2 November 2024
Recent Data Reveals Bitcoin Blackmail Cases In UK Reach To 562 Cases
The Parliament Street research states that the British Police have received five hundred and sixty-two complaints regarding Bitcoin blackmail within two years. Following such complaints, it suggests that there could be more such cases which are not recorded.
The bitcoin blackmailing and extortion cases are widely spread in the crypto industry. The cybercrimes have not targeted wealthy businessmen but also leading cryptocurrency exchanges in this crypto world.
In the previous year, India’s Central Bureau of Investigation (CBI) revealed how one of its officers blackmailed a Bitcoin businessman and demanded as many as seven hundred thousand US dollars ($700,000) as ransom.
The leading cryptocurrency exchange Binance has also been the victim of bitcoin blackmail cases where a blackmailer asked for three and a half million US dollars ($3.5 million) for illicitly obtained Know-Your-Customer data.
The research conducted by the UK disclosed that cybercrime can be much more than we thought. The information received by the Freedom of Information Act (FOI) reveals the number of Bitcoin blackmail cases registered with the UK police in 2018 and 2019.
The number of cases in North Yorkshire Police is the worst-hit amongst all. This province has the highest cases in the last two years. There were six cases recorded in 2018 but it went up to one hundred and fifteen cases in 2019 which shows an increase of 1817%.
The Bitcoin blackmail case has affected victims both emotionally and physically. Scammers use threats, harassment, and intimidation tactics to extract information from the victims.
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