‘Money Mule’ Scams Adopting Bitcoin ATMs For Transferring Hacked Funds
Hackers who raid corporate bank accounts often launder stolen funds by depositing them in accounts owned by “money mules,” people recruited through work-at-home job scams. The mules are usually instructed to wire the stolen funds to the scammers. Increasingly, however, the mules are being directed to send the funds using bitcoin ATMs, according to KrebsOnSecurity. The story of a Canadian reader who contacted KrebsOnSecurity demonstrates how such scams work. One ‘Mule’s’ Experience. The reader was offered $870 per week and 5% commission for every transaction she handled for a company called....
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Once the money mules purchase Bitcoin through these ATMs, they then forward the money to a specific address via a QR code. For now, it remains unsure why criminals are avoiding more common solutions such as Western Union and MoneyGram, though. Bitcoin ATMs have been relatively safe from any gang-related activity so far. That situation has come to change, as fraudsters are using these devices to launder money, according to KrebsOnSecurity. By hacking bank accounts, they deposit funds into money mules’ accounts. These mules then withdraw funds in cash and remit the stolen funds through one....
Bitcash.cz - a Czech exchange - claims to have been hacked, with the aftermath being 4,000 user wallets being emptied and funds stolen. teh alleged hacking took place on Monday, on November 11th, though it's unknown just how much of user money was stolen by the criminals involves. The website's Facebook page has the following statement: Unfortunately, as we have already announced on our website Bitcash.cz, our server was attacked and compromised - including the wallets. We are trying to resolve the situation, but we want to warn our users about fraudulent emails and scams [claiming to be....
The Federal Bureau of Investigation (FBI) is putting up warning signs on bitcoin ATMs in Cuyahoga County of the U.S. state of Ohio to warn residents not to fall for scams asking victims to send money to scammers via bitcoin ATMs. FBI Putting Warning Signs on Bitcoin ATMs The Cuyahoga County Scam Squad in Cleveland and the FBI are collaborating to alert the public about scams involving bitcoin, News 5 Cleveland reported this week. Old scams ranging from grandparent’s scam, explained Sheryl Harris, Director of the Cuyahoga County Department of Consumer Affairs. FBI Special Agent Vicki....
The U.S. Federal Trade Commission (FTC) has warned consumers about scams involving cryptocurrency ATMs. “There’s a new spin on scammers asking people to pay with cryptocurrency,” the FTC described.
FTC’s Warning About Scams Involving Cryptocurrency ATMs
The U.S. Federal Trade Commission (FTC) issued a scam alert involving cryptocurrency ATMs Monday. The consumer notice, posted by Cristina Miranda from the FTC’s division of consumer and business education, states:
There’s a new spin on scammers asking people to pay with....
The FBI says alongside regular methods of payment such as wire transfers and prepaid cards, crypto ATMs are also becoming a prominent tool for crypto investment scammers. The Federal Bureau of Investigation (FBI) Miami Field Office has warned that crypto ATMs are emerging as a popular method that scammers use to receive funds from defrauded victims. The information was revealed as part of an Oct. 3 public warning about “pig butchering scams” where scammers pose as long-lost friends or potential romantic partners to swipe money from victims. The scammers “fatten up” their victims by....