• 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

White House Instructs Agencies to Prepare for Shutdown

chest

White House instructs federal agencies to prepare for an orderly shutdown due to Congress missing the funding deadline.

user avatarMaria Gutierrez

Zcash Faces Key Support Test Amid Governance Changes

chest

Zcash is testing major support levels while undergoing governance changes aimed at improving stability.

user avatarAndrew Smith

ZKP Emerges as Leading Crypto for AI Infrastructure

chest

ZKP, a privacy-focused AI network, is gaining attention for its potential in the digital asset market.

user avatarDavid Robinson

PEPE's Volume Activity Reflects Stability in Trading

chest

PEPE's trading volume showed brief spikes without sustained expansion, indicating stability in the cryptocurrency market.

user avatarMohamed Farouk

PEPE Faces Resistance as Price Action Remains Controlled

chest

PEPE's price action was limited by a resistance level at 0055086, resulting in a narrow trading range.

user avatarBayarjavkhlan Ganbaatar

IG Group to Launch Crypto Trading Services Following Acquisition

chest

IG Group plans to launch crypto trading services in Singapore, Australia, and the UAE following its acquisition of Independent Reserve, targeting retail investors and aiming for a 2026 launch.

user avatarJacob Williams

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.