Crypto crime is on the rise. In fact, 2022 was the biggest year for hacks and attacks on cryptocurrency projects, with upwards of $3.8 billion stolen last year. That’s an 18 percent increase from the $3.2 billion stolen in 2021. One of the reasons why crypto criminals are so successful is the ever-increasing number of ways they use to dupe investors. What’s worse is that sometimes these miscreants orchestrate a crime and get away with it. They go into hiding or change their identity and use their ill-gotten funds to live a comfortable life.
In the meanwhile, law enforcement agencies try their best to uncover their tracks and bring them to justice. Here's a look at 5 such criminals that are on the run and wanted by the FBI, Interpol or some other law enforcement agencies.
Crypto Queen Ruja Ignatova
Ruja Ignatova is responsible for one of the biggest scams in the history of cryptocurrencies, the OneCoin Ponzi Scheme. Launched in 2014, the project promised lucrative returns and captured the attention of millions of investors. However, by 2017, once the coffers were sufficiently filled, Ruja and her co-conspirator, Sebastian Greenwood fled with investor funds. All-in-all, it is believed that the Crypto Queen got away with nearly $4 billion. Ignatova has been on the run ever since.
In June 2022, the FBI added Ignatova to its top 10 most wanted list. And now, after 5 years of chasing shadows, authorities have finally caught a break in the case. This is after Ignatova was named in a property document for the sale of a $13.6 million Penthouse in Kensington, England. Therefore, the Crypto Queen’s luck may have finally run out and she could soon be apprehended by the police.
Also Read: Explained: SingularityNET (AGIX) and why it is up nearly 800% since the start of the year
Do Kwon
It will soon be a year since the Terra meltdown. However, the man behind the project and its $60 billion collapse, Do Kwon, is still nowhere to be found. In Sept 2022, South Korean officials issued a warrant for his arrest. At the time, Do Kwon was believed to be in Singapore. However, an official of the city-state issued a statement saying that he was no longer in the country and had fled to Dubai. By the end of the month, Interpol joined the search for Do Kwon, issuing a Red Notice for his arrest.
However, through all of this, Do Kwon insisted that he was not on the run, but refrained from giving away his location due to "security reasons". Now it is believed that he is hiding somewhere in Serbia. Armed with this information, South Korea sent two officials to the Balkan nation to find the disgraced CEO and bring him to justice. Whether or not he is found, only time will tell.
The Cajee brothers
Ameer and Raees Cajee were allegedly behind one of the biggest crypto scams in 2021. The two brothers set up a cryptocurrency exchange in Johannesburg, South Africa called Africrypt in 2016. However, in April 2021, they stated that the exchange had been attacked by Ukrainian hackers, who made away with most of the investors’ funds. They then claimed that their family started to receive death threats, forcing them to flee the country.
However, after much scrutiny, users and law enforcement agencies were led to believe that the entire operation was nothing but a Ponzi scheme and that the Cajee brothers had allegedly absconded with nearly $3.6 billion. The brothers have gone into hiding since then and their location is still unknown.
The Lazarus Group
While this is not a person, it is probably one of the most wanted entities in the crypto space. According to a UN report, North Korean hackers stole between $630 million and $1 billion in crypto last year and the Lazarus Group is responsible for a major chunk of this amount. Researchers have also attributed several cyberattacks to the group between 2010 and 2021.
A computer programmer by the name of Park Jin Hyok is believed the be ringleader of this criminal outfit. He has the unenviable accomplishment of making it to the FBIs most wanted list, along with other alleged members of the group, including two hackers known as Kim Il and Jon Chang Hyok.
The creators of the Squid Game token
Launched in October 2020, the Squid Games token was a crypto project that was inspired by a popular South Korean Netflix series of the same name. Thanks to the popularity of the show, the token was able to grab the attention of investors. Its price surged from $0.01 to nearly $2,900 in just a week.
However, when investors tried to realize their gains, they found that they were unable to cash out. As investors took to Twitter to convey these issues, the project’s website went offline, its social media handles vanished, and the creators disappeared with all the investor funds. The total loot is believed to be around $3.8 million, and the founders of the project are yet to be traced.
Conclusion
Crypto crimes are on the rise. Therefore, investors and traders need to stay vigilant. Always look for smart contract audits, KYC checks and other parameters before investing in a project. These simple steps can save you from falling victim to crypto criminals like the ones stated above.
Also Read: Digital assets come to the rescue once again as crypto donations pour into earthquake-hit Turkey
