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The FBI secretly created a coin to investigate crypto pump-and-dump schemes

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The FBI secretly created a coin to investigate crypto pump-and-dump schemes

The FBI created a cryptocurrency as part of an investigation into price manipulation in crypto markets, the government revealed on Wednesday. The FBI’s Ethereum-based token, NexFundAI, was created with the help of “cooperating witnesses.”

As a result of the investigation, the Securities and Exchange Commission charged three “market makers” and nine people for allegedly engaging in schemes to boost the prices of certain crypto assets. The Department of Justice charged 18 people and entities for “widespread fraud and manipulation” in crypto markets.

The defendants allegedly made false claims about their tokens and executed so-called “wash trades” to create the impression of an active trading market, prosecutors claim. The three market makers — ZMQuant, CLS Global, and MyTrade — allegedly wash traded or conspired to wash trade on behalf of NexFundAI, an Ethereum-based token they didn’t realize was created by the FBI. 

“What the FBI uncovered in this case is essentially a new twist to old-school financial crime,” Jodi Cohen, the special agent in charge of the FBI’s Boston division, said in a statement. “What we uncovered has resulted in charges against the leadership of four cryptocurrency companies, and four crypto ‘market makers’ and their employees who are accused of spearheading a sophisticated trading scheme that allegedly bilked honest investors out of millions of dollars.”

Liu Zhou, a “market maker” working with MyTrade MM, allegedly told promoters of NexFundAI that MyTrade MM was better than its competitors because they “control the pump and dump” allowing them to “do inside trading easily.”

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An FBI spokesperson told CoinDesk that there was limited trading activity on the coin but didn’t share additional information. On a Wednesday press call, Joshua Levy, the acting US attorney for the District of Massachusetts, said trading on the token was disabled, according to CoinDesk.

The DOJ has reportedly secured $25 million from “fraudulent proceeds” that will be returned to investors.

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Scammers exploit grief with fake funeral streaming on Facebook

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Scammers exploit grief with fake funeral streaming on Facebook

Scammers use every possible method to deceive you, from social engineering through human verification pages to impersonating government agencies. You’d think there would be a limit to their tactics, that certainly they wouldn’t exploit someone’s death to scam those who are grieving. Unfortunately, you’d be wrong. 

A new scam has surfaced in which bad actors claim to offer video streaming of funeral services for the recently deceased. 

Those who follow the links to these streaming services are then prompted to provide their credit card information and asked to sign up for suspicious video streaming websites.

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A woman on Facebook (Kurt “CyberGuy” Knutsson)

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How does the scam work?

The news of this scam comes from KrebsOnSecurity, who heard from several victims. It typically targets the friends and family of the deceased. Scammers begin by creating a Facebook group for the person who passed away, listing the correct time and date of the funeral service. They then claim that the service can be streamed online by following a link, which leads to a page requesting credit card information.

It’s surprisingly easy to find these fake funeral groups on Facebook. Just searching for keywords like “funeral” and “stream” brings up tons of pages, some for past services, others for upcoming ones.

These groups usually have a photo of the deceased as the profile picture and try to send users to newly created video streaming websites that ask for credit card payments before you can watch. Even worse, some of them ask for donations in the name of the deceased.

facebook profile photo

Fake funeral streaming scam on Facebook (KrebsOnSecurity)

DON’T FALL FOR THAT ‘LOOK WHO DIED’ FACEBOOK MESSAGE TRAP

But who are these scammers?

The scammers behind these fake streaming links operate primarily from Rajshahi, Bangladesh, under a group called apkdownloadweb. They have registered multiple domains, including livestreamnow.xyz, live24sports.xyz and onlinestreaming.xyz. These websites appear to offer live streams for various events, including funerals and community gatherings, but they are simply traps designed to deceive users.

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The individual allegedly associated with apkdownloadweb is Mazidul Islam, who has a background in running an IT blog, per KrebsOnSecurity’s article. His LinkedIn profile reveals this connection. The email linked to their DNS provider is reportedly associated with another individual, Mohammod Mehedi Hasan, suggesting a network of scammers working together.

Scammers exploit social media, creating fake Facebook groups that promote links to their fraudulent streaming sites. They take advantage of genuine community events, misleading people into believing they can watch live streams by clicking on their links.

