The outbreak of COVID-19 has caused panic amongst people, especially when it comes to purchasing medical needs to prevent infection. Well, it seems that when there is crisis, others see opportunity.

Blockchain security company AnChain.AI., has been conducting an investigation on scammers selling medical supplies and accepting crypto as means of payment.

Their investigation found that these scammers would post products, such as face masks and hand sanitizer, on legitimate online vendors like Amazon, but would later lure customers to a third-party messaging platform. Once the victim would engage on the third-party messaging platform, the scammer would then request for crypto as a means of payment for the products. The products, of course, were never real and their crypto already in the scammers’ wallet.

The crypto would then go on through multiple addresses, even employing mixers and tumblers, before liquidating. According to the investigation, 90% of the crypto used was tether, with 5% being bitcoin, and 2% being ether. There were also other cryptocurrencies used in the transactions.

If you’re purchasing any supplies online, always practice due diligence and never continue transactions off the trusted platforms, such as Amazon. These platforms have security systems to help stop scammers and are always consumer oriented. It’s best to stay calm and not look to unverified alternatives for your medical needs.


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