NEW YORK (Reuters) – Computer-intelligence-enterprise cipher trace, began the pursuit of a cryptographic money of a criminal offence a few years ago, said it has begun to see the corona-virus-related frauds, that a certain form of digital currency payment.
FILE PHOTO: a representation of the virtual currency Bitcoin has been seen on a motherboard in this picture illustration jobs on April 24 in the year 2020. REUTERS/Dado Ruvic /Illustration/photo file
Losses of crypto money-thefts, hacks, and cases of fraud rose to nearly $1.4 billion from the beginning of the year until the end of may, a report from the cipher-trace showed.
The share due to the corona virus Scam with crypto currencies for the first five months of the year, he was, at least, cipher, trace said, but there was a certain figure.
This year, computer crime, and is on the way, the second largest on record, after last year 4.5 billion dollars losses.
“Consumers, investors, and users to continue to take crypto money at a massive rate, and it is by far the fastest-growing payment system on the planet,” Dave Jevans, cipher, trace and chief executive officer, told Reuters.
“On a trillion dollars in annual transactions, crypto-money payments have to be added from zero to more than 7% in 10 years, so that the volume of funds added attractive to bad actors,” he said.
Corona-virus-business-fraud usually took place by luring victims to legitimate platforms in the chat rooms, where the payment is made in bitcoin can be applied for the cipher-trace, said in the report.
COVID-19 fraud has also the tasks of the form or embodiment of legitimate organizations, such as The Red cross, to extract personal information and payment in cryptocurrencies, applications that claim to support for the victims, but we are both on the espionage and the sale of counterfeit personal protective equipment, treatments and testing kits.
Although the majority of the COVID-19-in respect of products that are advertised on the darknet markets, it has not sold too many sales on these markets, corona-virus, phishing kits, the said law successfully, the cipher-trace.
The largest contribution to the crypto-losses in this year were in the $1-billion-Ponzi-System of Wotoken in China, the scale of the came last month, in a criminal case, according to the cipher trace report.
The Wotoken scheme offered investors the opportunity to generate income, which it offered to the user through the use of algorithmic trading, also offer a referral Commission to affiliates, news reports said. However, the announced stock software and it is not available.
The cipher trace report, the published results show that for the third year in a row, the Finnish exchange in the year 2019 and received the highest number of bitcoins, which is supposed to have, the from criminal sources. Sometimes 12.01% of the tainted bitcoins went through their trading platforms in the past year.
Reporting by Gertrude Chavez-Dreyfuss; editing by Alden Bentley and David Gregorio