Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
  • Login
Buy crypto
Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
Newblock
US Federal Trade Commission Warns Consumers About Falling for Crypto ATM Scam – Regulation Bitcoin News

US Federal Trade Commission Warns Consumers About Falling for Crypto ATM Scam – Regulation Bitcoin News

January 13, 2022
in Bitcoin News
393 30
0
Share on FacebookShare on Twitter

The U.S. Federal Trade Commission (FTC) has warned consumers about scams involving cryptocurrency ATMs. “There’s a new spin on scammers asking people to pay with cryptocurrency,” the FTC described.

FTC’s Warning About Scams Involving Cryptocurrency ATMs

The U.S. Federal Trade Commission (FTC) issued a scam alert involving cryptocurrency ATMs Monday. The consumer notice, posted by Cristina Miranda from the FTC’s division of consumer and business education, states:

There’s a new spin on scammers asking people to pay with cryptocurrency.

“It involves an impersonator, a QR code, and a trip to a store (directed by a scammer on the phone) to send your money to them through a cryptocurrency ATM,” the notice details.

The scammers might call the victims pretending to be from the government, law enforcement, or a local utility company, the FTC noted. They could also pretend to be a romantic interest you met online or someone calling to inform you that you’ve won a lottery. They will stay on the phone with you until they’ve got your money.

The FTC explained that the scammer will “direct you to withdraw money from your bank, investment, or retirement accounts.”

Next, they will direct you to go to a store with a cryptocurrency ATM and buy cryptocurrency. Then they will send you a QR code with their address embedded in it.

“Once you buy the cryptocurrency, they have you scan the code so the money gets transferred to them. But then your money is gone,” the FTC stressed.

The agency emphasized:

Nobody from the government, law enforcement, utility company, or prize promoter will ever tell you to pay them with cryptocurrency.

“If someone does, it’s a scam, every time. Any unexpected tweet, text, email, call, or social media message — particularly from someone you don’t know — asking you to pay them in advance for something, including with cryptocurrency, is a scam,” the FTC warned.

Source link

You might also like

G7 Countries Crypto

G7 Countries, EU Taking Measures to Prevent Crypto Use to Evade Sanctions

March 5, 2022
Coinbase CEO Russians Crypto

Coinbase CEO Says Ordinary Russians Use Crypto as a Lifeline as the Ruble Collapses

March 5, 2022

Related News

G7 Countries Crypto

G7 Countries, EU Taking Measures to Prevent Crypto Use to Evade Sanctions

by Editorial Team
March 5, 2022
1

G7 countries and the European Union are examining ways to stop the use of cryptocurrency by Russia to evade sanctions....

Coinbase CEO Russians Crypto

Coinbase CEO Says Ordinary Russians Use Crypto as a Lifeline as the Ruble Collapses

by Editorial Team
March 5, 2022
1

The CEO of the Nasdaq-listed crypto exchange Coinbase says ordinary Russians are using cryptocurrency as a lifeline now that their...

Bitcoin Mining Difficulty Drops

Bitcoin Miners Catch a Break as Mining Difficulty Drops for the First Time in 3 Months

by Editorial Team
March 5, 2022
1

Bitcoin miners got a small break on March 3, after the network’s mining difficulty shifted downward for the first time...

Arbitrum Treasure DAO hack

Attacker Hacks Arbitrum’s Treasure DAO for Over 100 NFTs by Leveraging Marketplace Exploit

by Editorial Team
March 5, 2022
1

A non-fungible token market platform built on top of Arbitrum called Treasure DAO was hacked on March 3 at 7:33...

Next Post

Fidelity exec says Bitcoin is ‘technically oversold,’ making $40K a ‘pivotal support’

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get daily news updates to your inbox!

Popular

  • crypto price analysis

    BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX

    21678 shares
    Share 8671 Tweet 5420
  • Google Launches Blockchain Division

    5331 shares
    Share 2131 Tweet 1332
  • Microsoft Reveals Activision Purchase for $68.7 Billion as an Approach to the Metaverse

    972 shares
    Share 389 Tweet 243
  • GAIMIN Brings Blockchain and NFTs to Minecraft – Press release Bitcoin News

    958 shares
    Share 383 Tweet 240
  • Coinbase exec says major Ethereum scaling improvements coming soon

    923 shares
    Share 369 Tweet 231

Recommended

NorthmanTrader CEO bitcoin

NorthmanTrader CEO now a Bitcoin supporter

January 25, 2022
LABEL Foundation Looks to Revolutionise the Entertainment Industry in the Era of Web 3.0

LABEL Foundation Looks to Revolutionise the Entertainment Industry in the Era of Web 3.0

February 4, 2022
Newblock

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Navigate Site

  • Blockchain news
  • Crypto Analysis
  • Ranking
  • Media Partnerships
  • Privacy Center
  • Contact Us
  • Donate

Follow Us

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Cardano
    • Solana
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
  • Buy Crypto
  • Privacy Center
  • Contact Us
  • Donate

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.