Florida Department of Agriculture and Consumer Services Warns Vehicle Owners About Crypto Scams
The Florida Department of Agriculture and Consumer Services (FDACS) issued a warning sharing insights into identifying robocall scam marketing auto warranties. This scam marketing includes asking victims to pay for services via gift cards and cryptocurrencies.
Florida Department of Agriculture and Consumer Services Shares Tips
The FDAC newsletter highlighted five red flags that can help citizens identify and evade possible scams. Consumer complaints about robocall scams are increasing.
According to Cointelegraph, Scammers use prerecorded calls to market and sell fraudulent services. This led the Enforcement Bureau to order phone companies to avoid carrying robocall traffic.
The first red flag FDAC emphasized is how hackers request immediate action on a so-called urgent matter. Targets are likely to receive a call or letter to take immediate action to continue their car’s warranty coverage.
Another red flag FDAC mentioned in their newsletter is a company’s false claims to be capable of addressing an issue not related to the company. They gave an example saying, an outside company may offer to extend the factory warranty, something only vehicle manufacturers can do.
Furthermore, they emphasized the commonly known method that hackers use, the imposter method. The hackers pose as workers, implying they work for your vehicle manufacturer or a trusted company.
Additionally, the hackers request personal details such as social security numbers and credit card information.
Lastly, after hackers successfully capture the minds of their targets, they direct them to pay in cryptocurrency or gift cards.
Consequently, FDAC mentioned the impossibility of tracking down crypto funds from hackers. However, corporations such as Chainalysis have successfully recovered stolen funds from hackers using the tools of blockchain technology.
It was previously reported that the crypto intelligence firm, Chainalysis, recovered $30 million worth of cryptocurrencies from Lazarus Group. Chainalysis said that they were tracking the funds as the hackers battled the complexity of cashing out cryptocurrencies.
On Thursday, the firm announced that it successfully recovered $30 million, out of the $625 million that was stolen from Ronin Network.
