In recent months, the Australian Federal Police (AFP) has issued a stern warning about a sophisticated new scam targeting cryptocurrency‑holders: perpetrators are abusing the government’s national online system for reporting cybercrime, ReportCyber, in order to impersonate law‑enforcement officers and manipulate victims into handing over their digital assets.
The Modus Operandi
At the heart of the scam lies a multi‑step deception:
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First, the fraudsters sign in to ReportCyber and submit fake reports using stolen personal information (emails, phone numbers, identities). The aim is to create a real‑looking file number or reference number. According to the AFP, this lends authenticity to the next step.
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Then, the victim receives a phone call from someone pretending to be an AFP officer. The caller tells the victim that their identity appears in a data‑leak or crypto‑theft investigation, referencing the valid file number from ReportCyber. Feeling alarmed, the victim thinks that law enforcement is genuinely involved.
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Finally, a second call comes — often from someone imitating a cryptocurrency exchange or a “cold wallet” service — asking the victim to transfer their cryptocurrency to a safe wallet, or to login, or to share their seed phrase or other private keys. This “safe wallet” is actually controlled by scammers, and once the transfer takes place, the victim loses their funds.
The use of a legitimate government process gives the scam an element of credibility that many other frauds lack. As the AFP notes, because the scammers do submit something via ReportCyber, the reference number may appear valid, and victims are more easily misled.
Why This Scam Works
There are several reasons why this scam is particularly effective:
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Credibility via official channel: By using ReportCyber, the scammers create an impression of “official involvement,” which lowers victims’ guard.
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Urgency and fear factor: The caller claims your identity or crypto is implicated, prompting panic and hasty decisions — a classic social engineering trigger. The AFP emphasises this mix of urgency + authority as exactly what scammers rely on.
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Technical sophistication: Some victims report that phone numbers and caller IDs are spoofed to match actual AFP hotlines, enhancing the illusion that they are speaking to real officers.
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Pre‑acquired data: The scammers often already hold personal data (email, phone, etc) which allows them to appear plausibly informed, and therefore more convincing.
Broader Context: Australia Cracks Down on Crypto Scams
This scam isn’t occurring in isolation. It comes amid a broader regulatory crackdown in Australia on crypto‑related risks:
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The Australian Securities & Investments Commission (ASIC) has reportedly taken down over 14,000 phishing and scam websites over the past two years, of which over 3,000 were crypto‑related.
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The number of cryptocurrency ATMs in Australia has grown dramatically — from about 23 six years ago, to roughly 2,000 today — raising regulatory concern about money‑laundering, fraud and other illicit uses.
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The Australian Transaction Reports and Analysis Centre (AUSTRAC) has declared digital assets one of the top threats, and the government has called the upcoming reforms “the most ambitious money‑laundering overhaul in decades.”
So this scam is not simply a novelty — it’s symptomatic of how quickly fraudsters are adapting to digital asset ecosystems and using regulatory tools (ironically) to their advantage.
What You Should Do to Protect Yourself
Given the risks shown by this incident, here are key recommendations for crypto‑holders and the general public:
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If you receive a call purportedly from law‑enforcement (e.g., the AFP) about a ReportCyber case you did not initiate, hang up and call the official number yourself (AFP advises phoning 1300 CYBER1 in Australia) to verify.
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Never provide access to your crypto wallet credentials, seed‑phrase, PIN or private keys to anyone claiming they are “investigating” or that you must “move funds to safety”. Real law‑enforcement won’t ask for this.
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Be wary of requests to move or transfer crypto under pressure or with a sense of urgency — these are classic signs of fraud.
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Keep your personal data secure and minimise what’s publicly available — the more the scammers know, the more they can personalise their approach.
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When in doubt, verify official communications by going directly to known institutional websites rather than clicking links or trusting caller‑ID alone.
Conclusion
The exploitation of a legitimate national cyber‑crime reporting system — ReportCyber — by fraudsters highlights how scams are evolving. They’re no longer just generic “you won a prize” emails, but highly targeted, multistep operations that blend authority, fear and urgency. For anyone involved in cryptocurrency, this case serves as a stark reminder: the intersection of emerging tech, regulation and human psychology can create potent traps. Staying vigilant, verifying contacts, and retaining a healthy dose of scepticism remain your best defences.
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