Cryptocurrency scams are getting more advanced, and scammers more cunning, so it's essential to stay informed about them and the techniques they employ. A growing type of scam is using impersonation and phishing tactics to defraud victims.
Impersonation scams involve individuals posing as reputable companies, your bank, cryptocurrency exchanges, or celebrities to deceive those interested in cryptocurrency. It's important to be cautious and critical of anyone contacting you regarding your funds on VALR, your bank or investments.
What is an impersonation or phishing scam?
Impersonation or phishing scams involve creating fake websites or social media profiles that closely resemble well-known entities, using similar logos, names, and content to appear genuine. Through these deceptive means, scammers lure victims into fraudulent schemes such as fake investment opportunities, bogus giveaways, or elaborate phishing attacks designed to steal sensitive information like private keys, login credentials such as passwords or credit card numbers.
Scammers impersonating VALR pretend to communicate from VALR. They do this to mislead you in investment or trading scams, often indicating that you have a large deposit or profit waiting for you in you VALR account, requiring an up front payment to release these fake funds.
VALR will only communicate to you using our official social media profiles, or emails ending in @valr.com, such as help@valr.com. Any other designation or style must be considered a fraudulent actor misleading you.
Please review the examples below showcasing techniques that bad actors use in their phishing or impersonation attempts. This will help you stay informed and avoid falling for their scams.
Phishing 1
Phishing 2
Phishing 3
Phishing 4
Phishing and impersonation warning signs
Although each impersonation or phishing scam may be unique, here are a few warning signs that you may be getting phished or scammed by an impersonator
-
Unsolicited Correspondence
Unsolicited emails, social media messages, or ads promoting investments or trading schemes. Legitimate companies, such as VALR, usually don't cold-call or spam potential investors.
-
Pressure to Act Quickly
Scammers create urgency, pushing victims to act fast on fake investment opportunities. Always take your time to research and verify the source before investing.
-
Inconsistent Branding
Legitimate companies typically maintain a consistent brand identity across their online presence. Inconsistency in style or branding could indicate they are not the real company you are communicating with.
-
Fake Trading Groups
Fake trading groups use aggressive marketing, promoting themselves and fake testimonials from supposed successful traders claiming large profits. Fake VALR Trading groups have bad actors who impersonate VALR employees on these fake groups with our logo, promising high returns on investments and trading advice. New members are lured in by promises of quick riches, but they often are subjected to misinformation and manipulation.
-
Requests for Personal Information
Never disclose sensitive information such as passwords, private keys, credit/debit card details or personal identification details to unverified sources. Legitimate companies won't ask for such information via unsolicited emails or messages.
-
Too Good to Be True Offers
Exercise caution when encountering investment opportunities that promise high returns with little or no risk. If an offer seems too good to be true, it probably is.
-
Encouraging Additional Investment or Fees:
After the initial deposit, scammers might ask victims to invest more money, or pay fees to unlock supposed “profits” or to address fabricated issues with their accounts. These profits do not exist, and this is a method to extract more funds from their victims.
-
Fake Platforms and Interfaces
Victims are often directed to fake cryptocurrency platforms that look legitimate. These platforms are designed to mimic real ones, complete with realistic-looking dashboards and transaction histories. Victims might be asked to create accounts, deposit funds, or make transactions on these fake platforms.
How to protect yourself from Phishing and Impersonation scams?
Verify Official Channels
Always verify the authenticity of any communication received regarding your money by cross-referencing information with official channels, such as the company's website, their official support channels, social media profiles, or official announcements.
Exercise Caution
Be skeptical of investment opportunities and research thoroughly before investing. Scammers often use fake accounts to vouch for their legitimacy. Consult reputable sources and seek advice from trusted financial professionals if necessary.
Keep Your Details Private
Do not share personal information with unlicensed and non-regulated entities. Any details shared with bad actors can be used against you. If you've shared your passwords or account details, reset your passwords immediately. Protect your cryptocurrency accounts and digital wallets with strong, unique passwords and enable two-factor authentication (2FA) when possible. Stay alert for unauthorised access attempts, or notices of different devices accessing your accounts or other unrecognised activity on your accounts.
Stay Informed:
Stay informed about the latest scams and fraud tactics circulating in the cryptocurrency space. Regularly monitor news sources, social media, and community discussions to stay ahead of potential threats.
Reach Out To VALR
At VALR, we always make sure our employees are professional and honest, both online and offline. VALR does not have any financial advisors, traders or account managers working for us on social media or have employees providing financial or trading advice on social media outlets. VALR only communicates with clients via the below official channels and emails:
- Email addresses: help@valr.com or noreply@valr.com
- Submitting a request via our Help Centre: https://support.valr.com/hc/en-us/requests/new