Fun

Bitcoin Email Scams 2020: Threatening Blackmail Tactics Used to Demand BTC

News Feed - 2020-04-24 05:04:29

Bitcoin Email Scams 2020: Threatening Blackmail Tactics Used to Demand BTC


The number of bitcoin email scams has been growing in 2020 and the authorities in several countries have warned of new blackmail tactics used in threatening email scams asking for bitcoin. As the world scrambles to cope with the coronavirus pandemic and economic crisis, email scams are taking advantage of people’s fear to extort bitcoin.Bitcoin Email Scams 2020


The coronavirus crisis has caused a lot of panic and scammers are taking advantage of people’s fear. Those looking to blackmail victims for bitcoin know no borders as bitcoin blackmail email scams have been reported in a growing number of countries.


“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 U.S. Federal Bureau of Investigation (FBI) recently warned. The federal agency has seen a rising number of email scams asking for bitcoin payments. Noting that these email scams attempt to blackmail victims using various alarming tactics, the FBI described:With the advent of covid-19, there is a new twist on this scam. The correspondence claims that the writer will both release your information and infect you and/or your family with coronavirus unless payment is sent to a bitcoin wallet.The U.S. Federal Bureau of Investigation (FBI) has warned about the rising number of bitcoin blackmail email scams involving covid-19.Sextortion Email Scam Proliferating


Besides the emergence of coronavirus-focused email scams, sextortion email scams asking for bitcoin have also been on the rise in 2020, even though they are not a new tactic. People have shared their stories on social media of receiving bitcoin sextortion emails, such as on Facebook, Twitter, and Reddit. The U.K. and Canada are among the latest countries to see a rising number of sextortion email scam complaints asking for bitcoin.


With sextortion, scammers threaten to release steamy videos of the victim online. They may claim to have placed malware on a porn website visited by the victim, allowing them to record the target’s screen with a webcam. The blackmail email then requests bitcoin or the steamy videos of the victim would be posted on social media. The Canadian Anti-Fraud Center recently explained:A common sextortion email claims to have proof of you visiting a pornographic site and requests a bitcoin payment within 24-48 hrs or the content will be shared with your contact list.


In Canada, Halton regional police recently warned of fraudulent emails circulating in Southern Ontario attempting to extort bitcoin from residents. Investigators said that they have received more than 30 complaints about the same email, which reveals the recipients’ current or previous passwords and demands bitcoin. The email threatens to post an explicit video of the recipient online if a bitcoin payment is not made.Fraudsters use many tactics in an email scam, such as threatening to post steamy videos of the victims online. Their goal is to induce fear in the victims, enough to shell out bitcoin in order to silence them.Bitcoin Email Scams Threatening to Spill ‘Dirty’ Secrets


Besides sextortion, a bitcoin blackmail email scam can also threaten to spill the victim’s dirty secrets. The U.S. Federal Trade Commission (FTC) previously described this email scam tactic: “Someone says they know about an alleged affair, or something else embarrassing to you, and demands payments with bitcoin or another cryptocurrency in exchange for keeping quiet.” According to the FBI:Threatening emails or letters in which scammers claim to have access to your personal information or knowledge of your ‘dirty secrets’ and demand payment in bitcoin to prevent release of this information have been circulating for years.


There are several other threatening tactics that email scammers often use to extort bitcoin from victims. Ransomware scam emails used to be more prevalent but research has shown that its popularity has dwindled lately. Some scammers attempt to blackmail victims into handing over a “bitcoin password” to give them access to the coins.


Scammers will try to intimidate the victim, using threats and high-pressure tactics, to acquire immediate payment. The FTC said this action is not only a scam, but it is also a criminal extortion attempt. The agency urges anyone coming across such a scheme to report it to the authorities, such as local police, the FBI, the FTC, or their counterparts in other countries.


