There has been multiple cryptocurrency-based crime off late, with newer ones seemingly happening every day. Recently a hacker from Tel Aviv was allegedly involved in stealing around $1.75 million in cryptocurrencies from multiple people across multiple countries, including Germany, Belgium and the Netherlands.
The hacker apparently operated numerous scam websites that infected computers with malware that would steal cryptocurrencies that were stored on the devices, this amounted to almost $2 million of Bitcoin, Ethereum and Dash. He carefully covered his tracks using remote servers and ensuring that the wallet addresses were not easily detected. He was initially believed to have stolen $100 million, but after a thorough investigation, the amount was reduced to $1.75 million.
Australia also had a cryptocurrency crime occur on their turf, with an old Australian couple seeing their entire retirement savings vanish into thin air as they were caught up in a cryptocurrency scam. The Melbourne couple were travelling around the country in a camper van when they decided to invest some of their savings on a website which eventually spent $633,000 ($900,000 AUD). Their money was no where to be seen months later.
The website seemed legit, but they were not seeing any returns after a few months. Crypto scams that promise high returns are becoming increasingly widespread in Australia where fraudsters made off with $4.3 million ($6.1 million AUD) in 2018. The couple has decided to sell their 1965 Pontiac to make some money and return to work, seeing as they had no alternative. Catching crypto scammers is hard and becoming increasingly challenging with blockchains going at lengths to implement ways to protect user identities.
Even cryptocurrency exchanges are sometimes hacked losing millions of dollars worth of cryptocurrencies. Scammers generally trick customers into buying various cryptocurrencies through fake platforms, but when customers try to cash out their investments, scammers make excuses or are no longer contactable.