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Fraud, Raids, and Fake Jobs: This Week’s Crypto Threats You Need to Know

Author

Charles Brooks
April 28, 2025

TL;DR

  • Taiwan’s BitShine exchange execs arrested in $3.2M fraud probe.

  • Russian crypto exchange Mosca raided; cash-to-crypto ban on the table.

  • North Korean cyber crews launch fake US companies to plant malware and steal your crypto.

BitShine’s Billion-Dollar Bust: Taiwanese Exchange Execs Arrested

Next up: Taiwan’s BitShine exchange—yeah, the one with dozens of physical shops—just got torched by authorities.

The CEO and two others are behind bars, accused of pushing more than NT$100 million (about $3.2 million USD) through a massive fraud and money laundering scheme.

Prosecutors say BitShine staff helped a criminal ring move cash and crypto. Four more suspects are out on bail. The heat is officially on local exchanges as regulators finally start to wake up.

Moscow Meltdown: Russian Crypto Exchange Raided as Fraud Fears Grow

Meanwhile in Russia, cops stormed Mosca, a local crypto exchange, right in the middle of talk about slamming the brakes on cash-to-crypto deals.

This all went down after ex-government adviser Olga Serova got fleeced for $5.1 million. While it’s not clear Mosca was the getaway car, the whole drama is spooking Russia’s crypto world. Now, lawmakers want to ban cash-to-crypto outright—because, surprise, scammers love to cash out dirty money.

North Korean Hackers Go Deepfake: Fake U.S. Companies, Real Malware

Think you’re getting a dream job in crypto? Double-check that offer. North Korean hackers built fake U.S. companies (Blocknovas, Softglide), complete with snazzy LinkedIn profiles, to lure crypto devs into downloading malware disguised as job applications.

The result? Stolen data, backdoor access, and a big win for Pyongyang’s weapons fund. The FBI seized domains, but the lesson stands: If it looks too good to be true, run a virus scan. And maybe Google them twice.

Stay sharp out there. If you spot a scam or have a lead, reply to this email—we’re always on the hunt. Forward this to a friend who still thinks their “crypto advisor” is legit.

Until next time,
The Crypto Asset Recovery Team