The Federal Bureau of Investigation (FBI), a key player in safeguarding the cryptocurrency community, has issued a warning against fraudsters who impersonate workers of cryptocurrency exchanges. These scammers, through unsolicited calls or messages, create a false sense of urgency and fabricate account issues to trick their victims into revealing login credentials, clicking on links, or sharing personal information.
Malicious actors frequently try to scare their potential victims by emphasizing the importance of taking immediate action to safeguard their accounts. At this stage, con artists attempt to persuade people to click on links, give access codes, or divulge personal information. This would allow con artists to access the victim’s account and take their digital belongings.
The FBI is warning of scammers impersonating cryptocurrency exchange employees to steal your money! If you have been a victim of this scam report the activity associated with it to https://t.co/eGBci0wXVk. https://t.co/ic89u4BDNM pic.twitter.com/dYVLufs0Wo
— FBI Las Vegas (@FBILasVegas) August 1, 2024
The FBI did not disclose the reason behind today’s PSA, but it was probably spurred by increased complaints of scammers exploiting this method to access victims’ accounts and steal their digital assets.
The federal law enforcement agency in the United States provided information on how con artists pose as representatives of reputable cryptocurrency exchanges to approach victims via phone calls or messages.
FBI warns users not to respond to those prompts
The FBI warns cryptocurrency investors not to reply to unsolicited messages alleging account problems to protect themselves. Instead, end the conversation and call the exchange’s official number to confirm the claim. Refrain from opening links in emails from the caller, go to no websites, and never give out your account login information.
Additionally, the FBI requested that people not visit websites or click on links that the caller delivers. The agency added that it would be preferable to browse to the official exchange individually.
The FBI advises users not to give up login credentials if someone calls and to refrain from downloading files and attachments from communications.
Finally, the FBI requested that victims use their formal channels to report any activity associated with the fraud. Additionally, victims were urged to submit transaction details related to the fraud to the agency.
The federal agency also warned last month about fraudsters pretending to be law firms and providing bitcoin recovery services to people who have fallen for investment scams.
Since the beginning of the year, it has also issued warnings about the use of fictitious remote job advertisements to pilfer cryptocurrency from job searchers all over the country and about the risks associated with using unlicensed cryptocurrency transfer services, which could lead to financial loss in the event that law enforcement takes down these platforms.
According to the FBI, “Scammers design the fake job to have a confusing compensation structure that requires victims to make cryptocurrency payments to earn more money or ‘unlock’ work, and the payments go directly to the scammer.”
The FBI released guidelines for victims of cryptocurrency scams in August 2023, cautioning them not to trust anybody contacting them and claiming to be able to retrieve the funds—this might be just another fraud.
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