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Long Island Man Handed 18-Year Sentence for Orchestrating $12 Million Crypto Scam

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  • Eugene William Austin Jr., a Long Island man, along with his son Brandon, has been convicted in a crypto scam that defrauded over 24 victims. The duo posed as cryptocurrency brokers, deceiving investors with false promises of high returns.
  • The court sentenced Austin to 18 years in prison, ordered him to repay $12.66 million, forfeit over $6 million, and surrender a luxury Jaguar SUV used during the scheme.

A man from Long Island, the southeastern part of New York, has received an 18-year prison term for taking part in a $12 million crypto scam. He was found guilty of tricking investors and misusing their funds, leading to a major financial loss for all parties involved.

The 62-year-old culprit, Eugene William Austin Jr., who also went by the name Hugh Austin, was given 18 years in jail and three years of monitored freedom for cooperating with his son and running a crypto scheme that tricked over 24 people out of $12 million.

How the Crypto Scam Was Carried Out and Court Sentences

Austin, with his son Brandon, acted as crypto middlemen; they pretended to help arrange bulk crypto transactions with different promises of short-term gains on their crypto asset investments. They also claimed they could help secure backing for new companies through ‘their’ wealthy connections. One of their fake deals alone got them $5 million, with others around $500,000.

Over 24 individuals, including family and longtime associates, were deceived. And instead of investing the funds, Austin and Brandon spent the cash on five-star hotels, luxury dining, designer shopping, expensive car rentals, and small repayments to victims to keep the scheme going.

In addition to his sentence, the court ordered Austin to return $12,662,564 and forfeit $6,062,564 plus a 2022 Jaguar SUV taken during his arrest. His son has already been sentenced to four years in prison.

According to the Department of Justice, every person who gave loans or funds for these fake ventures ended up losing their money.

Related Reading | Ethereum’s Pectra Upgrade Is Coming, But What Changes Will It Bring?

Phishing Scam Targets Crypto Leaders via Fake Zoom Calls and Downloads Trap

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  • Manta Network’s co-founder, Kenny Li, narrowly avoided a Zoom phishing scam on April 17.
  • Jake Gallen suffered a loss of over $100K in assets after falling victim to a similar Zoom phishing attack on April 11.
  • Li advises crypto leaders to avoid unexpected downloads or software updates during video calls to protect against such attacks.

Crypto industry insiders are increasingly becoming the target of sophisticated cyber scams, including phishing scam, with the latest troubling incident involving Manta Network’s co-founder, Kenny Li. Recently, Li experienced a highly convincing attempt to trick him during a Zoom call. 

On April 17, Li detailed the incident through an X post, revealing how attackers used authentic video footage of a familiar individual to trap him. The meeting looked genuine, but there was no audio and soon a prompt appeared, pushing him to download a suspicious script

I could see their legit faces. Everything looked very real. But I couldn’t hear them. It said my Zoom needs an update. But it asked me to download a script file. I immediately left,” Li shared.

After exiting the meeting, Li contacted the impersonator through Telegram and requested a call for verification. The person did not respond and instead deleted all previous messages and blocked him. Li later confirmed that the real person whose face appeared in the meeting had been hacked by the Lazarus Group, a known cybercrime organization.

Zoom Phishing Scam Hits Crypto Leaders

This Zoom phishing tactic doesn’t target only Li. On April 11, Jake Gallen, CEO of Emblem Vault and a well-known podcaster and NFT collector, reported that he lost over $100,000 in digital assets, including Bitcoin and Ether, due to a similar phishing scam carried out through a Zoom meeting.

Gallen said his computer was completely compromised after he joined a video call and followed a link to download Zoom, even though it was already installed on his system.

Unfortunately, this led to $100k+ in purchased digital assets being lost,” he said.

Additionally, another community member from ContributionDAO had a similar run-in. The attackers insisted on downloading a specific version of Zoom, despite the victim already having the app installed. When the victim suggested switching to Google Meet for safety, the scammers refused outright.

