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Scammers impersonate the US State Department to target victims of the FTX collapse
Victims of the FTX Collapse: The Oregon Division of Financial Regulation (DFR) has advised digital currency investors to exercise caution in light of the recent increase in fraud in the sector. The warning was posted on the financial regulator’s website, along with examples of con artists’ methods. One such step is re-victimizing those who used the now-defunct FTX platform. The pretext is to recoup lost funds from consumers.
Scammers Target The Victims Of The FTX Collapse By Imitating The Us State Department
Scammers entice victims by creating a website that appears to be managed by the United States Department of State and promising to recover customers’ assets. In reality, scammers steal personal information in order to gain access to other digital wallets or demand payment in order to expedite the recovery of the victim’s belongings.
This website was not created by the United States Department of State. “Please be aware that if someone contacts you asking for your usernames and passwords, it is more than likely a fraud,” said the DFR.
Scammers in the digital currency industry can take advantage of bogus investment platforms that promise quick profits. Fraudsters entice victims to deposit digital currency such as Bitcoin by promising large profits, but the scammers control all trade data on the sites.
Users’ balances will rise dramatically, but they will not be able to cash them out, according to the DFR. Instead, they will be harassed with demands to deposit additional funds for taxes or withdrawal fees until the victim realises it was a scam.
In recent weeks, the prevalence of scams involving phony digital wallets, pump-and-dump schemes, and MLM platforms has skyrocketed. TK Keen, the director of the DFR, has warned investors to be cautious when dealing with digital assets because the “market is fluid and full of individuals attempting to take advantage of you.”
Scammers targeting digital assets rose in number and sophistication in 2022, presenting new challenges for governments throughout the world. The state of California’s Department of Financial Protection and Innovation (DFPI) has issued 17 public warnings against fraudulent digital asset organizations.
Scammers target FTX collapse victims by mimicking US State Departmenthttps://t.co/O0qhuuONAC
— CoinGeek (@RealCoinGeek) January 2, 2023
The FBI also issued a Christmas fraud alert, warning that pig slaughtering schemes were being used to target the elderly. According to the warning, the scammers pretend to have a romantic interest in the victims before attempting to convince them to invest in bogus investment websites.
Meanwhile, in 2022, France closed down two digital trading platforms and South Korea’s investigators worked around the clock to prosecute six high-ranking officials of the fraudulent V Global exchange.
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