Bitcoin Scam: Hackers launch Ponzi BTC scheme through Russia’s Government website

Bitcoin Scam: Hackers launch Ponzi BTC scheme through Russia’s Government website

The Russian Government’s website was recently hacked. The scammers launched a fake Bitcoin (BTC) scheme, followed by re-publication despite repetitive takedowns. According to the local Russian news outlet Izvestia, an unidentified group of hackers began promotions of the Free BTC Giveaway scheme on the Ryazan administration’s website.

In the mentioned scheme, hackers had contested the giveaway of 0.025 BTC to everyone who installs the specific application on their system. Furthermore, in the re-post, the hackers added that five lucky winners will get the chance to win an additional $1,000. All messages, including the second post, have been taken down, as of now.

Russian Government launches tracing systems to de-anonymize Hackers

The Russian government has intensified its crackdown on all crypto rackets in the nation. Last month, Russia’s Federal Financial Monitoring Service in Moscow, named Rosfinmonitoring, commissioned the latest tracing system to track cryptocurrencies. This will further analyze the behaviors and movements of traders to deanonymize their identities.

According to Rosfinmonitoring, the tracing system is concentrated around clamping down the money laundering and terrorist financing rackets in Russia. The tracking system is wired to follow cryptocurrency chains and analyze behavior, which in turn enables the agency to create a database of cryptocurrency wallets associated with illegal activities and terrorist financing, according to Moscow business daily RBK. Moscow Digital School expert, Yefim Kazantsev told RBK that the tracing system proposed by Rosfinmonitoring will be focused on de-anonymizing users, to identify scammers out of blockchains.

Friction between US-Russia due to Allegedly “Russian” Hackers

Russia already holds a bad reputation globally, instead of massive cyber-attacks on the US by ransomware groups that were alleged to be “Russian”. REvil, reportedly a ‘Russian’ hacker gang, hijacked into the US institutional database demanding $70 Million in Bitcoin (BTC) to provide universal decryption codes. Over 200 firms in the United States and hundreds more globally fell prey to the recent hack. Rumour has it, these hacking groups are backed by the Russian government which has tainted US-Russia relations.

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