Russian Crypto Scams Triple in First Half of 2020

Kaspersky Labs and other malware labs saw a sharp increase in crypto fraud in Russia in the first half of 2020.

Cyber ​​security companies saw an exponential increase in crypto fraud in Russia in the first half of 2020.

Researchers have identified 23,000 websites involved in crypto scams that are still online and target new victims. According to Kommersant, who quoted the Kaspersky Labs survey, the problem is three times greater than in the same period last year.

A common example shows that victims offer the option to complete surveys to receive commissions. However, you must first pay a registration fee. Another fraud identified by Qrator Labs concerned websites offering victims over $ 275 an hour to mine cryptocurrency with their unused but never paid computing power.

Membership scheme for fraud
The mining crooks have also asked for a fixed payment to improve the "rank" of a membership system. The more expensive the membership, the more is expected from the victim.

One of the concerns of cyber security experts is that crooks offer credit card payment methods, which increases the risk that they can also steal bank details.

They recommended credit card payers to take stricter measures to sort out potential fraudulent transactions and work closely with the police to uncover fraudsters' identities.

Fraud in the news
According to recent reports, Russian prosecutors are investigating a British company that has allegedly sold fraudulent tokens related to Telegram's completed blockchain project.

On July 3, the U.S. authorities arrested a Russian citizen suspected of Bitcoin money laundering. His boastful Instagram account, which promotes his rap career, is used as evidence against him.