Skip to main content

At first, scammers tried to get you to wire them money. Then, they demanded payment with gift cards. Now, scammers are luring people into paying them with Bitcoin – a type of digital money or cryptocurrency. Read on to learn how to spot and avoid some of the top ways scammers are trying to get you to pay with Bitcoin.

1. Blackmail Scam. Someone says they know about an alleged affair, or something else embarrassing to you, and demands payments with Bitcoin or another cryptocurrency in exchange for keeping quiet. This scammers might use threats, intimidation, and high-pressure tactics to get you to pay right away. But, as we wrote in this blog post, that’s not only a scam, but also a criminal extortion attempt. Report it to the local police, the FBI, and the FTC at ftc.gov/complaint.

2. Online Chain Referral Schemes. This type of scam works like a chain letter: someone promises that you’ll make money if you pay into the scheme. But, in a twist, these scammers say you have to use cryptocurrency to pay for the right to recruit other people into the chain…so that you’ll then be rewarded with more cryptocurrency. Except you won’t. Instead, you’re guaranteed to lose money.

3. Bogus Investment and Business Opportunities. Someone might offer you investment and business opportunities that promise to make you big money, or give you financial freedom. But remember, only a scammer will guarantee that you will make money — in dollars or in cryptocurrency.

For more tips on avoiding scams, check out How to Avoid a Scam. Spot a cryptocurrency scam? Tell us at ftc.gov/complaint.

Search Terms
cryptocurrency
gift cards
money transfer
scam
Topics
Unwanted Calls, Emails, and Texts

It is your choice whether to submit a comment. If you do, you must create a user name, or we will not post your comment. The Federal Trade Commission Act authorizes this information collection for purposes of managing online comments. Comments and user names are part of the Federal Trade Commission’s (FTC) public records system, and user names also are part of the FTC’s computer user records system. We may routinely use these records as described in the FTC’s Privacy Act system notices. For more information on how the FTC handles information that we collect, please read our privacy policy.

The purpose of this blog and its comments section is to inform readers about Federal Trade Commission activity, and share information to help them avoid, report, and recover from fraud, scams, and bad business practices. Your thoughts, ideas, and concerns are welcome, and we encourage comments. But keep in mind, this is a moderated blog. We review all comments before they are posted, and we won’t post comments that don’t comply with our commenting policy. We expect commenters to treat each other and the blog writers with respect.

  • We won’t post off-topic comments, repeated identical comments, or comments that include sales pitches or promotions.
  • We won’t post comments that include vulgar messages, personal attacks by name, or offensive terms that target specific people or groups.
  • We won’t post threats, defamatory statements, or suggestions or encouragement of illegal activity.
  • We won’t post comments that include personal information, like Social Security numbers, account numbers, home addresses, and email addresses. To file a detailed report about a scam, go to ReportFraud.ftc.gov.

We don't edit comments to remove objectionable content, so please ensure that your comment contains none of the above. The comments posted on this blog become part of the public domain. To protect your privacy and the privacy of other people, please do not include personal information. Opinions in comments that appear in this blog belong to the individuals who expressed them. They do not belong to or represent views of the Federal Trade Commission.

Mister Ed
November 26, 2019
Unfortunately the only way that we can protect ourselves and our families is to take one short step at a time and follow it up with the next nail in the "Scammers" coffin. Don't let them get away with it!
welcomeMatt
November 26, 2019
one scammer put one of my passwords in the subject threatening to send everyone of my contacts allegedly sordid information. fortunately the password was for a newspaper on line account which I didn't use for anything else. one good reason to NOT the same password for multiple accounts
LJ
April 11, 2020

In reply to by welcomeMatt

I just had the exact same thing. I just reported it.
nk
April 16, 2020

In reply to by LJ

Got an email from Charrin Boggs today from an outlook email address threatening to send videos of me to 7 people from my contact list if I didn’t send $1000 in btc within 24 hrs... this person threatened to “make my life hell and shake my world”. I mean can it get any worse then this?! no job no money no family no friends no hope!!! Nah! Go ahead do what you gotta do boy/girl because we are already at end times sigh! Internet!
Ximbalou
April 21, 2020

In reply to by nk

I received the same kind of email. Did they send any information to your contacts? Thanks
Ken L
April 22, 2020

In reply to by nk

I got a similar Email from an Annmari Mccarvill. Glad I found this site. I will soon be reporting to the FTC
RC
May 03, 2020

In reply to by nk

I got one today! I reported them to the FTC, let's see if they will follow through and do something about it!!
Juny
May 21, 2020

In reply to by nk

I just got tge exact text but they said 6 instead of 7 people.
Jonathan
May 25, 2020

In reply to by nk

This happened to me today. A txt saying they were going to "shame me" if I didn't pay 1000 in bitcoin in 24 hours. If I didn't believe them I was to send the word "proof" back and they would show three of my contacts. Glad I read this blog. Going to ignore it.
JB
May 26, 2020

In reply to by Jonathan

I got a text message on 5/25. It was similar I was more concerned since it was a text and not an email. I reported it to the FTC, FBI and local police.
YourBoy
May 27, 2020

In reply to by Jonathan

I got the same thing today, did anything ever happen to you? They told me to enter “proof” but I’m just going to ignore it.
kennqueen
April 16, 2020

In reply to by LJ

I,m so glad I read your comment bc I was being threatened and this had never happened before. Then I read that you had signed up for an online newspaper and I had recently done the same with The NY Times. Too much of a coincidence.
Rachel
May 18, 2020

In reply to by kennqueen

I had recently done the same online subscription with The NY Times, and today I got same email requesting $2000 in bitcoins. What a coincidence!
jj
April 16, 2020

