FTC, FBI issue alerts on bitcoin blackmail scams
A warning to members that the scam isn't new, but simply adjusts as technology evolves.
The Federal Trade Commission released an alert on bitcoin blackmail scams. In these schemes, scammers threaten victims with public revelation of their “secret” unless they send a payment in Bitcoin.
The National Cybersecurity and Communications Integration Center encouraged users and administrators to refer to the FTC Alert and a related FBI press release for more information.
The FTC alert provides recommendations for evading the blackmail scam. Cristina Miranda with the division of consumer and business education, FTC, described how the scam works. The scammers first send a letter containing something like, “I know about the secret you are keeping from your wife and everyone else. You can ignore this letter, or pay me a $8600 confidentiality fee in Bitcoin.”
The letter also explains how to use bitcoin to make the payment. “This is a criminal extortion attempt to separate people from their money,” the FTC warned.
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