PAYBACK have been involved in blockchain forensic analysis since the beginning to support clients on demand with the challenging task of crypto fraud. It has become clear over time that scammers have evolved their methods in their battle against trust and transparency. One of the latest—and most concerning—trends we’re seeing? Scammers are using artificial intelligence to fake their identity. Today, cybercriminals have become more sophisticated by mimicking individuals, ranging from AI avatars and filters to deepfakes. These methods based on AI are particularly common within the cryptocurrency world, where thieves attempt to gain trust before they steal or deceive. To all our partners, clients, and law enforcement allies: this is no longer a fringe tactic. It’s a growing trend, and it’s critical to stay vigilant.
Read MoreThursday, January 16, 2025
Cryptocurrency fraud has surged into a $53 billion problem in the U.S. alone, with criminals exploiting the speed and anonymity of digital assets to execute sophisticated scams. Yet, despite the increasing number of victims and billions in stolen funds, law enforcement agencies remain largely ineffective at combating crypto fraud. Why? The answer lies in outdated systems, a lack of specialized expertise, and a global web of organized crime that moves faster than the authorities.
Read MoreMonday, January 13, 2025
Editor Disclaimer: The numbers presented in this article represent only reported cases. Research indicates that only 1 in 10 victims report their losses, meaning the true damage caused by crypto scams could be up to ten times higher. Cryptocurrency scams pose an increasing risk to financial systems globally. They not only destroy confidence in digital currencies but also destabilize markets globally, causing huge economic losses. We, at PAYBACK, offer forensic blockchain analysis services to assist victims in recovering their lost assets. The article tries to evaluate the crypto scam effects on various industry fields, with emphasis on the key statistics and trends.
Read MoreFriday, January 10, 2025
Rate of development in the virtual money market has driven an unstoppable wave of financial creativity—but no less astonishing growth in crypto-based scams. With the spread, however, some countries have become leading targets for specially clever cons triggered by regulatory imbalance, economic conditions, and other digital structure arrangements. This article gives a statistical analysis of the most impacted nations by crypto scams, the method adopted by scammers, and the financial security issue for the world
Read MoreTuesday, January 07, 2025
Despite its downturn and high volatility, the popularity of crypto keeps growing—including among criminals. According to the US Federal Trade Commission, 46,000 people reported losing $1+ billion in crypto to scams between January, 2021, and June, 2022, alone. “This is about one out of every four dollars reported lost, more than any other payment method.” (Source)
Read MoreSaturday, January 04, 2025
The cryptocurrency industry is currently witnessing another explosive growth, with digital assets like Bitcoin and Ethereum seeing another price explosion and gaining more mainstream adoption. As more people are investing in crypto, cryptocurrency exchanges are emerging as a convenient platform for investors and traders to buy, sell, and trade these crypto assets.
Read MoreWednesday, January 01, 2025
Cyberstalking and harassment can take many different forms, whether you’re receiving distressing messages, being bullied, having personal information released online, or suspecting you’re being monitored. This guide will help you understand what laws and regulations apply in the UK, how to report cyberstalking and harassment, what evidence you should collect and store, and how to engage with the police and other supporting organizations.
Read MoreWednesday, January 01, 2025
