Fraudsters Using COVID-19 Situation To Target Crypto Holders: FBI
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Fraudsters Using COVID-19 Situation To Target Crypto Holders: FBI

April 14, 2020      Jyoti Singh

The Federal Bureau of Investigation (FBI), on April 13 released a warning stating that amid this pandemic situation, the fraudsters are planning to unleash the flow of cryptocurrency scam around the world.

Universal Complex Issue

FBI considers that this scam has become a very complex issue, as now a large number of merchants have started accepting crypto during the trade.

The FBI warning stated, “Fraudsters are leveraging increased fear and uncertainty during the COVID-19 pandemic to steal your money and launder it through the complex cryptocurrency ecosystem.” The warning also stated that the scammers are not targeting any specific age group people.

The agent believes that the fraudsters would change themselves according to the current situation. They (Scammers) might appear as a remote worker who is new in this field and collect donation through emails or might pose as a vendor of safety equipment who works beside e-commerce. The agent further stated that the fraudster may also work as a charity who accepts cryptocurrency.

FBI Warns Internet Users 

The warning released by the FBI read that the scammers might also use the traditional method of scam i.e., by blackmailing others but in that also they would include some new twist. For instance, the fraudster might blackmail a person to infect him and/or his family with COVID-19 unless he pays the fraudster in the Bitcoin wallet.

While notifying the internet users, the agents have stated that if by chance they receive any such message, then they should imply a common sense and verify it and if they find anything wrong then immediately report it to law enforcement.

A report suggests that the warning released by the FBI is an initiative by the government against the COVID-19 crypto scams.

Additionally, the report states that recently, the Asian countries needed the PPE kits and the fraudsters take the advantage of the situation, pretend to be the seller, and stole $2 million in crypto from them.

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#Asian countries #COVID-19 #COVID-19 crypto scams #Federal Bureau of Investigation (FBI) #PPE kits #Scammers
Jyoti Singh
Jyoti Singh

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.