<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n
<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n
Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n
<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n
Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n
Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n
<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mucheru believes the cause of the losses comes from a lack of knowledge in the field of investing. Mucheru states that the number of Kenyans losing money would be reduced if the media plays their part.<\/p>\n\n\n\n
I think even as you report and investigate these issues, you can also be giving people guidance on the direction, where they need to invest, how they need to protect themselves.<\/em><\/p>Joe Mucheru<\/cite><\/blockquote>\n\n\n\n
Mucheru wants the media to \"collaborate\" with the government. Sharing ideas between the two would ensure the citizens are getting the information they need to safely invest. Additionally, Mucheru urges Kenyan media to build a \"repository of a lot of the information that people actually need\". This information could be used by investors to assist their due diligence, such as previously known scammers.<\/p>\n\n\n\n
Mucheru urges people to keep flagging fake or suspicious entities, to ensure that other investors are notified of a scam as soon as possible.<\/p>\n\n\n\n
<\/p>\n","post_title":"Joe Mucheru Reports Kenyans Have Lost $120M To Crypto Scams","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"joe-mucheru-reports-kenyans-have-lost-120m-to-crypto-scams","to_ping":"","pinged":"","post_modified":"2022-03-20 20:20:02","post_modified_gmt":"2022-03-20 09:20:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3999","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n
Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n
Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n
The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n
Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n
Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n
The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n
The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n
Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n
Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n
The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n
The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n
Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n
Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n
Suspects Ethan Nguyen (20) and Andre Llacuna (20) were accused of lying about promises that came with the purchase of their NFT collection and withdrawing money from the collection through multiple transactions. Nguyen and Llacuna were identified after they were linked with the IPs linked with Coinbase accounts that the money was withdrawn to through the NFT collection.<\/p>\n\n\n\n
NFT Scam In The Making<\/h2>\n\n\n\n
The official report released by the DOJ details that a total of 8,888 Frosties were released at a floor price of 0.04 ETH (~US$125 at the time). All 8,888 were sold out within 48 minutes of being released making the criminals a cool 356.56 ETH (~US$1,105,000).<\/p>\n\n\n\n
The report by the DOJ outlines that Nguyen and Llacuna \"abruptly abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed to obfuscate the original source of funds.\"<\/p>\n\n\n\n
Prior to their arrests, Nguyen and Llacuna were advertising a second NFT project under the name \"Embers\", which had many similarities to the Frosties NFT project. The DOJ believes that this was another \"fraud scheme\".<\/p>\n\n\n\n
Both of the criminals are facing serious time in relation to the scam. This goes to show although cryptocurrencies are based around anonymity, it doesn't allow for illegal acts to stay hidden either.<\/p>\n","post_title":"Frosties NFT Rugpullers Arrested Over A $1.1 Million Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"frosties-nft-rugpullers-arrested-over-a-1-1-million-scam","to_ping":"","pinged":"","post_modified":"2022-03-27 22:51:07","post_modified_gmt":"2022-03-27 11:51:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4122","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3999,"post_author":"1","post_date":"2022-03-20 20:19:59","post_date_gmt":"2022-03-20 09:19:59","post_content":"\n
Deepfakes prey on the new investors, as seeing a high profile individual promoting something builds instant trust where they feel no need to look into the company. <\/li><\/ul>\n\n\n\n
\nThe \"investors\" and \"CEO\" of BitVex. (Source: BitVex)<\/figcaption><\/figure>\n\n\n\n
Deepfakes prey on the new investors, as seeing a high profile individual promoting something builds instant trust where they feel no need to look into the company. <\/li><\/ul>\n\n\n\n
The website, which is now taken down, listed Elon Musk as the \"CEO of Tesla Motors & BitVex\". Along with Musk, the CEO of Binance, Changpeng \"CZ\" Zhao, and CEO of Ark Invest, Cathie Wood were also added as investors and believers of the project.<\/li><\/ul>\n\n\n\nThe \"investors\" and \"CEO\" of BitVex. (Source: BitVex)<\/figcaption><\/figure>\n\n\n\n
Deepfakes prey on the new investors, as seeing a high profile individual promoting something builds instant trust where they feel no need to look into the company. <\/li><\/ul>\n\n\n\n
The video was originally taken from Musk's TED Talk with Chris Anderson in April 2022. The deepfaked Musk states \"Today we are launching an investment project that is working right now if you see this video. Absolutely everyone can earn everything, it\u2019s very simple.\u201d Musk was quick to respond, \"Yikes. Def not me.\"<\/li><\/ul>\n\n\n\n
