Digital Asset Technology Alliance (DATA) Guide

San Francisco Cyber Fraud Task Force Logo

The U.S. Secret Service continues to observe a significant increase in cryptocurrency and digital asset investment scams. These scams often target victims who use social media, online dating, or professional networking platforms.

Prevent 

  • Avoid unreasonably high returns on investment - is it too good to be true?
  • Avoid cryptocurrency investment proposals with complex verbiage, such as pools, futures, mining, liquidity.
  • Avoid sharing your personal information with unverified individuals. You can validate a broker by going to BrokerCheck by FINRA.
  • Only download apps directly from legitimate App Stores (i.e., Apple App Store, Google Play Store).
  • Beware of clicking on links, they can be malicious.
  • Be wary of apps with excessive application permissions (i.e., administrator privileges).
  • Beware of linking apps with external investment platforms, even legitimate apps may be linked to platforms that are not vetted.
  • Never share your seed phrase - the string of words that can be used to access a cryptocurrency wallet on the blockchain.
  • Avoid chat functions on external websites, instead contact support through a company's official website.
  • Avoid external applications that end in .apk (Android) or .mobileconfig (iOS) as these are not screened and pose an immediate risk of compromising your device data through malicious software.
  • Never mix someone you met online and investment advice.

Respond

  • Don't pay more money (ransom) to release your funds.
  • Keep records. Take screen shots of conversations with the people involved in the scam.
    Save email addresses, phone numbers, applications, and other pertinent information.
  • Change login information to any financial accounts you provided to the people involved in the scam.
  • Check for malicious software on your iOS device. Go to Settings/General/VPN & Device Management and checking for any unauthorized device configuration.
  • Be cautious when seeking non-law enforcement assistance. The information and assistance tracing lost assets may be incorrect and inadmissible in court, and may result in further loss.

Report

  • Report to your cryptocurrency exchange. Provide transaction information (i.e., your wallet address, receiving wallet address, date and amount of transaction, type of cryptocurrency, domain (website) name or app name.
  • Contact credit reporting companies directly. In some instances, if victims contact creditors (and in some cases collection agencies) immediately upon learning of a change in their ability to pay debts, the result may be a reduction, modification, or deferral of credit card or loan payments.
  • Report to law enforcement. Contact your local police department and file a police report. File a complaint on the Internet Crime Complaint Center (IC3). Contact your local Secret Service field office.

Important Numbers

U.S. Secret Service Victim Witness Assistance Program