COVID-19: Japanese Crypto Scammers Impersonate Olympic Committee Members

A new series of scam emails have sprouted out of Japan. This time, the crypto scammers are impersonating the Olympic games committee members in Tokyo and asking for Bitcoin donations.

May 2, 2020 | AtoZ Markets – Without a doubt, the emergence of the novel coronavirus pandemic has disrupted the activities planned for this year, such that there have been postponements worldwide including the Olympic Games which was supposed to hold in Tokyo.

Crypto scammers impersonate Olympic Committee members

The postponement of the Olympic Games has prompted various online scams related to cryptocurrency. This includes emails from alleged members of the International Olympic Committee in which scammers solicit donations from unwary victims.

According to a report by Trend Micro, crypto scammers are soliciting for cryptocurrency donations towards Japanese organizers’ recovery from the economic effect brought about by postponing the biggest Olympic sports event worldwide.

They claimed they lost money in hotels, airline tickets, production booking arrangements, as well as infrastructure materials.
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Scammers ask to donate in bitcoins

The scammers are encouraging unsuspecting victims to avoid the cancellation of the Olympic Games in Tokyo. The email claims that it will extend a reward to those that donate into a Bitcoin wallet. The scammers claimed the wallet belongs to the International Olympic Committee. The Japanese crypto scammers have also promised a reward. They claimed that donors will be eligible to purchase a ticket for the Olympics Games at a discount of 30%.

An investigation by Trend Micro revealed that over 400 similar fraudulent emails sent from April 24 to 26th belong to IP addresses from internet providers in Japan.

Furthermore, the scams related to the Olympic Games are not new as the Chinese Olympic Committee previously received complaints about scammers impersonating as members of the so-called “World Olympic Sports Foundation.” These scammers lure in victims to invest in unique products related to the Olympic Games.

Related: FBI Warns Against the Steep Rise in COVID-19 Crypto Scams

Without a doubt, the postponement of the Olympic Games has prompted various online scams related to cryptocurrency.  Hence, we urge our Japanese readers to show adequate levels of caution in regard to these scams.

Have you fallen victim to a crypto COVID-19 scam? Share your experience with us in the comment section below.

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