Crypto Heists Go Meta: How Scammers Weaponized ReportCyber to Drain Digital Wallets

Cybercriminals just leveled up—by turning the system meant to stop them into a theft vector.

The bait-and-switch playbook: Fraudsters are now impersonating ReportCyber, Australia's official cybercrime portal, to trick victims into surrendering private keys. No fancy smart contract exploits needed—just old-school social engineering with a crypto twist.

Why it works: The scheme preys on two immutable truths: victims panic when told their assets are 'compromised,' and nobody actually verifies government email domains. A perfect storm of fear and laziness—Wall Street traders would call it 'market inefficiency.'

The silver lining: Every headline like this pushes institutional adoption forward. Nothing legitimizes crypto like proving it's worth stealing.

• Cybercrime scammers exploit Australia’s ReportCyber platform to steal cryptocurrency.
• Fraudsters use stolen personal data to impersonate AFP officers in crypto scams.
• ASIC targets 130 new malicious sites weekly amid rising crypto-related fraud.

Cybercriminals in Australia are abusing the government’s cybercrime reporting system to steal cryptocurrency, authorities warned on Wednesday. The Australian Federal Police (AFP) revealed that scammers are submitting false reports through ReportCyber, a platform designed for citizens to report cybercrimes. 

These scammers pretend to be the agents of AFP by stating that the personal data of the victim is involved in investigations associated with crypto-related crimes. They aim to deceive their victims into sending digital valuables into nonexistent SAFE wallets.

The fraudsters play around with those personal details stolen so as to come out as credible. They use information found in the official ReportCyber site to legitimize their fraud. 

Cybercrime Fraudsters Use Fake Reports to Trick Victims

The fraudsters MOVE with speed and establish an impression of urgency to affect victims into relocating their funds. According to AFP Detective Superintendent Marie Andersson, the tactic is used so that the criminals can gain trust in their targets.

After making a fake report, the cybercrime group calls the victims using a bogus case reference number. This enhances the legitimacy of the scam. In one instance, one of the victims informed us that his name was included in a data breach in the cryptocurrencies. 

The fraudster inserted a valid-appearing reference number and then forwarded the victim to a so-called representing agent of a crypto platform. The representative asked the victim to deposit money in a fake cold wallet so that it would be preserved. The victim became suspicious and hung up before sending over money.

Fraudsters Use Fake AFP Calls to Steal Cryptocurrency

Scammers have been discovered to be utilizing bogus phone numbers to make imitation AFP lines as well. This strategy also promotes the credibility of the scam. The AFP also warned Australians that any offers by the legitimate AFP officers to gain access to crypto accounts, seed phrases, banking information, etc. will never exist.

The AFP also advised people to be suspicious of an approach claiming a ReportCyber submission that had not been made. Any suspected website should never be called, and one should drop off the phone and call the AFP at 1300 CYBER1 to seek advice.

Such a warning follows increased attempts made by the Australian government to fight crypto-related fraud. In the previous month, Home Affairs Minister Tony Burke revealed a law to control crypto ATMs. 

The law is aimed at high-risk products associated with money laundering and child exploitation. Meanwhile, the Australian Securities and investments commission (ASIC) has dismantled more than 14,000 scam websites since July 2023. 

Approximately one out of five of such sites was associated with crypto fraud. The new number of malicious sites that ASIC is currently targeting is 130 annually, which comprises fake social media advertisements and AI-operated cryptocurrency income schemes.

The AFP focused on the importance of reporting valid cybercrimes as a way of fighting scams and criminals.