- COVID-19 brought the world to a standstill in March 2020, a curious phenomenon has started plaguing the internet.
- Multiple fraudulent websites are using the pandemic to peddle fake wallets and cryptocurrencies.
- One such site has even claimed that the value of their crypto coin increases every time a person dies of COVID-19.
Since the global pandemic, COVID 19 brought the world to a standstill in March 2020, a curious phenomenon plaguing the internet. Multiple fraudulent websites are using the pandemic to peddle fake wallets
and cryptocurrencies. One such site has even claimed that the value of their crypto coin increases every time a person dies of COVID-19.
COVID-19 and Cryptocurrencies
COVID-19 and Cryptocurrency: Reports have found that hackers and scammers using the pandemic for their nefarious activities. While medical scamming websites are usually common, this is the first time that phishing websites are using the pandemic to sell fake cryptocurrencies. The idea, as found by these studies, is to siphon data that the websites will use in the future for targeted malware attacks and credential stealing. Research shows that between January and March, there has been a 50% rise in the number of victims of such phishing sites. The number of such phishing sites also rose by a massive % during the same period.
The one website that attracted most researchers is the one that claims to sell the world’s fastest-growing cryptocurrency. It tells visitors that this particular currency increases in value with every increase in the number of deaths due to the virus. It tries to get people to download suspicious files from GitHub. Another website can notify them about the COVID coin whose price rises with the rise in COVID deaths.
An overview of the matter
While phishing websites engaging in malware attacks. Data thefts have existed since the invention of the internet, the rise of such websites during a global pandemic is alarming. Also alarming is the fact that these websites are associating cryptocurrencies with COVID deaths. Unless governments deal with such websites, these will harm the credibility of cryptocurrencies.