At the moment, as an active user of cryptocurrency and any other digital monetary systems, you put your hands (and your investments) on the network; you are instantly at risk of losing all, or at least a big part of your business or investment. There is a bunch of chances of having your money stolen. A lot of these methods and lies are subject of a serious investigation, and data analysis by a diverse group of companies, and experts. Digital robbery exists and it can inflict a lot of damage to finances at present.
Scams are everywhere online and cryptocurrency exchanges are likely to be vulnerable. As you consider investing in different startups and exchange platforms, be aware of a lot of possible ways of losing your cryptocurrency investments and business.
Criminal Events Still Remains Well Below 1%.
A recent analysis in data showed that crypto scams have become a very usual cybercrime since 2019. The current 2020 drop in the value of crypto scams is related to the general absence of scams on a big scale like the Plustoken Ponzi.
The loss of cryptocurrency investments is a subject of discussion worldwide. Data also shows that the share of cryptocurrency-related crimes to overall crypto-activity even after a chain of recent criminal events remains well below 1%.
Still, the blockchain analytics states that those figures are just a fine layer covering something denser. Some experts say that the final numbers are eager to grow due to unreported and uncovered scams that have previously happened, and are still happening right now.
Scams and other Cryptocurrency-Related Crimes are Not New
For the time being, it is important to say that scams and other cryptocurrency-related crimes are not new; it has been happening a lot during all these years. The most notable method to scam users is the impersonation of important persons or companies. Even social media accounts are being produced massively with the sole purpose to camouflage the crime.
Begging for sending cryptocurrency with the promise of more in return is the typical argument these kinds of hackers, scammers, and other criminal organizations use to “fish” innocents and non-prepared users. This method is old and has turned into a supernatural force these days; this is mainly possible by the high connectivity and effectiveness that the Internet possesses.
Another source shows that this type of scam, trust trading, or secure trading has a high percentage of activity since 2018. There are a lot of confirmed reports that support this figure.
This data reveals that the most common social network used by hackers is twitter which has reportedly shown 13.14 BTC worth approximately $120,000.The analytics firm has identified three main addresses used by scammers but it also notes most of the stolen coins and funds were (in fact) consolidated in the bitcoin wallet address.
Whale Alert also saw several large BTC transfers on Monday afternoon but these bitcoins were sent to unknown wallets. The investigation is still ongoing, so there will be more information in the days to come.
By Jenson Nuñez.