Billions stolen and counting! This is the harsh reality of the digital assets’ world. The glitz and glamour of cryptocurrency and the digital market brings with it the threat of vulnerability that hackers and crypto crooks gawk upon. 2022 was the biggest year for crypto hacks and attacks, with masterminds like the Crypto Queen, Do Kwon, and the Cajee brothers making off with billions. But law enforcement is hot on their heels!
According to a FBI report from earlier this year, losses from crypto scams have grown up to 45%. From Ponzi schemes to cyberattacks, these crypto criminals stop at nothing. But we've got the scoop on the top 07 most wanted crypto fugitives. Read their shocking stories and learn how to protect yourself from falling victim to their scams.
Ruja Ignatova, the mastermind behind the OneCoin Ponzi scheme, has been on the run since 2017. Fled with $4 billion in stolen funds, she's been added to the FBI's top 10 most wanted list. But her luck may be running out as authorities close in on her Kensington penthouse, which she allegedly purchased under a pseudonym.
Despite the pressure, her network of financial enablers and political connections has helped her evade capture for years. However, Ignatova’s accessory to OneCoin fraud and the former director of legal for OneCoin operation, Irina Dilkinska, has been sentenced to four years in prison.
The creators of the Squid Game token, inspired by the popular Netflix series, disappeared with no trace of $3.8 million in investor funds. Their whereabouts remain a mystery, leaving investors to fend for themselves. Since then, investigators have had little to no luck tracking down the individuals behind the scam. It is believed that they exploited the anonymity granted by blockchain technology.
Ameer and Raees Cajee, brothers and alleged masterminds behind the Africrypt scam, have absconded with $3.6 billion. It’s believed that the Cajee brothers used sophisticated methods to launder the funds through tumblers and mixers, making the stolen assets difficult to trace.
South African law enforcement, along with Interpol is actively investigating the case but the brothers' whereabouts remain unknown. Some reports suggest that they may have fled to Dubai or Russia, where they are living under false identities.
Do Kwon, the man behind the $60 billion Terra collapse, is still at large. The Terra ecosystem that once hailed as a cornerstone of decentralized finance (DeFi), crumbled when the stablecoin UST lost its peg to the US dollar, causing a ripple effect across the broader crypto market.
The fallout left thousands of investors financially devastated, triggering widespread investigations into the company and its leadership. With a warrant out for his arrest, he was apprehended by the US government and was charged with fraud due to his detention in Montegero.
This shadowy group of North Korean hackers has stolen between $630 million and $1 billion in crypto. Led by Park Jin Hyok, the group is responsible for some of the largest cyber heists in history, including an attack on the Ronin Network, where they stole an estimated $625 million in Ethereum and USDC.
The group has been linked to multiple hacks, with their crypto thefts estimated to be between $630 million and $1 billion. With these many frauds at hand, they've made the FBI's most wanted list. But can they be caught, or will they continue to operate in the shadows?
Faruk Fatih Özer, the founder of Thodex, a Turkish cryptocurrency exchange, disappeared in April 2021 after allegedly stealing $2 billion from over 400,000 users. Thodex suddenly halted trading, and Özer was last seen boarding a flight to Albania. Turkish authorities issued an international warrant for his arrest, and Interpol is actively searching for him. Özer’s scam shocked Turkey, where cryptocurrency had gained significant popularity due to the country’s economic instability.
We all have known or heard about BitConnect at one point, but its rise and fall is one of the most notorious crypto scams in history. Started in 2016, BitConnect lured investors with the promise of huge returns through a proprietary trading bot. Eventually, investors with huge investments poured billions into the platform and as it took off by early 2018, the scheme collapsed. BitConnect was exposed as a classic Ponzi scheme, with returns paid out using new investor money rather than actual profits.
The mastermind behind BitConnect, Satish Kumbhani, has since been charged with multiple counts of fraud, conspiracy, and market manipulation and accused of defrauding investors of more than $2 billion. Despite being indicted by a US grand jury, Kumbhani remains a fugitive, to date.
Crypto crimes are on the rise, but there are steps you can take to protect yourself from Crypto scams. Always look for smart contract audits, KYC checks, and other parameters before investing in a project. Stay informed, stay vigilant, and don't fall victim to these crypto criminals.