There has been an increasing number of cases of cryptocurrency fraud in the UK. As the safety of our cardholders is of vital importance to us here at OnePay, we have put together some things to look out for and some useful tips to help you stay safe against fraudsters.
What is cryptocurrency fraud?
Cryptocurrency is a digital or virtual currency - Bitcoin, Ethereum and Tether are some of the most popular but there are several other cryptocurrencies available. Fraudsters are advertising schemes promising high returns through investing in cryptocurrency to lure you in so they can obtain your personal information and money.
What to look out for?
Fake websites
Always double check domain names are correct, scammers will create fake versions of legitimate crypto websites. Be vigilant of the name in the URL or any misspellings, unusual domains, or additional words and make sure the site is authentic.
Cold callers
Beware of unsolicited callers informing you of the benefits of cryptocurrency – they may be calling to steal your personal information or money.
Social Media
Beware of companies promoting a new product that offers unrealistic returns on investments or a celebrity endorsement with a crypto website to make the site seem more authentic.
Blackmail
Fraudsters may send emails or texts advising that they have incriminating information about you, a common example is saying they have explicit photos of you which they threaten to post online unless you send them funds in crypto.
Don’t forget
Fraudsters will urge you to spend quickly advising this is a once in a lifetime offer or that you must sign up within the next hour. This is a tactic to rush you, always take some time to stop and think and ask yourself if what you are being asked could be part of a scam.
If you haven’t heard of the company contacting you, do some research on them and read reviews that other users may have left.
Remember, if it sounds too good to be true, it probably is!
If you think you may have been the victim of fraud on your OnePay account, lock your card via the ‘My OnePay’ App or Online Portal and contact us immediately on 0113 320 1900.
