Cheating Spouses Targeted By Bitcoin Blackmailers August 23, 2018 August 23, 2018 Kate Leaman
Bitcoin NewsAugust 23, 2018 by Kate Leaman

Cheating Spouses Targeted By Bitcoin Blackmailers

Cheating on a husband or wife is a risky proposition. However, according to the Federal Trade Commission (FTC), things got a whole lot riskier with the rise of bitcoin blackmail scams.

In a recent bulletin that the FTC released, they released information on how scammers were sending e-mail messages that claimed to know a secret of their intended target and that they would reveal it unless they were paid the specified amount in bitcoin.

This is an interesting scam because all of the e-mails don't specify the secret of their target. The scammers are just hoping their oblique hinting would trigger a target's guilty conscience and have them pay off the blackmail. The victims would not know that they were just one of the thousands targeted by the non-specific message.

It is not just via e-mail that these messages have been sent. Reports have been received that describe actual letters sent via postal mail containing similar messages. Unlike the e-mails, these messages specify that the recipient has been unfaithful. These messages are mailed in the thousands, with the scammer hoping to get at least one hit. According to current surveys, at least one in five spouses has cheated and the scammers are hoping the odds work out in their favour.

Signs of a Scam

The bulletin put out by the FTC targets these infidelity scams. The agency points out that the intimidation and high-pressure tactics are some of the hallmarks of the scam. The bulletin even has a list of the ten things that victims can do to prevent this sort of fraud and how to call on the FTC for some help.

One of the primary pieces of advice that the FTC gives out is to avoid giving out personal information on the internet to strangers. Additional advice that the FTC gives is that victims should look into searching for similar scams when they receive the message. A simple Google search should help you gain more information on these scams.

The biggest mistake that any victim can make when dealing with this sort of scam is to pay immediately. This signals the scammers that they have hooked a victim that they would be able to squeeze more money out of going forward. Additionally, scammers have been known to call potential victims with similar scams and that they should be wary of anyone asking for credit card details, especially with caller ID spoofing now available. The final piece of advice that the FTC gives out is to sign up for their free email scam alert program.

AuthorKate Leaman

Kate is market industry expert who has spent majority of her life on wall street, she has thought to have a knack at picking the right stocks to invest into. With the rise in cryptocurrencies she has is now able to use her expertise to a new market and give us insights on what we can expect in the present and the future.