The former CEO of a crypto project lost $450,000 to his best friend through a "Proximity Breach," according to anti-money laundering firm AMLBot. The CEO, named Tom, sold his stake in a crypto company for $500,000 and moved to a country in Asia. After getting caught in a rainstorm that damaged his phone, he re-entered his seed phrase and discovered his life savings were gone. AMLBot helped track the funds to a Binance account and froze the assets. This incident is part of a rising trend of proximity breach scams, where scammers exploit their close relationships with victims. AMLBot has recorded seven such cases in the past three months. In this particular case, the attacker was traced back through a fake Facebook account and returned $380,000 to Tom. The remaining $70,000 will be paid in a settlement over the coming months.



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