Is someone “helping” you invest? Stop before you send anything

A dangerous investment scam is currently targeting Australians through facebook ads, phone calls and video meetings.

The scammer presents themselves as an investor, broker or account manager. They may offer to help you create exchange accounts, complete identity checks and make your first investment.

They might also ask you to share your screen, install remote-access software or show them your wallet. If they have seen your seed phrase, recovery phrase or private keys, they may already have complete control of your funds.

The profits shown on these dashboards are often fake. The numbers may keep increasing, but the money usually cannot be withdrawn.

Once cryptocurrency has been transferred to the scammer’s wallet or another platform, the transaction generally cannot be reversed.

The scam may continue after your money is gone

After the victim realises the investment was fake, the same scammers may return pretending to be a recovery company, investigator or legal service.

They claim they can recover the stolen funds but first require payment for taxes, legal costs, blockchain fees or account-release charges.

Do not send more money. Unsolicited recovery services asking for upfront payments should be treated as another scam.

If someone is currently helping you invest, has accessed your computer or has told you to hide their involvement, stop all contact and do not transfer any more funds. Contact Cointree immediately.