• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Fraudsters use front man services to bypass KYC

Fraudsters use front man services to bypass KYC

user avatar

by dapp_writer005

3 years ago


According to information, provided by blockchain security company CertiK, scammers are increasingly using front men when launching cryptocurrency projects. Fraudsters find them on the darknet website, in various closed Telegram channels, Discord and in underground markets. The cost of this service is only $8. The price can go up to $20-30 if user verification is required.

There is nothing surprising in the fact that scammers use the services of figureheads, because the profit from various schemes with digital currencies can be millions of dollars. CertiK experts stated that the cost of the verification service may vary. It all depends on the nationality of the figurehead. In a country where the level of risk of money laundering is lower, the price of verification will be higher.

Fraudulent startups may hire front men for the CEO role. But the price for this service will be much higher. Approximately $500 per week. Also, on the expanses of the darknet, they often use the exchange of cryptocurrencies for fiat money. 

Earlier, information came out that BNB Chain is most often used to launch fraudulent crypto projects. This year, the number of such projects in all blockchains has exceeded 100,000.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Google's Gemini Dominates AI Market Predictions with 86 Odds

chest

Google's Gemini has surged to the forefront of AI market predictions, boasting an 86% probability of being the best AI by 2025.

user avatarBayarjavkhlan Ganbaatar

Remittix DeFi Project Gains Traction

chest

The Remittix DeFi project is making significant strides in the cryptocurrency market by developing a payment rail aimed at the multitrillion-dollar cross-border payments sector.

user avatarElias Mukuru

FedWatch Tool Predicts Interest Rate Stability in January 2026

chest

The FedWatch tool indicates a 756% probability of unchanged interest rates and a 244% chance of a rate cut in January 2026, suggesting limited expectations for rate adjustments.

user avatarMohamed Farouk

SPX6900 Gains Traction as a Trending Meme Coin

chest

SPX6900 is gaining attention with its steady growth and community-driven development, becoming a viable option for diversifying crypto portfolios.

user avatarDiego Alvarez

Ukrainian Drone Strike Disrupts Russian Oil Production

chest

Ukrainian drone strike on Filanovsky oil field disrupts Russian oil production, causing significant losses for Kazakhstan.

user avatarKenji Takahashi

Digital Infrastructure Revolutionizing Finance: Insights from Matthew Le Merle

chest

Matthew Le Merle discusses the evolution of digital infrastructure in finance, highlighting the shift from traditional payment systems to digital equivalents.

user avatarMaria Fernandez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.