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Extortion: Cyber Criminals Threaten CheapAir

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Bitcoin Scams

Online travel company CheapAir has received threats of negative publicity unless it pays $10,000 in Bitcoin.

The threat is said to have been sending last week and warned that failure to send the amount would result in a campaign made to damage its reputation to customers. This is the first time the company has received such threats. The threats are said to be attributed to the fact that CheapAir accepts Bitcoin as a means of payment for travel bookings.

The cyber thugs also promised to write negative reviews on CheapAir website

In addition, they also promised to work to bring down the company’s engine optimization which ranks CheapAir high.

CheapAir’s IT team has however said that they will not give in to the demands of the thugs. According to the social media team: “We are in no way considering paying these cyber thugs. We have made this public so that if something unusual happens to our website you will know what is going on.”

The negative campaign against the company has already started on Twitter. However, the company has already started informing its followers about the attacks noting that they are following the events closely.

Increased adoption of Bitcoin

CheapAir has maintained that the threats will not stop it from accepting digital currencies. The company started accepting Bitcoin in 2013 after its customers demanded it. This year the company had a little problem after coinbase stopped their partnership in the same.

In 2017 the company reported that the level of Bitcoin payments went up by 74% with the figure hit $25 million.

According to Jeff Lee the company’s CEO: “Most of our Bitcoin shoppers are more international. Bitcoin payments are on the rise and it’s a good thing for the industry. One of the reasons why people are preferring to pay in Bitcoin is because it has fewer steps when going out.” Continued adoption of digital currencies by institutional investors can lead to the mainstream adoption of cryptocurrencies.

The cryptocurrency market is very targeted by cybercriminals. The market has already lost more than $1 billion in the hands of hackers. Criminals prefer digital currencies because they are anonymous since they are hard to trace.


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