The FBI is warning about cybercriminals posing as law firms and attorneys and offering purported crypto recovery services to victims of investment scams . In reality, they are stealing funds and personal information from people who are being victimized a second time.
Not long ago, the agency again warned of an increase in scams involving fake services for recovering digital assets.
Cybercriminals pose as lawyers for crypto scams
The FBI says the scammers are tricking victims by saying their law firm works with government agencies like the FBI and the Consumer Financial Protection Bureau (CFPB), in an attempt to lend more credibility to their claims.
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Additionally, they refer to real financial institutions and crypto exchanges. This tactic gives a false sense of authority and ability to track down and recover lost funds.
According to the FBI, scammers typically do the following:
- They ask victims to provide personal or banking information to get their money back.
- They ask victims to state the amount they are requesting from the original scammer.
- They ask victims to pay a portion of the fees in advance.
- They direct victims to return taxes and other fees to recover their money.
Between February 2023 and February 2024, victims of these crypto scams paid over $9 million to scammers.
Recovering lost cryptocurrencies
It is worth noting that state authorities and federal intelligence agencies can, at times, track stolen cryptocurrencies, freeze them, and possibly divert them to secure wallets to give back to victims.
However, these services are provided free of charge and victims are not asked to provide personal and other useful information.
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No private sector entity, including law firms, is authorized to issue seizure orders, so anyone making such claims on social media, in online , and comments is likely a fraud.
Protection from crypto scams
Citizens can protect themselves from these scams by carefully researching each law firm before working with them. This includes searching online ,verifying contact information, and looking for reviews or comments from other clients.
It is important not to disclose personal or financial information to unknown individuals or organizations without verifying their identity and credibility.
See also: CoinStats: North Korean hackers breached 1,590 crypto wallets
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Additionally, citizens should be wary of offers that seem too good to be true, as they are often part of a scam. The promise of quick and easy money recovery is a common sign of a scam.
Using secure and trusted platforms for transactions and avoiding unofficial or unauthorized communication channels can also reduce the risk of fraud.
Finally, being informed and educated about the latest scams and methods used by fraudsters can help identify and avoid crypto scams.
Source: www.bleepingcomputer.com
