Cryptocurrency Fraud and Financial Crime: Analyzing Convicted Fraudsters in Digital Asset Scams

Cryptocurrency Fraud and Financial Crime: Analyzing Convicted Fraudsters in Digital Asset Scams | Authorea try { document.documentElement.classList.add('js'); } catch (e) { } var _gaq = _gaq || []; _gaq.push(['_setAccount', 'G-8VDV14Y67G']); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s); })(); Skip to main content Preprints Collections Wiley Open Research IET Open Research Ecological Society of Japan All Collections About About Authorea FAQs Contact Us Quick Search anywhere Search for preprint articles, keywords, etc. Search Search ADVANCED SEARCH SCROLL This is a preprint and has not been peer reviewed. Data may be preliminary. 12 March 2025 V1 Latest version Share on Cryptocurrency Fraud and Financial Crime: Analyzing Convicted Fraudsters in Digital Asset Scams Author : Waseem Nasir 0009-0009-9743-780X [email protected] Authors Info & Affiliations https://doi.org/10.22541/au.174180456.65670202/v1 597 views 294 downloads Contents Abstract Supplementary Material Information & Authors Metrics & Citations View Options References Figures Tables Media Share Abstract Cryptocurrency has revolutionized financial transactions, offering decentralization, anonymity, and borderless transfers. However, these very features have also made digital assets a prime target for fraudsters and financial criminals. This study explores the profiles, methods, and legal outcomes of convicted individuals involved in cryptocurrency-related fraud. It examines highprofile cases, including Ponzi schemes, phishing attacks, fraudulent Initial Coin Offerings (ICOs), and ransomware operations, to understand the patterns and motivations behind such crimes. Through an analysis of case studies and legal proceedings, this research identifies key tactics used by fraudsters, such as social engineering, rug pulls, pump-and-dump schemes, and identity theft. The findings highlight that many perpetrators exploit regulatory loopholes, leveraging the lack of legal oversight in certain jurisdictions to defraud investors. Additionally, the paper discusses the role of emerging technologies like artificial intelligence and blockchain analytics in detecting and preventing digital asset fraud. The study further investigates the impact of these scams on investors and financial markets, revealing substantial financial losses, erosion of trust, and regulatory challenges faced by global law enforcement agencies. By assessing legal frameworks and enforcement mechanisms, the research evaluates the effectiveness of current laws in prosecuting cryptocurrency fraud and suggests policy improvements to enhance financial security. Ultimately, this research contributes to a deeper understanding of cryptocurrency fraudsters' operational strategies and their legal repercussions. It underscores the urgent need for stricter regulations, enhanced cybersecurity measures, and international cooperation to combat digital asset scams. Addressing these issues is crucial for fostering a safer cryptocurrency ecosystem and protecting investors from financial crime. Supplementary Material File (1.pdf) Download 187.72 KB Information & Authors Information Version history V1 Version 1 12 March 2025 Copyright This work is licensed under a Non Exclusive No Reuse License. Keywords blockchain cryptocurrency fraud ico phishing ponzi ransomware regulation scam security Authors Affiliations Waseem Nasir 0009-0009-9743-780X [email protected] View all articles by this author Metrics & Citations Metrics Article Usage 597 views 294 downloads .FvxKWukQNSOunydq8rnd { width: 100px; } Citations Download citation Waseem Nasir. Cryptocurrency Fraud and Financial Crime: Analyzing Convicted Fraudsters in Digital Asset Scams. Authorea . 12 March 2025. DOI: https://doi.org/10.22541/au.174180456.65670202/v1 If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. Simply select your manager software from the list below and click Download. For more information or tips please see 'Downloading to a citation manager' in the Help menu . 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