Other prominent crypto leaders, such as Pixelmon CEO Giulio Xiloyannis and Devdock AI founder Melbin Thomas, among others, also reported recent attempted hacks with the same Zoom strategy.

Beware Sudden Downloads or Updates

Li warns that crypto leaders, regularly flooded with meetings and messages, could easily fall victim to these attacks. “These are hacks that play to your emotional connection and potentially mental fatigue,” he explained. He urged caution especially about downloading any sudden update or unknown file sent unexpectedly.

The biggest red flag will always be a downloadable. Whether it’s in the form of an update, an attachment, app, or anything else, if you need to download something in order to continue something with the person on the other side, don’t do it,” Li strongly advised.

As attackers continue refining methods to deceive crypto entrepreneurs, heightened awareness and caution remain the most effective defenses against these persistent cyber threats.

Related Readings | U.S. Secret Service and Canada Disrupt $4.3M Ethereum Approval Phishing Scam

Tether Freezes USDT Worth $870K Across Three Addresses Linked to Phishing Scam

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  • Tether froze $870,000 in USDT across three wallets that are connected to phishing scams, theft, and fraud.
  • Over time, the company has blocked over $1.3 billion in assets, collaborated with law enforcement in 40+ countries, and continues to enforce strict laws against criminal use of USDT.

Tether has frozen about $870,000 worth of USDT connected to theft, phishing scams, and pig butchering schemes. This action is part of the stablecoin ongoing push to stop illegal funds tied to crime and protect users from fraudulent activity.

On April 17, Tether froze $870,000 in USDT connected to phishing scams. The funds were kept in three separate wallets. According to SlowMist, a crypto tracing platform, the three addresses were used to move money from theft, scams, and pig butchering, although no further details were shared.

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Tether Freezes USDT Worth $870K Across Three Addresses Linked to Phishing Scam 2

Tether, which is one of the biggest stablecoin providers, has taken similar steps regarding scams and phishing. Over time, the blockchain platform has frozen billions linked to hacks, fraud, and other illegal actions.
The CEO, Paolo Ardoino, shared that more than $1.3 billion has been frozen so far for different reasons, some of which include the $1.6 million tied to terrorist funding.

Tether’s Previous Effort to Curb Scams


In recent years, Tether has continued to put in efforts to freeze suspicious wallets. In January 2022, Tether blacklisted three Ethereum wallets holding over $150 million in USDT. By October of that same year, it froze $8.2 million and later added 215 more addresses to its list.

Later in 2022, the total amount of frozen assets went above $360 million. In October 2023, the company blocked about $817,000 linked to terrorism in Ukraine and Israel. The next month, it froze another $225 million connected to romance scams.

Tether has over the years worked closely with global law enforcement and partnered with 24 agencies in over 40 nations. In 2023, it acted on 198 wallet block requests and 339 in the last three years. The firm also makes use of strict rules to stop blacklisted groups or people from using USDT. This shows the company’s interest in safety and following international laws.

Related Reading | Bitcoin Social Sentiment Turns Positive as Traders Eye Return to $90K

U.S. Secret Service and Canadian Police Disrupt $4.3M Ethereum “Approval Phishing” Scam

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  • U.S. and Canadian authorities disrupt a $4.3M Ethereum phishing scam.
  • Secret Service experts track and alert victims of compromised wallets.
  • Operation Avalanche prevents further losses in Ethereum approval phishing scam.

A collaborative U.S.-Canadian operation has blocked a $4.3 million approval phishing attack on Ethereum wallet users. The U.S. Secret Service and Canadian law enforcement agencies tracked down and notified the victims. The authorities identified multiple blockchain addresses that were compromised or vulnerable to exploitation.

Scammers use approval phishing to trick users to authorize token transfers after which the fraudsters access control and drain the wallets.. Criminals run these scams through social engineering methods such as the “pig butchering”  romance scheme. Once a victim validates malicious transaction requests the attackers acquire complete control of their assets.

Operation Avalanche

The operation code named ‘Operation Avalanche’ focused on fraudulent Ethereum network transactions. Investigators teamed up with blockchain analysts to identify the wallets affected in the phishing scheme. The team reached out to wallet holders to warn them about the threat and protect their assets.

