Interpol’s efforts on a global scale have led to the arrest of 3,950 individuals, with a further 14,643 identified as potential suspects. These numbers represent more than just statistics – they signify lives protected, crimes prevented, and a healthier global economy. Talos Intelligence cited an example of a sophisticated scam in 2022, where a Discord user was presented with a large crypto giveaway, only to be a ploy to obtain their seed phrase.
Such scams have become increasingly intricate, with even mentioning the word “scam” resulting in an immediate ban from the servers. Additionally, individuals encountering issues with crypto on certain platforms are often approached by fake accounts posing as official customer service departments. Fraudsters using social engineering tactics aim to create a false sense of urgency, pressuring victims to act hastily.
The Federal Trade Commission has issued a warning to consumers, advising them to terminate contact with individuals on social media offering investment lessons, emphasizing the emotional manipulation employed by scammers. The FBI recently cautioned that victims of crypto scams may be targeted again, with fraudsters posing as lawyers promising to assist in recovering lost funds. It is estimated that victims lost at least $9.9 million in such cases in the year leading up to February.
Unfortunately, crypto scams continue to be prevalent, and a significant amount of illicit activity goes unnoticed. It is crucial to recognize that even those perpetrating scams may themselves be victims, as evidenced by UN estimates indicating that over 200,000 individuals have been deceived into applying for high-paying jobs abroad, only to have their passports confiscated.