In reply to by LJ

Yes I received the exact same thing about porn and a video of me on my pc which I never use a computer telling me I have one day to send 2000 usd bitcoins or the video will be shared through Facebook
Velveteen dream
April 16, 2020

In reply to by jj

Literally the exact same thing happened to me today. I don't have a web cam nor do I use my computer for anything than gaming. Lol these idiots.
Lucie
April 18, 2020

In reply to by jj

The exact same thing has happened to me this morning, I know they have nothing like that on me as if never done anything pornographic haha still stressing about it, glad I’m not the only one
Adam broome
May 15, 2020

In reply to by Lucie

This guys are crazy, they once told me to pay in 5000usd bitcoin
Aeesha
August 11, 2020

In reply to by Adam broome

Really?. Hope you didn't pay. I was also scammed in similar situation
angelgrace2207
April 18, 2020

In reply to by jj

you need to not reply and block the person its a complete scam whatever you do not reply to that email .i recieved one the other day i sent that person an email threatening legal action these people are scum
RSC
April 22, 2020

In reply to by jj

Got the exact same email today. The password they showed was for Netflix which got hacked about 3 weeks ago. Please people: create unique passwords for every account, write them all down in a safe place
CH
April 23, 2020

In reply to by jj

Ditto...from Brig Hameed with a password in subject line.. I am to pay 2k or disgusting video will be released to 10 contacts on FB and cell and they will make my life hell. Just reported to FTC
just contacted…
April 23, 2020

In reply to by CH

same exact email from olav rosenbloom almost identical language how did you block this person
Bruce
April 27, 2020

In reply to by CH

Yep, got the email threatening to place porn on my facebook page if I did not send large dollar amount in bitcoins. Reported to FTC.
t
April 23, 2020

In reply to by jj

This is the exact email I got from "Eduardo Hlinka" today--terrible threats if I don't send $2000 in bitcoin within 24 hours of reading the email. I reported it to the FTC and FBI (Internet Crime Complaint Center)
rojoshoes
April 27, 2020

In reply to by t

I received the same email on April 23, 2020 from thisisaheealn@ same threats as others have reported. I reported to abuse@ outlook, Cox Communications, FBI IC3 and FTC. 24 hours passed and then a new email from Sinclair Pledger . it is the exact same letter however the bitcom address is different. then a caller from Uganda tried to call 256-700-041-517 blocked called. Hackers with time on hand that have old information from dark web. just ignore and report. Do not let these types of individuals take your spirit away. These are very difficult times and they feed on despair. Stay safe and strong we have hope they cannot hurt you. Just FYI I was hacked via instagram then Facebook. They changed email address and profile photos.
SLK
April 23, 2020

In reply to by jj

I just had that sent to me, I don't know how. but they had an old password of mine. Scary stuff!! Should I report it?
rpaulin
April 25, 2020

In reply to by jj

I just got the same email from Jonathan Surette listing an old password saying they got into my PC and have a sex tape of me and will send it to 8 people if I don’t pay them $2k in bitcoin. HA, the only camera I have on my laptop has a post it note covering it and it’s my home office.... nice try scammer!
Rtm
April 29, 2020

In reply to by jj

We received the Exact same blackmail scam on the 27th of April. We did not respond, and reported it!
Dave
May 14, 2020

In reply to by jj

I received the same exact message today from a “Viole”. I had never received something like this before, so it really freaked me out at first. Fortunately, I decided to research scams related to this which finally put my mind at ease. There are some seriously selfish/immoral people out there who only care about their personal gain! Be aware of what’s going on and don’t give into your fears. These scams exist because some people actually give in and pay. I just hope that some of these people are being caught and put behind bars!
KS
May 14, 2020

In reply to by jj

I got a similar email with a password I don't even remember. Like it had to have been from almost twenty years ago. I don't use my camera or record jack so they lost me with those threats.
DC
May 14, 2020

In reply to by jj

I received the same exact email today!! This is really crazy!! People have nothing else better to do.
Bill
August 26, 2020

In reply to by jj

Inflation must be rampant - I just got the same sort of email from some non-entity calling itself "Todd Mitchell", with a reply going to some zulamin12 dude, asking for $5000 dollars in bitcoin. Something about a lurid video captured on my non-existent webcam. I was tempted to try a reverse scam by claiming to be a porn star and demanding $1000 for each scene he publishes, but didn't want to risk getting even more garbage from these characters.
just contacted…
April 23, 2020

In reply to by LJ

Just got email that they had password and wanted 2000 in bitcoin in 24 hrs who do i report this too. Local police have full plate with covid 19 just want to register complaint and block this scammer
Werbs
April 28, 2020

In reply to by just contacted…

I got two of the same, asking for $2000 in bitcoin, about 2 days apart form different people. This is extortion! Report to : FBI, local police or FTC.
Againstallodds
February 16, 2021

In reply to by Werbs

Someone also asked me to send money and bitcoin and promised me will get profit in 24 hrs is that true?
Sam P
April 29, 2020

In reply to by LJ

I have received two such emails over the last 6 days. I deleted and blocked and ignored. Today I received a very angry email about my deliberate ignore of the previous emails. Lots of swearing & much anger and insults directed at me. The Bitcon fee is now higher so they say, but no mention of what it’s gone up to and I have been given 17 hours and some minutes to make Payment. This followed a whole bunch of threats if I go to the media with it, inform anyone else about or not pay. I again blocked & deleted. I have never visited any such sites so am not really concerned, but am highly irritated because it’s an invasion of my privacy and also because I have received numerous warning of hacking threats on my device during the last couple of months. Pls can someone give me advice?
Return to top