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FBI: Cybercrime Has Quadrupled During the Coronavirus Pandemic | #cyberfraud | #criminal | #cybersecurity | #informationsecurity


The FBI is claiming that there has been a sizable spike in cybercrime since the pandemic began in the United States.

When there is a crisis, there are often malicious actors looking to exploit the situation. According to the FBI, COVID-19 has caused cybercrimes to increase rapidly.

Cybercrime Reports Quadruple

During a discussion panel hosted by the Aspen Institute, FBI Deputy Assistant Director Tonya Ugoretz said that cybercrime has exploded since the COVID-19 pandemic began. She said that the number of reports has quadrupled. [ZD Net]

The Internet Crime Complaint Center is now receiving some 3,000-4,000 complaints daily. The methods of fraud have been multi-fold. Some scammers opt for creating fake domains, COVID charities, fraudulent equipment and, in some cases, outright extortion.

The FBI also suggests some of these crimes may be motivated by belligerent foreign actors.

“We have certainly seen reconnaissance activity and some intrusions into… institutions,” said Ugoretz.

Those working with COVID-related research have often found themselves the victims of such attacks. Based on these concerns, healthcare entities have been warned to strengthen their supply chains.

How Much of It Is Cryptocurrency-Related Crime?

The FBI discussion panel did not single out the cryptocurrency space as one of the main areas for cybercrimes during the pandemic, but some scammers have tried to exploit the situation.

One copied-and-pasted message from a scammer threatened to infect “your whole family with coronavirus.” The message tried to extort families of BTC. The absurd threat elicited mockery on crypto-Twitter, but it demonstrates how desperate scammers have become. Remote workers have especially found themselves under such threats.

Still, older scam tactics continue to be used amid this pandemic. It was recently uncovered that malicious actors were using fake quotes from the British Royal family to bring in victims.

However, despite the crisis, state agencies continue to crack down on cryptocurrency scams like before. Last month, BeInCrypto reported that Canadian regulators busted two cryptocurrency firms for promising returns. As the Manitoba Securities Commission (MSC) said, if it sounds ‘too good to be true’ than it most likely is.

During this pandemic, cryptocurrency traders and holders should take extra precautions to ensure that their funds are safe. BeInCrypto has produced a guide on how to secure your cryptocurrency holdings amid this volatile period.


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Images courtesy of Shutterstock, Trading View and Twitter.

Disclaimer. Read MoreRead Less

As a leading organization in blockchain and fintech news, BeInCrypto always makes every effort to adhere to a strict set of editorial policies and practice the highest level of journalistic standards. That being said, we always encourage and urge readers to conduct their own research in relation to any claims made in this article.
This article is intended as news or presented for informational purposes only. The topic of the article and information provided could potentially impact the value of a digital asset or cryptocurrency but is never intended to do so. Likewise, the content of the article and information provided within is not intended to, and does not, present sufficient information for the purposes of making a financial decision or investment. This article is explicitly not intended to be financial advice, is not financial advice, and should not be construed as financial advice. The content and information provided in this article were not prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making any investment decisions.
The author of this article may, at the time of its writing, hold any amount of Bitcoin, cryptocurrency, other digital currency, or financial instruments — including but not limited to any that appear in the contents of this article.

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