Crypto Scams Surge Amid Israel-Hamas War: How Scammers Are Exploiting Crisis Posing As Charities

As the Israel-Hamas conflict continues, cybercriminals are exploiting the tragedy to dupe unsuspecting donors with cryptocurrency scams.

According to a BleepingComputer report, numerous posts on social platforms like X (formerly Twitter), Telegram, and Instagram have shown scammers posing as charities and soliciting donations via cryptocurrency.

These fraudulent accounts, laden with dubious crypto wallet addresses, are not affiliated with any official charities and are suspected to be scams. They manipulate emotions by posting graphic images of the war’s victims.

One such account, “Gaza Relief Aid” on X, uses the aidgaza.xyz domain. Though it claims to be an “Islamic Relief Initiative,” it is not endorsed by any recognized charitable organizations.

Apart from some “press releases” and images of war victims, the website offers no information about the people or organization behind it.

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The account operators have listed their Ethereum (CRYPTO: ETH), Bitcoin (CRYPTO: BTC), and USDT addresses for donations. However, BleepingComputer found no donations sent to these addresses yet.

Similarly, accounts claiming to support Israel and its victims are also circulating. For instance, a ‘Donate for Israel’ account on X has a linked crypto wallet with zero transactions so far, which raises further doubts about its legitimacy.

Users are urged to be cautious when encountering such claims online. Cybersecurity firm Kaspersky also reported over 500 scam emails and fraudulent websites seeking donations “for those affected on both sides.”

These scams often use emotional language and visuals to lure people in, only for them to lose their money. They accept a wide range of cryptocurrencies, including Bitcoin, Ethereum, Tether, and Litecoin.

Authorities advise verifying the legitimacy of any organization seeking donations before contributing. Legitimate charities provide transparent information about their operations and fund usage.

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Photo by Primakov on Shutterstock