The report has identified 3,618 Bitcoin scam URLs, which were shared on average 24 times per day during the observation period. The study goes on to claim that curated Bitcoin fraud URLs had been shared over 126 million times in total.
Among the scams identified, the first involves sending malicious URLs, the second is centred on the phishing Bitcoin private keys, while a third scheme, also known as the “Bitcoin flipping scheme”, saw investors be sent promises of irregularly high returns on their Bitcoin after they paid an initial upfront fee.
ZeroFOX advised Bitcoin users to avoid from helping anyone mine Bitcoin, noting that cloud mining contracts historically underperform the gains seen by simply holding the digital currency in a private wallet, according to CoinDesk.
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