Scammers Using COVID-19 against Crypto Holders

Judy Rubio

The FBI continues to investigate new cases and revealing scammers who use the crisis against crypto holders. Analysts as well as most authorities supervising the market believe that there will be a significant increase in the number of scams related to the COVID-19.

Official representatives reported that the rise in fraud schemes related to cryptocurrencies is something inevitable since there are more and more people who introduce themselves to the world of cryptocurrencies. The most vulnerable group of people includes elderly users. However, this does not guarantee that younger population will not be attacked by fraudsters.

Scam scheme are targeted to victimize all ages. Virtual providers working online have always faced this sort of issue. Nowadays there are hundreds of crypto kiosks spread all around the globe. Criminals actively use them to apply their schemes and steal funds from crypto holders. Cryptocurrencies become their main tool they use to launder money and commit all sorts of financial offences and crimes.

The agency has warned U.S. citizens to be more attentive and less naïve – the number of blackmail is increasing. There are scam schemes sent to individuals working from their homes. Threats related to the coronavirus may sound terrifying and more sensitive individuals can trust they need to take preventative measures or participate in special treatment projects to help the world survive. We should also remember that traditional investment scams also exist and do lots of harm.

The FBI mentions scams that are more dangerous than others. The victim may receive a message in which the scammer promises to spread infection among their family. The sender provides his Bitcoin account and keeps threatening his victim unless they agree to make a payment.

Fake Charities and Donations

It is possible to spot a fake donation organization or charity. Cointelegraph reports that online fraudsters make attempts to steal crypto funds by trying to involve their victims into fake charity programs and research projects. They typically mention the WHO and other respectable institutions claiming that they are representatives and address people to support them in their attempts to invent and effective cure. If asked, the scammer cannot verify information or prove that they are official representatives of the company. Organizations do not pressure crypto holders to perform money transactions.

Scams Get More Active during Coronavirus

We are now going through harsh times. The coronavirus has changed the lives of millions of people all around the globe. The crisis that COVID-19 has brought is devastating to many people. Nowadays people should be more cautious and protect themselves from risks coming from outside. This advice includes people’s physical well-being as well as psychological and mental health.

According to Chainalysis’ analysts, March was less profitable for scammers and the value of transactions that scammers’ wallets reached decreased by thirty per cent. The bad news is that the number of scammers who use fake email narratives and blackmail people online has dramatically surged.

There are some certain funds designated for research. Countries cooperate to do research trying to find out ways to fight COVID-19. Their priority is help people and they continue their projects relying on governments rather than private investors. People who are willing to donate crypto should first make sure they know that their donations will reach the right wallets.