Phantom Hacker Scam

phantom hacker in a hoodie on a computer screeen

The Phantom Hacker Scam is a sophisticated fraud where criminals impersonate tech support, bank representatives, or government officials to trick victims into believing their computer or bank account is compromised, often by an alleged foreign "hacker."   These scammers ask victims to turn their assets into GOLD BARS to protect their funds from this so-called Phantom Hacker. Once the victim purchases the gold bars, they are told an Agent acting as a courier will meet them and pick up the gold to take it to a "secure location." Once the exchange is made, couriers take off with the gold, and the victim has now lost their financial assets to the scam. This scam is a form of the  Imposter Scam. 

gold bars

  • Unexpected Calls: Receiving unsolicited calls or emails from "tech support," "bank representatives," or "government officials."
  • Urgency and Fear Tactics: These so-called agents say your retirement or other important financial accounts have been hacked and must be safeguarded. 
  • Unusual Transactions: Fraudsters tell the victim to convert funds into gold bars, Gift Cards, and Other Untraceable Payment Methods. Genuine businesses and government agencies never ask for payment by these methods, and any such request is a sure sign of fraud. 
  • An alleged Federal Agent courier will meet them at a specific location to pick up the gold.
  • Requests for Unusual Documentation: The caller insists on photos of the gold bars and the receipts for their purchase.

stop sign

  • S: STOP – Scrutinize the correspondence and look for red flags that may indicate a scam.
  • T: TIME - Scammers will focus on this action being time-sensitive, so take your time to verify the request's legitimacy.
  • O: OBJECT – No law enforcement agent, whether Federal, State, or Local, will contact you asking to safeguard your assets, let alone turn them into gold bars.
  • P: PAUSE - Contact your local law enforcement agency to verify all information before committing to anything. 
  • Stay Informed: Keep up-to-date with common scam tactics and remain vigilant.
  • Report to Authorities: File a report with local law enforcement, the FTC (Federal Trade Commission),  the government agency or organization the con artist claimed to represent, and your financial institutions. See Fraud Reporting.
  • Change Passwords: Immediately change passwords for all accounts you may have revealed to the scammer.
  • Cease Contact: Stop communicating with the scammer to prevent further damage.
  • Monitor for Fraud: If the scammer obtained your personal or financial information, check your bank and credit card statements and consider placing a fraud alert on your credit reports. For more on how to do this, see Identity Theft. 

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