Scams

The Department of Homeland Security has conducted a months-long investigation into Beijing-based Bitcoin mining equipment manufacturer Bitmain, examining whether its devices pose national security threats. The probe, code-named "Operation Red Sunset," includes inspections of seized hardware at US ports and assessments of potential remote manipulation capabilities, according to reports.

The UK's Serious Fraud Office arrested two individuals in connection with the alleged $28 million collapse of Basis Markets. The decentralized hedge-fund project raised funds through NFT and token sales in 2021–2022 before ceasing operations without delivering a product. No formal charges have been filed, and the investigation remains ongoing.

The UK Serious Fraud Office arrested two individuals in connection with the collapse of Basis Markets, a cryptocurrency fund that allegedly misappropriated $28 million from investors. A man in his 40s and another in his 30s were detained in south London and West Yorkshire on suspicion of fraud and money laundering. The arrests represent the SFO's first major cryptocurrency investigation, according to Director Nick Ephgrave.

India's Enforcement Directorate has frozen ₹8.46 crore held across 92 bank accounts, including balances at CoinDCX and several cryptocurrency wallets, as part of an investigation into a ₹285 crore cyber-fraud network. The probe identified fraudulent apps and platforms that used task-based earning schemes to lure victims before blocking their withdrawals.

GANA Payment, a BNB Smart Chain project, lost $3.1 million after attackers gained unauthorized contract control and manipulated staking rewards. The attacker laundered 1,140 BNB ($1.04 million) and 346.8 ETH ($1.05 million) through Tornado Cash, with approximately $1 million remaining on Ethereum. Blockchain security firm HashDit identified the vulnerability as malicious transfer of contract ownership, enabling extraction of excess GANA tokens.

GANA Payment, a decentralized payment platform on Binance Smart Chain, lost over $3.1 million in a security breach on November 20, 2025, at approximately 5:00 AM UTC. The attacker manipulated the project's smart contract to drain tokens, then laundered 1,140 BNB (approximately $1.04 million) and 346 ETH ($1.05 million) through Tornado Cash across BSC and Ethereum networks. The exploit caused GANA's token value to drop over 90%.

William Lonergan Hill, chief technology officer and co-founder of Samourai Wallet, received a four-year federal prison sentence on November 19 for operating an unlicensed money-transmitting business. The platform's Whirlpool and Ricochet services processed over 80,000 BTC valued above $2 billion, including more than $237 million linked to drug trafficking, darknet markets, and fraud schemes, according to the U.S. Attorney's Office for the Southern District of New York. Co-founder Keonne Rodriguez received a five-year sentence on November 6, and both defendants forfeited more than $6.3 million in fees.

GANA Payment suffered a security exploit on BNB Smart Chain resulting in losses exceeding $3.1 million. The attacker moved stolen funds through Tornado Cash on both BSC and Ethereum networks. The GANA token price dropped more than 90% following the incident.

World Liberty Financial disclosed that a subset of user wallets was compromised through phishing attacks before its token went live. The project attributed the breach to third-party security lapses rather than flaws in its own platform. Affected accounts have been frozen while the project implements a KYC-based recovery process.

World Liberty Financial burned 166.667 million WLFI tokens valued at $22.14 million from compromised wallets and transferred them to secure recovery addresses. The emergency action followed phishing attacks that affected a limited number of user accounts before the platform's official launch, according to Arkham analyst data.