FBI uncovers a new cryptocurrency fraud scheme that cost victims $ 9 million

The US Federal Bureau of Investigation warns of a new type of cryptocurrency fraud aimed at people who have previously fallen victim to digital asset scams. The agency said that criminals pose as lawyers specializing in the recovery of stolen funds and search for victims on social media, claiming to be working with the FBI or the Consumer Financial Protection Bureau.

Criminals target vulnerable populations or those who have already fallen for cryptocurrency scams, as these people have already «shown their vulnerability to social engineering and neuro-linguistic programming.» In some cases, the criminals who repeatedly deceive the victim may be the organizers of the initial scam.

According to the FBI, from February 2023 to early 2024, victims of repeat fraud lost about $ 9 million. In rare cases, law enforcement agencies still manage to trace and recover cryptocurrency to compensate for losses. However, filing a lawsuit requires real lawyers, who usually do not look for clients on social media.

Most people who have been victims of cryptocurrency fraud do not know the real identities of the fraudsters and have no real recourse against them. This makes them particularly vulnerable to repeated attacks by fraudsters. The FBI urges crypto asset owners to improve their self-education on cryptocurrencies and blockchain technology to protect themselves from unfortunate incidents in the future.