cryptoscam

India’s highest court has reaffirmed its tough stance on large-scale financial crimes, rejecting a bail request for Abishek Sharma, one of the main accused in a massive cryptocurrency scam that allegedly defrauded around 80,000 investors of more than 2 billion rupees (approximately $240 million).
Presiding judge Sushil Kukreja described the crime as exceptionally serious with far-reaching societal consequences. “The investigation shows that the accused was a close associate of the main perpetrator Subhash Sharma, who fled India,” the judge stated in his decision.

Lengthy Custody Does Not Mean Automatic Release
The defense argued that under Article 21 of the Indian Constitution, the accused has the right to a speedy trial and cannot be held indefinitely. However, the court emphasized that even if the trial is unlikely to conclude soon, the severity of the case and the accused’s clear involvement in a massive economic crime rule out bail.
Sharma has been in custody since October 2023, and his legal team has not presented any new substantial evidence since his initial bail request was denied.

A Fraud That Reached the Police Ranks
According to Indian police, the fraudulent activities began as early as 2018 but only came to light in September 2023, when investor Arun Singh Guleria filed a criminal complaint at the Palampur police station in Kangra district. He alleged that a group led by Subhash Sharma – including Hema Raj, Sukhdev, Milan Garg, and Abishek Sharma – lured investors into schemes linked to digital assets.
The scams centered around two online platforms: Voscrow and Hypenext. Voscrow offered investors digital assets, while Hypenext promised to double their money. In reality, it was an elaborate Ponzi scheme sustained by a network of recruiters bringing in new investors.
Investigators revealed that more than 1,000 state police officers were among the victims who lost money in the scheme.

Special Investigation Team and the Gang’s Modus Operandi
On September 26, 2023, a special investigation team was formed under the supervision of the Inspector General in Dharamshala. Police later apprehended all suspects except Subhash Sharma, who they believe fled abroad.
The probe uncovered how the group manipulated cryptocurrency prices to maximize their gains at investors’ expense. Funds flowed through a network of shell companies used to launder the illicit proceeds, with some of the money spent on luxury real estate and expensive goods.
Police allege that Abishek Sharma played a key role in organizing investor meetings across the state – from Una, Kullu, and Mandi to Baddi, Chandigarh, Palampur, and Hamirpur.

A Lesson for Investors and the State
Indian authorities warn that the case is yet another reminder of how easily investor trust can be exploited without proper oversight and regulation. In the still partly unregulated crypto sector, promises of quick wealth can lead to devastating losses – not only for individuals but for entire communities.

#CryptoFraud , #Cryptoscam , #CryptoCrime , #DigitalAssets , #CryptoNews

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

It's a story as old as the market itself. A small coin gets a massive, coordinated "pump" from a Telegram group or social media channel. The price shoots up 50%, 100%, or even more in minutes.You see it and you think, "I can get in and out quickly."
But here's what you don't see: the original "pumpers" who planned this event are waiting for people like you to join the party. The moment you buy, they start selling—and the price crashes back down, often leaving you with a worthless bag. This is a classic "pump and dump" scheme.
One infamous example was the "Squid Game" token, which had a massive hype-driven pump, but its developers had built in code that prevented buyers from selling. They reaped over $12 million before the project collapsed, leaving investors with nothing.
Don't be a victim. True profits are built on a foundation of solid analysis and discipline, not on the hope of a quick, risky pump.
#pumpAndDump #Cryptoscam #SmartTrading #BinanceSquare #CryptoEducacion $BTC $XRP and $ETH

OneCoin’s Ruja Ignatova laundered billions through Dubai luxury properties — while on the FBI’s Most Wanted list.
🧠 Quick Summary:
Ruja Ignatova, known as the Cryptoqueen, was behind OneCoin, one of the largest crypto Ponzi schemes ever. She vanished in 2017 — but investigations revealed she was still active financially, investing millions in Dubai real estate even while under global indictment.
📉 Key Facts:
• 🏴‍☠️ What was OneCoin?
A fake cryptocurrency project launched in 2014. It promised high returns, but had no blockchain, no real token — just lies.
• 👤 Who is Ruja Ignatova?
A Bulgarian-German entrepreneur who led the scam. She disappeared in late 2017 after being charged with fraud and money laundering.
• 🏘️ Dubai Connection:
Recent international investigations revealed:
• Over \$10 million AED spent on a Palm Jumeirah penthouse
• Multiple villas and apartments purchased through shell companies
• All while she was officially “missing”

