Breaking News

A Website Selling Fake COVID-19 Cure for Bitcoin is Shut Down

#OhNoCrypto

Mar 29, 2020 at 11:31 //

News
There is no cure for coronavirus so far, don’t believe fakes

Recently, a Russian based website claiming to be selling a vaccine for the Coronavirus was shut down. The website which was marketed on Twitter claimed they sell doses that can be used by at least three people to prevent catching the Coronavirus.

To appear more legitimate, the site claimed its researchers were affiliated to the Australian National University in Canberra, as Bitcoinist news outlet reported.

At the same time, the world is racing to develop the cure and vaccine for the coronavirus but there is no success yet. Unscrupulous scammers are using dubious schemes over the internet trying to extort money from unsuspected people claiming to be selling the vaccine for COVID-19. The general public is warned against falling victim to any of such dubious scammers and stay protected from the virus by following released local guidelines.

For instance, the UK Financial Conduct Authority (FCA) has warned the country’s citizens against investing in any cryptocurrency projects related to coronavirus as they would most probably turn out to be scams. Later on, Manchester, Pembrokeshire, and Norfolk issued scam alerts, as coinidol.com, a world blockchain news outlet, has reported. In the new scheme, fraudsters offer citizens a list of infected people in their neighbourhood in exchange for bitcoin donations.

Many legitimate projects still exist out there

There are lots of legitimate projects working 24 hours a day to reduce the stress levied on societies by the Coronavirus pandemic. A good percentage of these projects are using blockchain technology and cryptocurrencies to develop appropriate responses to the raging coronavirus pandemic.

Among the blockchain initiatives is Stanford University’s folding@home project which is looking for higher computing powers to fasten research on COVID-19 Vaccine. The World Health Organization has partnered with big tech giants like Microsoft and IBM to develop a blockchain-based platform for improved analytics of data related to coronavirus. This would allow for deeper and more accurate research, which, in its turn, might raise effectiveness in combating the disease.

The Dutch Red Cross Society is also using Bitcoin and other cryptocurrency donations to subdue the Economic effects of the COVID-19 pandemic. Most of the donated funds, however, were meant to boost research efforts into finding a vaccine and a cure for the Virus.



OhNoCryptocurrency via https://www.ohnocrypto.com/ @coinidol.com By Coin Idol, @Khareem Sudlow