• 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

Alameda Research Unstakes $17 Million in Solana Tokens

chest

Alameda Research has unstaked approximately $17 million worth of SOL tokens and transferred them to its bankruptcy-controlled accounts as part of its asset management process.

user avatarMaria Gutierrez

Solana Attempts Stabilization After Recent Decline

chest

Solana is showing early signs of stabilization as it attempts to defend the 85 support level amidst a broader bearish trend.

user avatarDavid Robinson

XRP Futures Market Shows Gradual Improvement in Buy-Side Pressure

chest

Recent analysis indicates a slight advantage for buyers in the XRP futures market, suggesting easing selling pressure.

user avatarAndrew Smith

Analysts Forecast Solana Price Recovery to $100

chest

Analysts are optimistic about Solana's potential to recover to the $100 level, driven by ETF momentum.

user avatarJacob Williams

Solana ETFs Break Records Amid Price Downtrend

chest

Solana Spot ETFs have achieved remarkable success, accumulating $15 billion in net inflows since their launch in July 2025, despite a significant price decline.

user avatarZainab Kamara

Google Launches Groundsource for Enhanced Flash Flood Predictions

chest

Google has launched Groundsource, an AI system for predicting flash floods by analyzing historical news articles to improve disaster preparedness.

user avatarSon Min-ho

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.