I got something similar almost a year ago but they didn't manage to get ahold of my password. They wanted a ridiculously low amount of money (like around the $100 range) and made the same threat about social media and porn. It also said something that they would know when I read the email and I had 24 hours until then to send the money so some bitcoin address.

I ignored it and nothing happened, but I thought it was kind of funny actually. Scammers are getting more and more clever because they realize that if they make a threat that feels like you've been backed into a corner and don't demand an excessive amount of money, they can actually get more people to fall for their tricks.