We have already been warned many times about scams in which victims receive emails informing them about alleged credit balances on crypto wallets. Now, this scam is also available in paper form and has surfaced in several European countries. This fraudulent scheme, revolving around Bitcoin paper wallets, targets unsuspecting individuals with the allure of easy money. To receive the easy money, victims have to pay high fees before. Stay far away!
The Paper Wall Crypto Scam Explained
The modus operandi of the scam is relatively straightforward but deceptive. Perpetrators leave transparent bags in public places like streets or park benches. These bags contain what appears to be a Bitcoin paper wallet, accompanied by a forged receipt suggesting a deposit of 0.22 Bitcoin, approximately valued over 9,000 euros.
Victims, enticed by the prospect of accessing this Bitcoin, are led to scan a QR code on the wallet, redirecting them to a fraudulent website. Here, they are asked to enter a “Private Key” and an “Authentic PIN,” which are supposedly concealed on the paper wallet and need to be scratched off. Personal details like telephone numbers and email addresses may also be requested.
The Fee Trap
To supposedly withdraw the 0.22 Bitcoin, victims are instructed to pay a fee of three percent of the amount, amounting to over 200 euros. However, this is where the scam takes effect. After paying the fee, an error message pops up, and the fee is deducted from the victim’s account. Any attempts to repeat the process only result in additional fees being paid without any return.
Legal Implications for Victims
Aside from the financial loss, victims who report this scam to the police could face legal consequences. By attempting to claim money that does not rightfully belong to them, they may be liable for “fraudulent misuse of data processing,” as per Section 148a of the German Criminal Code. Each case will require individual assessment by legal authorities.
A Form of Phishing
This scam is also seen as a unique form of phishing. Scammers aim to extract personal and financial information from victims, which could lead to more significant losses. The police strongly advise against engaging with such scams and urge the public to bring any such found Bitcoin bags to the nearest police station.
General Warning Against Scams
It is important to be vigilant against emails, text messages, or letters promising high winnings or requesting money. Common indicators of scams include spelling and grammatical errors, often resulting from the use of translation tools by internationally operating cybercriminals. Even the presence of official logos does not guarantee legitimacy, as these can be easily appropriated by scammers, as evidenced by recent incidents involving fake parking tickets in Vienna.
Conclusion
The emergence of this Bitcoin paper wallet scam in Austria serves as a reminder of the ever-evolving tactics of fraudsters. The public is cautioned to exercise caution and skepticism towards too-good-to-be-true offers and to report suspicious findings to the authorities without engaging with the scam mechanisms.
