anti-fraud

The Financial Supervisory Service (FSS) of South Korea has launched a three-month project to rebuild the fraud refund system with a budget of approximately 119 million won. This upgrade aims to align with the revised Telecommunications Fraud Damage Compensation Act, which will officially take effect on October 1, and formally includes virtual assets in the categories of "damaged property" and "refundable property."The new system will support the calculation of compensation amounts based on token types and quantities, using the value of the won at the time the funds were frozen as a reference benchmark, and will also have the capability to dismantle mixed fraud funds across multiple accounts. Major exchanges such as Upbit, Bithumb, Coinone, Korbit, and GOPAX will be required to undertake anti-fraud and victim relief obligations equivalent to those of banks, including verifying transaction purposes, monitoring suspicious funds, and freezing suspected accounts.

According to CoinPost, the Financial Services Agency of Japan and the National Police Agency recently jointly sent a letter to the Japan Virtual Currency Exchange Association (JVCEA), requesting exchanges to strengthen anti-fraud measures. This request includes 11 specific requirements, such as the need for withdrawal addresses to be registered in advance, enhanced transaction monitoring, strict verification of identification documents when opening accounts, and setting a withdrawal limit for a certain period after users deposit fiat currency or purchase crypto assets.The background of this action is the increasing prevalence of investment scams and "pig butchering" schemes on social media, where criminals frequently use crypto accounts to transfer illegal funds. The Financial Services Agency also suggested that exchanges flexibly set withdrawal limits based on customers' risk levels and transaction purposes, and that suspicious transactions should immediately result in account restrictions or freezes, while enhancing intelligence cooperation with the police. For system renovations that are difficult to implement in the short term, exchanges are allowed to proceed in phases. In addition, the Financial Services Agency has officially established the "Cryptocurrency and Stablecoin Division," responsible for related regulatory affairs.

According to CoinPost, the Financial Services Agency and the National Police Agency of Japan jointly issued a request to the Japan Virtual Currency Exchange Association (JVCEA), asking all cryptocurrency traders to strengthen withdrawal restrictions to prevent fraud victims, proposing a total of 11 new measures.The main content includes: the introduction of a pre-registration system for withdrawal destinations, setting a certain period of withdrawal restrictions after depositing fiat currency or purchasing cryptocurrency, establishing withdrawal limits based on customer risk assessments, and enhancing transaction monitoring and information-sharing mechanisms with police in each prefecture. The background is that the damage from social media investment inducements and "pig butchering" scams continues to expand, with criminal methods becoming increasingly complex.

According to Bitcoin.com, the Singapore Police Force's Anti-Fraud Centre and Cybercrime Investigation Department, in a six-week joint anti-fraud operation from April 16 to May 31, 2026, collaborated with Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, and Upbit to identify potential fraud victims using blockchain analysis tools from Chainalysis and TRM Labs. They conducted over 145 targeted interventions through phone calls and on-site visits, preventing potential losses exceeding $4.2 million.Coinbase Singapore posted on X on July 10, stating that it collaborated with the Singapore Police to prevent over 145 individuals from losing a total of more than $4.2 million due to fraud. The Singapore Police stated that they will continue to work with cryptocurrency exchanges and other private sectors to combat cybercrime.

According to The Block, a global anti-fraud operation led by INTERPOL has arrested over 5,800 suspects and successfully uncovered a cryptocurrency money laundering network that used cross-chain token exchange methods to conceal illegal fund flows.One suspect's digital wallet processed over $122.5 million in funds in just 10 months. On-chain analysts pointed out that while cross-chain operations increase tracking difficulty, it does not mean that fund flows cannot be traced. Such cases indicate that financial crimes continue to evolve alongside the advancement of blockchain technology.

The China Payment and Clearing Association has issued a warning to prevent cross-border gambling scams involving virtual currency, aimed at helping the general public enhance their awareness of fraud prevention and their ability to recognize scams.The China Payment and Clearing Association reminds that cross-border gambling results in "ten bets, ten losses." Participating in gambling through virtual currency is more concealed and risky. Engaging in gambling and providing funding for gambling activities is illegal and against regulations. Do not participate in virtual currency gambling transactions, and maintain the bottom line of financial security.

