵𝗲 𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻 𝗔𝗿𝗰𝗵𝗶𝘁𝗲𝗰𝘁𝘂𝗿𝗲 𝗔𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲 Immutable verification: Once your identity is blockchain-verified, no one can alter the record. Fraudsters can't retroactively manipulate history. 𝗡𝗲𝘁𝘄𝗼𝗿𝗸-𝘄𝗶𝗱𝗲 𝗱𝗲𝘁𝗲𝗰𝘁𝗶𝗼𝗻:  A suspicious pattern at one institution triggers instant alerts across the network, without sharing private data. The 47-account scheme dies at attempt two. 𝗣𝗿𝗶𝘃𝗮𝗰𝘆 𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗲𝘅𝗽𝗼𝘀𝘂𝗿𝗲:  Users can verify their age without disclosing their birthdates. Verify creditworthiness without exposing financial details. Institutions confirm what they need without possessing what they don't. 𝗧𝗵𝗲 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗖𝗮𝘁𝗰𝗵 𝗨𝗽: One KYC verification works everywhere. Streamlined onboarding process without unnecessary checks. No centralized data honeypot means no catastrophic breach liability. Here, we bridge the gap between blockchain’s potential and the realities of regulated finance. Our approach aligns cryptographic security, compliance and user experience into one architecture that actually works in production. Because real fraud prevention isn’t about catching bad actors - it’s about designing systems where they can’t exist in the first place. #blockchain #adamosoftware #fintech #fraudprevention --------------------------------------------  𝗔𝗱𝗮𝗺𝗼 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲 – 𝗣𝗿𝗲𝗺𝗶𝗲𝗿 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝗖𝗼𝗺𝗽𝗮𝗻𝘆 𝗶𝗻 𝗩𝗶𝗲𝘁𝗻𝗮𝗺  📲 (+84) 373 11 44 88  📌16B Floor, Song Da Tower, 18 Pham Hung, Tu Liem, Ha Noi, Vietnam

One of the topics I constantly follow - besides Web3 payments (crypto, stablecoins, etc.) - is detecting, stopping, and preventing financial crime. And here, digital identity plays a crucial role. That’s why I tuned into Sumsub’s webinar “Broken identity systems: how fraudsters exploit them—and how to fix it.” It left me with plenty of food for thought: We already have the technology to fight fraud (cryptography, digital signatures can even counter deepfakes); the real challenge is figuring out how and when to use it. I often think of identity platforms as tools to identify or authenticate someone. But the focus should actually be more on entitlements - what someone is allowed to do - achievable through selective disclosures. For example, proving I’m over 18 or entitled to perform a task, without revealing everything about myself (especially if I were, say, an undercover agent 😉). Identity schemes are cultural. Aadhaar works in India, but its model might not apply to Europe. Still, there’s a lot we can learn from it. Building an interoperable, effective, and efficient identity layer requires collaboration between public authorities (for trust), private players (for execution), and standards bodies (for interoperability). And yes - DeFi, crypto, and stablecoins are shaping the next payment infrastructure. The main users of stablecoins will soon be AI agents, so the real challenge becomes designing a cleaner, more efficient market infrastructure that can handle AI identity - not just the identity of the humans behind them. And when you have experts like David Birch mixing insights with humor, you don’t even notice how fast the time flies 🙂 #kyc #digitalidentity #DeFi #AI #Agents #deepfakes #cryptography https://lnkd.in/e49FsjFr

𝗧𝗵𝗲 $𝟭𝟱 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 𝗖𝗿𝘆𝗽𝘁𝗼 𝗦𝗰𝗮𝗺 𝗘𝘅𝗽𝗼𝘀𝗶𝗻𝗴 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗖𝗿𝗶𝗺𝗲'𝘀 𝗡𝗲𝘄 𝗙𝗿𝗼𝗻𝘁𝗶𝗲𝗿 The DOJ’s indictment of Chen Zhi, chairman of Cambodia’s Prince Group, marks the largest U.S. cryptocurrency seizure—$15 billion—targeting forced labor networks running “pig butchering” scams. These schemes, named for their methodical “grooming” of victims, exploit human trafficking victims in Southeast Asia, who are coerced into scamming others. In 2024, Americans lost at least $10 billion to such operations (a 66% increase from 2023), with investment fraud alone causing $5.8 billion in reported losses. Individual victims often lose hundreds of thousands, with some losing up to $2 million. The scale is staggering: shell companies in U.S. cities like Brooklyn and Queens facilitated over $18 million in losses for 250 victims. Pig butchering schemes operate through weeks or months of psychological manipulation, steering victims to fraudulent crypto platforms. Funds flow through legitimate banking systems before vanishing into global networks. Traditional AML systems, which flag transaction velocity or unusual patterns, struggle to detect these voluntary transfers. The red flags lie in relationship dynamics, communication history, and behavioral context—data ignored by most systems. Advanced analytics, cross-channel monitoring, and vendor diligence on crypto platforms are critical. Proactive customer education is equally vital. The human cost is profound: victims lose savings while trafficked workers endure modern slavery. Despite DOJ enforcement, the $10 billion in U.S. losses alone reveals systemic gaps. Financial institutions must ask: Can systems catch fraud that looks legitimate? Are staff trained to spot grooming patterns, not just transaction anomalies? At Ankura, we help institutions combat these threats with AI-driven tools, expert analysis, and strategies to detect hidden patterns. Strengthening defenses against evolving fraud requires innovation and vigilance. https://lnkd.in/gCyZt7Eu #FinancialCrime #AML #PigButchering #CryptoFraud #HumanTrafficking #Compliance #RiskManagement

