It is evident that the coronavirus crisis is shaking things up on a global basis. Recent findings by Chainalysis further confirm how scammers aren’t paying enough attention to ensure their nefarious projects keep generating revenue.
Many different factors influence the success of a cryptocurrency scam.
More often than not, users are drawn in due to the promise of high financial returns.
That is anything but a sustainable model, forcing these scams to fold relatively quickly.
Chainalysis research confirms that scammers aren’t paying attention to what is happening around them.
During the coronavirus crisis, the Bitcoin value has undergone some big changes, albeit not in a positive manner.
More specifically, the investment and Ponzi scams are bringing in far less revenue.
In the phishing emails – or through fake investment websites- scammers still demand the same amounts of Bitcoin as they did when BTC was valued at $10,000 and more.
By maintaining this approach, the scams currently generate at least 30% less revenue.
In theory, that is not a bad thing, but it goes to show that little effort is put into these nefarious investment schemes.
Unfortunately, this does not mean scammers will stop making money in the near future either.
It will be interesting to see how the coronavirus will affect that particular segment in the coming weeks and months.
Public companies quietly stepped up their Bitcoin accumulation in March 2026, adding a significant amount…
Deepcoin is stepping into a new direction with its latest move, announcing a partnership with…
Sui Network’s native token, $SUI, is making a move beyond its home turf. Through a…
Core Foundation has just announced a new partnership with Z Protocol, and it’s already getting…
Binance Wallet is quietly stepping into one of crypto’s fastest-growing sectors, prediction markets. According to…
As concerns around quantum computing and crypto security continue to build, Changpeng Zhao is stepping…