• 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

Market Analysis and Projections for AVAX Through 2030

chest

Analysts provide various projections for AVAX prices through 2030, highlighting the uncertainty and factors influencing these predictions.

user avatarLucas Weissmann

ZachXBT Uncovers $23M Wallet Linked to $90M Theft

chest

Crypto investigator ZachXBT uncovers a $23 million wallet linked to a $90 million theft, highlighting vulnerabilities in crypto security.

user avatarFilippo Romano

Saudi Arabia Unveils Lighthouse Operating System for Manufacturing Transformation

chest

Saudi Arabia's Ministry of Industry and Mineral Resources announced the Lighthouse Operating System to accelerate manufacturing transformation and diversify the economy.

user avatarEmily Carter

Saudi Arabia and WEF Sign Cooperation Agreement on Critical Minerals

chest

Saudi Arabia's Ministry of Industry and Mineral Resources signed a cooperation agreement with the World Economic Forum to secure sustainable supplies of critical minerals through 2027.

user avatarKaterina Papadopoulou

Launch of Business4Land Champions Council to Accelerate Land Restoration

chest

Launch of the Business4Land Champions Council to mobilize private sector leadership for land restoration and drought resilience.

user avatarTomas Novak

Saudi Arabia to Host First Global Coral Reef Summit in 2026

chest

Saudi Arabia will host the first Global Coral Reef Summit in 2026 to address urgent challenges related to coral reef ecosystems.

user avatarMaya Lundqvist

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.