top of page
Writer's picturemeowdini
May 292 min read

Bitcoin Sextortion Email Scams: Here's How to Handle Them

Welcome to Hard Fork Basics, a collection of informative guides to keep you up to date with the personal finance and investment world. This guide is Bitcoin-themed, addressing a concerning yet recurring issue: the Bitcoin sextortion email scam.

Learn how to protect yourself from Bitcoin sextortion email scams. Understand the scam, recognize the signs, and follow essential steps to safeguard your privacy and security.


Illustration of a masked thief holding a bag of stolen goods, representing online scam and cybercrime.

Key Points


1. Understanding the Scam: A Bitcoin sextortion email scam claims to have recorded you via malware on a porn website. The email demands Bitcoin to prevent the release of compromising videos. It's fake and relies on fear.


2. The Extortion Tactics: The scammers often include a password you recognize, likely obtained from a data breach. They threaten to send the video to your contacts unless you pay $1,900 in Bitcoin.


3. Recognizing the Signs:

  • The email references a known password.

  • It claims malware recorded your activity.

  • It demands a Bitcoin payment to prevent exposure.


4. Steps to Take:

  • Do Not Pay: Ignore the demand for Bitcoin.

  • Change Your Password: Update the password mentioned in the email and any accounts using it.

  • Use Security Tools: Check if your data has been breached using tools like Have I Been Pwned?

  • Report the Email: Use platforms like Bitcoin Abuse to report the scam.


5. The Bigger Picture: Bitcoin Abuse has recorded nearly 50,000 reports of this scam in 2023 alone. While these scams are persistent, they are not unique and rely on widespread data breaches.


6. Expert Advice:

  • Delete the Email: Security researchers advise simply deleting the email.

  • Stay Calm: Follow instructions only from trusted sources, not from scammers.

  • Educate Yourself: Understanding the nature of these scams can help you remain calm and take appropriate action.



Bitcoin sextortion scams can be distressing, but understanding their mechanics and taking informed steps can protect you. Remember, do not engage with scammers, update compromised passwords, and report suspicious activities. Stay vigilant and safeguard your digital security.



Source: NCSC

3 views0 comments

Comments

bottom of page