According to Matt Tootle, the primary threat to residents in Alabama during 2023 was the use of social engineering methods to scam individuals out of their money and digital belongings.
“We’ve come across cases where scammers spend significant time developing seemingly genuine relationships with their soon-to-be victims. They create fake online platforms, displaying the victim’s asset balance and the profitability of investing in cryptocurrencies. In some instances, scammers even allow victims to verify the ‘effectiveness of the crypto project’ and withdraw a portion of their funds to persuade them to continue financing or make substantial money transfers,” explained the special agent.
The magnitude of victims, along with the rapid execution of this scheme, makes it a distinct type of crypto fraud. Matt Tootle advises any crypto investor to be cautious when promised large returns on investment within a short timeframe. Furthermore, he emphasizes the importance of reporting the crime to law enforcement authorities promptly, as delays can significantly complicate the recovery of funds:
“Many victims remain unaware of the loss of their funds until weeks or months later. It is crucial to keep a close eye on your accounts. The sooner you report the crime, the better. The FBI believes that proactive measures are the best defense.”
Previously, CEO of Tether Paolo Ardoino announced the company’s intention to establish a strong partnership with the US Secret Service and the Federal Bureau of Investigation to prevent crimes within the realm of digital finance.