• 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

BlackRock Halts Bitcoin Selloff with Significant Inflows

chest

BlackRock has paused its massive Bitcoin selloff after four consecutive days of outflows, recording an inflow of 159 million, the highest by any asset manager in the ETF market.

user avatarKaterina Papadopoulou

Bitcoin Experiences High Outflows Amid Institutional Activity

chest

Bitcoin continues to face volatility, with significant outflows from various funds totaling 146 billion or 16,300 BTC in the last 30 days. Despite this, business intelligence firm Strategy announced the purchase of an additional 2,932 BTC valued at over 264 million, offering a glimmer of hope to the market that not all institutional holders are selling off their assets.

user avatarMaya Lundqvist

Binance Cuts Margin Trading Options for 10 Altcoins

chest

Binance will remove 10 BTC-denominated trading pairs from margin trading options on January 30, affecting altcoins like Decentraland and Synthetix.

user avatarTomas Novak

Market Analysts Predict Bright Future for HYPE Coin

chest

Market analysts express optimism regarding HYPE Coin's potential growth, emphasizing key support levels and targets.

user avatarLeo van der Veen

Trump's Speech in Iowa Highlights Affordability, No Impact on Crypto Markets

chest

On January 27, 2026, President Donald Trump delivered a speech in Clive, Iowa, focusing on affordability issues, with minimal impact on cryptocurrency markets.

user avatarLi Weicheng

Bitcoin-Silver Ratio Returns to Post-FTX Levels, Raising Concerns

chest

The Bitcoin-silver ratio has returned to levels seen after the FTX collapse, triggering strong reactions among traders.

user avatarAisha Farooq

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.