Analysts at the Whale Alert service, which tracks large cryptocurrency transactions, report that over the course of 2020, scammers were able to lure $ 24 million out of trusting MTC users.
In his report, Whale Alert reports that it used the Scam Alert tool to track criminal transactions to analyze fraud messages, websites and Bitcoin addresses.
According to the report, over the past four years, scammers have been able to get about $ 38 million in the military-technical cooperation. Of course, we are talking specifically about fraud, and not about cryptocurrency pyramids, the losses from which are orders of magnitude greater. Analysts expect that by the end of 2020, the amount of funds received by cybercriminals will reach $ 50 million.
Whale Alert notes that in recent times the number of frauds has increased markedly, they have become more aggressive and sophisticated. For example, for fraud with fake Bitcoin distributions, cybercriminals use the identities of famous people like Ilon Mask and buy ads on YouTube to force the victim to list the MTC.
The most successful cases of fraud are most likely professional criminals. However, despite the fact that there are many different types of fraud, they all have one thing in common: the criminals behind them have almost no risk of being caught.
“It is absolutely clear that the efforts made to combat such scammers are not enough. If we don’t act as an organized community, then the reputation of the blockchain may not be restored in the long term, and outsiders will look at the industry as a breeding ground for fraud, ”concluded Whale Alert.
In June, it was reported that in 2019, 1,810 complaints about cryptocurrency fraud were filed in Australia. In Australia alone, attackers were able to lure users of cryptocurrencies worth $ 14.9 million.