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• How it Works: This is one of the fastest-growing threats, leveraging AI.

  • Impersonation: The scammer calls the victim, often spoofing the caller ID to appear as a legitimate company (e.g., “Coinbase Fraud Team”).

  • Deepfake Audio: The attacker may use an AI-generated voice that sounds exactly like a friend, family member, or a known executive to build trust instantly.

  • Pretext: They fabricate an elaborate, urgent story (e.g., “There is a massive security breach, and we need you to move your crypto to a new, secure, temporary address managed by us for protection”) and coach the victim into sending their funds to the attacker’s wallet.

• Goal: To coerce the victim into making an Authorized Push Payment (a manual transfer) that the victim authorizes themselves, which is virtually impossible to reverse.