Key Takeaways
- A 72-year-old woman fell victim to a Bitcoin scam, losing $9,900.
- The fraud involved a fake PayPal email, remote computer access, and a fabricated $40,000 “refund.”
- The Salina Police Department (SPD) warns the public never to grant computer access or send money via Bitcoin kiosks to unknown parties.
Table of Contents
How the Elaborate Bitcoin Scam Occurred
A 72-year-old woman from Salina lost $9,900 in a detailed Bitcoin scam plot that targeted her financial funds, which began with an email.
The victim received a notice that she had ordered items from Balloonie, an amusement shop, where the email was identified as being from PayPal, and that she had received a $399.99 charge for that purchase.
The victim then called the number listed on the email for a disputed charge. After asking a few questions, the scammer continued to pretend to be from PayPal and told the victim she had been hacked, then accepted remote access to the victim’s computer.
This initial access was a necessary first step in a scam involving Bitcoin, designed to create trust and put the victim in a perceived financial emergency, ultimately scamming her out of monetary funds.
Read also: Fake Delivery Stole Crypto in Brazen $11 Million Home Invasion
The Fake Refund & “Good Faith” Payment
After steering the victim’s computer, the fraud cleverly altered her online banking screen, this time indicating that the victim had accidentally received $40,000 as a refund in her account. The scammer told the victim she would need to return the “excess” funds. After she declined to return a part of the “money” of $20,000, the fraud instructed the woman to take $9,900 as a “good faith” payment.
The attacker got her to download messenger applications to verify her while he stayed on the line, instructing her to travel to the nearest Bitcoin scam kiosk in the local Snak Attack store to deposit cash and complete the permanent theft.
Read also: Masked Gang Steal Crypto Worth £1.1M & £450K Luxury Watch in Terrifying Car Kidnap
How to Strengthen Your Defense Against Crypto Fraud
Some basic steps you can follow to protect yourself from a Bitcoin Scam are:
- Don’t provide any unsolicited individuals with remote access to your computer or phone.
- Verified companies, such as PayPal, will never request that you authenticate your transaction with a Bitcoin ATM or require you to make your payment with crypto.
- Be sure to reach out to your bank or provider through an official phone number listed on their website and not one listed in a suspicious-looking email.
Read also: U.S. Launches Scam Center Strike Force to Combat $10B Crypto Fraud Epidemic
An Expensive Lesson in Digital Awareness
Crypto fraud techniques continue to be more sophisticated and psychologically manipulative.
As stated by the Salina Police Department, “your best defense against crypto fraud is skepticism”. Bitcoin is a permanent transaction; no legitimate institution would require payment to take place via a public kiosk with a time constraint.
FAQs
What was the initial trigger for this Bitcoin scam?
The scam was initiated with a phishing email that appeared to come from PayPal. This email informed the victim of a fraudulent purchase of $399 worth of Bitcoins and gave the victim a phone number to call.
How did the perpetrator make it appear that there was $40,000 in the victim’s account?
After the victim granted remote access to their computer, the perpetrator likely used a screen-sharing program to falsely manipulate what appeared on the victim’s online banking account, creating an appearance of a large erroneous deposit.
Why are the payments from Bitcoin ATMs more dangerous than other forms of payment?
Transactions using Bitcoin kiosks are irreversible (not able to be undone) and extremely difficult to trace, which makes them the method of payment of choice for scammers. Once the funds are transferred, they are virtually unrecoverable.
For more crypto crime stories, read: The TimesCrypto Crime Report: Unmasking the New Wave of Sophisticated Crypto Scams
