Consumer Protection Tuesday: No Real Cop Will Ever Ask You to Move Your Crypto
Tl;dr: A scam is resurging where criminals impersonate police, federal agents, or embassy officials, tell victims their identity is linked to money laundering, and pressure them into opening a Coinbase account, sharing their screen, and moving funds to a "safe" wallet the scammer controls. Real law enforcement will never call you and demand you move crypto, open an account, or share your screen. If this happens to you, hang up and verify through official channels.
This post is part of a weekly Tuesday series at Coinbase about the latest consumer protection and security measures for crypto owners.
At Coinbase, we're on a mission to help update the financial system to make it safer and more secure. While under 1% of blockchain transactions are used for illicit activity, and cash remains the preferred medium for illegal transactions, crypto security is always a top priority. Coinbase maintains a robust compliance program, which includes Know Your Customer (KYC) checks, sanctions screenings, suspicious activity reporting, and strong law enforcement partnerships to detect and prevent illicit activity on our platform.
The Scam: A Badge, a Threat, and a "Safe" Wallet
It starts with a call. The person on the line says they're a police officer, a federal agent, or an embassy official. They may know personal details that make them sound credible. Then comes the accusation: your identity or bank account has been linked to money laundering or another serious crime.
From there, the script follows a pattern:
Create urgency and fear. The caller warns of arrest, frozen accounts, or legal action if you don't act immediately.
Direct you to open a Coinbase account. They frame this as the only way to "protect" your funds from the criminals who supposedly stole your identity.
Ask you to share your screen. Using tools like Teams or AnyDesk, they watch and guide every step you take, including account setup and verification.
Move you to a "safe" wallet. They convince you to transfer your money into a wallet they claim is secure and controlled by the government. It's actually controlled by them.
By the time the call ends, the funds are gone.
The Lesson: Real Law Enforcement Doesn't Work This Way
No real police officer, federal agent, or embassy official will ever:
Call you out of the blue and demand immediate action
Ask you to move money or crypto to "protect" it
Instruct you to open a new Coinbase account
Ask you to share your screen or install remote access software
Threaten arrest if you don't comply right away
Legitimate law enforcement communicates through official channels, in writing, through your attorney, or by appearing in person with proper identification. They never ask you to move your own money as part of an investigation.
What to Do If This Happens to You
Hang up immediately. Don't stay on the line, and don't engage with the pressure.
Never share your screen with anyone who calls you unsolicited, especially if they're asking you to log into a financial account.
Verify independently. Look up the agency's official number yourself and call them directly. Don't use a number or link the caller gives you.
Don't open new accounts or move funds because someone on the phone told you to.
Report it. Contact your local police, the FBI's IC3 (ic3.gov), and Coinbase Support if a scammer directed you to use our platform.
Slow Down When Someone Says "Act Now"
Urgency and fear are the scammer's real weapons, not a badge or a title. Any call demanding you move money immediately to "protect" yourself is a scam, no matter who the caller claims to be.
If something feels off, it probably is. Hang up, take a breath, and verify through official channels before you do anything else.
