• 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

Bitcoin Miners Experience Significant Gains Amid AI Boom

chest

Bitcoin mining companies are experiencing significant stock valuation increases due to the rise of artificial intelligence technology, with companies like IREN and Cipher Mining reporting over 300% growth.

user avatarJesper Sørensen

Companies Invest in AI to Boost Bitcoin Mining Efficiency

chest

Companies like IREN and Cipher Mining are investing in AI technologies to enhance operational efficiency and profitability in Bitcoin mining.

user avatarRajesh Kumar

Zcash Traders React to Market Drop Amid Significant Volatility

chest

Zcash has faced a sharp decline in value, dropping more than 32% this week, prompting traders to monitor the 297-311 range amid significant market volatility.

user avatarLucas Weissmann

BubbleMaps Warns Investors About PIPPIN Meme Coin Risks

chest

BubbleMaps warns investors about the risks of the PIPPIN meme coin, labeling it a 'ticking time bomb' due to potential manipulation and insider control.

user avatarEmily Carter

Circle Launches Foundation to Enhance Financial Inclusion

chest

Circle has launched the Circle Foundation to promote financial inclusion through Community Development Financial Institutions.

user avatarFilippo Romano

Luma AI and Humain Join Forces for Project Halo in Saudi Arabia

chest

Luma AI and Humain are partnering to build a 2GW AI supercluster called Project Halo in Saudi Arabia.

user avatarKofi Adjeman

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.