• 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

Zhu Juntao Faces Fraud Charges Nearly Four Years After Hodlnaut's Collapse

chest

Zhu Juntao, cofounder of Hodlnaut, faces fraud charges nearly four years after the platform's collapse.

user avatarTenzin Dorje

XRP Crowd Sentiment Deteriorates to FUD Zone

chest

XRP's crowd sentiment has significantly declined, reaching its weakest level in three weeks, with a ratio of 11 bullish comments for every 1 bearish comment, placing it in a historically relevant FUD zone.

user avatarBayarjavkhlan Ganbaatar

TrapDoor Malware Targets Crypto Wallets and Developer Secrets

chest

The TrapDoor malware is designed to steal data from major crypto wallets and developer credentials.

user avatarMohamed Farouk

Dogecoin Faces Critical Support Level at 01020

chest

Crypto analyst Ali Martinez highlights the importance of the 01020 level for Dogecoin to avoid a bearish trend.

user avatarElias Mukuru

Charles Hoskinson Affirms Focus on Cardano and Midnight

chest

Charles Hoskinson reaffirms his commitment to Cardano and Midnight following the closure of his health clinic project.

user avatarDiego Alvarez

Cardano's Treasury Vote Yields Mixed Outcomes

chest

The recent treasury vote within Cardano's governance system revealed mixed results, with several proposals receiving approval while others fell short of the required support.

user avatarKenji Takahashi

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.