China News by Thebittimes.Com

Alleged cryptocurrency scammer Moshe Hogeg has successfully run another project into the ground, raising more investor concerns that they’ve been defrauded, as he awaits a monumental decision that could send him to prison. Hogeg co-founded cryptocurrency Tomi in 2023, with a supposed vision to “increase digital freedom and build a more democratic and decentralized internet.” Launched at $1.15 in January of that year, the token surged to an all-time high of $6.59 by June. However, at press time, $TOMI trades for just $0.05 , its market cap having shrunk from $350 million at peak to just $26.8 million. This downward spiral has seriously peeved investors, who at best accuse Tomi of failing to provide customer safeguards and at worse feel that they’re being taken for a ride. Tomi launched at $1.15 in January 2023 and soon surged to an all-time high of $6.59. While bitcoin and ether prices are pumping, $TOMI has stayed the same — a huge red flag that the f...

Loopring’s X account remained compromised at press time, with the exploiters publishing multiple malicious links promoting a fake LRC airdrop. The X page of Ethereum layer-2 network Loopring was compromised on Nov. 20, allowing phishing scammers to publish at least 10 tweets containing harmful links to an illegitimate airdrop for LRC, the project’s native token.  According to blockchain security firm CertiK, the links redirected users to a known wallet drainer connected to other phishing campaigns. The exploit lasted all day and the Loopring team was yet to regain control of their account as of press time.  It’s unknown if LRC users or would-be airdrop claimants have suffered any losses. Loopring had over $98 million in total value locked when the project’s X account was hijacked, DefiLlama data showed. #CertiKSkynetAlert @loopringorg X account has been compromised and is posting phishing links The sites posted contain a known wallet drainer. Multiple phishing ...

A SlowMist investigation has exposed the manipulation of Google search results by phishing ads associated with Friend.tech, the decentralized social media platform. This has prompted increasing scrutiny of Google’s response to review inquiries as concerns about deceptive ads continue to mount. Raising concerns In the Oct. 13 post, SlowMist shares word of caution to users when engaging with sponsored ads on Google, stating that these paid promotions are regrettably exploited by scammers as a means to deceive and exploit unsuspecting users. Please exercise caution when interacting with sponsored ads on Google. It's an unfortunate reality that scammers frequently use these paid promotions as a way to deceive and target unsuspecting users. pic.twitter.com/eXZkOEXY1Y — SlowMist (@SlowMist_Team) October 13, 2023 In a follow up post from MistTrack, a crypto tracking and compliance platform built by SlowMist, it was reported that the pilfered funds were routed and th...

A disbarred attorney has been ordered to pay $243 million for his role in a student loan Scam and for concealing crypto assets from the government during its investigation. Kaine Wen served as general counsel for Consumer Advocacy Group, a company that did business under the name Premier Student Loan Center. The firm would call Americans across the country and convince them to seek student loan debt relief — but charged upfront service and legal fees. Wen was suspended by the State Bar Court of California in 2018 over his role at Consumer Advocacy Group. He admitted to illegally practicing law outside of California, collecting legal fees in jurisdictions he wasn’t allowed to, and for sharing legal fees with Consumer Advocacy Group. The firm was subsequently sued in 2019 by the US Consumer Financial Protection Bureau (CFPB) and the states of North Carolina, California, and Minnesota. The plaintiffs claimed that the company and its various entities collected millions in unlawful f...