FBI warns of fake schemes providing crypto ATM and QR code payment by CoinQuora

FBI warns of bogus schemes providing crypto ATM and QR code payment

  • The FBI has warned the public about fraudulent payment activity by crypto ATMs and QR codes.
  • The FBI issued this alert due to an increase in ongoing crypto hacking activity.

The Federal Bureau of Investigation (FBI) has issued a new warning on fraudulent schemes that operate fake crypto ATMs and QR code payment services in the crypto industry.

Citing the report, the FBI noticed how crooks continue to ask victims to use QR codes and physical crypto ATMs for payments. They do this mainly through constant online communication. Meanwhile, all of their payment methods are wrong with lots of errors.

While the FBI is warning the public to refrain from such malicious activity in the crypto industry, the authority pointed out that the bogus schemes generally involved an online identity theft scheme, romance schemes, lotteries and many other things.

Nonetheless, the FBI has claimed that these schemes and the methods of transacting using crypto ATMs and QR codes appear to be quite similar. Due to their resemblance, the scammer confuses victims by asking them for a payment which sometimes requires them to withdraw money from their investment or retirement accounts.

All the way down the line, hackers mainly give out a QR code which is connected to their crypto wallet and trick the victim into entering and buying cryptocurrency at their preferred ATM with step-by-step instructions up to that payment is made. By this badly acquired activity, the victim ends up being ripped off.

To curb the growing activities of crooks, the FBI has advised the public not to make payments to people they don’t know. Additionally, people should avoid following online instructions to scan a QR code of someone they haven’t had a one-on-one meeting with and more.

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About Matthew R. Dailey

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