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Bitcoin Scams

Cryptocurrency Scams: More Than $2 Million Stolen In Q2 Of 2018

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According to a new report from Kaspersky Lab, which is one of the leading antivirus software platforms, the cybercriminals earned more than $2.3 million during the second quarter of 2018.

The Spam and Phishing in Q2 2018 report also noted that the company prevented almost 60,000 attempts by users from visiting fraudulent and scam web pages which featured popular cryptocurrency wallets and exchanges – from April to June this year.

The crypto scammers worked in a simple way. They earned the funds by luring the victims to send their coins to fake ICOs and token distributions, according to Kaspersky. On top of this, there were websites which were ‘masked’ as popular cryptocurrency services, adopting phishing practices for stealing usernames and/or passwords.

The company’s news release was submitted by Nadezhda Demidova, the lead web content analyst at Kaspersky. As she stated:

“The permanence of attacks targeting financial organizations reflects the fact that more and more people are using electronic money. Still, not all of them are sufficiently aware of the possible risks, so intruders are actively trying to steal sensitive information through phishing.”

The Kaspersky report also demonstrated the reach of phishing scams, where South America and Asia saw the most activity in this area. Brazil was one of the most popular countries for these scams, with 15.51% of all the phishing attacks, followed by Georgia (14.44%), Kirghizstan (13.6%) and Russia (13.27%).

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