Security Incident · Blockchain
Blockchain for dog nose wrinkles Scam: $127.00M Reported Loss
‘Blockchain for dog nose wrinkles’ Ponzi makes off with $127m.
- Reported loss
- $ 127,000,000
- Attack category
- Scam
Incident Overview
A South Korean company lured investors with its new technology: a blockchain app that can identify dogs by their nose wrinkles.The investigation found that what the company promoted to be its dog nose wrinkle reader was fake.The South Korean police say investors have lost more than $100 million in what it describes as a “typical Ponzi.”
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.