• 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

4 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

Chainlink's Smart Value Recapture Solution Dominates DeFi Market

chest

Chainlink's Smart Value Recapture (SVR) solution has rapidly gained a 99% market share in capturing oracle-related Maximal Extractable Value (MEV) within the DeFi ecosystem.

user avatarMaria Fernandez

Chainlink Staking Ecosystem Approaches Pivotal Moment Amid Regulatory Clarity

chest

The Chainlink staking ecosystem may expand significantly if the Clarity Act provides the necessary legal framework for revenue sharing with stakers.

user avatarGustavo Mendoza

Rep. Nick Begich Proposes New Legislation for Bitcoin Reserve

chest

Rep. Nick Begich introduced the American Reserve Modernization Act (ARMA) to establish a federal strategic reserve for Bitcoin, aiming to fulfill a campaign promise of President Trump and provide a legal framework for digital assets.

user avatarRajesh Kumar

Chainlink's Price Stabilization Efforts Amid Market Pressure

chest

Chainlink shows signs of stabilization around the 920 support level despite trading pressures.

user avatarMiguel Rodriguez

Chainlink Faces Price Decline Amidst Unprecedented Network Activity

chest

Chainlink's price has dropped below the 10 mark, despite a significant spike in active addresses indicating unusual network activity.

user avatarLuis Flores

New Bitcoin Buying Opportunities Emerge After MVRV Shift

chest

Recent analysis indicates that the Bitcoin MVRV ratio has dropped, suggesting new buying opportunities for investors.

user avatarArif Mukhtar

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.