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Crypto scammers' income fell by ...

Crypto scammers’ income drops 30% despite the rise of shadow schemes

  • Crypto Fraud Revenue Down 30%

  • The number of shadow schemes is still growing.

  • One of the reasons for the fall was the collapse of the cryptocurrency market

International consortium of news organizations, developing transparency standards.

Despite the increase in the number of fraudulent schemes, income from them fell by 30% along with the entire cryptocurrency market.

Ponzi schemes and other fraudulent investment schemes have earned far more than all other types of cryptocurrency scams. In 2019, these shady schemes received 95% of all funds stolen in the cryptocurrency industry, according to a study from Chainalysis..

However, since the end of the week ending March 8, the average weekly income from investment scams has decreased by 33%, from $ 4.2 million to just under $ 2.9 million..

Despite the increasing frequency of phishing attacks associated with the coronavirus pandemic, attackers began to receive less profit precisely because of the collapse of the cryptocurrency market, when Bitcoin lost almost 30% in price in just a day..

Lack of season

Chainalysis clarifies that the drop in cybercriminals’ income is also due to the fact that most of the phishing schemes require the same fixed amount from victims, usually about 0.2 BTC – in all their phishing ads via email, YouTube, social networks and on their own websites.

It turns out that despite the growth of shadow schemes associated with Covid-19, the decline in cryptocurrency prices caused by the pandemic has sharply reduced the income from this type of activity..

Taste and color

Fraudsters, posing as a WHO department, even “collect donations” in bitcoin to fight coronavirus infection.

Crypto scammers' income fell by ...

True, unlike scammers, WHO does accept donations, however, on the official website of the foundation there is not a hint of accepting donations in bitcoin.

Earlier, we wrote that for a new scheme of illegal enrichment, crypto scammers decided to win over such famous members of the British royal family as the Duke and Duchess of Sussex..

By the way, coronavirus is far from the last way to make money in a fraudulent way. Now hackers have developed several free QR code generators at once, which were able to steal about $ 45,000 in cryptocurrency..

Meanwhile, the FBI was able to calculate the total number of stolen funds using phishing scams. According to the FBI spokesman, since October 1, 2013.

Crypto scammers' income fell by ...

until November 7, 2019.

Crypto scammers' income fell by ...

scammers were able to earn about $ 144.35 million.


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