In Brief Crypto Ponzi schemes are now explicitly illegal under ISA 2024, with operators facing up to ten years imprisonment and heavy fines. SEC Nigeria gains authority to regulate digital assets, freeze scam-linked accounts, and enforce KYC/AML standards on all VASPs. Mandatory registration, enhanced investor protections, and global compliance benchmarks lay the groundwork for a secure, innovative…
The WalletConnect app hack on Google Play masqueraded as a legit wallet—accumulating over 10,000 downloads and siphoning $70K from 150 users. Hackers used fake reviews, rebranding, and deep-link phishing to drain high-value tokens first, highlighting critical flaws in current app vetting. Users and platforms must embrace robust security practices—careful app vetting, transaction monitoring, and AI-powered…
TL;DR, DCI officers arrested four suspects linked to the GHash mining scam, seizing 1,336 SIM cards used to execute the fraudulent operation. This scheme lured investors with fake cloud mining machines and promises of 60–80% returns, hiding behind a false narrative of rural electrification while actually operating a Ponzi-style structure. Despite recent arrests, rising…
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