In a statement released on Tuesday by the Portland Police Department, it has been reported that scammers are actively disseminating messages designed to induce a sense of urgency and fear. These deceptive messages commonly appear in the form of pop-up windows and text messages.
The content of these messages typically revolves around claims that major online retailers like Amazon, PayPal, or others are facing billing issues that require immediate resolution by following the instructions provided by scammers. Alternatively, the messages may assert that the recipient’s bank account is vulnerable and in need of immediate action.
Regardless of the pretext, these scammers exploit the fear of potential legal or financial repercussions to coerce their victims into depositing funds into a Bitcoin ATM.
An unnamed police spokesperson elaborated:
“Remember, these scammers can be convincing, and use fear, urgency, and scare tactics to get you to comply. If you receive this warning via a pop-up banner on your computer, in an email, or text message, do not call the number provided on the screen.”
As emphasized in the police advisory, the ultimate destination for these ill-gotten funds is the digital wallet of the malicious actors, ensuring that once the money is deposited, it becomes irretrievable.
Rise in Cryptocurrency-Related Fraud
While scams that employ fear and panic to manipulate victims are certainly pernicious, those taking a more “friendly” or “approachable” approach are equally predatory. These schemes shamelessly capitalize on psychological factors, particularly the trust and comfort that many individuals associate with public figures endorsing products or services.
Some of these scams leverage artificial intelligence (AI) to fabricate counterfeit videos featuring the likeness of celebrities. These videos have surfaced on platforms like TikTok, purporting to showcase endorsements of investment opportunities by figures like Elon Musk or other reputable public figures.
It’s worth noting that in October 2022, Elon Musk acquired Twitter for $44 billion and pledged to overhaul the platform, addressing issues such as spam bots. Unfortunately, these problems persist, with some fake accounts employing celebrity images to entice investments.
Certain fraudulent accounts attempt to bolster their credibility by posing as respected journalists or commentators whose professional duty is to caution against the perils of scam accounts, rather than falling victim to them.