CertiK: Cryptocurrency scammers are increasingly using front men to bypass KYC

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Analysts from CertiK, a blockchain security company, have noted an increase in the popularity of straw men among cryptocurrency scammers and criminals.

According to CertiK, scammers runningcryptocurrency projects are increasingly resorting to the services of dummies found on the darknet. In various underground markets, in closed telegram channels and Discord servers, data of fake persons is provided. It only costs about $8. And if you need to undergo verification, then the front person will ask for $20 to $30 for their services. 

It's no surprise that scammers easilythey pay dummies, because profits from various cryptocurrency schemes can amount to millions of dollars. CertiK analysts noted that prices for completing verification may vary significantly depending on the country of citizenship of the figurehead. In countries with a low risk of money laundering, the price for KYC will be higher.

Also, figureheads may well play a roleCEO of a fraudulent startup. True, for these services they require more significant money - up to $500 per week. Another popular service on the darknet markets is the exchange of cryptocurrencies for fiat money.

It was previously reported that most often fraudulent cryptocurrency projects are launched based on the BNB Chain network. In 2022, the number of such projects in all networks has already exceeded 100,000.