Recently, the Chinese Olympic Committee has issued a significant warning to the residents of China, stating that they weren’t associated with these scams. They also reported that one of the scammers even claimed to be related to the World Olympic Sports Foundation, which is an entirely fictional organization.
The scammers are also telling the investors that they can help them invest in many products using blockchain technology. Many people solely believe this without giving any second thoughts as the scammers are inserting the word Olympics to any unrelated topics.
Scams related to Blockchain technology
The scan mentioned above was just a part of the total scams in the world. As the world as a whole is suffering from the sudden outbreak of Coronavirus, scammers are taking this to their advantage to lure many investors. They are taking advantage of the fear and lack of information of the investors while seeking their digital currencies like Bitcoin.
According to a report, approximately $991,000 lost due to Coronavirus-related scams, and that was just in February.
Most of these scams involved fake websites offering sanitizers, masks, and other essentials for a discounted rate. Many cases observed where the scammers claimed that he was associated with the World Health Organisation (1) and told the costumers that they would get a copy of the Coronavirus patients in their area by paying a small amount to WHO.
Scammers have also come up with a twisted version of Sextortion scams, wherein, now, they send an email to the victim claiming that they would spread Coronavirus to their families and friends if they do not pay $4,000. They are even aware of the security protocols as they mention that the payment should be made with Bitcoin.
