Kaspersky Finds That Crypto Criminals Plan to Defraud Soccer Fans During the World Cup

Nov. 17, 2022
Kaspersky Finds That Crypto Criminals Plan to Defraud Soccer Fans During the World Cup

According to researcher Kaspersky, major international sporting events usually attract cybercriminals because of the wide-ranging interest and attendance. Before the World Cup, Kaspersky conducted research to determine the most common ways thieves plan to defraud soccer fans.

As with many significant international sporting events, fraudulent tickets are the primary temptation utilized to entice victims. The fact that Qatar 2022 solely sells digital tickets raises the possibility of encountering harmful sites. 

Kaspersky analysts found numerous phishing pages offering tickets for FIFA games. It should go without saying that users of these websites will lose money, banking information, and personal information. The stolen data may potentially be used for further scams or sold by con artists on the dark web.

The analytic firm said that a “distinctive feature” of the 2022 World Cup is the growth of numerous cryptocurrency schemes. The researcher emphasized how many con artists have benefited from the widespread use of NFTs.

As per data from KuCoin, football is the sport that cryptocurrency investors follow the most. Soccer is the preferred sport, according to over 25% of bitcoin investors. Nearly 41% of those cryptocurrency investors who like football are intrigued by sports NFTs.

According to the statement:

UEFA Champions League was by far the most-watched sports event in 2022. 70% of crypto investors are planning to watch the 2022 FIFA World Cup, making it the sports event most looked forward to in the coming year.

Crypto Scams And Sports

Some con games include betting on a game’s result in exchange for the chance to win significant sums of cryptos. Similar schemes feature contests for NFTs of artwork or sports memorabilia.

In order for potential winners to obtain their rewards directly, supporters are asked for their crypto wallet credentials in both situations. However, once such information is made public, con artists use it to drain supporters’ bank accounts of their money.

At the same time, the research predicted that the international athletic event would see more widespread cryptocurrency fraud, like investment fraud. In a manner akin to other rug-pull operations, con artists would persuade people to invest in a recently released currency only to steal money from the investors.

Moreover, with cryptocurrency platform Crypto.com as a sponsor, this year’s World Cup is the first to make cryptocurrencies such a significant component. An estimated five billion people have seen this, giving the platform and cryptocurrencies in general exposure.

By playing in six-on-six games, attendees at the event can also design their own NFTs. The playing surfaces at the FIFA Fan Festival record player motions and produce a special GIF using those motions. The option for players to acquire these GIFs as NFTs is then presented.

 

Ammar Raza

Associate editor
Ammar Raza is an individual with a strong interest in the world of cryptocurrency. He has written extensively on topics such as non-fungible tokens, decentralized apps, and blockchain technology. In addition, he is passionate about collaborating with innovative companies to drive meaningful change.

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