In Daly, California, authorities are investigating a crypto scam in which a man lost $27,000 worth of Bitcoin. A 48-year-old man claimed that the scammer had deceived him and asked them to give them the keys to the wallet.

Scammers posing as account book representatives of crypto wallet hardware company

According to KTVU FOX 2, the unnamed victim received a text message from someone posing as a representative of the US telecommunications provider T-Mobile. The scammer told him in a text message that there was suspicious activity in his T-Mobile account.

In fact, a fake mobile service provider representative claimed that someone tried to change the password of his account. The scammer asked him to call a phone number, claiming it was the official phone line of T-Mobile.

However, the imitators only used such examples to elaborate on the scam. In fact, he received a new password, which was the password he used to store his old email address in his Bitcoin wallet. The police believe that the scammer also managed to hack the victim’s email account.

Later, the 48-year-old man received an unidentified call. The caller claimed to be a representative of Ledger, a crypto wallet hardware company. The fake Ledger employee told the victim that his wallet was hacked.

As the victim desperately wanted to recover his stolen wallet, the scammer told him that he would take care of his wallet.

However, the man fell into a trap: the imposter asked him to provide a password and an anonymous account identification number. Subsequently, the victim immediately sent the requested information.

When the California man checked his alleged stolen wallet, all his bitcoin funds ($27,000 at the time of the theft) no longer existed.

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Recent phone scams related to Bitcoin

In Michigan, the Farmington Hills Police Department warned residents of the return of the Bitcoin phone scam in a series of fraudulent acts. The scammer asked the victim to deposit it in a Bitcoin ATM to pay the “due” bills of the local company.

However, Canada is another hot spot for bitcoin-related phone scams, and its cases are on the rise during 2020. On January 22, 2021, the Ontario Police Department issued a warning to residents of the Brantford area regarding Bitcoin fraud in the area.

This modus operandi is the same as the Michigan story: fraudsters ask people to deposit money in a Bitcoin ATM.

What do you think of this encryption scam incident? Let us know in the comments section below.

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