Bitcoin malware scam takes $79,480 from unsuspecting users


  • Bitcoin malware scam used to defraud bitcoin user
  • Crypto scam remains on the rise.

A Bitcoin malware scam has recently tricked a Bitcoin user into spending Bitcoin worth over $70,000.

Crypto scams have been at the forefront of scams being perpetrated and, most recently, social media site, Twitter was used to execute one of the biggest heists ever seen in the history of the industry.

This, however, was not a one-off. It continues the long line of crypto scams that had become increasingly regular ever since 2017 when the rise of the Bitcoin malware scam became widespread.

Not only is the malware scam or the social media advertisements scam on the rise, more advanced scams are also being used in the industry on unsuspecting crypto users.

According to Whalebot, an unsuspecting user recently made a 7.011 Bitcoin payment to a malware account which had been active since July 2019. The payment has been confirmed to be approved and successful.

Bitcoin Malware scams and other crypto scams are on the rise 

Like we stated earlier, crypto scams are on the rise again with the most popular being the social media ad scams.

The global pandemic has been used as a tool by these scammers who use different techniques like social media ads, internet pop-up, email phishing and other notorious ways to defraud crypto users.

These ads tend to make promises that are too enticing, as they tend to promise the users loads of benefits and an opportunity to either double or triple their crypto holdings.

Not only that, YouTube videos and names of trusted individuals and companies are being used to perpetrate these scams too.

Fraudsters have used images of Changpeng Zhao, CEO of Binance, name of Elon Musk and his company, Tesla to carry out scams that are worth thousands of dollars. 

As it stands, over 200 Bitcoin scams have been reported, and there are lots more that are either unreported or underreported.

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Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

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