The operation incorporated multiple law enforcement agencies across Canada and the U.S to stop the ongoing fraud. The B.C Securities Commission and the U.S. Secret Service steered the initiative. Moreover, provincial police forces and securities regulators contributed their skills and resources to the operation.

Analysts derived from the Washington Field Office of the Secret Service provided technical and forensic support for the investigation. The Canadian agencies teamed up with the Secret Service to identify stolen funds and curb future threats. This collaboration helped track transactions and the scammers’ techniques.

Officials disclosed that the hacked wallets had approved token transfers to malicious addresses through their token approval process. This allowed fraudsters to maintain control even when victims did not provide direct fund transfers. These scammers exploited these permitted access to operate undetected and bypass standard security alerts.

Broader “Approval Phishing” Attacks on Ethereum Network

Chainalysis data shows that approval phishing has resulted in approximately $2.7 billion in  cryptocurrency losses between 2021 and 2024. However, the actual total loss could surpass these numbers because many cases are not reported. These scams are sophisticated and affect both individual users and decentralized organizations(DAO).

The Ethereum network has suffered massive losses through approval phishing such as the $120 million attack at Badger DAO. The scammers often target rich NFT collectors and active crypto users. Attackers exploit user trust and limited understanding of wallet permissions.

The operation confirmed the importance of international collaboration to disrupt transnational crypto fraud and cybercrime. The investigators collaborated with a blockchain analysis firm and a cryptocurrency exchange to track the suspicious wallet transactions. This initiative dismantled various criminal networks.

Bitron Kvante Review 2025: Scam or Legit Trading AI? – Real Facts!

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Bitron Kvante is a web-based crypto trading platform developed to alter the whole trajectory of your trading experience and up your trading game. The system is powered by advanced technologies like AI-based trading tools and algorithm assessment systems that monitor market sentiments, trading patterns, price fluctuations, and the latest trends in the crypto trading market to offer you reliable trading assistance that can aid in pinpointing trading positions with the maximum potential to earn profits. In this Bitron Kvante review, we will be analyzing the trading platform in detail by delving into its prime aspects.

Visit Bitron Kvante For Free

Ever since Bitron Kvante was launched, the trading platform has been garnering massive attention from customers and experts alike. There are many reports and articles on the internet stating that this system can enhance your overall trading experience and help you grow yourself in the trading industry. In this Bitron Kvante review, we will be looking at how this system helps you trade effortlessly. So let’s dive in.

Bitron Kvante Facts Table  

Trading bot nameBitron Kvante
Bot typeWeb-based trading platform
Account registration processOn Bitron Kvante’s official website
VerificationYes
Registration feeNo fee for account registration
Minimum capital required$250
Profit withdrawal24 hours
ProsBeginner-friendly systemCaters to all tradersImproves trading experienceHelps you identify profitable trading positionsOffers accurate trading dataSupports simultaneous tradingOffers a safe trading environment
ConsThe mobile application is still in its development phase
Countries eligibleEligible for use in multiple countries worldwide
Payment methods supportedBank transfer, debit/credit card payment, PayPal, Skrill, Neteller and so on
Customer support teamThe customer  support team can be contacted via email
Official website addressClick Here

What Is Bitron Kvante?

Bitron Kvante is a crypto trading platform that utilizes advanced technologies like artificial intelligence and algorithm assessment tools to offer you live trading data. The trading platform provides its customers with updates on trading patterns, accurate trading predictions, and chartings that can help in executing quick trading orders. The Bitron Kvante trading system is made to work efficiently for novice and experienced traders and has features that make it a flexible trading system. Bitron Kvante is presently free for customers to use and the initial capital you need to deposit to trade on it is only $250. To make it a user-friendly website, the creators of the trading platform have designed its website in a way that customers can easily navigate through it. Customers can access the trading platform on all devices at any time.

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Bitron Kvante Review 2025: Scam or Legit Trading AI? - Real Facts! 4

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Is Bitron Kvante Legit Or A Scam?

