The FBI warns that cybercriminals are pretending to be law firms and lawyers who offer to help victims of investment scams recover their cryptocurrency.
These scammers lie about working with government agencies like the FBI and the Consumer Financial Protection Bureau, and they mention real banks and financial companies to seem trustworthy. Their aim is to trick victims into thinking they can safely get their money back.
The fraudsters employ various schemes, including requesting victims’ personal or banking information under the guise of facilitating fund recovery, asking victims to specify the amount they seek from the initial fraudster, and demanding upfront fees with promises of recovering funds later.
Victims are also misled into paying supposed back taxes and other fees to facilitate the recovery process. These deceptive practices exploit victims’ desperation to recover lost investments, leading to significant financial losses.
FBI Warns About Scammers Posing as Lawyers to Steal Cryptocurrency from Investment Victims
According to recent statistics from the FBI’s Internet Crime Complaint Center (IC3), victims of secondary cryptocurrency recovery scams collectively paid over $9 million to fraudsters between February 2023 and February 2024. This underscores the growing threat posed by these fraudulent operations targeting vulnerable individuals seeking assistance in recovering their digital assets.
It is important for individuals to be vigilant and skeptical of claims made by entities purporting to offer cryptocurrency recovery services. Legitimate recovery efforts by state and federal authorities do not involve soliciting personal information or charging fees upfront.
Victims are advised to conduct thorough research on any service provider claiming to recover lost cryptocurrencies before sharing personal information or making payments.
To combat these scams, the FBI encourages victims and individuals who suspect fraudulent activity to report incidents promptly through the IC3 portal.
Providing detailed information about the scammer and financial transactions can aid authorities in investigating and potentially preventing further financial harm to others. Awareness and proactive reporting are crucial in mitigating the impact of these sophisticated scams on unsuspecting cryptocurrency investors.
