Paradise Valley, Arizona Residents “Pay Up Or Be Exposed!” Classic Bitcoin Blackmail Scam Resurfaces
Pay Up Or Be Exposed! – A Classic Bitcoin Scam On Paradise Valley Residents
Scammers and hackers are taking a liking towards Bitcoin. To this end, there are hundreds of scams based on Bitcoin. One of the most common is the threat of exposure. This scam has reared its ugly head yet again, and this time it is targeting residents of Paradise Valley, Arizona.
Appealing To Your Guilty Conscience
The latest scam is a classic. It involves intimidation and the threat of exposure for the most common thing you can think of – extra-marital affairs.
The scam is in form of a letter sent to Paradise Valley’s residents via snail mail. In it, the letter threatens to expose the recipients’’ “dirty secret” – the allegation that they are having extra-marital affairs. The letter even claims to have evidence of the recipients’ escapades and threatens to send it to their partners. Interestingly, the scam seems to be directed towards men as it makes reference to exposing the recipients to their wives.
Of course, there is no evidence – even for those whose escapades may fit the bill. However, the scammers are hoping to appeal to recipients’ guilty consciences and get them to pay up. The fee for silence is Bitcoin equivalent to $9,200.
Don’t Fall For It!
The only scenario whereby this scam would be effective is if you were having an affair. However, even if you are (which is bad, by the way), do not be cowed into paying up. This advice comes from Arizona’s local police department, as well as from thousands of recounts from previous victims. There is no “evidence” against you – this much is true. Chances are that these scammers do not even know you – they don’t even know your gender or your “wife”.
Instead of coughing up the bribe, the local Arizona police department is asking victims to report the letter to the police or the FBI. This is meant to help with investigations into this scam’s perpetrators. And it doesn’t matter if you are not from Paradise Valley – scams like this happen everywhere across the globe.
A Persistent Fraud
As mentioned earlier, there are hundreds of scams centered on Bitcoin. This scam has been popping up and dying off. The last time it was perpetrated it caught the attention of the Consumer and Business Education division of the Federal Trade Commission. Investigations have not been successful so far – the only findings are that the scam’s perpetrator is going by the name “GreyCircle54”.
The FTC and other concerned parties are urging the public to be aware of such scams. According to the experts, the hallmarks of these scams include extortion, the threat of exposure, and incoherence in the threat.
Scammers and hackers are more active than ever before, and Bitcoin has become their preferred currency thanks to the privacy it offers. The latest scam is a classic that has been directed towards the residents of Paradise Valley, Arizona. However, it can happen to anyone across the nation. As such, authorities are urging victims to report any blackmails to the police or the FBI.