• 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

Uniswap Achieves Milestone of 4 Trillion in Trading Volume

chest

Uniswap Labs announced this week that the protocol has surpassed 4 trillion in cumulative trading volume across 2,586 days.

user avatarSon Min-ho

Aave DAO Restructures Multichain Strategy

chest

This week, Aave DAO passed a Temperature Check to restructure its multichain strategy, focusing on revenue generation.

user avatarAndrew Smith

Base Launches CrossChain Bridge with Solana

chest

Base has officially deployed its crosschain bridge, allowing asset transfers between Base and Solana ecosystems.

user avatarJacob Williams

Farcaster Shifts Focus from Social Media to Wallet Technology

chest

Farcaster, a decentralized social media protocol, is pivoting its strategy to prioritize wallet technology over social features.

user avatarTando Nkube

Farcaster's New Vision: Wallet-Centric Development

chest

Farcaster is transforming its wallet from a supporting feature into the main focus of its development efforts, prioritizing wallet creation and management for a more accessible and user-friendly experience.

user avatarKofi Adjeman

BlockDAG Raises 370M in Presale with X1 and X10 Demos

chest

BlockDAG has successfully raised over 370 million in its presale, showcasing its readiness for launch with the X1 app and X10 demo.

user avatarNguyen Van Long

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.