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Beware of New Tactics of Digital Extortion in Crypto

Beware of New Tactics of Digital Extortion in Crypto

Scammers are willing to stoop to some pretty low levels, so when basic deception doesn’t work or isn’t their forte, they’ll use any other technique. Including extortion. One day, you may open a harmless-looking email and find a threatening note telling you how they have intimate photos of you, and they’ll publish them unless you send money. Other cases include blocking all your data, unless you send them Bitcoin —that’s ransomware. And there are more types.

A lot of victims have lost millions like this. According to the FBI’s Internet Crime Complaint Center (IC3), they received 149,686 complaints related to crypto-scams specifically, and $9.3 billion in losses by 2024. That’s a 66% increase in incidents related to the previous…

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