How to avoid cryptocurrency scams

You may have heard of cryptocurrency scams, and the FBI’s Sacramento field office has some advise for individuals on how to protect themselves.

In the past, con artists would persuade victims to purchase gift cards or send money by wire transfer.

Scammers are now exploiting Bitcoin ATMs more often, sometimes persuading victims to part with their life assets.

Nathaniel Le works as a Supervisor Special Agent with the FBI’s Sacramento Field Office’s Cyber Investigations Division. Although the blockchain technology does keep track of money transactions, he claims that scammers are skilled at maintaining their anonymity.

“They will go to great lengths to cover their traces. They may not always proceed directly to a bank account, according to Le.

If you believe you are the victim of a scam, you should get in touch with your bank, your neighborhood police force, and your neighborhood FBI field office right away.

“We have achieved some success, but greater success would be welcome. There are technologies available designed to maintain anonymity, and they unquestionably make it more challenging to identify the person or the criminal hiding behind the keyboard,” said Le. “As you likely well know, cybercrime is a crime beyond borders.”

The FBI advises citizens to stay away from dubious connections, keep in mind that governmental organizations never demand payment over the phone, and never feel terrible about hanging up and calling back to confirm a caller’s identity.

Le advised people, to use caution when communicating online and to exercise skepticism if they haven’t met them in person. “Avoid it if it’s unexpected, uninvited, or out of the norm. They have that hook as soon as you start talking.