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Cryptocurrency Scam Alert: Protect Yourself from a New Threat
- Details
- Category: NCJAR News
Issued in Collaboration with the U.S. Secret Service and NAR
Real estate professionals are being targeted in a sophisticated cryptocurrency scam that has drawn the attention of the U.S. Secret Service and the National Association of REALTORS® (NAR). As digital financial transactions become more common in the industry, scammers are taking advantage of new vulnerabilities. NCJAR urges all members to remain alert and take precautions.
How the Scam Works
This scam involves impersonation and social engineering tactics designed to trick real estate professionals and clients into transferring funds via cryptocurrency. Here is a common scenario:
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Impersonation: Scammers pose as real estate agents, title officers, or clients using spoofed or hacked email accounts.
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Urgent Requests for Crypto Payments: Victims receive messages requesting immediate cryptocurrency payments for deposits, escrow, or closing costs.