Beware of a new scam – don’t pay crypto for virus treatment

Beware of a new scam – don’t pay crypto for virus treatment

Crypto scamming is nothing new. Criminals have amassed billions from their machinations over the last few years. There are lots of ways to relieve gullible or beginner investors their coins. Sometimes it’s with the promises of a hefty profit, sometimes something else.

However, scammers found new ways to get cryptos during the coronavirus crisis. FBI warned citizens about several schemes which criminals may use.

According to the agency, scammers can offer fake COVID-19 treatments or preventative measures along with executing somewhat more traditional investment scams. There are also cases of false charity suggestions.

Online perpetrators mislead people into thinking they are sending crypto donations to the World Health Organization to fight the pandemic. Several of them have already tried to steal Bitcoin through this method.

Anyone who suspects a scammer is targeting them should verify that the charities are legitimate and accept cryptocurrencies for donations. The FBI presses the necessity to demand proof before acting. Even if the organization is legitimate, if they pressure people to use a virtual currency, citizens should consider it as a red flag.

Furthermore, alongside home scams, scammers may attempt blackmail. In that case, People would get an email or letter in which the author threatens to infect the victim or their family with coronavirus. To avoid that, they must transfer some money to a provided Bitcoin wallet address.

Who are under more risk of getting targeted?

The FBI stated that people of all ages could be victimized by such scams. However, the elderly are particularly vulnerable. Criminals exploited numerous virtual asset service providers online, as well as thousands of cryptocurrency kiosks located throughout the world, to facilitate their schemes.

Blockchain forensics firm Chainalysis also published new data on April 10. According to the firm, the number of scams involving blackmail or fake email narratives has jumped. On the other hand, the average value of transactions received in the wallets of known scammers dropped by 30% during March.

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