Beware! Sextortion Bitcoin Scam Rises Again

Bitcoin Scam Rises

Sextortion Bitcoin Scam alert was firstly received in the second half of 2018. Now, once again, the scammers are using fake sextortion emails to for their benefits.  The scams are performed by using old leaked password dumps and email accounts of users still using the same credentials.

According to the reports of Netsafe, hackers are pretending that they have hacked the victim’s device and recorded intimate recordings of people using fake footage from porn sites. The scammers send a threatening email to the user to pay a ransom or they will send the recording to their contacts.

How It Works

Cyberbullies send emails to random people. These emails contain information that let the user think that their system has been hacked and the hacker has recorded intimate recordings of them via a porn site. The version of this scam email title might contain the password of online accounts of the user.

Bitcoin Scam Rises Again

Image Source: cali.co.uk

 

Also Read : How Hackers Attacked PyBitmessage to Steal Bitcoin Wallet Key

Received email demands a ransom in form of bitcoin or recorded clip will be sent to the contacts of the user. Hackers do claim to have complete access of contacts. To ensure the recordings are not shared with the friends and other contacts, victims often pay the demanded ransom.

How Scammer Are Getting Your Passwords?

Cyber attackers are using new tactics and approaches to infect computers. For Faketortion Scam, scammers are getting the needed information (like email address and password) from the previous data breaches that took place with major online services.

What Scammers Really Have on You?

Sextortion bitcoin scam is using a large throne of lies. In fact, there is no guarantee that scammer does have the victims email account and password information.  Scammers build lies so the victim will pay ransom due to the fear of sharing the recording with other people.

If the hacker has gained the information of user’s password from the data leak, then they can use the information to send you such emails. In fact, they can try to access your other accounts with the same data. However, if you have changed the password after the data leak then they have nothing on you.

How to Respond to Sextortion Bitcoin Scam?

If you’ve been affected by the scam, then you don’t need to respond or send any ransom to the scammer. All you need to do is, change the credentials of all your online accounts immediately. ‘Have I Been Pwned?’ is the site that contains the data of big data leaks. You can go to the website and find out whether your email address has listed as affected by any of the leaks or not. In case, you can see your email on the website, then you need to change your passwords right away especially for the affected websites.

Furthermore, you can delete the scam email and select it as spam, so your email filter can detect the email and eliminates from your inbox.

What To Do If You’ve Received Fake Sextortion Email?

If you have received fake sextortion email, then don’t panic, just follow the steps.

Bitcoin Scam

  • Stay Calm. As scammers do not have the keys to your machine.
  • Check if the fake sextortion email in question pops up over on Haveibeenpwned.
  • Now, check if your password does the same thing. With this you have probable idea from your information was being leaked, which is a significant information.
  • You can eliminate the received fake sextortion email and don’t pay a single penny in any form.
  • In case, you have already paid the ransom money, then you can try to stop it by calling your bank. You can also ask your bank to apply chargeback if the payment is made by your credit card.

Must Read : Top Cybersecurity Facts, Figures & Statistics Of This Year

What to Do Next?

If you’re compromising on your financial assets or any kind of the data, then the first steps are to report the scam. By reporting about the scam, you can get the required help and support. In fact, experienced victims can advise what can be done to handle such situations. Some of the advices can provide tips or precautions to stay safe and one step ahead of being a victim of such scams.

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