According to the "2026 Anti-Fraud Report" jointly released by Bitget and SlowMist, as digital finance continues to expand into stocks, tokenized assets, and AI tools, cross-asset trading is gradually becoming an important trend for users participating in the market. The proportion of users engaging in cross-asset allocation has increased from less than 1% in mid-2025 to over 10% in May 2026.The report points out that fraudulent methods are evolving from single attacks to complex attack chains, integrating AI-generated content, deepfakes, voice cloning, and multi-channel social engineering. From July 2025 to June 2026, Bitget's security system intercepted over 150 million malicious requests, identified more than 13,000 high-risk malicious IPs, and assisted users in recovering approximately $32.3 million related to security incidents and fraudulent activities.Bitget CEO Gracy Chen stated that this year marks the third Anti-Fraud Month event, and Bitget will continue to launch security education content, risk identification guides, and industry collaboration activities to help users enhance their ability to identify and protect against AI fraud, phishing attacks, and multi-asset scenario scams.

According to PR Newswire, AI-driven anti-fraud infrastructure InfoHawk announced the completion of a $2.25 million Pre-Seed round of financing, led by Moonshots Capital, with participation from former Chairman of the Federal Trade Commission Jon Leibowitz, AppNexus founder Brian O'Kelley, former head of advertising at Meta Rob Goldman, GitHub CTO Vlad Fedorov, and others.The new funds are intended to support its efforts to help businesses detect, analyze, and combat large-scale online fraud, phishing sites, brand impersonation, and deepfake attacks through AI content recognition and deep infrastructure analysis technology.

Bitget Chief Legal Officer Hon Ng today released an open letter, announcing that Bitget has officially launched the 2026 Global Anti-Fraud Month campaign, themed "More Assets, Stronger Protection."In the letter, Hon Ng pointed out that as the platform expands from crypto assets to a multi-asset ecosystem, users face increasingly complex cybersecurity threats while enjoying broader market access. He emphasized that the multi-asset era means greater responsibility. User protection is not a one-time project but a continuous result of risk monitoring, rapid response, security education, and industry collaboration.The open letter also disclosed Bitget's security and anti-fraud achievements for 2025. Data shows that Bitget intercepted over 150 million malicious attack requests throughout the year, identified over 13,000 high-risk malicious IPs, handled 18,135 user protection cases, and assisted users in recovering approximately $32.3 million related to security incidents and fraudulent activities.In addition, Bitget's security system achieved over 2.8 billion risk interceptions through customized protection rules, defended against over 1.5 billion DDoS attack attempts, and introduced machine learning-based behavioral analysis capabilities to further identify suspicious activities and potential risks.

Bitget officially launched the 2026 Global Anti-Fraud Month campaign in June, themed "More Assets, Stronger Protection: Safe Journey in the Multi-Asset Era." As crypto assets, tokenized stocks, AI, and other related products converge on the same platform, the security challenges faced by users have far exceeded those of the single asset era. This is the third consecutive year that Bitget has initiated this security initiative, aimed at helping users enhance their risk awareness in the multi-asset era.According to Interpol data, financial fraud related to the global multi-asset market is expected to cause losses exceeding $442 billion by 2025. As tokenized financial products accelerate their entry into mainstream trading environments, fraudulent methods have expanded from traditional phishing and SMS spoofing to new scenarios such as AI-generated scams, identity manipulation, and malicious smart contracts. Bitget CEO Gracy Chen stated that the financial system is becoming more interconnected, necessitating assistance for users to better identify risks.During Anti-Fraud Month, Bitget will successively release multiple safety science articles and video content, providing in-depth analysis of new fraud trends in the AI and RWA fields. In the later stages of the event, it will collaborate with on-chain security agencies, RWA institutions, and AI industry partners to jointly release anti-fraud reports related to multi-asset trading and AI financial risks, further expanding the coverage of user protection and risk education.

According to The Block, the U.S. Department of Justice stated that in a joint anti-fraud operation codenamed "Disruption Week," private sector participants froze over $3.8 million in cryptocurrency assets related to fraud. Participating organizations include Coinbase, Meta, Google, Microsoft, SpaceX, TRM Labs, and others.The operation also led to the arrest of 7 fraudsters by Thai police and the identification of multiple fraud platforms handed over for investigation by the U.S. authorities. Data from the FBI shows that losses reported from cryptocurrency investment fraud in 2025 increased by 24% year-on-year, exceeding $7.2 billion.

