cryptoscamalert

🚨 Scam Alert: Fake CoinMarketCap Tokens Are Circulating
The crypto market is witnessing an increase in fake tokens falsely claiming an association with CoinMarketCap. These assets are not issued, supported, or endorsed by CoinMarketCap in any form. Investors are urged to stay alert and verify information carefully before interacting with such tokens.
Scammers are deliberately using well-known brand names to create trust and attract liquidity. By exploiting the reputation of major crypto platforms, these fake projects attempt to appear legitimate while offering no real value or transparency.
🛑 How These Scam Tokens Operate
Fake tokens often follow a similar pattern:
Using recognizable platform names to gain visibilityRunning misleading marketing campaigns suggesting official partnershipsDesigning token structures that benefit creators at the expense of investors
At first glance, these tokens may look attractive, but they typically carry a high risk of sudden losses and lack sustainable development or real use cases.
📉 Market Impact and Investor Risks
The spread of impersonation tokens highlights several important concerns:
Scam activity is becoming more sophisticatedRetail investors are increasingly targetedBrand misuse can damage trust across the crypto ecosystem
If not identified early, these schemes can lead to capital loss and unnecessary market confusion.
🧠 How to Stay Safe in the Crypto Market
To reduce risk when evaluating new tokens:
Verify information through official websites and announcementsDouble-check token contract addresses from trusted sourcesBe cautious of assets claiming ties to major platforms without confirmation
In crypto, caution and independent research remain essential tools for protecting capital.
🔖 Hashtags
#CryptoScamAlert
#CryptoSecurity
#InvestorAwareness
#CoinMarketCap
#BinanceSquare

If the stock market is a calm river, then Crypto is an ocean in a fierce storm. The saying "Crypto is not for the faint of heart" is not a joke, but a stark truth about the brutal nature of this market.
1. Wild fluctuations
In traditional markets, a 5-10% drop is a major event. But in Crypto, having your account cut in half or by a third (a 50-70% drop) overnight is a "common occurrence." Conversely, increases of several hundred percent also happen in the blink of an eye. The feeling of watching your assets evaporate or multiply quickly continuously stretches human psychology like a guitar string.

#CryptoScamAlert
Telegram shuts down $27B Huione crypto scam market but rivals surge 400% as Tudou Guarantee absorbs criminal user base within weeks.
Telegram shutting down Huione Guarantee, the largest illicit marketplace in history, with over $27 billion in transactions, paradoxically strengthened the dark market as rival platforms experienced a 400% volume surge and quickly absorbed the criminal user base.
Following blockchain analytics firm Elliptic’s investigation, Telegram banned thousands of channels and accounts linked to Huione on May 13, 2025.
However, the successor platform, Tudou Guarantee, immediately captured the displaced criminal activity, processing equal volumes within weeks of the shutdown.

Elliptic tracked over 30 highly active guarantee marketplaces in Southeast Asia that continue to facilitate money laundering, stolen data trading, and “pig butchering” scam infrastructure.
The Hydra Effect: How Huione Multiply Under Pressure
The $27 billion Huione marketplace had operated as a sophisticated criminal ecosystem, offering everything from fake documents and stolen personal data to money laundering services and intimidation-for-hire through Telegram’s encrypted infrastructure.
The platform’s reach extended far beyond simple financial crime, with ties to human trafficking operations disguised as legitimate IT companies across Cambodia, Laos, and Myanmar, where victims were forced to execute romance scams and crypto fraud under constant surveillance.
Huione has been connected to Cambodia’s ruling elite and its role in laundering proceeds for North Korea’s Lazarus Group. This made it a primary target for the U.S. Treasury’s FinCEN, which designated the entire Huione Group as a money laundering concern in May 2025.
The criminal enterprise strategically acquired a 30% stake in Tudou Guarantee in December 2024, effectively ensuring operational continuity before enforcement action materialized.

This planning enabled the seamless migration of hundreds of thousands of users. Tudou’s transaction volumes surged from negligible levels to over 300,000 by June 15.
The same merchants who previously operated through Huione immediately established operations on Tudou, offering identical services, including stolen data, money laundering capabilities, and specialized tools for pig butchering scams targeting Western victims.
Beyond Tudou’s dominance, multiple smaller platforms experienced exponential growth as the criminal ecosystem fragmented and diversified.
According to Elliptic, Shuangying marketplace saw user numbers triple from 40,000 to 110,000 transactions, and Fully Light expanded from 20,000 to over 80,000 transactions.

These platforms use Telegram’s encryption for communication and comprehensive business operations, including reputation management, order fulfillment, and dispute resolution among vendors and clients.
They also use Tether’s USDT stablecoin as the primary medium of exchange, which provides these criminals with dollar-denominated stability while avoiding traditional banking systems.
The UN estimates that Telegram-based criminal activity generates up to $36.5 billion annually through scams, money laundering, and stolen data sales.
Ongoing Enforcement Challenges On Telegram’s Encrypted Crime Economy
Despite Telegram’s cooperation in removing thousands of channels and banning associated accounts, Chainalysis research revealed that Huione’s core cryptocurrency processing infrastructure remained operational, which Elliptic also confirmed.

The platform is simply migrating to new domains and quietly resuming Telegram’s presence within weeks of the apparent shutdown.
This resilience stems from the platform’s complex architecture, which separates public-facing marketing infrastructure from core financial processing systems. This allows criminal operations to continue even when their most visible components face disruption.
The enforcement action’s limited impact becomes particularly evident when examining the broader criminal ecosystem that Huione enabled, including forcing trafficking victims into crypto scam operations across Southeast Asian compounds where legitimate job seekers are lured with false IT positions before being held against their will and coerced into executing fraudulent schemes.

