US Federal Trade Commission Issues Warning on Bitcoin Blackmail Scam ‘Targeting Men’

The Division of Purchaser and Small business Instruction of the U.S. Federal Trade Commission (FTC) published an posting August 21 titled “How to avoid a Bitcoin blackmail scam.”

The FTC’s letter focuses on consumer defense, in what it phone calls a “new scam targeting adult males,” warning about blackmailing frauds demanding payments in Bitcoin (BTC). The brief letter states:

“Here’s how it performs. Scammers have been sending letters to adult males, demanding payments working with [B]itcoin in trade for retaining peaceful about alleged affairs. The letter also explains how to use [B]itcoin to make the payment.”

Between the “classic signs” of blackmailing, the FTC lists “threats, intimidation and large-strain tactics” and advises shoppers to “report it immediately to your community law enforcement, and the FBI.”

Cybersecurity business Kaspersky Labs just lately published a report in accordance to which cybercriminals stole more than $2.3 million by means of crypto frauds in the course of the next quarter of 2018.

Before this thirty day period the British isles law enforcement published a report stating that crypto-linked frauds have led to $2.55 million in investor losses this summer time alone

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