Aussies warned to avoid crypto paper wallets they find on the street

Aussies warned to avoid crypto paper wallets they find on the street


Australians have been warned to stay away from suspicious-looking fake Bitcoin paper wallets, which work by luring victims into accessing a lucrative crypto wallet but will ultimately drain them of their own crypto holdings.

According to a Nov. 22 post on the Facebook page of the NSW Police Force, the scam starts as a paper cryptocurrency wallet with a QR code, which is made to appear like a legitimate Bitcoin paper wallet.

These are strewn by scammers in public locations such as streets or parks.

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An example of the scam crypto paper wallets. Source: NSW Police Force 

An individual that locates the paper wallet and scans the QR code is directed to click on a link to access a crypto wallet with up to $16,000 Australian dollars

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