NFT News by Thebittimes.Com

Ukraine National Police have raided a criminal call center network that promised phony crypto investments to unsuspecting victims, seizing luxury cars and arresting an individual with links to a so-called ‘thief in law.’  According to a translated announcement from Ukrainian police on Monday, authorities detained 14 suspects accused of defrauding victims across Ukraine, Moldova, Kazakhstan, and the European Union.  Following 40 searches across Ukraine , authorities seized 12 luxury cars, 136 units of computer equipment, 951 SIM cards, and funds totaling $64,500. As part of the operation, scammers called victims pretending to be employees at a stock exchange and, using ‘psychological techniques,’ persuaded them to invest personal funds into crypto. They then transferred the stolen funds to criminally controlled digital wallets and bank cards.  Footage shared by Ukraine police of the raids against members of the crypto scam call centre.  Read more...

An estimated $400 million that went missing from Sam Bankman-Fried’s bankrupt FTX may be linked to Russian cyber criminal groups, research firm Elliptic says. It reported on Oct. 12 that the funds that were stolen in  November 2022, mostly in ether (ETH), remained inactive for five days before a substantial amount, 65,000 ETH ($100 million), was moved to the Bitcoin blockchain using the RenBridge service . After that, the attackers utilized a mixer, a blockchain-based tool, to hide their tracks.  “Of the 4,536 Bitcoins converted from ether at RenBridge, 2,849 BTC was sent through mixers, predominantly a service called ChipMixer,” Elliptic said. “Tracing these assets becomes more challenging, however at least $4 million was transferred to exchanges, where it may have been cashed out.” The crypto assets stolen from FTX (Source: Elliptic) Unveiling the Suspects While the individuals behind the attack remain unidentified, there is hope that in...