Bitcoin News and Finance
Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’ Skip to main content

Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’

Fraudsters Offer Russians to Invest in Fake ‘State Cryptocurrency’

Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the website of the fraudulent investment scheme, security experts said.

Thousands of Investment Offers Entice Russians to Put Money Into Non-Existent Cryptocurrency

Fraudsters have been sending emails to Russian residents claiming to be writing on behalf of a regulatory body about the upcoming launch of “the Russian state cryptocurrency,” the Tass news agency reported, quoting Kaspersky Lab.

“With such messages, attackers lure users to resources where they risk losing money,” the cybersecurity firm explained. Several thousands of these letters had been sent by the end of February, the anti-virus provider revealed.

The fraudulent emails claim that Russia is preparing to introduce a state-issued crypto and encourage recipients to follow a link to the website of the investment program for the coin. The site also presents a project purportedly developed by Pavel Durov, the founder of Telegram, the most popular messenger in the crypto community.

The platform offers visitors a bogus chance to invest in the project and earn even more in the future. In reality, the deposits made by the victim go to the scammers. Investors would not get anything back and risk compromising confidential information shared with the website.

The anti-spam systems of Russian tech giant Mail.ru block over 200,000 emails from crypto-linked scams every day, according to the technical director of the group’s business unit. Around 15% of them are disguised as letters allegedly sent on behalf of regulators, Andrey Sumin detailed.

To avoid becoming victim to a fraud like these, experts recommend that users improve their digital literacy in the first place, use a security solution for their smartphone and PC, be careful with email content, and refrain from clicking on links from unknown sources or entering sensitive data on suspicious websites.

The Central Bank of Russia has been working on a project to issue a digital version of the nation fiat currency. The digital ruble will be the third form of Russian money besides cash and electronic bank money. It will be used for payments, not investments.

In February, the monetary authority announced it plans to start testing it with real users and transactions on April 1, aiming for a full launch in 2024. Russia has yet to comprehensively regulate decentralized cryptocurrencies like bitcoin.

Do you know of similar fraudulent schemes? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory