The US Federal Trade Commission has issued a warning about a new version of cryptocurrency fraud. Fraud has three main components: a simulator, a QR code and an encrypted ATM where victims are referred to send money.
Scammers pretend to be government officials, police officers or local utilities, according to the Federal Trade Commission. Scammers also use dating apps and pretend to be potential romantic partners or contact victims to announce that you have won a prize.
No matter how it starts, the scammer always ends up asking for money. If the user falls into the Spiel game, the scammer will offer him to withdraw money and go to the crypto ATM. After that, they are asked to buy cryptocurrency through an ATM. This is where the QR code is triggered. They share the QR code of the wallet address with the victim. That is why, as soon as the victim scans the code, the purchased cryptocurrencies will be transferred to the scammer’s account.
Christina Miranda from the FTC’s Consumer and Business Education Division explained:
“The most important thing to know is that no one from the government, law enforcement, energy company or award organizer will ever tell you to pay them in cryptocurrency. If anyone does, it’s a scam every time.”
Related: CertiK identifies Arbix Finance as a scam and alerts users to stay away
Meanwhile, a report on cryptocurrency crimes shows that in 2021, $ 7.7 billion worth of cryptocurrencies were stolen from victims of fraud around the world. The figure shows an increase of 81% compared to 2020.