Report crypto scams and update your details

The aim of crypto scams

Some crypto scams target people who already own cryptocurrency. For people new to crypto, scammers exploit a person’s lack of knowledge and the lack of regulation around crypto, to trick them into sending money.

This money will appear to be used to purchase crypto on your behalf, but really the scammer is just keeping the money and purchasing nothing.

Remove fake software

Scammers sometimes get you to install custom crypto broking software to supposedly track your crypto holdings. You should remove this software immediately, as it is likely to also have functionality that accesses your computer in fraudulent ways.

What to do if you are scammed

If you think you’ve been interacting with a crypto scammer, and have paid them money, contact your bank and other important services and let them know. You can ask for the fraud department, which will guide you through steps to secure your finances and other information.

Install antivirus software and run scans

Even if you don’t already have antivirus software, installing it now and running a thorough scan will help remove malicious software that may have been installed by the crypto scammer’s own fake software.

Even if you didn’t install software, you should still run antivirus scans, because you may have clicked on a link the scammer gave you, which may have installed malicious software in the background.

Report the scam

You should report the scam on the Scamwatch web site at https://www.scamwatch.gov.au/report-a-scam. This will help the ACCC investigate this scam and others like it, and allow them to issue warnings. Crypto scams are new and any information you give will be very valuable in helping limit the activities of these scammers.

You can also report the scam as a cybercrime at the Australian government’s website at https://www.cyber.gov.au/acsc/report.

Change your important passwords

As well as contacting your bank and other services to have them change your codes and passwords, you should change these on your computer too.

It’s important to change the password or passcode you use to access the computer, your main email password, and the master password of your password manager if you use one.

Well done!

This is the end of the Report a crypto scam and update your details activity. You’ve learned how to act quickly to protect yourself from the scammer and where to report the scam.

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