Scam

A new crypto scam originating in China and involving the loss of at least $1.1 billion worth of cryptocurrencies from more than 700,000 users is thought to be related to the previous Plus Token Ponzi scheme that also exited with some $2.9 billion.

On April 30, GoogleAds were exposed in sponsoring phishing ads for scam alternatives to crypto exchange CoinCorner. Meanwhile, the company itself failed to secure its spot with the search engine’s promoted ads. Therefore, this puts into question the entire attitude of big tech towards cryptocurrency.

It seems using the names of celebrities has become a trend among scammers. Another fraudulent investment platform Bitcoin Pro uses fake endorsements from CNN anchor Jake Tapper.

Some well-known industry players, such as Google and Apple, have to take up extra measures to shield cryptocurrency users from scams during pandemics. Their efforts will now be directed at blocking malicious advertisements on the internet as well as protecting mail users from phishing emails.

While most of the world is in a lockdown due to the COVID-19 pandemic, many people have lost their jobs or sources of income. While searching for a way to improve the situation, it is rather easy to fall victim to a fraudulent scheme.

Recently, fake rumours spread that Harry and Meghan are becoming financially independent, and trading platform “Bitcoin Evolution” is helping them to achieve it. This scam adds on to other fraudulent activities that already took place during COVID-19.

The number of scam projects seems to grow proportionally to COVID-19 cases. Now, scammers are posing themselves as the National Health Service (NHS) to trick the citizens of Great Britain out of their cryptocurrency.

For the past few years, YouTube has had a policy of banning and even deleting channels promoting, analyzing, or talking about bitcoin and other cryptocurrencies. While the platform itself states they are trying to protect their users against scams, some community members say it much resembles ordinary censorship.

Panic and chaos is always an advantage to criminals, making it easier to get away with their illegal activities. However, law enforcement agencies in the USA do their best to deliver the rightful punishment to those who wish to get rich using the situation, and the effectiveness of their work grows even faster than the crime rate.