The COVID-19 pandemic has hit every part of the country and this includes the world of cryptocurrency as well. Recently, the FBI released a report that indicates they expect to see a rise in crime related to cryptocurrency during this time of crisis. During this period, people are operating out of a level of increased fear. People are afraid that loved ones are going to get sick. They are worried that they might not be able to pay their rent and mortgage. Some people are even stockpiling toilet paper because they are afraid they are going to run out. As a result, criminals are seeking to take advantage of this fear.
Criminals may try to steal people’s money and launder it through the cryptocurrency, making it look clean when it comes out the other side. The most vulnerable members of the population are the elderly. This is a double-edged sword because the elderly as also most at risk of falling dangerously will with the coronavirus. Because cryptocurrency has risen so dramatically during the past few years, numerous businesses are now accepting it as a form of payment. The result is that cryptocurrency is more valuable, making it more useful to money launderers.
For this reason, people simply need to be more vulnerable and watch out for fraud schemes involving cryptocurrency. For example, people might get threatening emails or dirty letters that claim someone has someone else’s personal information. They may threaten to release it unless they get some form of payment in Bitcoin. These people might even claim to infect someone with COVID-19 unless they get this payment.
Another common scam involves asking for a donation of funds in some way. This might include asking for donations for charities, asking those who work from home to donate money into a cryptocurrency kiosk. Do not fall for these scams either.
Some scammers will even pose as someone else’s employer, demanding they do something with their money or they might lose their job. People need to be increasingly wary of these scams because these criminals are becoming more involved. During a time when many people are struggling to make ends meet, this lost money can hurt even more.
Finally, there are also criminals who make grand promises of investments coming up big, capitalizing on volatile markets. Do not fall for this either. These investment schemes usually mention new cryptocurrency developments that are going to dramatically rise in price. In reality, they are stealing people’s money for personal use. Do not fall for these cryptocurrency scams.
