Scammers escape discovery by utilising black market identities

Scammers escape discovery by utilising black market identities

Crypto scammers have been accessing a "cheap and easy" black market of individuals willing to put their name and face on fraudulent projects for the low price of $8. These individuals are described by CertiK as "Professional KYC actors". Some roles paid up to $500 a week if an actor was to play the role of CEO for a malicious project. A tool released in October by Mastercard combines artificial intelligence and blockchain data to help find and prevent fraud. Another recent example has been the work of French authorities using on-chain analysis to find and charge five people who stole nonfungible tokens (NFT) through a phishing scam. (Read More)