‘Help Ukraine’ crypto scams on the rise; here’s how to spot them

cnbctv18.com:

Cryptocurrency has quickly emerged as an unlikely yet highly useful source of funds for Ukraine. As the conflict with Russia intensifies, donations in bitcoin and other cryptocurrencies continue to pour in from across the world.It has helped the war-struck nation better cope with the situation, especially as traditional financial institutions have more or less ceased to operate.

While the world sees this as a sign of solidarity and humanity, scammers see it as an opportunity to line their pockets.Malicious entities have started hiding their scams under the veil of the ‘help Ukraine’ campaign. They are taking advantage of the goodwill of the people and scamming them of their cryptocurrency.

Some scammers are even disguising themselves as prominent NGOs or Ukrainian government officials to gain the trust of people donating money.Here’s everything you need to know about these scams and how to spot them.How to spot the scamsAn article by the tech outlet, Bleeping Computer, has warned people that scammers are using phishing websites, forum posts, and falsified emails to set a trap for people interested in donating money to Ukraine. These scams first came to light when the tech outlet noticed that these websites were using different wallet addresses from the ones provided by Ukrainian officials and NGOs.One common scam that seems to be circulating is a phishing email that appears to be coming from the official UN Office for the Coordination of Humanitarian Affairs or NPR domains.Also Read: Women warriors in crypto taking the 'Crypto Bro' culture head onAnother well-known scam during this debacle involved scammers creating a fake cryptocurrency called the ‘world peace token’ while posing as Ukrainian government officials.