Sextortions aren’t quite common in the crypto industry. But they seem to hit quite big when cybercriminals use them to wave an attack against the innocent crypto trader. This time, they have stolen more than $300,000 in Bitcoin value through another Sextortion attack.

According to Akash Athawasya from AMB Crypto, the scam started back in 2017, only to gain the interest of many scammers years later.

Bitcoin [BTC] worth $300,000 stolen by scammers in email-based “Sextortion” racket

Cyber criminals have targeted the cryptoverse once again, absconding with over $300,000 in Bitcoin [BTC] this time. The act was committed through a series of blackmail campaigns weaponized via emails, dubbed the “Sextortion” scam.

The report further stated that the funds were then deposited in as many as 92 Bitcoin addresses. The firm further suggested that the criminals engaged in “sextortion” and extorted an amount totaling $540 in Bitcoin from each victim.

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The same report shows that the scammers targeted more than 792,000 emails, via which they promoted the heinous act.

According to Rick D from News BTC, the scammers manage to steal the money by sending out mass Sextortion emails to the target.

Scammers Net Over $300,000 in Bitcoin “Sextortion” Attack

According to research conducted by UK cyber crime investigation firm Digital Shadows and reported in The Next Web, cyber criminals have managed to generate around $332,000 in Bitcoin from an email-based blackmail scam. These funds were sent from over 3,100 unique Bitcoin addresses.

The scam was first reported in 2017. However, the popularity of the attack grew throughout 2018, with many more examples of the emails surfacing.

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The emails contain some obscene language and threats, which scared some people to agree to give out their Bitcoins.

According to Steve Kaaru from Null TX, scammers have completely changed the way they steal Cryptocurrencies from their victims.

Extortionists Made $332,000 in Bitcoin Threatening to Leak Porn History

Cybercriminals have continued to be a menace all over the world. And while their victims keep finding better ways to protect themselves, the criminals invent a new way to breach the security protocols. One trend that has become a favorite with cybercriminals is the use of cryptos for ransom. Easy to send and cash out and harder to trace, they are a godsend to the crooks. And according to one report, these criminals made $332,000 in 2018 in sextortion-based email campaigns.

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They no longer hand accounts using stolen emails and password. Instead, they send out mass threats and it seems that threatening to leak out porn history is working well for them right now.

Conclusion

As of this writing, this Bitcoins theft is one of the worst Sextortions that has ever happened in a very long time. It had close to a million emails targeted and a lot of money stolen in the process.