Social Media Crypto Extortion Scam

Social media crypto extortion scams involve fraudsters hacking into Instagram accounts and demanding that victims record a video of themselves promoting fake cryptocurrency platforms so that the victim’s Instagram account will be returned to them. The video is then posted on the victim’s Instagram account and the victim’s followers are then at risk of losing money if they make an investment using the fake cryptocurrency platform that is being promoted by the fraudster.

Now it’s your turn!

Social Media Crypto Extortion Scam Clues
  • Be cautious of cryptocurrency platforms that are promoted on social media.
Social Media Crypto Extortion Scam Defence
  • Be comfortable saying no to offers or requests that make you uncomfortable.
  • Do not click on suspicious links or download attachments from social media accounts that you do not recognize. These links or attachments may contain viruses or malware.
  • Before you invest on a cryptocurrency platform, do your research on the investment and the organization that is offering the investment; check to see if the organization that is offering the investment is registered.
  • Make sure that all of the online accounts you use have different passwords.
  • Use multi-factor authentication when possible.
  • Check the website address when you are logging into an online account.
  • Do not share personal information or financial information on social media.

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