Cryptocurrency Scam Alert: Protect Yourself from a New Threat

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:

1. Impersonation: Scammers pose as real estate agents, title officers, or clients using spoofed or hacked email accounts.

2. Urgent Requests for Crypto Payments: Victims receive messages requesting immediate cryptocurrency payments for deposits, escrow, or closing costs.

3. Fraudulent Websites: Some scammers create counterfeit websites that mimic legitimate businesses, directing victims to send payments to criminal-controlled crypto wallets.

4. Irreversible Transactions: Once sent, cryptocurrency payments are extremely difficult to trace or recover, making this scam particularly damaging.

Best Practices to Protect Yourself

Never Use Cryptocurrency for Transactions

Real estate transactions should never involve cryptocurrency unless verified through formal, highly secure channels. Treat any crypto-related request as highly suspicious.

Independently Verify Communications

Always confirm unusual or unexpected requests with the person involved using a known phone number or communication channel. Never rely solely on email for confirmation.

Use Secure Communication Platforms

Avoid sharing sensitive transaction information over unsecured networks or email. Employ encrypted email services or transaction platforms authorized by your brokerage.

Carefully Inspect Web Links and Emails

Double-check URLs for slight misspellings or irregularities. Type in known addresses manually and avoid clicking unknown links.

Educate Your Clients

Ensure clients are aware that NCJAR members will never request payment in cryptocurrency. Make cybersecurity education a part of your standard client communication.

What to Do if You Are Targeted

1. Do not respond to suspicious messages.

2. Report any incidents to your broker, local law enforcement, and the U.S. Secret Service or FBI Internet Crime Complaint Center (IC3).

3. Notify NCJAR so we can alert other members and track potential patterns.

Stay Informed and Protected

Cybercrime is a growing threat to the real estate industry. By understanding how these scams operate and applying simple protective measures, you can protect your business and your clients. NCJAR remains committed to providing timely updates and resources to help keep our members secure.

For further guidance or to report an incident, please contact NCJAR Member Services at This email address is being protected from spambots. You need JavaScript enabled to view it. or call (973) 425-0110.

Visit https://www.nar.realtor/legal/hot-topics-for-brokers#cybercrime for more information.