Police warn of new cryptocurrency scam

A new scam is targeting people who traded cryptocurrencies and incurred losses.

Berlin police are warning of a new scam involving cryptocurrencies.

According to previous findings, the suspected perpetrators first contact people who have made losses in cryptocurrency trading by phone, according to police on Monday. Later, the communication is continued by e-mail. In doing so, the fraudsters pretend to be employees of the Central Cybercrime Contact Point of the Berlin police (ZAC), it said. The victims are then led to believe that they can make up for the losses incurred in cryptocurrency trading against payment in advance.

Emails use logos of the Federal Criminal Police and the Berlin Police

According to the information, the logos of the Federal Criminal Police Office (BKA) and Berlin police are used in the letter sent by email. The scammers described the requested payment as a loan that could be paid in a cryptocurrency or handed over in cash. The suspects are said to call themselves "recovery agents" and legitimize themselves with a photo of a Swiss identity card, according to reports.

Only a few cases reported so far

According to a police spokeswoman, the State Criminal Police Office does not have a large number of such cases to date. However, it is important for the investigators to "name the scam so that the fraudsters don't even have the chance to make big money with it." The police advise potential victims not to respond to requests for payment and to file a complaint.