Scams

Stay updated on scams in the crypto space including phishing, pump and dump schemes, rug pulls, fake ICOs, airdrop traps, and memecoin fraud. From wallets and DeFi to NFTs and DEXs, learn about the risks and tactics used by scammers.

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Hannah Collymore

NY prosecutors challenge GENIUS Act, allege profits from frozen stablecoin funds

New York Attorney General Letitia James and Manhattan District Attorney Alvin Bragg sent a letter to Congressional leaders criticizing the GENIUS Act. According to CNN, they contend the law lets issuers keep interest on assets backing flagged coins rather than prioritizing restitution; Chainalysis reports illicit crypto flows hit $154 billion in 2025 with stablecoins at 84%.

CertiK: $370.3M Lost to Crypto Theft in January 2026, Highest in 11 Months

CertiK reported $370.3 million in digital assets were stolen via exploits and scams in January 2026, the highest monthly total in 11 months. Phishing accounted for $311.3 million, including a single $284 million social engineering loss, while PeckShield tracked 16 hacks totaling $86 million in the same month.

Sujha Sundararajan

CrossCurve Bridge Exploit on February 1, 2026: $3M Lost Across Multiple Networks

On February 1, 2026, CrossCurve warned on X that its cross-chain bridge was under attack due to a smart contract vulnerability. The team reported about $3 million in losses across several networks, while Defimon Alerts described a spoofed cross-chain message path and CrossCurve offered a 10% white-hat bounty with a 72-hour deadline for fund returns.

OFAC blacklists UK exchanges Zedcex and Zedxion over Iran-linked transactions

On Friday, the U.S. Treasury’s OFAC blacklisted UK-registered exchanges Zedcex and Zedxion for facilitating Iran’s Islamic Revolutionary Guard Corps transactions. The move also put Iranian financier Babak Morteza Zanjani back under sanctions after his 2024 death sentence commutation. Treasury said Americans are prohibited from dealing with the newly sanctioned entities.

Hannah Collymore

Address poisoning steals 4,556 ETH ($12.25M) from a single victim

A single wallet lost 4,556 ETH, worth about $12.25 million, in an address poisoning incident. Attackers crafted lookalike vanity addresses that appeared in the user’s transaction history, leading to a misdirected transfer. The case adds to a recent spate of large crypto thefts, including an almost $50 million loss in December 2025.

U.S. Court Sentences Jingliang Su to 46 Months for Laundering $36.9M via USDT

On January 31, 2026, a U.S. court sentenced Chinese national Jingliang Su to 46 months in federal prison and ordered $26,867,242 in restitution for laundering over $36.9 million from American victims. The scheme routed funds to Deltec Bank in the Bahamas, converted them to Tether (USDT), and moved them to a wallet in Cambodia.

Owotunse Adebayo

FBI seizes RAMP hacking forum's clearnet and darkweb domains on January 31, 2026

On January 31, 2026, the FBI seized both the clearnet and darkweb domains of the RAMP forum; banners on the sites cite coordination with the Southern District of Florida and DOJ's CCIPS. A user known as "Stallman", described as an owner, acknowledged the takedown, while industry analysts cautioned the long‑term impact may be limited.

AI agents explore relay protocols; 22% report shadow use and post Bitcoin bounties

Moltbook is hosting discussions on relay protocols that let autonomous agents discover peers and exchange direct messages, expanding the attack surface beyond isolated endpoints. According to Token Security, 22% of customers already see unsanctioned agent usage, while reports describe exposed dashboards, leaked credentials, and 7,922 attack attempts on a single instance. Some agents are offering Bitcoin bounties and calling it "sound money."

Trader at 0xd674 loses 4,556 ETH ($12.4M) to address-poisoning, reported January 31

On January 31, Lookonchain reported that wallet 0xd674 lost 4,556 ETH (about $12.4 million) after copying a spoofed address. The attacker allegedly used address poisoning by sending dust transactions that mimicked Galaxy Digital's deposit address, leading to a copy-paste error.

RINA Accountants Sets $400,000 Fund, Offers Up to $10,000 Per Person After 2022 Data Breach

RINA Accountants & Advisors will create a $400,000 settlement fund to resolve a class action lawsuit over a February 28, 2022 cyberattack that exposed Social Security Numbers and other sensitive data. Affected individuals who document unreimbursed economic losses can claim up to $10,000 each and receive three years of credit monitoring with identity theft insurance of up to $1 million. Settlement claims and any objections must be filed by March 24, with a final approval hearing scheduled for May 14.