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NASC and the Joint Policing Cybercrime Coordination Centre join forces to send texts and emails to potential victims of a cryptocurrency exchange impersonation scam.
More than 130 Australians will have received a warning today, 20 March, sent by the National Anti-Scam Centre (NASC) regarding a cryptocurrency exchange impersonation scam they may have fallen victim to.
Working with the Australian Federal Police-led Joint Policing Cybercrime Coordination Centre, the NASC notified the potential victims regarding the Binance cryptocurrency exchange, which the scammers were attempting to impersonate.
The potential victims were contacted via encrypted messaging services and texts (pictured) by a fake Binance representative, who warned them their crypto accounts had been compromised.
The messages were spoofed to appear in otherwise legitimate, pre-existing messaging threats and included fake verification codes and a support number to call. When called, potential victims were instructed to transfer funds to a “trust wallet” to protect their accounts – these funds were then stolen by the scammers.
The scam campaign was discovered on an end-to-end encryption platform as part of a global investigation into organised crime networks called Operation Firestorm.
“The AFP has worked closely with our partners at the NASC to ensure any victims in Australia targeted by these scammers were identified swiftly and given advice to help protect their cryptocurrency accounts,” AFP Commander Cybercrime Operations Graeme Marshall said.
“Anyone who received an SMS or email warning from the NASC must take it very seriously.
“If you have already transferred your cryptocurrency to a so-called trust wallet, report it to your bank or digital currency exchange immediately, then to police via ReportCyber quoting the reference number AFP-068.”
Australian Competition and Consumer Commission deputy chair Catriona Lowe added that verifying the authenticity and source of all communications is a vital part of staying safe.
“Impersonation scams rely on people trusting that the text, email or phone call they get is legitimate, and scammers go to significant lengths to create the appearance of legitimacy,” Lowe said.
“We urge all Australians to contact an organisation directly using official contact details from their website or app to verify any communication they receive.”
Binance chief security officer Jimmy Su said the company “remains committed to working with law enforcement and the community to combat fraud and enhance user security”.
What to do if you’re a victim
Situations such as this can be upsetting. If you, or someone you know, needs help, we encourage you to contact Lifeline on 13 11 14 or Beyond Blue on 1300 224 636. They provide 24/7 support services.
David Hollingworth has been writing about technology for over 20 years, and has worked for a range of print and online titles in his career. He is enjoying getting to grips with cyber security, especially when it lets him talk about Lego.
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