Research from Avast Threat Labs has revealed a growth in crypto-based scams in regions where cryptocurrency is growing in popularity, in the first half of 2021

Users are being caught out by sites masquerading as legitimate custodial wallets.

Avast’s threat labs researchers have intercepted and protected users against a rise in phishing sites focused on cryptocurrency scams since the start of the year, with the majority posing as legitimate custodial wallets.

The US, Brazil and Nigeria were found to be the biggest targets for these crypto scams, with notable levels of scams also in the UK, France, Russia and India, following the monitoring of a selection of 37 samples.

A graphic displaying visit frequency to crypto-related sites between January and June 2021, by region, based on a selection of 37 samples.

The frequency of users visiting crypto-related phishing sites around the world, as detected between January-June 2021. Source: Avast

“The crypto market is surging right now. Bitcoin has been given a…

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