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FollowingScammers posing as detectives and employees of cryptocurrency companies recently stole millions of dollars from wallet holders in New Zealand.
Detective Inspector Stewart Mills said that police have received multiple reports from cryptocurrency accounts and wallet holders. He pointed out that the total damage has reached millions of dollars.
The starting point of the fraud is when the caller claims to be a police detective and claims that the victim's identification documents or personal information were found on the person recently arrested. The fake police will first confirm whether the victim holds cryptocurrency and the amount, and then a second fraudster will appear and pretend to be a representative of the victim's cryptocurrency company. The representative would persuade victims to provide passwords or mnemonics, and sometimes guide them to a fake website that looked like a formal cryptocurrency application.
"This type of fraud is increasing and we hope the community will be more vigilant." Mills said.
Police stress what they would never do
Mills pointed out that real police officers do talk to people during investigations. But they will never call and ask for information such as cryptocurrency wallets, bank cards, passwords, personal identification codes or mnemonic words. He also said the caller numbers or email addresses displayed on the screen were meaningless because fraudsters could forge real police contact details.
Anyone who suspects the identity of the caller should ask for details of the other police officer, then hang up the phone and contact police directly. New Zealand's National Cyber Security Center reminds people to be wary of calls urgently requesting software, funds or access to accounts/devices.
People in other regions have also been caught in cryptocurrency scams
Similar warnings have also appeared across the Tasman Sea. Between July 3 and 7, local residents suffered a different phishing attack, with losses of more than $1.47 million reported to the Queensland Financial and Cybercrime Unit. The victims received a physical letter containing their personal information and a QR code, which was scanned and redirected to a website claiming to provide security updates.
A 70-year-old chartered accountant in Gwalior, India, was led to a fake trading platform after being added to a friend on social media, losing approximately US$2.2 million. The platform initially showed false profits, and the scammers later refused to return the funds.
FBI data shows that U.S. cryptocurrency losses in 2025 will reach US$11.4 billion, an increase of 22% over the previous year.
