Fake Blockstream Investment Scheme

Posted on Mar 16, 2022
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How the Scam Works

Scammers reach out on various platforms (Whatsapp, Facebook, Instagram, Twitter, LinkedIn, Telegram) offering their victims investment profits through mining, FX trading, or other schemes. The scammer may provide the link to the real Blockstream website (blockstream.com) but use other URLs to scam and communicate with victims.

Their fake websites include (but are not limited to):

 

Scammers try various ways to convince the victim that the platform is legitimate, and attempt to steal funds by asking for initial “investments”, “fees”, and “member upgrades” while promising consistent profits in return. They may provide small payouts initially to gain the trust of the user, but eventually will cut off communication after they have stolen enough funds or victims become suspicious. They may also direct to fake wallet websites (such as coinswebwallets.com) to trick the user into thinking they have received a payout. The scam may include some social engineering, where the scammer first tries to build a relationship with the victim.

The Real…

Blockstream offers products such as the Blockstream Mining Note (BMN), but we will never contact clients individually and ask them to send us money directly. The BMN does not promise guaranteed or fast profits like the scammer’s investment scheme and can only be purchased via platforms such as STOKR, Bitfinex Securities, and SideSwap. If you have any questions about the legitimacy of a Blockstream product, please communicate with us directly via our real website or support channels (blockstream.com – [email protected]).

How to Report the Scam

If you have encountered the scam described above, send us details on our Report a Scam form.

Unfortunately, we are not able to help you with resolving any disputes or recovering any funds, but your report will help us identify high-risk scams, alert the community, and report them to the relevant authorities.