US authorities have seized almost $9 million worth of cryptocurrency linked to a gang engaged in cryptocurrency investment fraud and romance scams. The US Department of Justice has announced that the seized funds are connected to cryptocurrency wallet addresses alleged to be associated with a "pig butchering" gang that has claimed over 70 victims around the world. "Pig butchering" is one of the world's fastest-growing types of scams.

As the Thanksgiving season rapidly approaches, many look forward to the warmth of family gatherings, the aroma of roasted turkey, and the joy of gratitude. Yet, just as we prepare our homes and hearts for this festive season, cybercriminals are gearing up to unleash a different kind of feast—a cyber feast—rife with sophisticated scams targeting unsuspecting individuals and businesses alike.

No, it is not safe to accept Zelle payments from strangers because there is always the possibility of the stranger being a scammer. If the stranger is a scammer, then you could end up losing money by accepting a Zelle payment from them. It’s best to only use Zelle to send and receive payments from people you know and trust.

If increases in cyberattacks this year are any indication of what to expect in the next six weeks of holiday shopping, we should expect a massive uptick in holiday-related scams. The expectation by the National Retail Foundation for this year’s holiday shopping is that we will see 4% more spending than last year. This is a slight year over year decrease (as last year saw a 5.4% increase over 2021), but still indicates increases in spending.

To prevent becoming a victim of fraud, you should always keep your data in a secure location, protect your online accounts with strong passwords and Multi-Factor Authentication (MFA), sign up for a dark web monitoring service to receive dark web alerts, learn to spot phishing scams and more. Continue reading to learn more about fraud prevention tips you should be following.

Our friends at BlackBerry recently released an in-depth blog post on a campaign by threat actors targeting online payment businesses that discusses what happens from initial compromise to the skimmer scripts themselves. You can read their blog here. This blog is focused on what we found across the AT&T Cybersecurity customer base as we looked for the indicators of compromise (IOCs) identified in the BlackBerry blog and on the quick-follow up analysis we performed and provided to our customers.

Read also: US citizen goes to prison for purchasing stolen credentials, US imposed sanctions for money laundering for Ryuk ransomware group, and more.

"The 'Classiscam' scam-as-a-service operation has broadened its reach worldwide, targeting many more brands, countries, and industries, causing more significant financial damage than before,” touts Bleeping Computer. So just what is it?

In the rapidly evolving digital landscape, artificial intelligence is a two-sided coin. Fraud protection software, like INETCO BullzAI, harnesses artificial intelligence (AI) technologies to offer fraud protection against financial criminals and cyber attackers. Conversely, fraudsters can weaponize the same technology to steal funds. A prominent example of this connection is synthetic identity fraud. This payment fraud vector often employs AI and deepfakes.