US Federal Trade Commission Issues Warning on Bitcoin Blackmail Scam ‘Targeting Men’
The U.S. Federal Trade Commission warns consumers about blackmailing scams involving Bitcoin.
“Here’s how it works. Scammers have been sending letters to men, demanding payments using [B]itcoin in exchange for keeping quiet about alleged affairs. The letter also explains how to use [B]itcoin to make the payment.”
Among the “classic signs” of blackmailing, the FTC lists “threats, intimidation and high-pressure tactics” and advises consumers to “report it immediately to your local police, and the FBI.”
Cybersecurity firm Kaspersky Labs recently published a report according to which cybercriminals stole over $2.3 million via crypto scams during the second quarter of 2018.