Zimbabwe: Crypto is a Criminal's Best Friend, the 'Social Engineering' Effect

Bitcoin, a decentralised digital currency, which has been highly touted as an answer to the globe’s hard cash headaches, has tried and failed to enter into the globe with the momentum normally expected of digital products.

The skepticism demonstrated by some has deprived the digital trade tool of the large acceptability critical for any currency to be utilitarian.

Several criminals have also used the encryption part of Bitcoin to launch a string of attacks on unprotected internet users.

Hackers Prey on Human Weaknesses
Online blackmail issues have been on the rise, particularly with Yahoo users whose critical information was accessed by hackers during an attack in Q1 of this year.

Several users have been getting emails in which they are threatened with the sharing of their online operation with friends and family unless they pay a ransom in Bitcoin.

Chris Musodza, coordinator ICT guru and Digital Society of Zimbabwe, cautioned of how information can be quietly embezzled from online users.

“There is a trend called social engineering; they do not break into people's accounts, this is when hackers use deception into divulging confidential information which can be used for fraudulent purposes. All these are scams, there is no way one can work from home and earn $5 000 from an internet advert." Musodza said.

As per the Center for Internet Security, there are several methods to identify a hoax. For example, a lot of hoaxes are opportunistically emailed to many recipients.