FinTelegram has already issued several warnings against fund recovery scammers who misuse the company data of BLOCKCHAIN ACCESS UK LTD to trap victims. The scammers claim that they have discovered wallets that belong to the victims. In order to receive a payout, they would first have to send a reactivation fee of around €500. This is followed by several more requests for payments. Stay far away; protect your financial health and your privacy.
The Blockchain.com Scam Analysis
Here’s an analysis of the scam procedure and a warning about it:
- False Sense of Urgency and Authority: The email claims to be from “Blockchain Support – Team” associated with “BLOCKCHAIN ACCESS UK LTD.”, which seems like a legitimate company. The use of an established company name is intended to create a sense of legitimacy and urgency.
- Claim of Dormant Account: The scammers mention a dormant account with funds in it. This is a classic scam tactic, enticing the victim with the prospect of unclaimed money. The mention of a significant balance in BTC (Bitcoin) is designed to lure the victim with the potential of substantial wealth.
- Request for Personal Action: The email requests you to reactivate your account. This typically leads to requests for personal information, which can be used for identity theft or other fraudulent activities.
- Financial Transaction Required: A major red flag is the request for a deposit of 0.022 BTC (around £500) to reactivate the account. Scammers often ask for a payment or deposit, promising access to larger sums of money that do not actually exist.
- Pressuring Tactics: The email creates a sense of urgency and pressure, urging you to act quickly. This is a psychological tactic to prevent you from thinking critically or investigating further.
- Reference to Regulatory Bodies: The email falsely associates itself with legitimate financial regulatory authorities like the Financial Conduct Authority (FCA). This is done to add a layer of false legitimacy.
Be cautious of emails claiming you have dormant accounts with substantial funds, especially if they ask for a deposit or personal information to access these funds. Legitimate companies do not operate in this manner. Never make any payments or provide personal information in response to such unsolicited emails.
Always verify the legitimacy of such claims by contacting the company directly using contact information obtained from their official website, not the contact details provided in the email. If you suspect a scam, report it to the appropriate authorities. Remember, if an offer seems too good to be true, it probably is. Stay vigilant and protect your personal and financial information.
If you have any information about the operators of the Blockchain.com fund recovery scam, please let us know via our whistleblower system, Whistle42.