Be aware of other blackmail scams

Have you ever wondered what the most common crypto scams are and how to avoid them? Our “Hello Crypto Safety” series analyses trends and shares best practices to stay safe from these attacks.

This episode focuses on “other types of blackmail scams,” which seem challenging as the victim does not know how real the threat is.

What are other blackmail scams, and how do they occur, and how do you recognize them?

During a blackmail scam, the scammer demands payment from their victim to stop the scammer from revealing damaging information they claim to have about the victim or to unblock something their victim needs. A blackmail scam occurs when the scammer threatens to target the victim (or their systems) if they do not transfer crypto funds.

Other blackmail scams can occur when the attacker contacts the victim by email or on a social media platform pretending to have discovered a weakness about the person or their systems. They threaten to exploit it and target the victim if they do not pay an amount in crypto to a given wallet.

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