According to a report by Shangguan News, on May 17, 2026, an elderly man in his 70s, Mr. Gong, from Shuxin Town, Chongming, Shanghai, was deceived by a scammer posing as an "investment mentor" on a short video platform. He was lured into investing in Bitcoin with the bait of "low investment, high returns" and attempted to withdraw 100,000 yuan in cash for transfer at different bank branches twice.After noticing the unusual behavior, the bank teller activated the anti-fraud warning mechanism and coordinated with the police to intervene and dissuade him. The police explained to the elderly man, using real cases, that virtual currency trading and speculation are explicitly prohibited in the country, and that so-called "Bitcoin investments" are all scams. They helped him delete the fraudulent software and block the scammer on WeChat on the spot. After two rounds of patient persuasion from the police and the bank, the elderly man ultimately recognized the scam and gave up the transfer.

Coinbase stated that it is optimizing the rule creation process in its anti-fraud system by integrating machine learning models with a rules engine, achieving more efficient risk management. It also proposed a dual-track strategy of "models responsible for long-term defense, rules responsible for rapid response," and built a unified framework to create a feedback loop between the two: rules are used to capture new types of fraud and train the model in reverse, thereby continuously enhancing overall defense capabilities.In terms of specific optimizations, Coinbase has transformed the previously manual rule creation process into a data-driven and automated recommendation system by restructuring data, automating schema evolution, and introducing notebook-based analytical tools, significantly improving efficiency. Among these improvements, the performance of rule backtesting has increased by more than 10 times, and the overall response time has been reduced from several days to a few hours. Additionally, the new system uses machine learning to recommend parameters, helping to reduce false positive rates while combating fraud and minimizing the impact on normal users. Coinbase indicated that the next step will be to advance event-driven automatic rule generation and explore the "one-click conversion" of efficient rules into model features, further moving towards an automated risk management system.

According to Decrypt, the Cambodian National Assembly has unanimously passed a new bill to combat online fraud, targeting operators of large-scale scam operations that utilize cryptocurrency, with a maximum penalty of life imprisonment. The bill is still pending review by the Senate and final approval from King Norodom Sihamoni.Under the bill, the core leaders of scam groups will face 15 to 30 years in prison, and if death results, they could be sentenced to life imprisonment; organizers can be sentenced to up to 20 years and fined heavily, while participants may face 2 to 5 years in prison and fines of up to $125,000.Analysis indicates that cryptocurrency scams such as "pig butchering" have rapidly spread in Southeast Asia in recent years, relying on cryptocurrency for cross-border transfers and money laundering, with annual amounts involved reaching hundreds of billions of dollars. Such crackdowns may lead to scams "shifting rather than disappearing," and the key lies in whether there is simultaneous action against corruption protection, money laundering networks, and cross-border capital flow systems.

According to Cointelegraph, the UK Home Office has released a strategic policy document for combating fraud from 2026 to 2029, categorizing cryptocurrency as a "growing risk."The document points out that scams on social media and messaging apps lure victims into transferring money through emerging payment methods like cryptocurrency, and authorities still have weaknesses in combating such fraud. The country's National Crime Agency has launched a nationwide campaign in 2025 to help consumers identify fraud, and the government is supporting law enforcement agencies (including the Serious Fraud Office) to enhance their capabilities in investigating crypto assets.

The CEO of the Hong Kong Securities and Futures Commission, Ashley Alder, stated that the agency has received nearly 900 complaints about investment fraud, with a quarter related to virtual currencies.The Hong Kong Securities and Futures Commission will collaborate with the police, customs, the Monetary Authority, as well as licensed brokers and virtual asset service providers (licensed entities) to establish communication channels with licensed entities and actively cooperate with the police's anti-fraud coordination center's "24/7 payment halt mechanism" to immediately freeze transfers involved in fraud or high risk.

CoinW recently issued an official announcement reminding that a scam activity involving fake websites and mobile applications (Apps) has been detected. The scammers maliciously impersonated CoinW's name, graphics, logo, and brand image.The scammers targeted potential victims through publicly available information on the internet and social media platforms like LinkedIn. They used the victims' social profiles to verify their locations and establish initial contact, subsequently luring users to move the communication to Telegram. Scammers commonly employ manipulative tactics (including fabricating "luxurious lifestyle" stories) to deceive victims into transferring cryptocurrency to wallet addresses under their control. CoinW solemnly reminds: please be sure to access the official website or download the app through official channels. If you have doubts about the source of information, please contact the CoinW legal team for verification immediately. If you discover suspicious websites or counterfeit applications, please stop all operations and report them to the official channels. CoinW stated that it will continue to strengthen the construction of its security and risk control system, maintain a safe, fair, and transparent trading environment, and firmly support global anti-fraud, anti-money laundering, and sanctions compliance efforts.