$ 29,799.00 1.02%
$ 1,941.77 3.30%
$ 47.86 3.89%
$ 0.083167 1.51%
$ 7.18 5.51%
$ 1.32 7.08%
$ 0.000168 0.50%

Scammers have made over $332k in Bitcoin scam since 2017

scammers take 300k in email sextortion

Researchers have found that over three hundred and thirty-two thousand dollars have been paid in Bitcoin to the scammers running their network through online blackmailing.

The scammers have reportedly used a little over thirty-one hundred unique Bitcoin wallet addresses to extract money. Scammers would blackmail their target through an email-based scam technique.

The most common example that falls under email blackmailing is the “sextortion”, illicit imagery capture through hacked webcams. The criminals reveal their imagery captured in secret and demand a ransom in Bitcoin to have them destroyed. They threaten to put the image on public domains open for public viewing.

Other extortion techniques include enterprise data, sensitive information and private financial information such as credit card details.

The report has studied around seven hundred and ninety-two thousands of emails for the research. The study was conducted on a global scale and included samples from five continents. India and Vietnam are among the top scamming countries.

The report further reveals that social media is a major tool for building data on the victim when sometimes users were not actually hacked; however, their pictures taken from social media were manipulated and then used for extortion.

The details revealed in the research report by Digital Shadows make only a fragment of real picture in the industry. The actual numbers of scams and the amount lost are actually beyond measure since most such cases go unreported.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

Related News

Hot Stories

Here's why attorney Jeremy Hogan believes Ripple lawsuit is nearing 'endgame'
Mastercard backs crypto despite market decline
Terra (LUNA) Rebounded over 1000% in A Day? — Can Investors Expect Any Ray of Hope?
XRP Price Prediction 2022-2030 [After Lawsuit]
Green Satoshi Token Price Prediction 2022-2031: Is GST A Good Investment?

Follow Us

Industry News

Singapore VC firm gets a $100 million metaverse and Web3 fund
Andreessen Horowitz raises $4.5 billion to back crypto firms
Babel Finance hits a $2b valuation with $80m in funding
The UpLift DAO team joined a closed VIP Discussion with Dr Gavin Wood on what it takes to Build a Better Web3
Mastercard backs crypto despite market decline