Fraud and theft in the crypto space never seem to wane and assume ever more devious forms. According to an August 9 CTV News report, the victim in this case sent the funds to the scammers after downloading and installing a fake firewall program.
Fake Microsoft Employee Demanded Payment in Bitcoin
This latest episode of crypto fraud began when the victim received a pop-up alert that appeared to be from Microsoft. The message said the victim’s computer was in need of an update and provided a phone number to call.
Once on the call, the scammers then told the individual that the computer’s firewall was out of date and required payment to process the update.
Sadly, the victim then purchased and installed the fake software. Then, the following day, another scammer posing as a member of Microsoft’s team requested control of their machine to confirm everything was well.
Learn how to protect yourself as you trade your digital assets: 15 Most Common Crypto Scams To Look Out For
Once in charge, the scammer then claimed he had inadvertently sent money to the victim’s account. The fraudster then demanded that the payment be sent back using Bitcoin.
Police said the victim then transferred the fake Microsoft employee approximately $35,000 in Bitcoin (BTC). It is assumed that the scammer walked the victim through the entire process.
Source: Chainalysis.
Investigation Is Ongoing, Say Ontario Police
According to CTV’s sources, the investigation is ongoing. Very few details have emerged about the individual or the case in question.
This scam differs notably from others BeInCrypto has reported on recently. For one thing, it happened over a period of days, rather than weeks or months. Often with scams involving crypto, victims are manipulated over a long period of time so that when the scammer finally requests funds, it appears rational, innocent, and sincere.
These longer-form scams, known as “pig butchering,” often take on a romantic element. In this case, the scammers clearly took advantage of the victim’s lack of technical knowledge and were able to execute the scam quickly.
In another recent case, crypto scammers posed as police officers and convinced the victim that legal fees were owed.