• 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

Bitrefill Discloses Cyberattack Details

chest

Bitrefill disclosed details of a cyberattack on March 1, 2026, involving compromised employee credentials and unauthorized access to its database.

user avatarEmily Carter

SEC Introduces New Rules for Bitcoin ETF Collateral Use

chest

The SEC has introduced new rules allowing Bitcoin ETF holdings to be used as collateral for margin trading, enhancing institutional integration of Bitcoin.

user avatarTomas Novak

Strategy Boosts Bitcoin Holdings with $1.5 Billion Acquisition

chest

Strategy has raised over $1.5 billion to acquire an additional 22,337 Bitcoin, increasing its total holdings to approximately 761,068 BTC, solidifying its position as the largest corporate holder of Bitcoin.

user avatarKaterina Papadopoulou

XRP Ledger Achieves Milestone with Over 77 Million Holders

chest

The XRP Ledger has reached over 77 million holders and is experiencing a surge in daily transactions, indicating significant adoption.

user avatarMaya Lundqvist

Senator Warren Raises Alarms Over xAI's Pentagon Access

chest

Senator Elizabeth Warren raises concerns over xAI's access to Pentagon's classified networks due to security risks associated with the Grok chatbot.

user avatarLeo van der Veen

Oil Prices Surge Amid Geopolitical Tensions from Iran Conflict

chest

Oil prices have surged due to supply concerns from the Iran conflict, with predictions indicating further increases.

user avatarLi Weicheng

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.