November 16, 2023 at 10:25AM
The FBI has issued a warning about fraudsters using the conflict in Gaza to scam people into donating cryptocurrencies. These cybercriminals pretend to be fundraisers or charities and use various methods, such as emails, social media, cold calls, and crowdfunding sites, to convince victims that their money will go to Palestinian or Israeli victims. These scams have been on the rise and have already resulted in millions of dollars’ worth of crypto being sent to fake charities. The FBI advises citizens to be cautious of unsolicited emails asking for money and to donate to reputable organizations through trusted channels.
The meeting notes indicate that the FBI has issued warnings about fraudsters using the war in Gaza to solicit cryptocurrencies from sympathetic individuals. These fraudsters masquerade as fundraisers and charities, using various methods such as emails, social media, cold calls, and crowdfunding websites to convince victims that their money will go to either Palestinian or Israeli victims of the conflict. The FBI notes that these scams have become increasingly common since October, with one report tracing $1.6 million worth of crypto to accounts associated with fake charities.
The notes also mention a recent campaign described on November 16, which targeted 212 individuals at 88 organizations. According to Mike Britton, CISO at Abnormal Security, these campaigns are effective because they exploit the natural inclination of people to want to help alleviate suffering. The attackers know how to manipulate emotions and urgency to elicit a different response from individuals.
The FBI advises citizens to be suspicious of unsolicited emails asking for money, particularly if the funds requested are not easily traceable, such as cash, wire transfers, gift cards, or cryptocurrencies. The notes also highlight how the use of cryptocurrencies in these scams helps the attackers avoid traditional email security filters. The inclusion of legitimate links in the emails, such as those from Al Jazeera, NBC News, and UNICEF, adds credibility to the messages.
Victims who believe they are making modest crypto donations to a good cause may end up losing more than they intended. Scammers have been using crypto wallet drainers to empty victims’ wallets in one go, turning small donations into significant losses. It is estimated that $1.6 million was lost to Gaza scams in the first few weeks following the outbreak of conflict, and the actual amount lost is likely to be higher.
To prevent falling victim to these scams, the notes suggest using behavioral AI-enabled spam filtering or relying on simple common sense. Donating to known, reputable organizations through their official websites or established contacts is recommended instead of responding to unsolicited emails.