An unexpected call about your money can feel urgent, particularly when the caller knows your name or claims to represent a trusted organisation. Impersonation scams use that concern to make following instructions seem like the safest choice.
The critical step is to verify the contact independently. A convincing voice, familiar logo or official-looking reference number is not enough to establish who is speaking.
Key takeaways
Knowing your personal information does not prove a caller's identity.
Requests to move crypto to a supposed safe wallet are serious warning signs.
End uncertain contact and reach the organisation through its official website or app.
Who might a scammer pretend to be?
Scammers can imitate CoinByte or another exchange, your bank, police, a government agency, a regulator or a cybersecurity team. They may claim several organisations are working together on the same investigation.
The story often starts with something threatening: a data breach, an unauthorised login, an account under investigation or funds supposedly at immediate risk. The caller then presents themselves as the person who can resolve it.
Sometimes a second person joins the conversation to confirm the first person's account. Two agreeing callers are not two independent checks if both were introduced by the same contact.
The requests that put you at risk
Moving funds to a safe wallet
A caller may say your present account is compromised and that they have created a secure wallet for you. They might describe it as cold storage, an investigation account or a temporary holding address.
The description does not establish ownership. If someone else provides and controls the destination, sending your crypto there can put the assets under their control. Do not make an external transfer on the strength of an unexpected call.
Sharing a password or verification code
The caller may ask for a code to cancel a transaction or confirm your identity. Read the accompanying message yourself: the code may instead approve a login, password change or withdrawal.
Do not relay it to another person. A code that expires quickly can still authorise an action while it is valid. Sharing it is different from entering a code yourself in a verified app for an action you initiated.
Installing software or sharing your screen
The supposed support agent may ask to inspect your device. A remote session can expose account pages, messages and credentials. Pause before installing anything. See Remote Access Scams for how this request can lead to account access.
Concealing the conversation
Someone might claim that speaking to family, your bank or CoinByte would interfere with an investigation. Another tactic is to tell you what explanation to give when asked about a transfer. Independent checks should not depend on the suspected caller's permission.
Why the contact can appear genuine
Personal information may have been exposed elsewhere or shared publicly. A caller may know an email address, phone number or an earlier transaction. That knowledge does not establish that they work for the organisation they name.
Australian authorities have also warned about criminals submitting false ReportCyber reports and quoting genuine reference numbers to make an impersonation convincing. A reference number identifies a report; it does not authenticate the person asking you to transfer assets. Read ASD's ACSC alert on police impersonation and crypto theft.
Do not rely on an official-looking document sent by the caller to verify that same caller. Obtain confirmation through a separate channel.
A fictional example
This scenario is invented and does not describe a CoinByte customer.
Daniel receives a call from someone claiming to be a police investigator. The person knows his email address and says a data breach has placed his cryptocurrency at risk.
A second caller, claiming to represent CoinByte, provides the same reference number and asks Daniel to move his holdings to a protected wallet. Daniel is told to complete the transfer while both callers remain on the line.
Daniel ends the calls. He opens CoinByte independently and asks support to verify the claimed contact. He also uses independently sourced police contact information to check the investigation. The shared reference did not remove the need for these checks.
How to verify someone claiming to be CoinByte
If you are unsure whether contact is genuine, stop the conversation. Open CoinByte's official website or installed app yourself and use its published support options. Describe the caller's claim and the action requested.
Do not use a replacement support page or callback number supplied in the suspicious message. For claims involving police, a bank or a regulator, contact that organisation separately using details you find independently.
CoinByte's is a published starting point for support information. Specific reporting steps should come from verified CoinByte guidance.
And please report to CoinByte Customer Service via Customer Service Email ([email protected]) or type "report Scams" in our chatbot.
If you followed the instructions
Stop further transfers and tell CoinByte what information you shared or which payments you made. Contact your bank if relevant. If remote access was involved, end the session and use a trusted device to seek help.
Preserve existing messages, addresses and transaction records. Follow What to Do If You Think You've Been Scammed. Crypto transfers are generally irreversible once confirmed; reporting promptly does not guarantee recovery.
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