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facebook scam

Illustration of scam on Facebook (Kurt “CyberGuy” Knutsson)

HOW TO PROTECT YOURSELF FROM SOCIAL MEDIA SCAMMERS

5 ways to protect yourself from Facebook link scams

1. Verify the source before clicking links: Always check the source of any link before clicking. Look for official announcements from event organizers or trusted news sources. If a link appears in a social media post, confirm it by visiting the organization’s official website or social media page. Scammers often use similar-sounding domain names, so double-check for spelling errors or unusual domain endings.

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The best way to safeguard yourself from malicious links is to have antivirus software installed on all your devices. This protection can also alert you to phishing emails and ransomware scams, keeping your personal information and digital assets safe. Get my picks for the best 2024 antivirus protection winners for your Windows, Mac, Android and iOS devices.

2. Enable two-factor authentication: Activate two-factor authentication on your online accounts whenever possible. This adds an extra layer of security by requiring not just a password but also a second verification method, such as a text message or an authentication app. Even if scammers manage to get your password, they would need the second factor to access your accounts.

3. Regularly update your passwords: Change your passwords regularly and use strong, unique passwords for each of your accounts. This reduces the risk of multiple accounts being compromised if one password is stolen. Also, consider using a password manager to generate and store complex passwords.

4. Educate yourself about scams: Stay informed about common online scams and how they operate. Awareness is key to prevention. Research how scammers craft their messages and the types of offers that are usually too good to be true. Websites like the Federal Trade Commission provide resources for identifying and reporting scams, and you can always rely on Cyberguy.com.

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5. Report suspicious activity: If you encounter a fake streaming link or a suspicious post, report it to the platform where you found it. Most social media sites have mechanisms for reporting scams or fraudulent activity. Reporting helps keep others safe by alerting the platform to potential threats. Additionally, consider sharing your experience with friends and family to help them stay informed and cautious.

GHOST-HACKING: HOW TO PROTECT YOURSELF FROM SCAMS FROM BEYOND THE GRAVE OF THOSE YOU KNEW

Kurt’s key takeaway

Scammers don’t spare anyone, and this Facebook funeral scam should make that clear. They are willing to take advantage of someone’s death and profit from those who are grieving. While this is extremely galling, it serves as a reminder that we can’t let our guard down when navigating through the darkness of the internet. Always watch out for the links you click, even if they seem perfectly safe.

Do you think Facebook does enough to protect its users from cons like funeral scams? Let us know by writing us at Cyberguy.com/Contact.

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Apple TV Plus is coming to Prime Video

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Apple TV Plus is coming to Prime Video

Amazon is adding Apple TV Plus to Prime Video, a move that could help bolster the iPhone maker’s languishing streaming service. Apple TV Plus will be available on Prime Video in the US later this month as a $9.99 monthly add-on — the same you’d otherwise pay directly to Apple. The difference now is that Apple TV Plus is being promoted directly to Amazon’s massive video subscriber base.

“What we offer channel partners is hundreds of millions of subscribers around the world,” said Prime Video head Mike Hopkins at Bloomberg’s Screentime conference. “We see a lot more engagement, we’re able to get subscribers for those businesses at a really attractive rate.” Amazon takes a cut of the revenue from streaming subscriptions purchased on its video platform, but the specific terms have not been disclosed.

While Apple TV Plus has been praised for its roster of shows like Severance, Ted Lasso, and Foundation, the service has struggled to gain ground against Prime Video, Netflix, Max, Disney Plus, and Hulu — currently the five most subscribed streaming platforms in the US, respectively. Paramount Plus overtook the service in market share last quarter according to the JustWatch streaming guide, and market research firm Antenna reports that Apple TV Plus has some of the highest subscription cancellation rates among streaming providers.

Having Apple TV Plus available within Prime Video isn’t quite the same as bundled deals like Comcast’s all-in-one Netflix, Peacock, and Apple TV Plus offerings, but the goal is the same — to attract more customers and reduce cancellation rates as audiences grow weary of managing an ever-increasing number of subscriptions and apps.

