The FBI has issued a warning to the public to be cautious of pay-to-earn cryptocurrency games on mobile devices, as criminals are creating fake apps to steal money from unsuspecting individuals. The Bureau has stated that these scams typically begin with the perpetrators attempting to establish online relationships with their targets.
Once a rapport has been established, the fraudster will introduce a gaming app that promises cryptocurrency rewards in exchange for performing certain activities, such as cultivating virtual crops on a farm.
The scammers will then encourage their victims to create a cryptocurrency wallet and make regular deposits in order to receive more rewards in the game. However, the FBI warns that when the distribution of rewards stops, the criminals will exploit malicious programs associated with the app to drain their victims’ digital wallets.
In some cases, the fraudsters may even tell their victims that they can recover their lost funds by paying a false fee. It is crucial for people to remain vigilant and verify the legitimacy of mobile apps before downloading and using them to protect themselves from these types of scams.
In addition to the FBI, other law enforcement agencies around the world have also taken action against these cryptocurrency mobile game scams. In 2021, the United Kingdom’s National Fraud Intelligence Bureau (NFIB) warned the public about a similar scam that promised cryptocurrency rewards in exchange for performing tasks within a mobile game.
To protect themselves from these scams, individuals should only download mobile apps from reputable app stores and verify the legitimacy of any app before using it. It is also important to be wary of any apps that require users to make cryptocurrency payments, as this is often a sign of a fraudulent app. By remaining vigilant and taking necessary precautions, individuals can protect themselves from falling victim to these types of scams.
The FBI requests victims report these types of fraudulent or suspicious activities to the FBI Internet Crime Complaint Center at www.ic3.gov.
Amidst ongoing political and economic instability, Iraq is witnessing growing interest in harnessing the… Read More
As we enter 2023, blockchain continues to be hailed as system of decentralized trust,… Read More
In recent years, both forex (foreign exchange) and cryptocurrency trading have gained immense popularity among… Read More
In an enlightening revelation, Christy Goldsmith Romero, commissioner at the Commodity Futures Trading Commission… Read More
As the rise of quantum computing looms on the horizon, the security of cryptocurrencies faces… Read More
In significant development for Hong Kong's ambitions to become a leading virtual-assets hub, the… Read More