Sextortionists Shift to Litecoin: The New Trend in Crypto-Scams

Understanding the Shift in Sextortion Methods

Cybercriminals have always been clever, but they’ve recently leveled up their game. A new report from cybersecurity experts at Cofense reveals that instead of sticking with the usual Bitcoin, many of these “sextortionists” are making a daring jump to Litecoin and other altcoins. Why? They want to slip under the radar of sophisticated email filters that have become more adept at catching them.

Changing Tactics for Greater Secrecy

The report indicates that these malicious actors are getting creative. Initially, they used Bitcoin addresses in their emails, but as enterprises developed detection rules to flag such messages, scammers adapted. They swapped out text for images, effectively dodging filters that scanned for specific keywords.

• Using images to hide addresses is just one tactic:
• They keep Bitcoin addresses in plain text for easy copying.
• By avoiding common patterns, they maximize their chances of getting paid.

The Compromising Leverage of Personal Data

Many sextortion threats claim that perpetrators have installed malware to spy on victims, allegedly gathering embarrassing browsing history or webcam footage. This deeply personal intrusion is weaponized against the victim, demanding ransom under the threat of exposing their secrets to family and colleagues.

Authenticity through Breached Data

Scammers often back their claims with email addresses acquired from leaked passwords, lending a veneer of credibility to their threats. It’s a common, albeit unscrupulous, tactic. This past trend of demanding Bitcoin as ransom made perfect sense as it was the most recognized crypto—until, like any good villain, they adapted.

Litecoin: A New Favorite Among Scammers

According to the Cofense report, the switch to Litecoin is a response to evolving detection technologies. As Bitcoin becomes synonymous with scams, Litecoin emerges as a less suspicious alternative.

Exploring Payment Alternatives

Cofense observes that the tactics will likely continue to evolve as scammers find new cryptocurrencies to embrace, influenced by their availability on exchanges. They noted:

“While there are thousands of cryptocurrencies, only a dozen or so are easily attainable from large exchanges.”

This makes it easier for victims to comply while scammers maintain a cloak of anonymity.

Stay Alert: Ignoring the Ransom Request

The silver lining? Cofense advises users to generally ignore these ransom and phishing emails. After all, if these threat actors truly had compromising evidence, the ‘proof’ would be more substantial.

Final Thoughts and Precautions

As scammers ramp up their tactics, it’s essential for internet users to stay vigilant. Don’t let fear guide your decisions; instead, equip yourself with knowledge. Cryptocurrencies may be the tool of choice for these unscrupulous individuals, but knowledge is truly power.