For Amazon, Apple TV Plus joins over 100 streaming service add-ons already available through Prime Video Channels. It’s all part of the company’s plan to become a global “first-stop entertainment hub” according to Hopkins, a goal that Apple once had for Apple TV.

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Say goodbye to dead batteries with this portable wind turbine

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Say goodbye to dead batteries with this portable wind turbine

When you’re out adventuring, staying connected is essential. Whether it’s your phone, laptop or even a drone, everything seems to need a recharge just when you’re in the most remote places. 

The solution? Shine 2.0, a mini wind turbine that not only fits in your backpack but also powers all your gadgets, day or night, rain or shine. 

Let’s dive into the details of this 3-in-1 portable wind turbine, charge controller and power bank.

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A man using the Shine 2.0 wind turbine (Aurea Technologies)

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Power on the go

Designed for “outdoor enthusiasts and emergency preparedness,” the Shine 2.0 folds down to the size of a 1-liter water bottle weighing just 3 pounds, making it a breeze to pack. The turbine is also weather-sealed to IP54 standards, meaning it can withstand rain and dust, perfect for outdoor adventures. It comes equipped with three 23.6-inch composite-reinforced blades and can be mounted on a 6-foot tower to capture more wind and increase efficiency.

portable wind turbine 2

People using the Shine 2.0 wind turbine (Aurea Technologies)

THE BEST TRAVEL GEAR FOR 2024

Harnessing nature’s power

The Shine 2.0 is capable of generating up to 50 watts of power, enough to charge your phone in just 17 minutes if it catches a 28-mph wind. For laptops, it can recharge them in under two hours. Even in lighter winds, the Shine 2.0 will keep working, although at slower speeds. It has a built-in 12,000-mAh Li-ion battery to store the power it generates, meaning you can charge your devices even when the wind dies down.

HOW TO REMOVE YOUR PRIVATE DATA FROM THE INTERNET 

portable wind turbine 3

A woman using the Shine 2.0 wind turbine (Aurea Technologies)

NEW BATTERY HAS DOUBLE THE POWER AND FRACTION OF THE DANGEROUS CHEMICALS

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Smart monitoring and fast charging

Thanks to Bluetooth connectivity, you can monitor wind speeds, power generation and battery status in real time through the companion mobile app. This allows you to track and optimize the turbine’s performance. For fast charging, the Shine 2.0 includes a USB-C PD port that supports 75W fast charging, meaning you can power phones, cameras, laptops and even drones quickly and efficiently.

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portable wind turbine 4

A man using the Shine 2.0 wind turbine (Aurea Technologies)

OLD VS. NEW BACKUP POWER GENERATORS: BATTERY VS GAS

Versatility and adaptability

The Shine 2.0 doesn’t just stop at small devices. With optional adapters, you can use it to charge power stations from popular brands like Jackery, EcoFlow and Bluetti. This makes it an invaluable asset not only for hikers and campers but also for those preparing for emergencies or looking for renewable energy solutions during power outages.

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portable wind turbine 5

A man and woman using the Shine 2.0 wind turbine (Aurea Technologies)

A Kickstarter success story

Aurea Technologies, the creators of Shine 2.0, have a track record of crowdfunding success. The original Shine turbine, launched in 2021, was funded in just one hour on Kickstarter and sold out its first production run in five days. Shine 2.0 builds on this momentum, offering enhanced power, faster charging and a more user-friendly experience. With early-bird prices starting at $342, it’s already turning heads in the portable energy market.

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portable wind turbine 6

A woman using the Shine 2.0 wind turbine (Aurea Technologies)

Kurt’s key takeaways

Shine 2.0’s compact size, combined with powerful features like 75W fast charging and real-time energy metrics, make it a great tool for anyone who needs off-grid power. Whether you’re a hiker, camper or someone preparing for power outages, this mini-wind turbine offers renewable, reliable energy when you need it most. So, the next time you head out into the wild, consider packing wind power in your backpack.

How do you currently stay powered when you’re off-grid? Let us know by writing us at Cyberguy.com/Contact.

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For more of my tech tips and security alerts, subscribe to my free CyberGuy Report Newsletter by heading to Cyberguy.com/Newsletter.

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Copyright 2024 CyberGuy.com. All rights reserved.

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