Scammers raked-in $24 million in bitcoin during the first six months of 2020, according to a new report from crypto monitoring service Whale Alert.

Cyber-thieves are finding it very easy to fool people of their bitcoin (BTC} because their schemes have become believably professional and aggressive, it said in a report published July 10.

For example, one particularly successful scam made over $130,000 in a day “with nothing more than a one page website, a bitcoin address and a decent amount of Youtube advertising.”

Another pocketed more than $1.5 million over six months by promoting a fake digital assets exchange with an “amateurish website riddled with spelling errors.”

Whale Alert says it collected and analyzed “hundreds of thousands” of data from reports, websites and bitcoin addresses using their new blockchain crime reporting, tracking and analysis tool, Scam Alert.

The outfit, famous for tracking large-scale bitcoin transactions, concluded that “crypto crime pays. A lot.” And that’s largely because the business is risk-free,…

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