• 🔍 Ignored Warnings:
These purchases happened after global agencies issued arrest warrants— raising questions about oversight in high-end markets.
⚠️ Why This Matters:
● 💣 \$4 billion lost — one of the biggest crypto scams ever
● 🌍 Raises concern over Dubai as a safe haven for financial crime
● 🔒 Reinforces the need for global AML enforcement in crypto.
🔐 TL;DR:
Ruja Ignatova, the so-called Cryptoqueen, ran the \$4B OneCoin scam and vanished — but her money didn’t. She moved stolen funds into Dubai luxury real estate, exposing a huge gap in anti-money-laundering systems.
💬 What do you think?
Should global crypto fugitives still be able to invest in major cities like Dubai? Is regulation strong enough?
\#Cryptoscam #ETHBreaks4000 #CryptoIn401k #USFedNewChair #USFedBTCReserve

YouTube Turned into a Fraud Tool
Once innocent and forgotten YouTube accounts have become a powerful weapon in the hands of cybercriminals. Researchers at SentinelLABS are warning of a sophisticated and persistent campaign that uses these aged accounts to promote fake crypto trading bots. Disguised as profitable video tutorials, these scams actually lure users into deploying malicious smart contracts — with one goal: drain their wallets.
According to lead threat researcher Alex Delamotte, this is a widespread and ongoing threat targeting hopeful investors looking for profitable tools.

How Does the Scam Work?
At first glance, everything seems legit: the videos feature high-quality visuals, AI-generated narrators, and convincing explanations that entice viewers to deploy so-called arbitrage bots or MEV (Maximal Extractable Value) tools.
🔹 Users are redirected to a website that provides the source code of a “smart contract.”

🔹 They are instructed to deploy it via platforms like Remix, a common Ethereum development environment.

🔹 The promise? Easy passive income and arbitrage profits.
In reality, the smart contract is rigged to secretly include the attacker’s wallet address. It uses various obfuscation techniques — XOR operations, string concatenation, or hexadecimal address generation — to hide its true purpose from plain sight.
Once the user deploys the contract and sends at least 0.5 ETH (allegedly to cover gas fees), the contract’s internal logic activates and allows the attacker to instantly steal the funds. In some cases, the attack is triggered automatically, even if the user doesn't explicitly interact with the contract afterward.

A Profitable Fraud Scheme
SentinelLABS identified several scam-linked wallets, with one standing out in particular. The address associated with YouTube user @Jazz_Braze received 244.9 ETH, worth over $900,000.
The stolen funds were quickly moved through more than 20 secondary wallets, pointing to a sophisticated money laundering operation.

Old Accounts, New Threat
The YouTube channels used in the scam weren’t newly created — many previously hosted videos related to crypto or pop culture. Delamotte notes that these accounts were likely purchased through Telegram groups or other black-market platforms.
The age and prior content give these accounts a false sense of trust and credibility. Many videos feature AI-generated positive comments, while negative feedback is heavily moderated or removed altogether.

What Are Crypto Trading Bots and MEV?
Crypto trading bots are legitimate tools that automate trades using predefined strategies. They can track market trends, detect price inefficiencies, and execute orders much faster than a human trader.
A special category is MEV bots, which scan blockchain mempools (pending transactions) to exploit transaction ordering for profit.

Fun fact: A bot known as arsc once used such strategies to extract nearly $30 million from unsuspecting Solana users using “sandwich attacks” — inserting its own transactions before and after a target trade.

A Clear Warning for Crypto Investors
SentinelLABS is urging all crypto traders and investors:
Never deploy code from social media videos or influencer tutorials, no matter how promising they seem.
As Delamotte bluntly puts it:
"If something sounds too good to be true, it usually is — especially in crypto."

60-Second Summary:
🔹 Scammers exploit old YouTube accounts to spread fake crypto bots

🔹 Users are tricked into deploying malicious code that drains their wallets

🔹 One scammer wallet collected over $900,000 in ETH

🔹 MEV bots are real but can be misused for attacks

🔹 Always verify sources — extreme caution is a must in the crypto space

#Cryptoscam , #YouTube , #CryptoFraud , #defi , #Web3Security

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“