Rising Tides - Unmasking the Surge in Cryptocurrency Phone Scams

tellows Insights Report
Richard Grant
Richard Grant - Expert in Telecommunications and User Protection
Richard is responsible for tellows' Consumer Protection department and is responsible for investigating all matters relating to telephone fraud, with a particular focus on developments in the telecommunications sector. Last updated: Nov 11, 2023

In the dynamic world of cryptocurrency, a dark underbelly has emerged – a surge in scams targeting unsuspecting individuals through phone calls. This insight into cryptocurrency phone scams not only unveils the alarming statistics but also sheds light on the broader context of the burgeoning cryptocurrency market.

Categorizing Cryptocurrency Scam Calls

  1. The Blockchain Revolution.
  2. Trusted brokers and finance advisors.
  3. Proliferation of Trading Platforms.
  4. Most important scam numbers.
tellows crypto numbers
 

The Blockchain Revolution

As blockchain technology gains widespread acceptance, particularly in commercial sectors, the allure of cryptocurrencies continues to grow. The transparency and security offered by blockchain have positioned it as a game-changer, but not without it's shortcomings, with [87.5%] of reported cryptocurrency-related phone calls subject to scams exploiting the market's increasing complexity.

  • Cryptocurrency calls with a Positive Rating:
tellows users submitted to 3 different phone numbers a total of 7 ratings.
PhoneNumber Ratings Caller Example Score
02071862600 3 Swissquote Broker I signed up for an account with Swissquote to invest in some cryptocurrency, and they called me with 1
02825447780 2 FPMarkets Brokers Cryptocurrency broker calling about my crypto portfolio with them. 1
02035449646 2 Axi Brokers I opened an account with Axi in UK to trade in cryptocurrency. They calling just to confirm the FYC 1

Trusted brokers and financial advisors

Trusted brokers and financial advisors play a pivotal role in navigating the volatile waters of the cryptocurrency industry. With their expertise, investors can make informed decisions, optimize profits, and engage in strategic day trading. These professionals provide valuable insights, market analysis, and risk management strategies, fostering a secure environment for cryptocurrency enthusiasts to thrive. Partnering with trustworthy advisors ensures a guided journey through the complexities of the market, empowering investors to capitalize on opportunities and navigate challenges with confidence.
  Some ways to identity a trusted broker, include:
  • Verification Process
  • Consistency in Information
  • No Pressure Tactics
  • Recognizable Contact Information
  • License and Regulation
 

Proliferation of Trading Platforms:

The rise of cryptocurrency trading platforms has created both opportunities and risks. Scammers leverage the abundance of these platforms, making it challenging for users to discern between legitimate opportunities and fraudulent schemes. Tellows data reveals a [114%] increase over the last 10 years in reported scam calls related to trading platforms.
 

Scammers Impersonating Cryptocurrency Trading Platforms

tellows users submitted to 53 different phone numbers a total of 420 ratings.
PhoneNumber Ratings Caller Example Score
+441782547895 42 Regno Unito They say that there's Bitcoin in your name, and the account where it's stored is blocked, and they n 9
+447915608643 5 Crypto Trading (Scam) Trying to sell crypto trading portfolio. 8
+442045773819 22 Crypto Trading (Scam) Voice recording about crypto payouts being blocked, and to press '1' if need assistance. 8
02045772744 12 Crypto Trading (Scam) Saying my crypto account will be blocked. 8
+447742715964 14 Crypto broker (spam Man saying he's a broker for Bitcoin, offering to help setup an account to start trading. Very rando 8
   

Cryptocurrency Phone Scam Protection

  • Be cautious of unsolicited cryptocurrency calls; genuine providers rarely initiate such contact for sensitive information.
  • Avoid sharing personal details or updating account information via email or text messages.
  • Do not follow instructions from automated voices or press buttons as directed.
  • Only share account information on the official cryptocurrency platform and avoid third-party websites.
  • If in doubt, contact your cryptocurrency provider through official customer support channels; avoid returning calls to suspicious numbers.
  • If you receive a call from an unknown or suspicious number, consider blocking the caller.
  • Review tips from cryptocurrency providers on recognizing and handling scam calls; report such incidents to relevant authorities.

Utilizing tellows for Cryptocurrency Call Protection

  • Verify unknown cryptocurrency-related numbers on tellows.co.uk to assess the legitimacy of the caller and the purpose of the call.
  • Install and use tellows apps for iOS and Android to identify unknown calls in real-time and make informed decisions.
The rise in cryptocurrency-related scam calls demands vigilance. Follow best practices to protect personal information and leverage resources like tellows for identification and reporting of suspicious cryptocurrency calls.

tellows Insights for Journalists

This comprehensive research, compiled by the tellows Insights team, merges exclusive tellows data with expert analysis. Daily assessments of user-provided ratings enable the creation of informative statistics and identification of emerging scam patterns related to cryptocurrency calls. Leveraging the vast tellows database, the team crafts in-depth studies. For inquiries or more information, please contact our team. All graphics and data are available for editorial use with proper credit. As of the latest update on Nov 11, 2023, tellows has scrutinized these cryptocurrency-related phone numbers, assigning tellows scores from 1 (trustworthy) to 9 (suspicious). Higher scores indicate greater risk. This report focuses on numbers associated with cryptocurrency entities, considering user-reported volumes.

*User interest for numbers assigned to Crypto Trading Platforms



tellows Insights Report