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July 17, 2020 at 09:34 AM
The Treasury Department’s crime enforcement network wasted little time in warning financial institutions to be on the lookout for convertible virtual currency (CVC) scams like the one that permeated high-profile Twitter accounts Wednesday.
Cyber threat actors compromised the accounts of public figures — including Elon Musk, Barack Obama, Joe Biden and Kanye West — as well as organizations and financial institutions to solicit payments to CVC accounts, claiming that any CVC sent to a wallet address would be doubled and returned to the sender, FinCEN explains in an alert.
“It is critical that CVC exchanges and other financial institutions identify and report suspicious transactions associated with this type of activity as quickly as possible,” the alert states.
“If you receive one of these solicitations, do not send money or provide any personal or confidential information to these individuals without independent verification of authenticity,” FinCEN states.
