• 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

Crypto Industry Faces Job Cuts as AI Adoption Accelerates

chest

Major crypto firms are downsizing their workforce due to AI adoption, with significant job cuts reported across the industry.

user avatarKofi Adjeman

Egrag Crypto Predicts Bullish Surge for XRP

chest

Prominent market analyst Egrag Crypto predicts a potential price surge for XRP to $22, based on a bullish W pattern in the market.

user avatarNguyen Van Long

Concerns Rise Over Bitcoin's Correlation with SP 500

chest

Market analyst Tony Severino warns of potential Bitcoin downturn due to correlation with the SP 500.

user avatarSatoshi Nakamura

Impact of US Midterm Elections on Bitcoin Price

chest

Analysis of Bitcoin's performance during US midterm elections and its potential impact on price.

user avatarJesper Sørensen

Bitcoin Price Recovery Amid Geopolitical Tensions

chest

Bitcoin has been on a steady recovery journey over the past few weeks, with several attempts at a sustained break above the 74,000 level, despite ongoing geopolitical tensions.

user avatarRajesh Kumar

Solana Faces Mixed Signals as Price Tightens

chest

Solana's price is showing mixed signals as it tightens beneath key resistance levels, with early signs of momentum weakness emerging.

user avatarFilippo Romano

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.