Data and reports available on Bitron Kvante suggest that the trading platform is legit. The system is capable of providing trading support to both novice as well as experienced crypto traders. It utilizes the power of revolutionary technologies like artificial intelligence and algorithm tools to provide you with live trading data and accurate predictions. It has multiple features that make it efficient and unique. Besides these factors, Bitron Kvante is a safe system that has advanced security measures integrated into it. So it is evident that Bitron Kvante is not a scam. However, we recommend you be careful when accessing the trading platform’s official website as there are numerous gimmick and counterfeit websites on the internet trying to imitate the original one using similar names and website designs.

Register On Bitron Kvante Platform

We will now take a look at the steps you need to complete before starting to trade on Bitron Kvante:

  • Step 1 – Register an account: You can register an account on Bitron Kvante simply by filling out the form given on its website. To register an account, you will have to fill in your name, contact number, and email ID. After filling out the account registration form, you can click on the ‘register now’ button to complete the process.                                 
  • Step 2 – Email verification: The second step is email verification. After registering an account on Bitron Kvante, the trading platform will send you an email to confirm that the one you filled in the form is correct. Once you complete this step, you can log into your trading account.
  • Step 3 – Deposit capital: After logging into your account, you can set up your profile and then deposit capital. The minimum capital amount you need to invest initially to trade on the platform is only $250.
  • Step 4 – Begin live trading: Once you have deposited the required capital into your Bitron Kvante trading account, you can begin live trading on the platform. The system will provide you with analytical trading data that can help you trade seamlessly.

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How Does Bitron Kvante Work?

Bitron Kvante works in multiple ways to provide you with reliable trading assistance and support. The trading platform has technologies that assess the crypto trading market 24/7 and gather accurate trading information. The system delivers its customers with accurate trading updates, precise predictions, information on market trends, live chartings, and educational resources that can help you identify trading opportunities with the maximum potential of earning profits, thus promoting smart trading decision-making. With the assistance that the system offers, Bitron Kvante makes it easy for customers to navigate through the complexities of the crypto trading market.

When a customer begins trading on Bitron Kvante, they are offered two options and they are to choose between automated and manual trading. Automated trading is when the system automates the whole process and will make data-driven trading decisions on your behalf. Manual trading is when the system provides its customers the option to trade manually on the platform. Along with this, the trading platform also gives its customers the option to personalize the assistance required.

Prime Features Of Bitron Kvante

Some of the main features of the Bitron Kvante trading platform are discussed below:

  • Trading automation: The Bitron Kvante trading platform automates the whole trading process for its customers. In this mode of trading, the system will be making data-driven trading decisions and the only thing customers need to do is to keep their account logged in.
  • Customizable assistance: Customization of assistance is a feature of Bitron Kvante that makes it a system ideal for novice and experienced traders. On the trading platform, customers can set the parameters for trading and adjust the assistance level based on their trading expertise and goals.
  • Analytical trading data: Bitron Kvante is a crypto trading platform that provides customers with analytical trading data that can help customers trade seamlessly. The trading tools integrated into the platform analyze the crypto trading market 24/7 to offer you valuable trading data.
  • Risk-free demo trading: Bitron Kvante has a risk-free demo trading feature that allows customers to trade on the platform, understand how the system works, and familiarize themselves with its functioning without using the capital they have invested.
  • Safe trading experience: Bitron Kvante provides its customers with a safe trading experience. The trading platform has robust security features and privacy measures integrated into it that ensure a safe trading environment for its customers.  

Cryptocurrencies You Can Trade On Bitron Kvante

Bitron Kvante is a crypto trading platform that has multiple cryptocurrencies supported for trading on its website. A few of the main cryptocurrencies that you can trade on the platform are the following:

  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Montero (XMR)
  • Ethereum (ETH)
  • Binance Coin (BNC)
  • Dash (DASH)
  • Ethereum Classic (ETC)
  • Cardano (ADA)
  • Polkadot (DOT)

Countries Where Bitron Kvante Is Legal

Presently, Bitron Kvante is legal for use in numerous countries worldwide. Customers have the option to check if the trading platform is supported for use in their countries before registering an account.

