CYBERCRIMINALS’ CURRENCY OF CHOICE

Victims get random emails with demands for Bitcoin payments

CYBERCRIME syndicates have resorted to transactions using cryptocurrency, or Bitcoin, to avoid detection by the authorities.

Bitcoin transactions do not leave a money trail that could point to their destinations, compared with cash transactions where the amount can be recovered later.

The syndicates will send random emails to individuals and blackmail them by threatening to murder, leak personal information, expose extramarital affairs or report offences related to browsing pornography websites to the authorities.

The modus operandi has put the Federal Police Commercial Crime Investigation Department on alert.

It recently reminded Netizens of such syndicates through a post on one of its Facebook pages, Cyber Crime Alert Royal Malaysia Police.

According to the post, the suspects obtained victims’ email addresses through spoofing before sending threats to them.

“Victims are told to transfer a certain amount to the Bitcoin wallet address given or risk having their secrets exposed. Fearing this, they would transfer digital money to the account.”

It was learnt that the syndicates, known as cryptoblackmail, duped victims by making them panic or feel guilty.

Victims are told to transfer a certain amount to the Bitcoin wallet address given...