Crypto scam reporting needs to move ‘under one umbrella’ — Coinbase CSO

The reporting of crypto scams in the United States is currently handled by a patchwork of agencies that should be streamlined to better protect consumers, says Coinbase chief security officer Philip Martin. “It’s a very fragmented ecosystem. Where do you report these things? Well, you go here, you go there, you go somewhere else,” Martin told Cointelegraph at the SXSW conference in Austin, Texas. “I’d love to see that addressed and really brought under one umbrella, and that then helps us get a better idea of the magnitude of the…

Mt. Gox moves 11,501 Bitcoin to unmasked wallet after price drops below $77,000

Key Takeaways Mt. Gox transferred 11,501 Bitcoin, worth about $905 million, to an unmasked wallet after a test transfer to BitGo. Mt. Gox still holds over 35,915 Bitcoin, valued at approximately $2.8 billion at current market prices. Share this article Mt. Gox, the now-defunct crypto exchange, transferred 11,501 Bitcoin, worth approximately $905 million, to an unmasked address in the past hour, following a 166 BTC transfer to BitGo last Friday, according to data from Arkham Intelligence. These transfers came after Mt. Gox moved over $1 billion in Bitcoin to a…

California financial regulator warns of 7 new types of crypto, AI scams

A California financial regulator says users reported seven new types of crypto and AI scams that it hadn’t seen before through thousands of complaints in 2024.  The California Department of Financial Protection and Innovation (DFPI) said in a March 10 statement that it received 2,668 complaints in 2024 and found seven types of scams they didn’t have on record yet, such as fake Bitcoin (BTC) mining schemes, where fraudsters offer fake investments in mining.  The DFPI also received complaints about fake crypto gaming schemes, where users are encouraged to deposit…