Professional scam organizations are targeting cryptocurrency users following the collapse of FTX, initiating millions of automated calls and text messages in an attempt to swindle information and funds. Clayton LiaBraaten, senior executive adviser at Truecaller — an app that helps identify scam callers and messages — spoke to Cointelegraph, scammers often closely follow crypto news to better prey on their victims: “Fraudsters love volatility and current events. Anytime they can try to surf the contours of something very disruptive in the marketplace they have a great deal of success.” LiaBraaten said that Truecaller also saw an increase in scam communications relating to Bitcoin and other cryptocurrencies when the market started to become volatile earlier in 2022. He added “agents” ultimately looking to steal funds launch millions of automated “robocalls“ and texts trying to latch onto people’s “fear, curiosity, and sometimes generosity.” Phone numbers can be obtained in a variety of ways, including through data breaches that have leaked millions of numbers, or vitools that scrape social media platforms for information.
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