SCAMS BULLETIN Jay White is volunteer attorney who provides free legal services for low income seniors in San Mateo County, California.

June 27, 2020

CRYPTOCURRENCY BLACKMAIL SCAM

Courtesy Federal Trade Commission

 An email suddenly appears in your inbox. Someone is writing to say that they have access to your cell phone or your computer. And they are about to make your sensitive videos, pictures, or compromising information public.  Pay them money (a ransom), they say, using a cryptocurrency, like Bitcoin, and they will not expose the truth.

Have you received one of these emails? If so, you are not alone. The email is a part of a cryptocurrency blackmail scam that is been popping up for a while. But last month, the FTC saw another uptick in the number of reports of this scam.

We have said it before, but it is always worth repeating. The person behind these emails is a scammer. Do not pay him. He is using threats, intimidation, and high-pressure tactics to trick you out of your money.

And while the scammer may say that he knows about an alleged affair, a video, or something else that could embarrass you if it was made public, it is all fake.  In fact, it is also a criminal extortion attempt.

It is important that right away you report this type of scam to the FBI at http://www.FBI.gov.  And remember to tell the FTC at ftc.gov/complaint.

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