The Corona virus seems to have a positive effect in terms of reducing the value of the proceeds of fraud, although some fraudsters took advantage of the spread of the virus to invent new fraud methods, but their profits have decreased since the spread of the virus, due to the low prices of the crypto market, according to the blockchain analysis company “Chinalysis”.

in Report issued For “Chinalysis” Yesterday, April 10, researchers found that the Corona virus caused an increase in the spread of deception and fraud, but a decrease in the revenues of fraudsters.

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As for the widespread scam activities, it is done by deceiving victims into sending their wallet keys under false pretexts.

Currently, some scammers pretend to be charitable organizations to collect cryptocurrency donations and ask victims to provide their personal information.

The number of scams and extortion has also increased, with some fraudsters threatening to pass the Corona virus on to them in case they did not pay them with crypto.

But despite the rise in phishing and extortion activities, the total value of cryptocurrencies sent to scammers decreased by 61% between March 13 and 31.

This is due to a decrease in investment scams and fraudulent Ponzi schemes which are the two largest categories of cryptocurrency scams that are collectively made with an increase of about 95% of scams last year.

The report found that the 61% drop was almost entirely due to the drop in the cryptocurrency’s price.

It could be the same number of victims sending the same amount of cryptocurrency to scammers, but the payments are simply less valuable now that the price of cryptocurrencies has fallen.

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