Queensland Police warn of phishing scam targeting crypto holders

Queensland Police have issued a warning over a new phishing campaign targeting cryptocurrency holders after victims across the state lost more than A$1.47 million in just five days.

According to the Financial and Cyber Crime Group, reports received between 3 and 7 July revealed an increasingly sophisticated scam in which fraudsters send physical letters containing victims' personal details and QR codes. The letters direct recipients to websites that appear legitimate and claim to provide important security updates for cryptocurrency or digital asset accounts.

Police said the scam highlights the growing use of both physical and digital tactics to steal credentials and gain access to crypto wallets. Authorities urged investors to avoid scanning QR codes or clicking links from unsolicited correspondence without independently verifying the sender.

The warning also reinforces broader cybersecurity advice for crypto users, including enabling two-factor authentication, safeguarding private keys and seed phrases, using strong passwords, and being cautious of unsolicited investment opportunities promising guaranteed returns. Victims of suspected investment scams are advised to immediately notify their financial institution and report the incident to Australia's cybercrime reporting platform.

Queensland Police said cryptocurrency scams continue to evolve, ranging from phishing attacks and fake investment schemes to employment, impersonation and romance scams, and urged investors to remain vigilant as fraudsters adopt increasingly convincing methods.