The following are some of the main countries where the Bitron Kvante trading platform is popular:

  • Mexico
  • Brazil
  • Spain
  • Germany
  • Belgium
  • Malaysia
  • Singapore
  • Taiwan
  • Thailand
  • Hong Kong
  • Japan
  • Vietnam
  • United Kingdom
  • Canada
  • Australia
  • South Africa
  • Norway
  • Sweden     
  • Netherlands
  • Finland
  • Poland
  • Switzerland
  • Slovenia
  • Slovakia
  • United States of America

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Bitron Kvante User Reviews And Expert Ratings

The majority of customers who have traded on Bitron Kvante had quite satisfactory trading experiences on the platform. According to customer testimonials shared on multiple online forums, Bitron Kvante provided customers with accurate trading and analytical information that has helped them trade seamlessly and multiply the capital they have invested. So far, no complaints have been reported against the Bitron Kvante trading platform.

Besides customer reviews, expert assessment reports of Bitron Kvante suggest that the trading platform is a reliable one. Experts in the crypto trading industry have studied and analyzed all prime aspects of the Bitron Kvante trading platform in detail to determine its efficiency. Their reports say that Bitron Kvante is an authentic system that can help you trade and earn profits easily.

Bitron Kvante – Fee, Minimum Capital, Payment Options, And Profit Withdrawal

Bitron Kvante is a free crypto trading platform that’s open for all customers to use. Unlike regular trading platforms on the internet, this one does not charge you any subscription or hidden fees. The minimum capital you need to invest to begin live trading on Bitron Kvante is only $250. On Bitron Kvante, multiple payment options are available for you to deposit capital which include card payments, digital wallet payments, and bank transfers. Customers of Bitron Kvante can withdraw profits from their trading accounts at any time they want.

Bitron Kvante Review Final Verdict

Bitron Kvante is a crypto trading platform that utilizes the power of advanced technologies like artificial intelligence and algorithm tools to offer you reliable and accurate trading information. The system caters to the trading needs of all people regardless of their expertise in crypto trading.

The system is quite user-friendly and gives its customers the liberty to choose between automated and manual trading modes. Customers are also allowed to set the parameters for trading and adjust the assistance level on the platform.

Bitron Kvante has received majorly positive feedback from the majority of its customers. These customers were able to generate substantial trading profits within a short span of consistently trading on it. Trading experts gave the Bitron Kvante trading platform a rating of 4.9/5 for its efficiency. So altogether, it seems that Bitron Kvante is a reliable system for all people who want to trade cryptocurrencies and earn profits effortlessly.

Start Trading On Bitron Kvante For Free

Bitron Kvante Frequently Asked Questions

How much time can I spend on the Bitron Kvante website?

Bitron Kvante is a crypto trading platform that’s active 24/7, therefore, you can spend as much as time you want on the trading platform.

Is it simple to create an account on the Bitron Kvante website?

Yes, it is simple to create an account on the Bitron Kvante website as you can complete this process by filling out the account registration form.

Is the Bitron Kvante website supported for use on iOS devices?

The Bitron Kvante website is supported for use on iOS devices.

Can I deposit capital using my credit card?

Customers can deposit capital using their credit card.

Is it allowed to withdraw profits from my Bitron Kvante account at any time I prefer?

Customers of Bitron Kvante can withdraw profits from their trading accounts at any time they want.

Chinese Gang Laundered $6M via USDT, Targeting 66K Indians in Huge Crypto Scam

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  • Chinese court convicts nine individuals for running a telecom and crypto scam targeting over 66,000 Indians.
  • The group used fake platforms and identities to promise 8–15% returns, stealing over ₹517M (~$6.2M).
  • Laundered funds were converted to USDT and exchanged into yuan or USD at a 15% discount via third-party platforms.

After running a telecom and crypto scam ring that cheated more than 66,000 Indians over the past two years, a Chinese court has sentenced nine people to prison. According to court documents, these people laundered their profits using Tether’s USDT stablecoin.

