When something becomes mainstream, we need to expect that numerous people will abuse it a number of shape or form. In that instance cryptocurrency, we have seen several crypto scams surface throughout the last two years. The hottest is a Bitcoin scam, announced this month by the NYPD.

Here’s what we should know.

Everything Young children and can About the Latest Bitcoin Scam

On Tuesday, April 30, the NYPD warned the masses of an ongoing Bitcoin scam, where by callers are impersonating government officials and requesting payments in Bitcoin.

According in to the report, scammers are pretending to be from the Social Security Administration (SSA); they may be using spoofing technology to overpower caller IDs of showing the numbers of the SSA. Scammers then tell victims that their Social Security number was used either to open new accounts maybe in some kind of money laundering operation. Get rid of this problem, the scammers are asking victims to email money. Usually they are requesting Bitcoin, which is why nearly everyone is calling it the newest crypto scam. Alternatives NYPD, they are speaking about it as a telephone scam, as scammers have in addition asked to be paid in bank wire transfers or prepaid gift cards.

According to the department, these scammers have stolen much more than $2 million in 2019 to this point. “Victims of your type of phone scam aren’t limited to senior citizen,” said?Chief of Community Affairs Nilda Hofmann. “If you happen to even suspect a trip to be fraudulent, don’t take a chance, just hang up the phone.”

Scams Won’t Stop

Financial and crypto scams will never go away. The upside would certainly NYPD has warned the general public of this phone and Bitcoin scam, and then we know how to protect ourselves using the information provided. And the department delivers the public’s back, with Hofmann saying the NYPD?“do not rest until we bring those given the task of these crimes accountable.”

Takeaway

As the month progresses, this latest Bitcoin scam has to be story to hold an eye on. What is your opinion of everything that’s happening? Tell us in the comments below!