Recent Data on Russian Crypto Fraud

Endy Callahan

Scams, fraud, and cryptojacking are just some of the major issues that have been always making the entire crypto community’s life more troublesome and complicated. As we would all realize, the greater the country and its territory are, the greater are the chances and risks that hackers will want to look for its victims on its territory. Russia has recently reported that there are several key laboratories that are analyzing and detecting malware.

According to the newly published information, Kaspersky Labs is one of the companies that have managed to identify a steep increase in scams related to cryptocurrencies occurring across the country. Their data covers the first half of this year and shows the most precise and accurate figures. As we can see, the situation is rather bleak and, according to analysts and scientists, the number of crypto scams has tripled throughout the last six months.

Thanks to the efforts made by numerous cybersecurity firms, the crypto market has identified an exponential increase in all sorts of scams that cyber criminals usually employed in Russia between January and July of 2020. Scientists found out twenty-three thousand websites that were involved with scams that are actually still active and looking for new targets.

As many local media sources claim, the mentioned laboratory showed that the issue this year has tripled and is much more serious than it was during the same period in 2019. One of the most common instances faces people given the chance to fill out surveys so that the other party could receive commissions. At the same time, hackers asked their victims to pay the so-called entrance fee before they become full participants of the project.

A Wide Variety of Scam Schemes

There are other schemes and projects that attackers invent to cheat and deceive. Laboratories and cybersecurity companies identify websites that provide people with over two hundred and seventy-five USD an hour and ask them to mine cryptocurrencies through their unused power sources. In the end, scammers never deliver any rewards or payments.

Another very popular way to mislead crypto owners is by offering them to obtain memberships. Usually, mining fraudsters ask for a certain amount of money to climb up in the ranking lists of the provided system. The victim is offered to pay more money to climb up the ladder and promotional tiers. The higher your level is, the more you earn, according to the rules of the game.

Also, many keep reminding that all participants should take better care of their money transfers and all sorts of operations they carry out online. Law enforcement and police officers are doing their best to reveal such cases and prevent further scam attacks. At the same time, hackers keep on developing new forms of malware and find new victims – those are people who have just entered the crypto community and are just starting to get familiar with the details and nuances typical of the crypto society.

Nevertheless, there are plenty of instances where even some of the most advanced members of the crypto world get hooked on the offers and good ‘deals’ offered by individuals that find the right ways to make others believe that they are trustworthy and reliable.

Fraud in the news is also a frequent phenomenon and the list of scams seems to be endless nowadays. All users should remain more cautious, careful, and attentive while working online, transferring crypto assets, or corresponding to individuals they hardly know.