Cryptocurrency Scam Attempt: How Did the Cunning Perpetrator Operate?

Attempted Cryptocurrency Fraud – How Did the Perpetrator Operate?

On September 10, 2024, at 3:40 PM BST, an attempted cryptocurrency fraud took place involving one individual. The scammer called pretending to be from the fraud department of the Binance platform, informing about an alleged unauthorized login attempt on the account by „iPhone Mohammed” in an unspecified British city.

What Were the Perpetrator’s Actions?

The fraudster posed as an employee of the company, sending fake emails and SMS messages that appeared genuine. In communication with the victim, they provided information regarding the login attempt and account verification, claiming to collect data for the Financial Conduct Authority (FCA).

Pretending to be an employee, the scammer asked the victim about other cryptocurrency wallets, including Coinbase, and the amount of funds in the account. The moment when the victim became aware of the scam was when asked about the amount of cryptocurrency in the Coinbase account, which actually was empty. The scammer quickly lost credibility by reacting oddly to being told there were 100,000 pounds in the account.

Confrontation and Unmasking Attempt of the Perpetrator

When the fraudster was confronted, they ended the call. They then called a supposed „James McCarthy” from Coinbase, who also turned out to be false. The entire situation was documented, and the person targeted by the scam decided to report the incident on a UK police anti-fraud website.

Reaction After Realizing the Fraud Attempt

As the victim realized that the verification emails received were part of a fraud attempt, they recognized that they had overlooked the fact that these emails were informing about a password reset. This serves as a significant cautionary lesson for all cryptocurrency users on the importance of exercising caution when faced with suspicious requests for personal or financial information.

This incident once again underscores the importance of digital awareness and caution in the context of online transactions, especially when it comes to malicious attempts to obtain personal and financial data.