Fake FIFA Ticket Sites Raise Crypto Scam Risk Ahead of World Cup, TRM Labs Says
Summary
- TRM Labs said cryptocurrency scams could spread around the World Cup, including fake sites posing as FIFA’s official website.
- According to the report, four cryptocurrency wallets linked to the scams were identified, some had already received crypto, and losses could rise once the World Cup begins.
- TRM Labs said criminals use cross-chain bridges to make tracing harder, and that $35 billion flowed into scam-linked wallets last year.
Forecast Trend Report by Period
TRM Labs, a global blockchain research firm, said on June 12 that cryptocurrency scams could proliferate around the World Cup in North America.
According to the report, four cryptocurrency wallet addresses tied to scams have been identified, including fake websites posing as FIFA’s official site and steering users to pay for tickets.
Some of the wallets have already received crypto, though the amount is still small.
TRM Labs said losses may increase once the World Cup gets underway.
Criminals often exploit major sporting events such as the World Cup, the firm said. They build scam infrastructure before an event begins and ramp up promotion as the opening day approaches.
The stolen funds are moved through tools including cross-chain bridges, which allow crypto assets to be transferred to another blockchain. The tactic is intended to make tracking by law enforcement more difficult.
Last year, $35 billion flowed into cryptocurrency wallets linked to scams, according to the report.
Ari Redbord, TRM Labs’ global head of policy, said criminals always try to exploit major events. All crypto-related crime is recorded on the blockchain, making it possible to disrupt activity before losses grow, he added.
Han Kyung-woo, Hankyung.com reporter case@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
