Bad players in the cryptocurrency space have always been the industry’s burden and remain one of the biggest disincentives for institutional investors. Bitcoin scams have become so commonplace that they have even begun to affect legitimate large-scale ventures.
The Internet scan revealed that Bitcoin scammers were impersonating the website of the World Health Organization’s COVID-19 Solidarity Response Fund for their own nefarious intentions.
Instead of using a website, the Bitcoin scammers sent emails to multiple people asking them to donate to a bitcoin address. Apparently, the capital collected would be used to provide resources for everyone fighting Coronavirus on the front lines. It was obvious from the outset to those familiar with the project that the email was part of a scam.
The actual Response Fund has its own website at covid19responsefund.org where people can donate set amounts between $25 and $2500 or any amount of their choice. On the website, users also have the option to make their payments part of a monthly cycle to continue the fight against COVID-19.
The release on the website read:
“The greatest need right now is to help ensure all countries are prepared, especially those with the weakest health systems. Donations support WHO’s work to track and understand the spread of the virus; to ensure patients get the care they need and frontline workers get essential supplies and information; and to accelerate efforts to develop vaccines, tests, and treatments.
Beware of these new coronavirus email scams
The scam mail tried to first explain what the COVID-19 Solidarity Response Fund was about, including a list of objectives of the “organization”. These objectives included enabling all countries to track and detect COVID-19 by boosting laboratory capacity through training and equipment. One of the paragraphs in the mail spoke about the grim reality of what might occur and the solutions for it. It said:
“The Strategic Preparedness and Response Plan outlines a funding need of at least US$675 million for critical response efforts in countries most in need of help through April 2020. As this outbreak evolves, funding needs are likely to increase.”
There have been several cases of people skirting the law for their needs during these trying times. The Coronavirus has spread to more than 80 countries now and new cases were being reported every day. As health officials continue to ask people to practice ‘social distancing’, it was heinous that Bitcoin scammers would go the other way.
It can only be hoped that the people behind the latest scam be brought to justice quickly as their email blast may have nasty ramifications. Money that was supposed to be used for assisting the sick would be diverted to the pockets of Bitcoin scammers and that just cannot be allowed. Users in the cryptocurrency industry must band together to create awareness about this Bitcoin scam so that help can be given to those who deserve it.