Alert: Scammers Posing as Crypto Exchange Support Staff

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Along with an increasing number of cryptocurrency exchanges is an increasing number of scammers waiting for prey. The Federal Bureau of Investigation (FBI) warned consumers of a trap laid by scammers who posed as a Cryptocurrency Exchange Support Staff.

Scammers Posing as Support Staff

On March 28, 2018, the FBI received roughly 11,000 complaints about scammers posing as technical support in cryptocurrency exchanges. The complainants claimed more than $11 million losses to the fraud support staff in 2017 alone.

The Internet Crime Complaint Center (IC3), a branch in FBI, stated that cryptocurrency owners now targets of scammers. The branch also shared that victims lost more than thousands of dollars due to this cryptocurrency scam.

Support Staff Fraud

In IC3’s notice, the modus operates like this: A fake support number is posted online. A victim finds it and contacts the number. The fake support staff will then direct the victim to send his cryptocurrencies to a “temporary wallet” while the issues are being fixed. More or less, the funds aren’t returned and communication is cut.

“The virtual currency is never returned to the victim, and the criminal ceases all communication.” – Internet Crime Complaint Center


Fraud is not new on the internet. Since cryptocurrency exchanges and cryptocurrencies are becoming popular, consumers not understanding its risks fall into prey. Aside from posting fake contact information online, some fraudsters also try to lure them in using pop up messages, phone calls, and search engine advertising. Twitter is also a haven for scammers, that it is now trying to flush them out.

Source: CoinDesk, IC3

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