FBI Issues Warning on Cryptocurrency Scam Targeting Users
The Federal Bureau of Investigation (FBI) is alerting cryptocurrency users about a rising scam known as the "exchange employee scam." This scheme involves criminals impersonating employees of cryptocurrency firms, with the aim of stealing funds from unsuspecting victims. How can users protect themselves from these scammers?
FBI Cautions Against Cryptocurrency Exchange Impersonation
On August 1, the FBI issued a warning regarding scammers targeting cryptocurrency users. These cybercriminals present themselves as representatives of digital asset exchanges.
“The FBI warns of scammers posing as cryptocurrency exchange employees to steal funds,” the agency stated in its report.
These fraudsters reach out to their victims through phone calls or messages sent via messaging apps, creating the illusion that they are contacting them as legitimate staff from a cryptocurrency exchange.
The Scam Process
What happens next is a well-orchestrated attempt to exploit victims’ trust. The scammers claim that there are issues with the victim's account and try to convince them that a hacking attempt has occurred. They then instruct the victim to provide their login credentials, click on a link they send, or share additional identifying information. By doing so, they gain unauthorized access to the victim's account and “clean it out” of any funds, assuming there are cryptocurrencies present.
“The scammer claims that the victim needs to secure their account by providing login details, clicking on a link, and/or sharing identifying information,” the report further explains.
How to Avoid Falling Victim to Hackers
So, how can users avoid being robbed in such a blatant manner? The FBI advises cryptocurrency investors to refrain from responding to these types of messages, whether they are vocal or written. Instead, they should disconnect the call and verify if they are indeed speaking with a legitimate employee of the exchange by calling the company’s official number or reaching out to their customer support through verified channels, such as social media.
Users should also avoid clicking on links received from untrusted sources.
It's also crucial for users not to keep significant funds on exchanges. Implementing two-factor authentication (2FA) is another effective measure that complicates attacks from hackers, as they would need access to both the victim's account and their phone or email.
In summary, by staying vigilant and following these guidelines, cryptocurrency users can help protect themselves from falling prey to these increasingly sophisticated scams.
