Bitcoin Sextortion – What to do.

fake news paper

Hello, good morning from Shunyi. A fine, sunny, spring day ahead. Now watch some so and so come along and mess it up. And sure enough it happened. A series of SPAM emails suggesting we might like to make a BITCOIN donation to prevent our intimate sexual details being broadcast globally. Likely as not this has happened to you, or will. It is a scam. Read on to learn more.

This particular piece on sextortion and scams deviates widely from our usual China business focus, inspired by a few questioning emails and friends who had been infected. Since we wrote this article, the situation has changed a few times and will likely continue to do so. We have rewritten this post as a short summary to reflect those changes which we briefly outline below.

This list can never be complete. As we come up with new tech, low life come up with ways to use it to cheat and steal. As we note below, they run on 3 basic human traits; greed, fear and sex. Let’s begin with the older, but still around scams.

Opportunity to make HUGE money (greed)

These came to be known as the Nigerian scam in dubious honour of their country of origin.

Damsel in distress (sex)

Usually from a female victim being held against her will or lonely, oft rich woman seeking a husband to help her “escape” an arranged marriage or such. A lesser known variant targeted females offering marriage to rich, handsome young men..

Bitcoin Scams – (fear)

Initially dubbed “Sextortion Scams,” circa 2017 these are the latest iterations and the main focus of our post. Although they have worked through at least 3 variants to date, the basic MO is still the same. Intimidation, blackmail, extortion via Bitcoin.

Summary of Bitcoin Extortion Scams

The first thing to understand is this is not real. Despite what the email says, you have not been targeted personally and the scammer does not know you from Adam. We have been targeted hundreds of times since 2017 or there-abouts, never paid and are alive to tell the tale. So take a deep breath, relax, it is not real. Don’t panic, Don’t pay.

In brief, this is nothing more than a gamble by the scammer. She knows that if she sends out enough emails, she will hit someone for whom it seems real and a % of those will be fooled or scared into paying. Think of her as a deep sea fishing boat, trawling the ocean, catching everything of which only a small % is edible.

We talked about intimidation. This is achieved by the use of “technical terminology.” Even if you’re not computer literate, you may recognise some terms from the news re hacks, etc or from Sci Fi movies. Most of what is mentioned in the email is rubbish but he knows you do not know that. In truth, the only real fact is he has spoofed your email- which us easy enough to do.

If you are coming to this after the fact and have already paid – our commiserations. Now at least you know better next time. And there will be a next time. The chances of getting your money back are very remote – thanks to Bitcoin. Which is of course, why they use it. However, one word of advice. if you’re dead set on getting your money back and are surfing the net, be careful. Some are also scams. Don’t be fooled again.

We present a fuller article and update here: Email Bitcoin Scams the new game as well as advice and guides to reporting to both the spammers ISP’s and the Bitcoin community which also alerts others to the scam.

Beating scams is a team effort. It involves all of us doing our bit to educate and encourage would be victims to use all the reporting tools available. To learn about computers and on line safety and security. Not just in the on line sphere by sharing articles, such as this, but by also getting out into your local community. The real world and those more vulnerable, in society, such as the aged.

Thanks for reading our China news, marketing, tech and social media article – we hope it was useful, relative, informative, valuable.

No?
Not Useful?
Then perhaps you may like to chat directly and personally with Everlyne?
Whatever your question re Chinese Business, Marketing Tech or Social Media, she will know the answer, or know someone who does! A brief intro below;

Everlyne-Yu-Uengager

In 2003 Everlyne Yu co-founded WPBeijing Marketing Studio with Englishman Peter Bic, now known as Bic Brands.

She began Uengager, a company focused on customer engagement, as a SaaS MarTech company in 2017.

Hello, Nihao, I’m Everlyne

I love to talk about and help people understand the amazing ways MarTech and SaaS can work to strengthen your business engagement with Chinese consumers.
I know you have questions or want to talk about your brand or business in China so please, drop me a line opposite. If you prefer live chat, call and talk to me live, in person direct.

PRESS TO CALL ME NOW

Everlyne is also a key note speaker, lecturer and KOL on MarTech in China. She is CEO of Uengager, business development officer for Bicyu.

Everlyne hs been privileged to work with a variety of international organisations, from VW, Cushman Wakefield, Sodexo, Bristol Myers Squibb to local Chinese firms such as Midea, and OK Order.

If you’re looking for guidance, tips, advice on any aspect of starting or growing a business in China or training, coaching your existing China marketing team for excellence, be sure to check out Uengager. Home page and base for Everlyne Yu. Read her short bio – opposite left – or contact her direct – below – for a free, heart to heart chat.

Bicyu client logo bar
A selection of Bicyu clients since 2003

CONTACT EVERLYNE

Published by The Bic

Bicyu is a NZ registered, British owned MarTech business based in Beijing providing marketing, tech, education and information services to European, NZ, Australian, UK, African, and Asian firms doing business in China. We work with local ones too. We've been here doing this since 2003. We also incorporate Aim2D and Uengager in our small brand list.

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