The website, which is now taken down, listed Elon Musk as the \"CEO of Tesla Motors & BitVex\". Along with Musk, the CEO of Binance, Changpeng \"CZ\" Zhao, and CEO of Ark Invest, Cathie Wood were also added as investors and believers of the project.<\/li><\/ul>\n\n\n\nThe \"investors\" and \"CEO\" of BitVex. (Source: BitVex)<\/figcaption><\/figure>\n\n\n\n
Deepfakes prey on the new investors, as seeing a high profile individual promoting something builds instant trust where they feel no need to look into the company. <\/li><\/ul>\n\n\n\n
The contract was able to steal user's funds through fronting as an approval transaction, this would, in turn, give the hacker access to tokens held in the Uniswap Liquidity Pool, being able to spend funds on behalf of the user through the approval transaction.<\/li><\/ul>\n\n\n\n
UNI has dropped almost 10% in the past day, from $6.23 to $5.60 currently. <\/li><\/ul>\n\n\n\n
This incident highlights the importance of strong security for users and businesses alike. Ensure never to share your private keys, verify that you're not receiving phishing emails, and stay vigilant when there is any contact with someone relating to your private data.<\/p>\n","post_title":"MetaMask Hit With Cyberattack; 7000 User's Emails Threatened","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"metamask-hit-with-cyberattack-7000-users-emails-threatened","to_ping":"","pinged":"","post_modified":"2023-04-18 23:55:28","post_modified_gmt":"2023-04-18 13:55:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11031","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6150,"post_author":"1","post_date":"2022-07-12 22:06:06","post_date_gmt":"2022-07-12 12:06:06","post_content":"\n
A recent phishing attack that promised an airdrop of Uniswap tokens has taken over $8M in Ethereum from investors.<\/p>\n\n\n\n
In reference to phishing attacks, ConsenSys stated, \"we ask that you be extremely vigilant for any suspicious activity and unsolicited contacts which may be made to you by phone, text, email or instant message.\"<\/em> Apart of many companies nowadays are anti-phishing phrases, so make sure that if you're recieving messages from an exchange or other company, your phrase is there.<\/p>\n\n\n\n
A common threat when emails are leaked are phishing attacks. These are cyberattacks which bad players will formulate an email pretending to be a well-known organisation in the hopes that a user will give up sensitive information. <\/p>\n\n\n\n
In reference to phishing attacks, ConsenSys stated, \"we ask that you be extremely vigilant for any suspicious activity and unsolicited contacts which may be made to you by phone, text, email or instant message.\"<\/em> Apart of many companies nowadays are anti-phishing phrases, so make sure that if you're recieving messages from an exchange or other company, your phrase is there.<\/p>\n\n\n\n
Phishing Attacks And Security Within Crypto<\/h2>\n\n\n\n
A common threat when emails are leaked are phishing attacks. These are cyberattacks which bad players will formulate an email pretending to be a well-known organisation in the hopes that a user will give up sensitive information. <\/p>\n\n\n\n
In reference to phishing attacks, ConsenSys stated, \"we ask that you be extremely vigilant for any suspicious activity and unsolicited contacts which may be made to you by phone, text, email or instant message.\"<\/em> Apart of many companies nowadays are anti-phishing phrases, so make sure that if you're recieving messages from an exchange or other company, your phrase is there.<\/p>\n\n\n\n
ConsenSys stated that the \u201cthreat is no longer on-going.\u201d<\/em><\/p>\n\n\n\n
Phishing Attacks And Security Within Crypto<\/h2>\n\n\n\n
A common threat when emails are leaked are phishing attacks. These are cyberattacks which bad players will formulate an email pretending to be a well-known organisation in the hopes that a user will give up sensitive information. <\/p>\n\n\n\n
In reference to phishing attacks, ConsenSys stated, \"we ask that you be extremely vigilant for any suspicious activity and unsolicited contacts which may be made to you by phone, text, email or instant message.\"<\/em> Apart of many companies nowadays are anti-phishing phrases, so make sure that if you're recieving messages from an exchange or other company, your phrase is there.<\/p>\n\n\n\n
\"A third-party service provider that provides customer support ticketing services to ConsenSys was the target of a cyber-security incident...unauthorised actors gained access to the third-party service provider\u2019s systems...users who submitted personal data to our customer support may have had that data accessed by an unauthorised third party.\"<\/em><\/p>\n\n\n\n
ConsenSys stated that the \u201cthreat is no longer on-going.\u201d<\/em><\/p>\n\n\n\n
Phishing Attacks And Security Within Crypto<\/h2>\n\n\n\n
A common threat when emails are leaked are phishing attacks. These are cyberattacks which bad players will formulate an email pretending to be a well-known organisation in the hopes that a user will give up sensitive information. <\/p>\n\n\n\n
In reference to phishing attacks, ConsenSys stated, \"we ask that you be extremely vigilant for any suspicious activity and unsolicited contacts which may be made to you by phone, text, email or instant message.\"<\/em> Apart of many companies nowadays are anti-phishing phrases, so make sure that if you're recieving messages from an exchange or other company, your phrase is there.<\/p>\n\n\n\n
![\"Changpeng](\"https:\/\/i0.wp.com\/www.thedistributed.co\/wp-content\/uploads\/2022\/05\/bitvex-owners-elon-musk-changpeng-zhao-cathie-wood.png?fit=800%2C419&ssl=1\")
![\"\"](\"https:\/\/www.thedistributed.co\/wp-content\/uploads\/2022\/07\/uniswap-phishing-attack-email.jpeg\")