🚨 US DOJ Seizes $15 B in Bitcoin — World’s Largest Crypto Scam Crackdown! 💰 Can India Mount a Similar Response? The U.S. Department of Justice (DOJ), together with OFAC, FinCEN, and UK regulators, has exposed a massive Southeast Asian “pig-butchering” crypto scam network run by the Prince Group Transnational Criminal Organization (TCO) and its chairman Chen Zhi (“Vincent”). https://lnkd.in/gAZb2ABy Key facts: DOJ filed a civil forfeiture for 127,000 BTC (~$15 B) linked to global fraud and money laundering. Huione Group, a key laundering hub, processed $98 B in crypto inflows, including $4 B+ illicit — and is now cut off from the U.S. financial system under the Patriot Act §311. The group ran a Bitcoin mining arm (Warp Data Technology) in Laos to mix clean and dirty funds. 146 individuals & entities have been sanctioned by OFAC/OFSI, including Byex Exchange. The crimes involve romance-investment scams, forced labor, extortion, and even murder inside Cambodian scam compounds. --- 🌍 Why It Matters This case proves that crypto crime can be traced, seized, and dismantled through international coordination and on-chain intelligence. It’s a blueprint for tackling transnational financial cybercrime. --- 🇮🇳 Lessons for India With Indians already losing billions of rupees to similar scams, agencies like ED, CBI, and MHA must: 1️⃣ Strengthen cross-border cooperation 2️⃣ Use blockchain forensics for real-time tracing 3️⃣ Empower rapid crypto-asset freezing 4️⃣ Drive public awareness on “too-good-to-be-true” investments --- 💬 If the U.S. can trace and seize $15 B in Bitcoin, India can too — with the right tools, talent, and urgency. #CryptoFraud #Fintech #AML #CyberCrime #BlockchainSecurity #India

🤖💸 AI + crypto are turbo-charging classic scams — here’s how to stay a step ahead Excellent explainer by Rahul Telang, PhD (Carnegie Mellon University) on The Conversation U.S. breaking down how criminals now blend AI-written messages, deepfake voices, crypto payments, and social engineering to steal savings. 👉 Smart, practical read: https://lnkd.in/eEyp9-S8 🚩 Red flags Telang highlights (in plain English): ➙Unsolicited outreach + urgency — “act now,” secrecy, or threats. ➙Impersonation with AI polish — emails/texts/voices that sound exactly like your bank or a loved one. ➙Payment detours — requests to move money via crypto, gift cards, or a “safe” account. ➙Remote-access or code requests — links, apps, or one-time passcodes “to verify.” 🔥 How Fort Knox blocks the ‘last mile’ of theft: ➀ Closed-Loop Protection™ — transfers only to/from the same verified external account (so “new safe account” instructions fail). ➁ Lockdown™ Mode — one tap freezes all in/out transfers the moment something feels off. ➂ No instant withdrawals — every withdrawal pends 2 business days so you can review and stop coerced moves. ➃ Active Account Cloak™ — account numbers never exposed and aren’t compatible with external payment rails. ➄ Biometric authentication (CLEAR®) + Security Zones — add YubiKey / authenticator for per-action controls. ➅ .Bank domain + post-quantum encryption — stronger verification today, future-resistant protection tomorrow. 👏 Kudos to Rahul Telang for a clear, research-grounded walkthrough of modern scam mechanics — it’s the kind of guidance consumers and FIs need right now. 🔐 Protect your savings with Fort Knox High-Security Savings. Learn more in the comments. Fort Knox is a division of Austin Capital Bank, Member FDIC. #FraudPrevention #Cybersecurity #Deepfakes #CryptoScams #BankingInnovation #FortKnox #HighSecuritySavings