According to an update by a local media outlet, the nine people have been remanded to prison in China for their involvement in this crypto scam. Even though the team was running fake investment sites and using false identities, it was led by a man whose surname was known as He.

He stole 517 million Indian rupees (roughly $6.2 million). He began the theft scheme in May 2023 by renting offices in Shandong Province. The man organized the transfer of stolen money and established overseas systems as well as team member hiring, who posed as Indian business owners.

He said the group drew in Indians by means of messaging, promising monthly gains of 8-15% on 1,000-rupees (approximately $12) when they invest using their SENEE platform.

USDT Was Used to Transfer the Crypto Scam Funds

The report claimed the crypto scam team would close down the site for a brief period to stop investors from receiving funds if the deposits exceeded a certain amount determined by them. By using third-party systems, the money was changed to Tether’s USDT stablecoin and then traded into Chinese yuan or the United States dollar with a 15% discount.

However, the report is silent on which platforms the fraudsters used to cash out. According to the court filing, one of the fraudsters, surnamed Li, presented herself as a “wealthy Indian woman” who became wealthy by means of investments in this platform. 

The group also produced phony papers and websites to seem legitimate. Hence, the Chinese court called the gang a “sophisticated criminal group.” Along with the financial penalties, the sentences for each of the accused vary from several years to almost fifteen years in prison.

Dogecoin Developer Issues Scam Warning Amid New Token Surge

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  • Dogecoin developer Inevitable360 warned the crypto community about scams using the DOGE name to promote unrelated tokens.
  • The Dogecoin Foundation released Libdogecoin v0.1.4, enhancing developer tools and security for smoother integration of DOGE into applications.
  • 21Shares and House of Doge launched a Dogecoin ETP on Switzerland’s SIX Swiss Exchange, expanding institutional access to DOGE.

A Dogecoin Foundation developer has issued a stark warning to the crypto community, highlighting a growing number of scams that seek to exploit Dogecoin’s popularity. As the memecoin sees renewed momentum through technical upgrades and institutional partnerships, opportunistic actors are attempting to ride the wave by promoting unrelated tokens under the DOGE brand.

In a recent post on X (formerly Twitter), Dogecoin core developer Inevitable360 cautioned users against falling for deceptive token promotions masquerading as Dogecoin-related projects. The developer stated that any crypto asset being marketed within the DOGE community outside of the original DOGE itself should be viewed as a potential scam.

“Anyone promoting tokens in the DOGE community is likely pushing a scheme,” Inevitable360 warned. “If someone wants to help others or save dogs, they don’t need a token no matter the excuse.”

This cautionary message arrives as DOGE gains fresh attention in both the retail and institutional sectors. With its price climbing and its ecosystem expanding, malicious actors are seeking to capitalize on the hype by introducing lookalike tokens and misleading initiatives that prey on unsuspecting users.

Dogecoin Releases Libdogecoin v0.1.4

Amid warnings of scams, the official DOGE Foundation continues to make real and measurable progress in its development roadmap. On Friday, the foundation announced the release of Libdogecoin v0.1.4, a major update to its core C library, which allows developers to seamlessly integrate DOGE functionality into applications and platforms.

Since the February 2024 release of version 0.1.3, Libdogecoin has undergone significant upgrades that enhance both functionality and performance. Notable improvements include integration with Dogebox and the addition of support for SPV PUP, a lightweight node designed for simplified payment verification. The update also introduced enhanced key management features and performance optimizations for both Intel and ARM systems.

Furthermore, REST API extensions now enable more efficient SPV node communication, while expanded secure enclave compatibility boosts security. Additionally, the latest version brings new support for YubiKey-based hardware key storage, reinforcing Libdogecoin’s focus on robust and flexible crypto infrastructure.

These improvements demonstrate a strong commitment from the DOGE Foundation to ensure DOGE remains a technically sound and developer-friendly blockchain, far beyond its meme origins.

Dogecoin Goes Institutional with 21Shares ETP Launch

Adding to the bullish momentum, leading crypto investment firm 21Shares has partnered with House of Doge to launch a dedicated DOGE Exchange-Traded Product (ETP). The product, which will be listed on Switzerland’s SIX Swiss Exchange under the ticker DOGE, marks a major milestone in DOGE’s journey toward institutional adoption.

