New Crypto Blackmail Scam Targets Porn Watchers in Latest Bitcoin Scheme

Porn viewers are the recent targets of a new scam that attempts to blackmail them with the aim of extorting a sum equivalent to $1,900. To make it even more complicated, the people behind the scam are only accepting payments made in the form of bitcoins.

How Are They Doing This?

The scammers are using malware to obtain compromising footage of the porn viewers. Mind you this is footage taken unknowingly via the victim’s webcams. The footage, many times obtained from different parts of the world is taken when the porn footage is playing on the victim’s computer.

Once taken, a scam email is then sent to the intended victim. The email begins by revealing your password to you. Often, such passwords are obtained through breaching company data files. The password is provided as proof to show that your computer has indeed been compromised. However, there is uncertainty on whether the footage actually exists or not.

Email Details

The scam email sent by the scammers normally goes on to state that a remote desktop program (RDP) has already been installed in your machine. This means that the scammers can be able to access your webcam from a remote location and record video footage of you, and your family.

With the RDP, the scammers can also be able to access your entire list of contacts. Along with this information comes a threat that the video footage will be sent to all your contacts if you do not pay the ransom that is being demanded.

It is, however, important to note that the emails are normally vague on the details pertaining to the porn sites that one may or may not have visited. Additionally, the email does say that it can prove that the footage does exist, and can send it to nine contacts as a demonstration.

The fact that the people behind this scam are only choosing to display the email as a means of embarrassing the victims means that the threat may not be real. The scam email further goes on note that one has to pay $1,900 to a certain BTC address as the price for keeping the footage a secret.

Although it is much easier to trace bitcoin as opposed to cash, the anonymous nature of its currency, and the ease in which it can be transferred into private currencies, e.g., monero or Zcash, before being laundered makes it the ideal method for use in online extortion schemes. This means that it is more preferred than PayPal or wire transfer payment methods.

Other methods used by scammers include making payments to an e-commerce marketplace or making gift card payments. According to Professor Emin Sirer from Cornell University, this practice is known as cryptoblackmail, and is something that has been on the rise thanks to the increase in the number of people using cryptocurrencies.

The professor goes on to urge victims not to attempt to negotiate or pay the scammers. This is because this could be a bluff, based on past incidences similar to this one. It is essential to note that although there are those that are using cryptocurrencies in a negative manner, its positive uses far outweigh its negative ones.

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