BitBay Warns Its Customers Against Growing Telecaller Scam

July 10, 2020      Vandana Malik

BitBay, a Polish crypto exchange has warned all of its customers against the recent telecaller scams. It has been specified that these scammers are stealing funds by impersonating as the representatives of exchange. The firm posted on Facebook on Wednesday and specified that these scammers are asking the account details from BitBay customers. They are offering them Bitcoins and in order to complete the transactions, they are asking the account details of the customers.

BitBay asks customers to check the number before receiving calls

In the announcement, the firm has said that these scammers impersonate as BitBay’s representative and given false information to the users about adding new Bitcoins to the exchange. BitBay has warned the customers to not share any information related to passwords, data or any other account-related information over a phone call. The firm has also specified that there are only six official numbers through which exchange calls its clients. Hence, it has asked the customers to check the numbers carefully before receiving calls from an unknown number.

Crypto scams are increasing in 2020

For the past some time, it has been seen that crypto scams are increasing day by day. It is not only BitBay which has been targeting for such scams as several other exchanges have also faced such things. Not only exchange but an individual’s wallets have also been hacked and cryptocurrency was stolen from them. Recently, a report has been revealed by Cipher Trace which shows a huge number of scams this year.

In the report, it has been stated that till now, the scammers have stolen around $1.4 in crypto this year. Not only the exchanges, but these scammers are also impersonating some famous personalities and celebrities for such scams. One scammer impersonated Elon Musk and made a scam of around $2 million. This year such scams are increasing because people are moving towards digital transactions due to COVID-19 pandemic. Scammers are seeing it as a great opportunity and cryptocurrencies are on top target.

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Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.