This listing opens the door for traditional investors to gain exposure to DOGE through regulated financial instruments, boosting credibility and expanding access beyond crypto-native users.

Looking ahead, the DOGE Foundation is also developing Fractal Engine, a cutting-edge open-source sidechain protocol. The project aims to introduce support for fractionalized assets such as NFTs and real-world assets (RWAs) without burdening DOGE’s base layer.

By storing data off-chain, Fractal Engine will maintain the efficiency and simplicity of the Layer 1 DOGE blockchain while enabling broader utility and decentralized finance (DeFi)-style functionality.

Related |  XRP Breaks Out of Bearish Trend, Eyes Major Rally Toward $10+

Delhi Woman Recovers $35,000 After Falling for Bitcoin Scam

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  • A woman from Delhi lost $41,750 to a cryptocurrency scam, where the scammers convinced her to change her money into Bitcoin after claiming her computer was hacked.
  • The Delhi Township Police and the Ohio BCI’s Electronic Financial Investigations Unit intervened quickly and helped her track the money, ultimately recovering most of the stolen money.

A woman from Delhi Township has successfully recovered about $35,000 that she lost to cryptocurrency scammers, thanks to the quick efforts of the cybercrime teams in Ohio. The money was extorted from her through a bitcoin fraud that targeted the elderly. This step marks a huge success for the cyber teams in Ohio.

According to reports, the total amount of money she was scammed off was about $41,750. The transactions were done using a Bitcoin ATM. These types of scams have become increasingly common, and law enforcement in the country warns citizens that this kind of scam often appears very real, especially when the scammers contact victims directly by phone.

Fortunately, the quick response and expertise of the Delhi Township Police Department, along with the BCI’s Electronic Financial Investigations Unit, played a key role in helping to prevent further losses. After tracking the movement of the funds, the teams acted fast to block additional transfers and joined forces with other legal groups to freeze the scammers’ accounts.

The Method of Operation of the Bitcoin Scam

The scam started off when the woman saw a pop-up on her computer that pretended to be from Microsoft. The message showed a phone number and told her to call right away. When the 73-year-old dialed the number, the scammer, pretending to be a Microsoft worker, told her that her computer had been hacked and advised her to take out around $42,000 and change it to Bitcoin to fix the fake issue.

Soon after, the woman realized something was wrong; she quickly reached out to the Delhi Township Police. The local officers then contacted the Ohio BCI’s Electronic Financial Investigations Unit for help.

The authorities have advised the public to be very cautious and recognize the warning signs of any kind of scam, and if there are any suspicions, they should report them.

Related Reading | Crypto Regulation Reboot as SEC Chair Champions Exemptions

SHIB Army Wake-Up Call from Lucie on Scams and Survival in Crypto

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  • Lucie urges the SHIB Army to stay vigilant against scams, warning that relying on others in crypto can lead to costly mistakes.
  • She advocates for self-education, critical thinking, and personal accountability in a decentralized world.
  • Emphasizes crypto’s potential as a tool for empowerment and financial freedom, especially for marginalized communities.

Lucie, the official marketing expert of the SHIB token team, has issued a powerful message to the SHIB Army one that speaks to both the harsh realities and transformative potential of the crypto industry. Known for her passionate presence in the SHIB community, Lucie used her platform to caution investors and enthusiasts against complacency, scams, and the dangers of relying on others in a decentralized world.

In a recent series of tweets, Lucie warned that the crypto landscape offers no safety nets. She stated bluntly that if users expect to be “babysat” in the crypto space, they are already dangerously close to being scammed. According to Lucie, one of the most common and costly mistakes is entering crypto with the assumption that others will guide or protect you. Instead, she emphasized the need for self-education, critical thinking, and personal accountability.

“Crypto is cruel, fast, and unapologetic,” Lucie wrote. “Mistakes are expensive. Lessons are harsh. And no one owes you an explanation.” Her candid message resonated across the crypto community, as more users have fallen victim to phishing attacks, rug pulls, and misleading influencers, often due to a lack of due diligence.

