Crypto
Law enforcement warns about the dangers of crypto scammers
![Law enforcement warns about the dangers of crypto scammers Law enforcement warns about the dangers of crypto scammers](https://gray-kctv-prod.cdn.arcpublishing.com/resizer/v2/2OLGJBL65BAV5MPJADEHQSU3QY.png?auth=311ea9e76643500abf649e0965769969cf6df9cb6a0aec30fe183a2c878a68e6&width=1200&height=600&smart=true)
KANSAS CITY, Mo. (KCTV) – An increasing number of people in the metro have been cheated out of their money through cryptocurrency scams. Scammers can get you even if you don’t use it.
Cryptocurrency scams have stolen billions worldwide and can snatch up your savings, too. Now, law enforcement has stepped up their game to help you stop it.
With a Bitcoin ATM at his gas station, Alfredo Antolin has seen many times firsthand, how people come to make transactions after they have received a phone call but don’t realize they have been scammed.
“I try to tell all the employees in there if they’re older and they’re on the phone, please check in with them,” Antolin said. “And make sure that they’re doing it on their own. That they know what they’re doing and they have their own account and they’re not pushing it to someone else’s.”
In 2023, the Federal Reserve Estimated 18 million adults in America used cryptocurrency, a 3% drop compared to the year before. Now in Clay County, Prosecutor Zach Thompson has seen a rise in scam cases.
“Scammers will direct investors to an online investing platform with the promise of a giant return when in fact they’re actually just stealing that person’s money,” Thompson explained. “The second type of scam, someone will call up their victim and pressure them to pay their bill with cryptocurrency.”
Lately, law enforcement has also seen thieves and drug dealers use digital assets to hide their dark money from the law. Now, investigators have gotten new training to track it down.
“It’s going to go over the basics of cryptocurrency so investigators can recognize potential evidence when they’re out in the field,” Thompson said.
Brian Karman led the course. And wants the public to know they can help you. So, never be afraid to report it.
“We have to take that report, we have to get that into the hands of the detective,” Karman said. “So, we can track those stolen funds and recoup those losses.”
Investigators notice more young people fall for scams like this than the elderly. If you do get involved, they advise you to use U.S.-based crypto companies which have more oversight.
Copyright 2024 KCTV. All rights reserved.
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Crypto
Styx Stealer Malware Targets Cryptocurrency Users
![Styx Stealer Malware Targets Cryptocurrency Users Styx Stealer Malware Targets Cryptocurrency Users](https://www.cryptotimes.io/wp-content/uploads/2024/08/Styx-Stealer-Malware-Targets-Cryptocurrency-Users.jpg)
Check Point Research has recently uncovered a new type of malware called ‘Styx Stealer’, which poses a serious threat to cryptocurrency users.
This malware, which surfaced in April, is reported to be more advanced than the older ‘Phemedrone Stealer’. It comes with enhanced features that make it particularly dangerous for those involved in digital currencies.
According to the research, Styx Stealer works by intercepting cryptocurrency transactions. When a user tries to send cryptocurrency, the malware replaces the recipient’s wallet address with the hacker’s address. As a result, the money ends up in the wrong hands. This makes it a serious risk for anyone involved in digital currencies.
The malware was initially available for rent on a website called styxcrypter.com. Users could pay $75 a month or $350 for a lifetime license. Payments could be made using various cryptocurrencies like Bitcoin and Litecoin. However, as of August 16, the website no longer lists Styx Stealer, which suggests the developer might be moving on to other projects.
Styx Stealer was discovered because the developer accidentally leaked some data during testing. This leak helped cybersecurity experts understand how the malware works. It’s estimated that in the first two months, the malware developer earned about $9,500 in cryptocurrency from their customers.
Fortunately for Windows users, those with up-to-date operating systems are protected from Styx Stealer. This is due to a patch issued last year that fixed a vulnerability in Microsoft Windows Defender, which Styx Stealer relies on to execute its attacks.
Also Read: There is a New QR Code Scam Targeting Crypto Users: Bitrace Report
Crypto
Hedge Funds and Brokerages Dominate Bitcoin Assets, Coinshares 13F Filing Analysis Shows – Finance Bitcoin News
![Hedge Funds and Brokerages Dominate Bitcoin Assets, Coinshares 13F Filing Analysis Shows – Finance Bitcoin News Hedge Funds and Brokerages Dominate Bitcoin Assets, Coinshares 13F Filing Analysis Shows – Finance Bitcoin News](https://static.news.bitcoin.com/wp-content/uploads/2024/08/13f.jpg)
Crypto
Cryptocurrency prices on August 16: Bitcoin trades flat at $58,400; Altcoins mixed
![Cryptocurrency prices on August 16: Bitcoin trades flat at ,400; Altcoins mixed Cryptocurrency prices on August 16: Bitcoin trades flat at ,400; Altcoins mixed](https://img.etimg.com/thumb/msid-112570050,width-1200,height-630,imgsize-130430,overlay-etmarkets/photo.jpg)
The global cryptocurrency market cap remained largely unchanged, edging up just 0.02% to around $2.07 trillion over the last 24 hours.
As of 4:17 pm IST, Bitcoin (BTC) was trading 0.15% higher at $58,428, after hitting a low of $56,161 earlier in the day. Ethereum (ETH), the second-largest cryptocurrency by market capitalization, gained 0.04%, trading at $2,619.
Crypto Tracker
This market movement came after data revealed U.S. consumer prices rebounded as expected in July, tempering expectations for a substantial rate cut by the Federal Reserve next month.The U.S. consumer price index increased 0.2% last month, after falling 0.1% in June, the Labor Department’s Bureau of Labor Statistics said. In the 12 months through July, the CPI increased 2.9%, after advancing 3% in June.Meanwhile, markets are now pricing in just a 25% chance of a 50-basis-point cut by the Federal Reserve next month, down from 55% a week ago, according to the CME FedWatch tool.”Bitcoin experienced a pullback to the $58,000 level following the release of U.S. CPI data, which indicated a price rebound in July as anticipated. This dampened hopes for a significant rate cut from the Federal Reserve next month,” said Edul Patel, CEO of Mudrex. He also noted that “geopolitical tensions between Iran and Israel further contributed to market pressure, along with significant liquidations in the crypto derivatives market.”Meanwhile, the CoinDCX Research Team observed that “there’s no specific reason for this drop. Both Bitcoin and Ethereum are moving sideways on lower time frames, with the overall market appearing choppy.” They added, “U.S. BTC ETF inflows have slowed down, and altcoins are suffering due to Bitcoin’s decline and the market’s choppy behavior.”
The volume of all stablecoins is now $68.27 billion, 93.38% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.
In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, rose to $1.153 trillion. Bitcoin’s dominance is currently 55.83%, according to CoinMarketCap. BTC volume in the last 24 hours rose 6.36% to $34.68 billion.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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