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Crypto Scammers Take It Easy As COVID-19 Pandemic Wreaks Havoc

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Blockchain analysis firm, Chainalysis has recently issued a report in which it has been found that since March 2020, COVID-19 managed to slash crypto scammers’ revenue by 33%. That said, the firm believes that this doesn’t reflect the entire story.

Key Findings

 ▪ The total daily value sent to cryptocurrency scams significantly dropped by 61% within a span of two weeks (March 13 to 31,2020)
 ▪ Most scam revenue losses have been associated with investment scams and Ponzi schemes
 ▪ Not as many scams in relation to COVID-19 as one would have assumed

Bearing the aforementioned in mind, it turns out that crypto scammers are trying to find different ways to lure and trick investors. The firm has since noted that there are two primary ways in which cryptos scams are currently taking place: phishing and blackmail scams.

@TradeCryptoNow
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