• 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

IPO Genie Launches Utility-First Crypto Presale

chest

IPO Genie has launched a presale for its IPO token, focusing on utility and access to private market opportunities.

user avatarMiguel Rodriguez

Grayscale Registers New ETFs in Delaware, Signaling Future Expansion

chest

Grayscale Investments has registered two new ETFs in Delaware, indicating potential future expansion in the cryptocurrency market.

user avatarArif Mukhtar

Trump Supports Iranian Freedom Amid Military Strike Discussions

chest

Trump expresses support for Iranian freedom amid discussions of potential military strikes.

user avatarLuis Flores

Institutional Interest in Bitcoin ETFs Resurges Amid Market Fluctuations

chest

The resurgence of institutional entries into US spot Bitcoin ETFs is seen as a positive signal for Bitcoin's long-term expectations.

user avatarMaria Gutierrez

OBBBA Legislation to Reshape Renewable Energy Project Financing

chest

The One Big Beautiful Bill Act (OBBBA) introduces new regulations affecting renewable energy project financing in the United States, effective July 4, 2026, imposing stricter rules on foreign components and creating a two-tier market for developers.

user avatarKofi Adjeman

AI Bot Truth Terminal Successfully Negotiates Bitcoin Grant

chest

In a remarkable episode, AI bot Truth Terminal successfully negotiated a 50,000 Bitcoin research grant with Marc Andreessen in July 2024, proposing experiments and requesting funding without a formal business plan.

user avatarAndrew Smith

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.