According to a report by Malwarebytes and the Better Business Bureau (BBB), scammers are now targeting regular activities like utility bills payments to steal Bitcoin from victims. Under this new scam, the threat actors provide the victim with a QR code and direct them to a Bitcoin ATM to make the payment. Notably, this scam depends on the victim panicking and following their directions to make a payment. In one case, the perpetrator pretended to be from an electricity company. They threatened the victim they will shut off their electricity or other utility services if payment is not immediately remitted. According to the report, QR scams rose to prominence amid the coronavirus pandemic.
Other forms of Bitcoin ATM scams
With the growth of Bitcoin ATMs globally, scammers have explored different means to steal victims’ money over the years. For example, notable scams saw fraudsters put homemade ‘out-of-order’ signs on Bitcoin ATMs, claiming that they are undergoing maintenance. Therefore, the scammers asked victims to scan the QR code attached to the sign and buy Bitcoins from the ATM. However, the code links the transaction with the Bitcoin wallet owned by the scammers. In this case, the funds go directly to the scammers’ accounts. In avoiding QR code Bitcoin scams, the report notes that people should remember that codes can also be untrustworthy, just like other web addresses. One notable means to detect fake code is when it directs to websites that require you to create an account. [coinbase]