What do you think about all the bitcoin email scams in 2020? Let us know in the comments section below.Petro-Dollar System Crumbles: US Dollar Could Collapse from the World"s Oil WarsFEATURED | 2 days agoThe Vacate Manifesto: How Today"s Technology Can Solidify Abolitionist GoalsFEATURED | Apr 11, 2020Tags in this storybitcoin blackmail email scam, bitcoin email scams 2020, bitcoin porn scam, Bitcoin Scams, email demanding bitcoin, email scam asking for bitcoin, have i been pwned, password bitcoin scam, sextortion email bitcoin, threatening email bitcoin


Image Credits: Shutterstock, Pixabay, Wiki CommonsPurchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here.Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Read disclaimer Show comments

News Feed

No Bitcoin ETF for Europe, but EU still leads in diversified crypto investments
Veronika Rinecker11 hours agoNo Bitcoin ETF for Europe, but EU still leads in diversified crypto investmentsThe SEC has already approved several spot Bitcoin ETFs in the U.S.; however, these ETFs are not allowed in the E
Why Are ‘Bitcoin Group’ and ‘Bitcoin Revolution’ Such Popular Searches on Google?
Why Are "Bitcoin Group" and "Bitcoin Revolution" Such Popular Searches on Google? Google searches can reveal a lot about the perception of the masses when it comes to bitcoin. Th
Montenegro Appellate Court upholds Do Kwon extradition to South Korea
Vince Quill6 hours agoMontenegro Appellate Court upholds Do Kwon extradition to South KoreaSince 2023, the decision to send the Terraform co-founder to South Korea or the United States has been contested in Montenegrin c
1,590 CoinStats crypto wallets ‘affected’ in security breach
Ciaran LyonsJun 23, 20241,590 CoinStats crypto wallets ‘affected’ in security breachCryptocurrency portfolio manager CoinStats has assured users that the security breach has been “mitigated,” and it will provide
Messari Says Initial Dex Offerings Are ICO 2.0, Urges Investors to Resist Initial Hype
Messari Says Initial Dex Offerings Are ICO 2.0, Urges Investors to Resist Initial HypeCrypto research firm, Messari says new Defi token offerings or initial dex offerings (IDO) are
Why is the BNB price up today?
Yashu Gola6 hours agoWhy is the BNB price up today?BNB’s price has reached its highest point since November 2022, with an underperforming Bitcoin and a gaming platform launch on Binance Launchpool serving as primary ca
El Salvador Buys More Bitcoin: 420 BTC Added to Treasury
El Salvador Buys More Bitcoin: 420 BTC Added to Treasury El Salvador, the country that made bitcoin legal tender alongside the U.S. dollar, has bought the dip again. The Salvadoran
ECB Raises Benchmark Rate by 75bps and Tones Down Long-Term Refinancing Operations
ECB Raises Benchmark Rate by 75bps and Tones Down Long-Term Refinancing Operations On Thursday, the European Central Bank (ECB) announced the central bank’s third consecutive ben
Spot Solana ETF might 9x the price of SOL — GSR Markets
Brayden Lindrea4 hours agoSpot Solana ETF might 9x the price of SOL — GSR MarketsThe crypto market maker’s forecast for Solana was based on a “blue sky” scenario, while its “bear” scenario only predicted a 1.
Tesla CEO Elon Musk Opposes Governments Regulating Crypto, Says They Should ‘Do Nothing’
Tesla CEO Elon Musk Opposes Governments Regulating Crypto, Says They Should "Do Nothing" Tesla CEO Elon Musk thinks governments should not try to regulate cryptocurrency. “I
Everything Bitcoin: L2s see wave of adoption, but security needs to catch up
Ana Paula Pereira3 hours agoEverything Bitcoin: L2s see wave of adoption, but security needs to catch upThe Bitcoin 2024 conference showcased dozens of protocols driving innovation on the Bitcoin blockchain. Cointelegrap
Turner Wright6 hours agoOpening arguments begin in Sam Bankman-Fried trial“His girlfriend will tell you how they stole money together,” said Assistant U.S. Attorney Thane Rehn in an opening statement about the former