Police are warning people about scammers who are targeting users of cryptocurrency wallets and accounts, by impersonating police officers and cryptocurrency company representatives.

Over the past few weeks, victims have reported scams which have resulted in millions of dollars in losses.

Detective Inspector Stuart Mills said in a statement that the scammers were posing as police detectives, often claiming that the victim’s details, information, or identity documents had been found on a person who had been arrested.

“The fake detective directs their questions towards establishing if and how the victim holds cryptocurrency, before arranging for a fake representative from the cryptocurrency company to contact the victim.

“The fake representative then convinces the victim to hand over their passwords or seed phrases, often through a fake webpage resembling a legitimate cryptocurrency application.”

Police are urging people to protect their cryptocurrency information, and not to give it out to anyone they aren’t familiar with, Mills said in the statement.

“This type of scam is on the rise, and we want the community to be alert.

“There are instances where legitimate police officers will contact you as part of their duties, but New Zealand Police will never ask you sensitive financial details,” he said.

Remember:

- Police will never make unsolicited requests for details about your crypto wallets, bank cards, PIN, seed phrases, or passwords on a phone call.

- Trust your instincts – if something doesn’t feel right, or is too good to be true, it probably isn’t.

- If you are contacted by someone conducting a ‘Police investigation’ into cryptocurrency, check in with a trusted friend or relative.

- Be aware scammers can ‘spoof’ legitimate police phone numbers and email addresses, so this is not a reliable way to check who’s contacting you.

- If you are still uncertain or confused, ask for the officer’s details, hang up, contact 105 and request that officer call you back.

- Never give out your seed phrase.

- If you believe you are the victim of a scam or feel this situation may be familiar, please report the matter to police.

Here is some advice from Own Your Online, National Cyber Security Centre:

- Do not follow instructions to share your details online, especially your seed phrase.

- Be wary of calls from unknown numbers. Look out for the following:

- An unexpected call from an organisation;

- A sense of urgency to act now;

- A request to download software, transfer money, or provide access to devices or accounts.

If you’re a victim of a scam or fraud-related incident, report this to police through 105, either online or over the phone.