CryptoMarketCap - Cryptocurrency Market Capitalizations logo CryptoMarketCap - Cryptocurrency Market Capitalizations logo
2020-04-15 11:33:06

Coronavirus Spawns New Fraudulent Schemes In The Crypto Industry

Scammers Began To Earn Less In A Pandemic

Attackers began to use coronavirus to create new cryptocurrency fraudulent schemes, however, their profit decreased in a pandemic amid falling rates. Such data are provided by the analytical portal Chainalysis.

In their April 10 report, researchers found that phishing and blackmail were becoming more common as a result of the spread of COVID-19.

In the first case, criminals trick the confidential information of victims by posing as employees of charitable organizations collecting donations in cryptocurrencies to fight against coronavirus.

There has been an increase in blackmail: some fraudsters threaten to infect victims' families with coronavirus if they do not list a certain number of bitcoins to the addresses of the attackers.

Read Also:

— How Bitcoin Halving Can Change Crypto Market

— Find Out About Demo Crypto Trading

— What You Should Know About 2FA

But, despite the increase in the activity of fraudsters, the total value of cryptocurrencies sent to the criminals' accounts fell by 61% from March 13 to March 31. It is noted that the decrease in the indicator is not caused by an increase in the vigilance of citizens - the volumes have corruptedly dropped due to the fall in the BTC rate.

Those. the average number of victims of fraudsters remains at the same level.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer