More & More Scammers are Stealing Crypto!

 More & More Scammers are Stealing Crypto!

Scammers deceive unsolicited individuals with crypto scams and deepfakes to gain access to their financial and personal information, says a new report by NoronLifeLock. In India, between January and March 2022, Norton said over 18,013,055 threats, 59,907 phishing attempts, and 31,062 tech support scams were recorded,

In its quarterly published Consumer ‘Cyber Safety Pulse Report’, Norton Labs said crypto scams are trending as cryptocurrency becomes more widely adopted. The cybersecurity firm tracked over $29 million in bitcoin stolen in 2021 and expects this figure to continue to rise in 2022 as the crypto market’s value increases and scammers capitalise on world events, including the humanitarian crisis in Ukraine to steal donations from philanthropic crypto investors.

Deepfakes are being utilised by bad actors to scam consumers and spread disinformation. The company noted that it has spotted deepfakes used to create fake social media profiles, fuel charity scams and other fraudulent ploys, and spread propaganda relating to the ongoing war in Ukraine, in addition to deepfakes used simply to make funny videos.

“Scammers are always evolving their tactics to make their attacks look more believable,” said Darren Shou, head of technology, NortonLifeLock. “Cybercriminals are masters at profiting from deception, so it’s crucial for consumers to be aware of the latest scams and to critically analyse anything suspicious they encounter on the internet, whether on social media or in their inbox. We are here to help consumers navigate a changing digital world where you can’t always believe what you are seeing.”

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