These physical operations, often disguised as customer service centers, create a hybrid criminal model that combines digital financial crime with traditional human trafficking, making comprehensive enforcement exponentially more complex as it requires coordination across multiple jurisdictions and crime categories.
While Telegram has begun responding to pressure by removing certain features and updating content policies, the platform’s core encrypted messaging capabilities remain attractive to criminals who exploit the technology’s legitimate privacy protections to operate sophisticated marketplace ecosystems.
The challenge for regulators lies in addressing criminal abuse without undermining the privacy rights and communication security that make encrypted platforms valuable for legitimate users worldwide.
Telegram CEO Pavel Durov is also fighting this battle with the regulators. He was recently arrested and released on bail, but surveillance remains.

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I almost lost everything — don’t make the same mistake.

Last month, I opened my wallet expecting a $USDT payment…

Instead, I saw THIS:

⚠️ “Pay a 20% activation fee to unlock your funds.”

The balance was visible. The message looked legit.

But here’s the truth: IT WAS 100% FAKE. 😨

🤯 THE SCAM?

I was unknowingly connected to a fraudulent custom RPC node — created to show fake funds and bait users into sending real money to “unlock” them.

🚫 Don’t Fall for It — Here’s How to STAY SAFE:

1️⃣ NEVER use custom nodes from random sources

→ If someone DMs you saying “just add this RPC”, BLOCK them.

2️⃣ Double-check balances on BscScan / Etherscan

→ If funds show in your wallet but NOT on-chain —

💥 You’re being scammed.

3️⃣ “Activation fees” = 🚩BIG SCAM

→ Real crypto wallets don’t charge fees to show your funds.

🛡️ My New Safety Stack:

✅ Only default RPCs (MetaMask, TokenPocket, TrustWallet)

✅ Verify everything on-chain

✅ Never ever pay to “unlock” anything

📢 Scammers are evolving.

They’re not just phishing — they’re building fake universes inside your wallet.

💡 Don’t be the next victim.

📲 Share this. Someone in your circle needs to see it.

Investors have filed a lawsuit against Phantom and OKX after hackers stole over $500,000 from Liam Murphy's wallet, leading to the failure of the Wiener Doge project.
The lawsuit claims that Phantom stored private keys in the browser's memory and that OKX allowed the token exchange that helped the hacker execute the theft.
Security experts have accused Phantom of ignoring vulnerability reports.

Security Breach Led to Huge Losses
Phantom Technologies and the cryptocurrency exchange OKX are being sued for a security breach that resulted in the loss of over $500,000 in digital assets. The lawsuit, filed in the Southern District of New York, states that Phantom's wallet design exposed users to cyber-attacks.
Liam Murphy, the plaintiff's legal representative, stated that the Phantom browser extension had exploitable holes that hackers used to drain his crypto, leading to the failure of his Solana-based project known as Wiener Doge. After the attack, the value of the token plummeted by nearly 99%, from over $3 million to less than $0.01 per token.

Phantom Mismanaged Wallet Security
According to the lawsuit, Phantom allegedly mishandled the security of its wallet. The company is said to have stored users' decrypted private keys in the browser's memory, which violated basic security protocols, including two-factor authentication.
The allegations suggest that the attacker exploited Phantom's built-in Swapper function to exchange Wiener Doge tokens for Solana (SOL), which ultimately caused the project's collapse. As a result, the price of Wiener Doge, initially $3.10 per token, fell to under $0.01.

OKX Involved in the Theft
The lawsuit also accuses the cryptocurrency exchange OKX of playing an active role in the illegal liquidation of Murphy's account. According to the plaintiffs, OKX's trading infrastructure allowed the hacker to move assets from Phantom using the wallet integration.
The plaintiffs argue that OKX knew that Phantom's Swapper tool operated as an unregistered intermediary with the CFTC. The complaint also claims that the stolen tokens were converted to SOL through OKX's routing and pricing structures. Without OKX's involvement, the hacker would not have been able to liquidate the stolen assets.

Missing Security Protocols
Liam Murphy and 13 other individuals who invested in Wiener Doge are suing for damages based on the token's peak value. They also argue that primary protocols, such as speed checks and geolocation anomaly detection, which should have been implemented on exchanges like Coinbase, were missing.

OKX's History of Legal Issues
The lawsuit also references OKX's previous legal troubles, including its guilty plea in a federal case involving $5 billion in money laundering. This case illustrates the exchange's repeated failure to comply with regulatory standards.

Phantom Ignored Warning About Vulnerabilities
According to the plaintiffs, Phantom was fully aware of the risks of storing private keys in the browser's cache. Security experts argue that Phantom knew new users were frequent targets of phishing attacks and malware, yet failed to act appropriately.

Security Researchers Criticize Phantom
Security researcher Cloakd recently stated that Phantom never responded to him despite informing them about an application flaw. He claimed he waited over 28 days for a response while the risk to users continued to grow. Phantom denied the allegations regarding the compromise of user funds.

Another developer, Andy from Taptrade, supported Cloakd's statements and said that despite submitting several vulnerability reports to Phantom, he never received any reply. Both analysts criticized Phantom for its careless approach to security.
This lawsuit highlights serious security issues that could have long-term consequences for cryptocurrency users, raising questions about whether adequate measures were taken to protect investments from cyber-attacks.

#CryptoScamAlert , #OKX , #CryptoSecurity , #blockchain , #CryptoNewss

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“