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This tricky scam campaign goes after those who lost money in crypto
Cryptocurrency has always been a risky investment. Even though Bitcoin skyrocketed and made some investors millionaires, it’s difficult to predict when or why the crypto market will slide. Not only that, but the FBI warns that hackers have been targeting crypto platforms. Tap or click here for our report.
Things were made worse recently when cryptocurrency exchange FTX went bankrupt, and its founder was arrested and charged with several counts of fraud. Now, scammers are trying to cash in on the terrible crypto news.
Keep reading to learn how thieves target victims with tricky crypto scams and a few ways to protect your money.
Here’s the backstory
Most people knew that FTX’s bankruptcy would cause many headaches for thousands of cryptocurrency traders. Not only did some lose their life savings in the blink of an eye, but there is little they can do to get it back.
And that’s where the scammers are stepping in. Through text messages, emails and phone calls (robocalls), crooks are claiming to represent cryptocurrency companies and offer their help in getting your money back.
Even if you haven’t lost money in crypto, the thieves will attempt to offer advice on how to invest wisely and make money. But don’t buy it. It’s all part of an elaborate scheme to rip you off.
According to a company that helps identify scam calls, Truecaller, crypto scams are spreading quickly. Scammers attempt to get as much personal information from targets as possible, ultimately leading to accessing a victim’s crypto wallet or bank account.
In essence, these schemes are like other phishing scams. The thieves attempt to build trust at the beginning of the call before launching their plot to steal your sensitive information. They might even prep for the call by scouring the internet for personally identifying information (PII) about you, so it seems they are legit.
In reality, they are just on a phishing expedition hoping to trick you into handing over personal and banking details.
What you can do about it
The criminals have a single goal: to steal your money. No matter what they tell you, they don’t want to help you get your crypto back or recoup your losses.
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