Bitcoin scammers target men with guilty secrets
Watch out if you’re a male crypto investor who is straying from the marital nest – there’s a new type of scam afoot.
The latest warning comes from the US Federal Trade Commission (FTC) about scammers who are sending letters and emails to men threatening to expose a “secret” and asking for “confidentiality fee” paid in bitcoin to maintain their silence.
The letters are merely speculative – mass mailshots – hoping that a small percentage of those sent will hit a target with a guilty conscience, says Cristina Miranda at the FTC’s Division of Consumer and Business Education.
The letter reads: “I know about the secret you are keeping from your wife and everyone else. You can ignore this letter, or pay me a $8,600 confidentiality fee in Bitcoin.”
Almost enough to send shivers down the spine of the totally innocent.
Miranda warns: “This is a criminal extortion attempt to separate people from their money. Threats, intimidation and high-pressure tactics are classic signs of a scam.”
The FTC says that if you or anyone you know gets such a letter, report it immediately to your local police.