The sum is then purportedly transferred to the user’s own bitcoin wallet after they pay a withdrawal charge and input their password.
According to Cointelegraph, Australians have been warned to stay away from suspicious-looking fake Bitcoin paper wallets that entice users to access a reliable crypto wallet but ultimately deplete their own cryptocurrency holdings.
The fraud allegedly starts with a paper cryptocurrency wallet with a QR code made to resemble a real Bitcoin paper wallet, according to a post made on the NSW Police Force’s Facebook page on November 22.
These are dispersed by scammers in public areas like parks and streets.
A link connecting to a cryptocurrency wallet with up to $16,000 Australian dollars ($10,000) is shown when a user finds the paper wallet and scans the QR code.
The sum is then purportedly transferred to the user’s own bitcoin wallet after they pay a withdrawal charge and input their password.
Data from the Scamwatch website of Australia’s consumer protection agency
Australians have already demonstrated this year that they are particularly susceptible to cryptocurrency and investment-related frauds, losing 242.5 million Australian dollars to con artists, claims Cointelegraph.
According to Cointelegraph, the federal law enforcement agency of the country has also raised awareness of the illegal usage of cryptocurrency as a “growing concern,” but maintains it is challenging to keep up with criminals who regularly change their tactics.
