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WARNING: F.B.I. Trying To Keep People AWAY From Crypto?

I wouldn’t put it past them!

Recently The F.B.I. has been at the center of many scandals, and The American people have been slowly losing faith in the organization for quite some time.

Now The F.B.I. has come out to issue a dire warning against crypto scams, but I think this is more of a ploy than anything.

The U.S. Dollar continues to face inflationary pressures, as well as declining faith in both the government which issues the currency and the fundamentals of the currency itself.

Given that so many people are currently flocking to crypto, this is no doubt worrying U.S. authorities.

The entire legacy financial system may be at stake here, and it isn’t too hard to imagine a decentralized future where big banks, foreign exchange institutions, and corporations like Amazon all lose viability.

In other words, those in the government are scared—they’re real scared.

This is what The F.B.I. had to say:

Forbes outlined the warning:

“Cybercriminals are targeting cryptocurrency users, exchanges, and third-party payment platforms in the virtual asset industry, resulting in large amounts of financial loss to victims,” the FBI alert, issued via a system for distributing sensitive information to selected groups and individuals called the Traffic Light Protocol, reportedly read.

Once the stolen cryptocurrency has been transferred to attacker-controlled accounts it can be hard for law enforcement to recover it, the FBI warned.

The FBI advised financial and crypto companies to check the origin of emails and keep an eye on recently created accounts while those buying bitcoin and cryptocurrencies were encouraged to use multi-factor authentication—meaning they must have access to at least two devices or accounts linked to the platform—avoid download requests, remote access applications and any unofficial company communication channels. wrote:

Sim swap attacks are difficult to tackle because they are relatively easy to complete. The attacker just needs to get hold of the telephone number of the potential victim. Then these attackers proceed in two different forms: the first one involves identity theft, with the attackers fooling tech reps into believing the affected person lost or damaged the sim card. This prompts them to issue a new sim card to the attacker.

The other vector involves insider contacts in a telephone carrier. The attacker leverages this contact to obtain a new sim with the number of the potential victim. This allows them to gain access from exchanges even if there is some kind of multi-factor authentication defense in place. The FBI has warned about these dangers before.

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