Credit: Police Lëtzebuerg
The Grand Ducal Police have warned of cryptocurrency trading platform scams.
In a statement issued on Wednesday 5 February 2025, the police said there had been several reported cases in which users of cryptocurrency trading platforms (e.g. Binance, Coinbase, Kraken, Bitfinex, Crypto.com, Gemini) are being targeted by fraudsters. The scam involves victims receiving an SMS message from the alleged trading platform informing them that someone has tried to log into their account. The victim is told they must now call a specific number to stop the process.
Subsequently, the victim is tricked into transferring the cryptocurrency to a trust wallet and giving the perpetrator the account's additional security information. Once the perpetrator has all the data, they have full access to the account and can transfer the cryptocurrency to another account.
The police recalled that reputable platforms never ask their customers to transfer their cryptocurrency or send it to another account. The police also warned users against sharing their access data and security information (seed phrase, passwords, private key) with other people.
