As i was reading some articles about how the coronavirus impacted the global economy and the crypto's world, an intresting news cought my attention and i thought it would be intresting to share it with you: because of this epidemic, Crypto Scammers’ Revenue was dropped by 33%!!
Apparently everyone was impacted financially by the coronavirus, and cryptos scammers are not an exception. A recently made research by Chainalysis** shows that the profit made by cyptos' scammers has decreased considerably since the start of the year. Their revenue has dropped from $800,000 in the middle of january to less than $300,000 at the beginning of April.
Now you might normally think that the coronavirus might make people less susceptible to scams. Well guess what? wrong! The researchers found that the number of scam victims during the epeidemic is even higher than normal!! Actually the number of payments sent to scammers actually hit a year-to-date high at the start of April. Shocking right? Chainalysis says that they believe scammers are still receiving the same payments from roughly the same number of victims per month. The thing is the payments are just worth less now due to cryptocurrency price drops.
So in the end, this drop of profit is just temporary since its only caused by cryptos' prices dropping. Bitcoin and most of the other cryptocurrencies are already starting to recover . and when things gets back to normal again, im expecting scammers to use the coronavirus as an inspiration to create even more scams.
**source of the study: https://bit.ly/2RI5bX3