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BitcoinAbuse reported more than 70 thousand scams


In the world there is a need to feel safe at all times, especially in everything related to the security of our assets and money. Although in the world of Bitcoin and cryptocurrencies this is a top priority, no system is 100% foolproof. That is why after years initiatives like BitcoinAbuse have emerged, a platform that has already reported more than 70 thousand scams this year.

What is BitcoinAbuse?

According to its official website, BitcoinAbuse is a is a public database of Bitcoin addresses used by hackers and criminals.

This tool arises from the fact that criminals are moving on the Internet more than ever. Even though Bitcoin was created to move money anonymously, it doesn’t mean that all theft crimes should go unpunished.

That is precisely what BitcoinAbuse wants to avoid, and they claim that even hackers make mistakes. Currently only one mistake is needed to link the stolen Bitcoin to the real identity of a hacker.

What kind of information can you find on BitcoinAbuse?

At BitcoinAbuse you can find reports on the Bitcoin addresses used by criminals and hackers. Even by reporting the Bitcoin addresses used by these criminals, this tool creates a permanent public record of the attack.

To make matters worse, you can check the reporting history to see if the address has been linked to a cyber attack. Criminals try to launder Bitcoins to cut the connection between the attack and their illicit profits.

Finally, stolen Bitcoin can be monitored in the public book to see when hackers try to cash out. With BitcoinAbuse you can receive alerts when the coins move from the marked Bitcoin addresses.

What do your reports say exactly?

BitcoinAbuse reports have different time ranges, you can find daily, monthly and annual information.

Among all his work, it is notorious that this year BitcoinAbuse reported more than 70 thousand scams. Specifically, there have been 125 reports in the last day, 1,007 reports in the last week, and 8,499 reports in the last month.

So far in 2020, the month with the most reports on the page was April. If we look at the graph provided by this instrument, we will see that the difference between April and the rest of the months of 2020 is quite remarkable. In that month alone, there were nearly 50,000 reports of suspicious activity.

Annual reports of Bitcoin addresses compromised by online criminals. This tool allows you to see more clearly who are the ones who violate the security of users who operate with BTC. Source: BitcoinAbuse
Annual reports of BTC addresses compromised by online criminals. This tool allows you to see more clearly who are the ones who violate the security of users who operate with BTC. Source: BitcoinAbuse

Then, in the last 30 days, the day with the most reports has been May 14, 2020 when 1,000 reports were registered.

They also have a function in which you can review the latest addresses reported, and even make your own report if you consider that you have been the victim of a Bitcoin related scam.

It is really wonderful, and it is time for you to start relating to BitcoinAbuse, since it has come to strengthen the cryptocurrency community when tracking crimes that occur in this area.

Although you may think that the number of reports that BitcoinAbuse shows is higher than we would like, what you should see is that by being able to track criminals it is easier to catch them.

We know that no system is infallible, but we can tell you that you can take some precautions and precautions to avoid being scammed or victim of any of these cybercriminals.

Useful tips to avoid being scammed

The news that BitcoinAbuse reported more than 70,000 scams may alarm many. However, it is important to clarify that there are ways to avoid falling into the traps of computer criminals.

A while ago, the proactive threat detection laboratory, ESET Latin America, made a series of recommendations to protect virtual wallets and that you can apply at all times to further secure your Bitcoins.

1. Protect your identity. It is always important to be careful when sharing data about transactions in public spaces such as the internet. Whether voluntarily or not, you must be pending to avoid revealing your identity together with your Bitcoin address.

2. Always use a “custody service”. When making a purchase / sale and not being sure who is on the other side, you can always use a “custody service” or escrow service.

So the person who must make the payment sends their BTC to the custody service, while waiting to receive the item they requested. The seller knows that his money is safe in the custodian and sends the agreed item. When the buyer receives the merchandise, he notifies the custodian of the situation so that he can complete the purchase.

3. Encrypt your wallet. This is a very important point, especially when your wallet is on an online service. Tools can be used to encrypt files that contain important information. You just have to search and inform yourself about it.

4. Use double authentication. When using online storage services, it is recommended to use double authentication. Even when possible, it is recommended to use online services that support the use of hardware wallets.

5. Avoid using wallets on mobile devices. This tip is vital especially when it comes to large sums of money.

Mobile devices can be lost and / or compromised by a hacker. In these cases, the safest thing is to keep your BTC wallet on computers where access is more restricted, including the Internet.


For all intents and purposes, Bitcoin is one of the most difficult currencies for thieves to steal since the money was created. However if you apply some of these tips you could be doubly sure, and avoid being part of the BitcoinAbuse reports. Safety should always be your priority, especially when it comes to money.

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