The pace of scams and frauds concerning cryptocurrencies remained the same in developing, developed, and underdeveloped. Despite favorable rules and pro stances, some regions have continued to report illicit activities related to crypto.
In the most recent, the police officials of the Republic of Cyprus have warned the people about the surge in SMS frauds reportedly targeting only the crypto investors.
Citing the proof by the cybercrime division of the Police, a regional media outlet reported that the scammers behind these identified frauds are falsely claiming them as from Binance exchange.
Fraudsters victimize investors through the message ‘unauthorized access’
As per the enforcement officials, the fraud actors have been sending mass SMS to the investors, with a note that an unwanted or unauthorized login has been detected in their account. The crafted message also includes contact numbers, which are claimed to be the contacts of customer support.
Following the identification of the frauds, the police have warned the public, suggesting them not to revert over the received message or to contact the mobile number mentioned. The majority of times, it has been reported that people are losing their investment due to a surge in tricking and illicit activities concerning crypto.
The scams and frauds by leveraging the name of renowned crypto exchanges and companies have become quite common, and now there is a need for harsh regulation to tackle the skyrocketing pace of illegal activities with crypto.
A few other agencies have identified other techniques for frauding investors and crypto enthusiasts; worth noting the message of adding a new feature or smart contracts to their wallets.
Crypto market depth report
Until publishing, the crypto market cap was $3.14 trillion with a loss of 0.89 percent, and the trading volume was $95.32 billion with a surge of 21 percent. At the same time, the crypto fear and greed index was at 39, mirroring the fear sentiment of the investors.
A few major tokens like Solana, Worldcoin, and Jupiter have been bleeding since the past few trading sessions; when writing, SOL was at $169.12 with a loss of 8.50 percent, Worldcoin was at $1.16 with a decline of 8.62 percent and Jupiter at $0.7322 with a decline of 13 percent.
According to CoinMarketCap, the total sale volume of the NFT market has reached $38,118.025.21 with a loss of 19 percent in the past 24 hours, and the market cap fell 66.52 percent now at $20,911,002,944.
The intraday ranking of NFT as per volume has been dominated by Kaito Genesis, Doodles, Pudgy Penguins, and Bored Ape.
In the past 24 hours, the memecoins market capitalization has reached $67.59 billion with a loss of 5.24 percent, yet the most visited coins include Pepe, Dogecoin, Official Trump, and SHIB.
