Crypto scams have been running rampant for the past few years. However, there are some particular instances where these scams seemed to go out of control. Very recently, a crypto trading platform known as Poly Network became a prominent part of the news due to the trouble it faced. For those who don’t know, a group of hackers hacked into the platform of Poly network and stole millions of Dollars. No one saw this predicament coming, and needless to say, it caused a fair deal of commotion in the crypto community.
While the network was not able to retrieve all of its money back, it did get more than half of it, which is a fair deal all things considered. Initially, there was no hope of Poly Network getting its money back but a white-collar hacker lent his hand to the service, making sure that some of the money was easily retrieved. However, that was not the end of scams or hacks in the crypto world. This is because there are plenty of hacks that took place after that.
One of the most common ones that have recently been making the rounds concerns a government-related website. According to a variety or reliable resources, a group of unknown hackers and scammers organized a giveaway for bitcoins. At first glance, this giveaway seemed to be completely legitimate, however, upon closer observation, it was noticed that it was anything but real. It was completely fake and caught thousands upon thousands of people off guard.
There were some rumors about this incident taking place but no one was sure initially. As some time passed, however, it was confirmed from a variety of news outlets that a large number of hackers infiltrated a Russian website and used it for their own malicious purposes. What’s more, the news regarding this attack came to the forefront after it was reported that crypto-based frauds in Russia led to losses valued at around $30 million.
What’s more, these losses only accounted for the money lost this year. Needless to say, there is a fair bit of unrest in the crypto community not only in Russia but in other parts of the world as well. The primary website of a city in Russia known as Ryazan was targeted by scammers and hackers multiple times. What’s most surprising about this entire predicament was that these events took place just within a single day.
With issues like these on the horizon and taking place every so often, there is no wonder why people show hesitation when it comes to making crypto investments. Hopefully, these issues will be sorted out soon for the betterment of the crypto community.