• 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

Investors Suffer Significant Losses in Trump Family Crypto Ventures

chest

Investors suffer significant losses in Trump family crypto ventures, totaling approximately $1.5 billion.

user avatarMaria Gutierrez

Trump Family Allegedly Earned $23 Billion from Crypto Ventures

chest

A Reuters investigation claims the Trump family generated $23 billion from four main crypto projects, while investors faced similar losses.

user avatarDavid Robinson

SBI Group Accelerates Expansion in the Crypto Sector

chest

SBI Group is accelerating its expansion in the crypto sector with new products and partnerships.

user avatarAndrew Smith

SBI Shinsei Bank to Launch Cryptocurrency Rewards Program for Depositors

chest

SBI Shinsei Bank is launching a cryptocurrency rewards program for depositors this fall, offering vouchers based on account balances.

user avatarJacob Williams

US Military Responds to Helicopter Incident with Strikes on Iran

chest

The US conducted military strikes against Iran in response to the downing of an American helicopter near the Strait of Hormuz.

user avatarZainab Kamara

Ethereum's Profitability Profile Declines in Current Cycle

chest

Ethereum's supply carrying a gain of more than 300 has significantly decreased, hitting a low not seen since February 2017 due to bearish market conditions.

user avatarAyman Ben Youssef

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.