The FBI has issued a warning about fraudsters posing as fake lawyers from fictitious law firms on social media, targeting cryptocurrency scam victims with promises to recover stolen funds [2].
Description
These imposters may request personal information, upfront fees [1] [2] [3] [4] [6], back taxes [1] [4] [5], or reference actual banks or money exchanges [4]. Victims have collectively lost nearly $10 million to these scams in the past year. Scammers contact victims through messaging platforms, pretending to be government officials or attorneys. Law enforcement does not charge fees for investigating crimes [4], so caution is advised with cryptocurrency recovery service advertisements [4]. Digital crimes involving cryptocurrency have resulted in over $3.8 billion in losses [5], with the use of generative AI tools by scammers expected to contribute to the rise in fraudulent activities. To combat this issue, there have been calls for increased funding for law enforcement, regulation of GenAI vendors [5], and the implementation of security training and awareness campaigns to protect potential victims. Victims are urged to contact their local FBI field office to verify the identity of anyone claiming to be with the agency [4].
Conclusion
These scams have had a significant financial impact on victims, with losses totaling nearly $10 million in the past year. To address this issue, increased funding for law enforcement, regulation of GenAI vendors [5], and security training and awareness campaigns are being recommended. It is crucial for individuals to remain vigilant and cautious when dealing with cryptocurrency recovery services and to verify the identity of anyone claiming to be from law enforcement agencies.
References
[1] https://kykn.com/2024/06/25/fbi-warns-of-fictitious-law-firms-targeting-cryptocurrency-scam-victims-offering-to-recover-funds/
[2] https://igaming.org/crypto/fbi-issues-warning-on-fake-lawyer-scams-targeting-crypto-victims/
[3] https://www.bitdefender.com/blog/hotforsecurity/crypto-recovery-scam-10-million-victims-wallets-drained/
[4] https://www.columbian.com/news/2024/jun/26/law-enforcement-agencies-warn-of-wave-of-phone-scams-targeting-clark-county-residents/
[5] https://www.infosecurity-magazine.com/news/fake-law-firms-scam-victims-crypto/
[6] https://www.theepochtimes.com/us/fbi-issues-warning-against-fake-law-firms-scamming-crypto-fraud-victims-5675751
