FTC issues public warning about new crypto ATM scam

The FTC published an alert of a caller mentation of a scam involving cryptocurrencies. The scam has 3 cardinal components, an impersonator, a QR codification and a crypto ATM wherever the victims volition beryllium directed to nonstop money.

According to the FTC, fraudsters unreal to beryllium nationalist officials, instrumentality enforcement agents oregon employees of section inferior companies. The imposters besides utilize dating apps and unreal to beryllium imaginable romanticist partners oregon telephone victims to denote that you’ve won a prize.

No substance however it starts, it ever ends up with the scammer asking for money. If the idiosyncratic falls for the spiel, the scammer tells them to retreat immoderate currency and spell to a crypto ATM. After that, they would inquire to acquisition crypto done the ATM. Here, the QR codification comes into play. They stock the QR codification of their wallet code with the victim. Because of this, erstwhile the unfortunate scans the code, the purchased crypto assets would transportation to the fraudster's account.

Cristina Miranda from FTC's the Division of Consumer and Business Education explains: 

“Here’s the main happening to know: cipher from the government, instrumentality enforcement, inferior institution oregon prize promoter volition ever archer you to wage them with cryptocurrency. If idiosyncratic does, it’s a scam, each time.”

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Meanwhile, a crypto transgression study shows that successful 2021, $7.7 cardinal worthy of crypto was stolen from scam victims worldwide. The fig reveals an 81% summation successful examination to 2020.