Las Vegas businessman Brent Kovar has been convicted on 15 federal counts for defrauding more than 400 investors through his company, Profit Connect.
Kovar falsely claimed the company used AI-powered supercomputers to mine crypto and generate guaranteed annual returns of 15%–30%. Prosecutors said the technology and profits never existed, with investor funds instead used to repay earlier investors and fund personal expenses.
Kovar faces up to 280 years in prison and is scheduled to be sentenced on November 30, 2026.
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The eight-month operation targeted West African criminal networks linked to crypto investment fraud, romance scams and business email compromise.
In Romania, authorities uncovered a scheme linked to €143M in stolen and laundered funds.
INTERPOL says the investigation focused on tracking the money behind the criminal networks.
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The attacker used lookalike wallet addresses and small dust transactions to trick victims into copying the wrong address from their transaction history.
The stolen funds were converted to USDD and consolidated into a single wallet.
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A single threat actor has reportedly stolen more than $2M in cryptocurrency through fake Ledger Live websites promoted through Google ads.
Victims were redirected to fraudulent Ledger clones and prompted to enter their 24-word recovery phrases.
One reported theft involved a Ledger user who entered their seed phrase while attempting to move their funds, resulting in the wallet being drained.
One identified threat-actor wallet reportedly consolidated around $1.9M in ETH:
0x380Fd431Cb9564A392Cf2405e02cd2a3737eab8aLedger warns that users should never enter their recovery phrase anywhere online.
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$200,000,000 longs liquidated from the crypto market in the past 60 minutes.
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Alleged hacker Srikrishna Ramesh “Sriki” has been denied bail after investigators presented an alleged ₹288.96 crore ($34M+) money trail linked to hacking and crypto laundering.
Authorities allege the funds came from attacks targeting crypto exchanges, gaming platforms and government systems, with crypto mixers used to obscure transactions.
Sriki remains in custody as the investigation continues.
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A victim reportedly lost $2.5M after connecting their wallet to a fake crypto exchange.
A hidden wallet drainer then transferred the funds to an attacker-controlled wallet.
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An attacker reportedly manipulated Tectonic’s TONIC token nearly 100x, using the inflated collateral to borrow millions in other assets.
Cronos halted the network before most funds could escape. Around $6M was bridged to Ethereum, while roughly $69M remains trapped on-chain.
The $75M loss is still an estimate and has not been officially confirmed.
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Aquifer was drained of $2.47M in just 40 minutes across 212 transactions after an attacker exploited fake token accounts showing a fabricated 18 trillion USDC balance.
The attacker received real assets without actually paying for them, converted the funds into ~24,084 SOL, then moved ~1,000 ETH to Ethereum.
Aquifer is offering a 20% bounty if 80%+ of the funds are returned by September 3.
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Two Thai businessmen allege Tether froze 42.4M USDT in October 2025 after receiving an informal request from a Homeland Security agent.
The plaintiffs argue Tether cannot freeze, burn or reissue tokens they purchased on the open market.
They are seeking the release of the funds, accumulated yield and damages.
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Scammers are impersonating Coinbase Support and targeting older adults through social engineering calls.
Coinbase says it will never ask users to share passwords, 2FA codes or seed phrases, or transfer funds to a “safe” wallet.
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A holder reportedly sold 270 Telegram anonymous numbers for around $2,000 each — roughly $540,000 in total — well below their market value.
According to an unverified claim from a Chinese investor, armed men allegedly broke into the owner’s home, assaulted him and forced him to sell the numbers before transferring the proceeds to them.
The reported incident has not been independently confirmed.
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Notional Finance’s escrow contract was reportedly exploited for over $1.7M.
$69K DAI and $1.66M USDC were drained, swapped for approximately 689 ETH, and deposited into Tornado Cash.
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~1,147 ETH was reportedly stolen from GoMining-related wallets, with 600+ users allegedly affected.
The wallets were reportedly accessed overnight, leaving some users claiming they lost their entire crypto holdings.
GoMining has not yet publicly confirmed the reported figures.
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A threat actor is reportedly selling an “unleaked” toolkit designed to trick Ledger and Trezor users into signing malicious transactions.
The kit allegedly supports multiple chains, custom recipient addresses, SMS-based social engineering and one-click transfers.
A demo reportedly showed a 5 ETH Trezor transaction request.
Authenticity and effectiveness remain unverified.
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The victim had held cryptocurrency for five years before connecting their wallet to a fraudulent crypto exchange.
Shortly after, the victim’s entire 185 ETH balance was drained, resulting in a loss of approximately $461,000.
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Authorities say the attackers targeted a crypto wallet believed to contain significant Bitcoin assets. Two suspects were arrested within hours.
The case highlights the growing security risks associated with self-custodied cryptocurrency.
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A crypto protocol has reportedly been drained of approximately 4,000 BTC ($319M) in a suspected exploit.
The transaction reportedly included an on-chain message from the actors stating: “we are whitehats onchain.”
The identity of the protocol, the cause of the incident and whether the funds were genuinely recovered or stolen remain unclear.
TX:
c103de95817b43f2df635ec6f35ff126ca26a7c6d20570c4b01866b2b3e69a19🦎 LizardSwap.com — Your #1 Crypto Exchange for NO KYC & No Frozen Funds
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The attackers asked the protocol to fix all bugs before they transfer the funds back, telling the team to contact them once everything is resolved.
The protocol confirmed all bugs have been fixed, but no BTC has been returned so far.
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Malone Lam is reportedly set to plead guilty tomorrow in the $263M crypto heist case.
Prosecutors allege he used social engineering to steal more than 4,100 BTC from a single victim.
The hearing was recently changed to a change-of-plea hearing.
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