For every legitimate industry that exists, there will be malicious parties that will try to take advantage of ignorance or peoples’ trust in order to illegally acquire money. The crypto industry is not exempt as they have been incidences of cryptocurrency exchanges and wallets being hacked, crypto-jacking as well as various criminals out in to get people to give up their cryptocurrency and these has seen malicious parties also resort to the impersonation of high-profile individuals and even institutions as large as the Internal Revenue Service in the United States. 

Across the pond, scammers have gone is step further by impersonating the private secretary of Queen Elizabeth II and asking citizens to donate £2.5 million in bitcoin in order to save the local economy in the event of Brexit.

A Royal Scam 

This scam was revealed by Paul Ridden,  who is the CEO of Smarttasks, a UK based IT firm and he posted a copy of the letter on LinkedIn with the phishing scam and asking if anyone else had received such letters. In the letter, the sender states that that is not the first time that  the queen will appeal to a certain number of citizens to help out in time of the country’s need. The letter also states that the Queen has accumulated 82 percent of the £19 billion pounds that will be needed to be paid to the European Union so as to save the British economy. Lastly, the letter now appeals to the recipient to send money to them in bitcoin for this supposedly noble effort.

The letter also claims that the royal house is looking to borrow between £450,000 to £2 million from citizens in order to save the British economy and in return for sending this money via bitcoin, they promise a 30 percent interest-rate over three months as well as a chance to become a Member of the Royal Warrant Holders Association. This matter has been reported to Buckingham palace by a british IT firm but have not received a comment. However, many express that it is unlikely that this scam will be successful as the scenario is rather absurd and there is very poor use of grammar.

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