Why the FBI warns against crypto donations

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Cryptocurrencies are particularly one of the last department if the access to money is denied in a normal way and you are actually financially in an emergency. A transfer by cryptocurrency can then be the saving anchor. In this article you will find out why the FBI warns against it and what scope this warning has.

Fraud via crypto

The war in Ukraine has driven many people to ask the world public for help. As a consequence of this, there are not only arms deliveries and political sanctions against Russia, but also many individual assistance that are disregarded by the reporting of the media and take place between individual private individuals.

This also includes assistance in the form of money that you want to send in need. Now the FBI US citizen warns against making crypto donations, since criminal actors take advantage of the crisis in Ukraine to illegally get money. According to the FBI, they emit themselves as Ukrainian organizations that need humanitarian aid or develop fundraising efforts and ask for donations for money and cryptocurrency. These are accepted in the form of Bitcoin, Ethereum or Dogecoin. Fraudsters use phishing websites, forum posts and email links to deceive crypto owners. In a blog post, the FBI presents possibilities of how to distinguish between an attempted fraud and a legitimate donation.

Fun facts that must not be disregarded

However, several things are interesting: The basis of the warning is the fact that many Ethereum address has been found that were not connected to the Ukrainian government. It is questionable whether said Ethereum addresses all come from criminal milieu.

On the other hand, the publication of the Federal Bureau of Investigation proves one of the most important instances throughout America that cryptocurrencies act as a means of payment and have long since legitimized themselves in this function. Again and again there are voices from politics and the economy that claim that cryptos have no real value and would not be suitable as a means of payment. Not only the people in Ukraine can refute this, but also many people in South America, who would otherwise be cut off from payment transactions due to refused access to a bank account.

Back to the FBI: If a payment is made between two private individuals in which both people know each other, there is no need to worry. It only gets bad if you swap a number in the respective wallet address, because then the money ends up either in nirvana or erroneously with someone who is actually uninvolved!