Amid the growing adoption of cryptocurrency, the Federal Bureau of Investigation (FBI) marked a worrying trend: scammers posing as legitimate employees of cryptocurrency exchanges. While this scam may be old news, the report revealed that these scammers may have used new tactics, focusing on evolving methods with which these malicious actors attempt to hack user accounts and steal money.
How crypto scammers operate
According to the FBI’s detailed warnings, these fraudsters initiate contact via phone calls or electronic messages. After reaching a victim via phone call or text message, they cleverly disguise themselves as support staff from well-known crypto exchanges, claiming to be resolving issues within the user’s account or thwarting unauthorized attempts to gain access to these accounts.
Related reading: CFTC Wins $31 Million Fine in Crypto Fraud Case – Details
This strategy plays on the urgency and fear of potential victims, causing them to make hasty decisions that could jeopardize their safety.
The process used by these impersonators, as revealed by the FBI, is “carefully” designed to extract sensitive information from unsuspecting users. scammers They often pressure individuals to act quickly once contact is made, supposedly to secure their assets.
They ask for access codes, urge users to click on malicious links, or ask for confidential identification information. Complying with these requests can lead to unauthorized access to the victim’s crypto wallets and the subsequent theft of their assets.
The guides for protection
In response to this scamadvises the FBI to be extremely cautious. Their primary recommendation was quite simple.
In particular, they noted the following:
If you receive a phone call or message indicating that there is a problem with your account or that it has been compromised, do not respond, even if it looks official and states that you need to take immediate action.
Instead, the FBI advised disconnecting and contacting the exchange directly using verified contact information from their official website. This suggested approach helps verify the legitimacy of the claim and ensures that users don’t inadvertently hand over crucial information to a scammer.
Additionally, the FBI strongly advises users not to follow links or download files from suspicious emails or messages. Such actions could potentially lead to the installation of malware that could further compromise the user’s digital security.
For those who have had the misfortune of falling for these scams, the FBI encourages them to report the incident to their local offices or through their official online channels.
According to them, providing details of the transaction and any communication can help the authorities to track down the perpetrators and possibly protect others in the community.
Main image created with DALL-E, chart from TradingView