Beware! Scammers Are Out for Crypto Amid the Coronavirus Pandemic

Beware! Scammers Are Out for Crypto Amid the Coronavirus Pandemic

As the world continues to battle with the deadly coronavirus pandemic, immoral cybercriminals are once again on the prowl. This time, they are using the chaos and fear through phishing techniques and sophisticated malware hacks to access people’s crypto holdings. On March 27, residents in the United Kingdom received warnings from their local councils “to be on their guard against a series of scams attempting to take advantage of the coronavirus outbreak.” Scammers have been using other tricks to lure victims, including the use of false Bitcoin (BTC) donation channels, fake maps of the coronavirus’s spread that steal private data from computers and that install ransomware programs that can only be unlocked with Bitcoin. Fortunately, regulators such as the United States Securities and Exchange Commission and various American states, in addition to local councils in the U.K., as well as the European Central Bank, have all issued warnings of investment scams.

False claims for Bitcoin

Some of the common schemes include scammers claiming to possess lists of people who have tested positive for COVID-19 in a given area that they will sell to local residents in exchange for Bitcoin. According to research, this is done via phishing emails and texts that falsely claim to be from organizations such as the World Health Organization. With email subjects such as “HIGH-RISK: NEW confirmed cases in your city,” the scammers trick unsuspecting users into opening the emails. The hackers then use malicious links in the email that, when clicked, steal users’ private data. Read More...