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•The OCC confirmed that they did not send the Email.
•The fraud email sent to the consumers read that a fund worth $10.5 million is ready to be paid to them.
•In the last six months, almost 7,000 users were affected, and cryptocurrency worth $80 million was lost in scams.
According to CoinDesk, users recently received a fabricated email that asks them to provide the bitcoin wallet key. Apparently, by doing so, funds would be transferred under the U.S. Office of the Comptroller of the Currency (OCC).
The U.S. Agency Urges Consumers to not Respond to the Email
As soon as consumers started receiving fraudulent Emails, the U.S. agency issued a warning to them. The OCC confirmed that they did not send the Email and that they do not hold any of the funds mentioned in the Email. The U.S. agency asked the consumers not to respond to the Email. The Email has several spelling mistakes and grammatical errors and claims to have come from a senior OCC official. The agency advised the users to contact OCC’s Special Supervision Division, the U.S. Department of the Treasury, Office Inspector General, the FTC, or consumer protection groups in case they receive the Email.
Increase in the Number of Cryptocurrency Scams
The fraud email sent to the consumers read that a fund worth $10.5 million is ready to be paid. The fund would only be delivered via a bitcoin wallet address id number, claimed the mail. In addition to these, the Email notified that ‘the IMF. UNITED NATIONS and WORLD BANK’ have made a new policy that any debt or payment belonging to an individual above $1M should be paid through a bitcoin wallet address.
As per the Email, the consumers were instructed to respond to the following three email addresses – [email protected], [email protected], and [email protected]. Only two days ago, the U.S. Federal Trade Commission (FTC) announced an exponential increase in the number of cryptocurrency scams in the last few months. In the previous six months, almost 7,000 users were affected, and cryptocurrency worth $80 million was lost in scams. The FTC report revealed that younger customers between the ages of 20-49 were the most vulnerable to these attacks.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
