Home Bitcoin Scams News Sextortion Scammers Make Off with $500000 in Bitcoin (BTC)

Sextortion Scammers Make Off with $500000 in Bitcoin (BTC)

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The scammers claimed that they had movies of individuals doing “nasty issues” whereas watching porn and demanded Bitcoin in trade for not sending the compromising materials to all contacts of the sufferer.

Regardless of the nice intentions related to them, cryptocurrencies are sometimes utilized by criminals and are more and more demanded in ransom.

In line with a report by Motherboard, scammers have made round half 1,000,000 US from the sextortion e-mails doing the rounds earlier this summer time. The extortionists claimed to have movies obtained by way of hacked webcams of individuals doing “nasty issues” whereas watching porn.

Cybersecurity consultants have discovered that this specific rip-off has been fairly worthwhile, with out that a lot of an effort required from the scammers.

“What’s worrying is that scammers had been in a position to siphon off $500,000 from previous passwords dumps, with little or no effort,” Suman Kar, CEO of cybersecurity firm Banbreach, informed Motherboard.

With the intention to receive the determine, Banbreach checked out 770 completely different Bitcoin wallets it collected by social media posts, information media reviews, and feedback on the rip-off. Nearly all of the wallets – 540 – didn’t obtain any Bitcoins, however the remaining 230 had greater than 1,000 transactions and obtained round 70.eight. BTC, which at the moment amounted to round $500,000.

Almost certainly, nonetheless, the determine is a conservative estimate as a result of Banbreach has in all probability missed a few of the addresses.

Kar informed Motherboard it was onerous to ascertain with certainty how the scammers bought these previous passwords, however they had been more than likely obtained from information breaches of LinkedIn and the Anti-Public Combo listing, which is a set of assorted information caches which have turned up in searches within the breach notification website Have I Been Pwned.

Different broadly lined latest scams embrace the infamous WannaCry malware, which additionally demanded ransom funds in Bitcoin, and the “well-known individual freely giving Bitcoins and Ethers” hoax on Twitter. Along with the sextortion e-mails, fraudsters have additionally used snail mail letters despatched to allegedly cheating husbands to get Bitcoin in trade for retaining the key.

In direction of the tip of July, the creator of this text additionally bought such a sextortion e-mail, demanding that $2,750 in Bitcoin be despatched to a sure deal with. The missive began off with the scammer claiming to have one of many “secret passwords,” giving an previous one the creator used years in the past for some web sites. 

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