Lucie further encouraged newcomers to take initiative in learning, even if that means starting from the very basics. “Start your kindergarten if you must,” she tweeted, “just don’t scam people in the process.” This statement reflects her commitment to ethical growth in the blockchain space, where education and honesty are crucial for long-term success.

Lucie Urges SHIB to Build Tools Not Traps

Despite the warnings, Lucie’s message is not one of fear; it’s one of empowerment. She highlighted how cryptocurrency can be a tool for financial freedom and access, particularly for those marginalized by traditional financial systems. “Crypto can open doors,” she said, pointing to real-life examples such as a mother earning income through play-to-earn (P2E) games, a developer in a remote town launching a product, or someone simply holding onto hope during tough times.

Lucie emphasized that crypto is more than just charts, price action, and speculation; it is a tool for empowerment, opportunity, and global inclusion. However, she believes the industry is in desperate need of transformation and that change can only come from within. She urged builders and users to contribute meaningfully: “Create tools, not traps. Build bridges, not schemes.”

Ultimately, Lucie reminded the SHIB community and the broader crypto world of the founding principles of the blockchain movement. “We need people who remember why crypto started in the first place freedom.” Her statement calls on the community to remain grounded in the values of decentralization, innovation, and financial sovereignty.

As the crypto space continues to evolve at a breakneck pace, Lucie’s insights serve as a timely reminder: crypto isn’t just a tech revolution; it’s a mindset shift. One where education, responsibility, and values matter just as much as code.

Related | Fartcoin Rallies 110% Despite Market Woes, Analysts Expect Further Upside

Australia Shuts Down 95 Firms Linked to Crypto Scams, $35.8M in Losses

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  • Australian regulators have dismantled 95 companies involved in crypto investment and romance scams, resulting in over $35.8 million in losses.
  • The Federal Court confirmed 17 companies’ involvement in fraudulent crypto platforms, with three firms having funds and 92 lacking assets, leading to their urgent deregistration.
  • ASIC continues to shut down scam websites, having already closed 10,000 fraudulent sites, and is intensifying oversight on crypto ATMs to combat money laundering and fraud.

Australian regulators have dismantled 95 companies suspected of running crypto investment and romance scams, marking one of the country’s most sweeping crackdowns against cryptocurrency related fraud.

ASIC announced the Federal Court approved their request to close the firms due to fair and appropriate reasons. The authorities took action because their probe showed the companies used fake data in their registrations and acted together in pig butchering scams.

Scammers develop fake online relationships and gain trust before leading victims into crypto platform investment scams. Justice Angus Stewart, in charge of this case labeled the presented facts as undeniable while explaining there was no reason to trust how these companies were managed.

Court Confirms 17 Scam Companies Involved in Australia

On March 21, the court examined 17 companies and confirmed their involvement in scam patterns through false trading platform representations. The Federal Court assigned liquidation duties to Catherine Conneely and Thomas Birch of Cor Cordis to manage 95 firms that need financial recovery. Finally they recommended urgent deregistration because three companies had funds while 92 other companies had no assets.

Since their start, the liquidators have processed nearly 1500 victim claims from 14 nations such as Australia, the United States, and several others. The victims have declared losses exceeding $35.8 million in total.

ASIC detected that criminals copied official investment platform designs as part of their deception. ASIC Deputy Chair Sarah Court explained that scam companies use their setup to appear secure. Scammers employ multiple methods to trick people out of their money and personal habitations.

ASIC takes action as part of a wide-scale battle to stop fraudulent Internet investment schemes. According to ASIC’s latest report, they have closed more than 10,000 dangerous websites with specific action against 7,200 fake investment sites and 1,500 phishing scams per week.

ASIC strengthens its crypto ATM monitoring work because failing firms must now follow anti-money laundering laws or face legal punishment. AUSTRAC detects suspicious activity tied to crypto ATMs which drives agencies to control crypto ATMs better.

Authorities encourage Australians to check their sources carefully before giving money to new investment platforms.