Alleged Misappropriation
A 31-year-old woman is facing charges for allegedly stealing $4.2 million in cryptocurrency. Authorities believe she diverted the funds from a company’s account into her own digital wallets. The funds were reportedly used to purchase items like a car, accessories, and white slippers.
Investigation and Charges
The investigation began after the company filed a complaint last year. Police found that the funds were transferred between May and August 2022. The woman is expected to face charges under the Corruption, Drug Trafficking, and Other Serious Crimes Act, which could result in up to 10 years in prison and fines.
Crypto Scams on the Rise
The Commodity Futures Trading Commission (CFTC) has issued a warning about the rise of crypto scams using artificial intelligence (AI). Scammers are using AI-powered algorithms to promise unrealistic returns on cryptocurrency investments. The CFTC emphasizes that AI cannot predict the future or market changes.
Phishing Scams a Growing Threat
A recent report from Scam Sniffer reveals that phishing scams stole around $300 million in cryptocurrencies in 2023. The US Secret Service has also confiscated $500,000 in digital currency linked to an investment scam from Southeast Asia.
