How to identify impersonation attempts online

Impersonation attempts are becoming more common across messaging apps, email, social media, and financial platforms.

A message might claim there’s suspicious activity on your account. Another might appear to come from a bank, exchange, delivery provider, or support team asking you to confirm details urgently. Some look polished enough to pass as legitimate at first glance.

What makes these scams effective is that they often don’t feel unusual right away. The language is familiar. The branding looks real. Sometimes scammers already have basic personal information sourced from previous data breaches or public records, which can make interactions feel more convincing.

We’re also seeing more sophisticated tactics emerge, including fake support tickets, cloned websites, spoofed phone numbers, and AI-generated content designed to imitate legitimate organisations.

How impersonation scams are designed to create urgency and trust

Many impersonation scams follow a similar pattern. It usually starts with a message, phone call, or email relating to a supposed issue with your account, payment activity, or security settings. From there, the pressure builds quickly.

A user may be asked to click a link to “secure” their account, scan a QR code, share a verification code, or move funds to a so-called “safe” account. In crypto-related cases, scammers may also attempt to obtain wallet information or direct users to fraudulent platforms that mimic legitimate services.

Some scammers switch between phone calls, emails, and text messages to make the interaction feel more credible. Others imitate customer support processes or transaction notifications to reduce suspicion. The goal is usually the same: create urgency before someone has time to properly assess what’s happening.

Warning signs that should prompt extra caution before responding

• While impersonation attempts continue to evolve, some warning signs remain consistent.
• These include:
• contact relating to account activity or payments that you were not expecting
• pressure to act immediately
• requests for passwords, verification codes, or wallet information
• links or QR codes sent through unsolicited messages
• contact details or website domains that look slightly unusual
• If something feels rushed, aggressive, or slightly off, it’s worth slowing down before taking further action.

Simple habits that can help reduce risk online

If you receive a message relating to your account or funds that feels unusual, avoid responding immediately. Go directly to the organisation’s official website or app and verify the request through legitimate support channels instead of relying on the contact details included in the message itself.

Before transferring funds, review wallet addresses and payment details closely. In crypto-related transactions, transfers are generally irreversible once completed. It is also important to remember that legitimate organisations will not ask users to share passwords, private keys, or verification codes through unsolicited communication.

Final thoughts on verifying requests before taking action

Impersonation scams continue to evolve because they rely on something simple: getting people to react before they have time to think. Taking a moment to review messages, confirm requests independently, and double-check payment details can help reduce the risk of transferring funds or sensitive information to the wrong person.

If you receive suspicious communication claiming to be from BTC Markets, avoid responding directly and contact our team through our official support channels to verify the request. You can submit a support ticket via the BTC Markets app or website.

Learn more about how to protect yourself at https://www.scamwatch.gov.au/

Disclaimer: The information provided on this page is issued by BTC Markets Pty Ltd (BTC Markets, we, us, our). The information is general only and is not intended to constitute an opinion or recommendation with respect to its contents. Past performance is not a reliable indicator of future performance. Any reference to past performance is intended to be for general illustrative purposes only. The information cannot be relied upon for any purposes and is not intended to be a substitute for professional advice.

The information does not purport to be complete, accurate or contain all of the information that a person may require to make a decision. It may also contain forward looking statements, which are subject to known and unknown risks, uncertainties, and other factors. We recommend you obtain professional advice before making any decision with respect to the matters discussed in this document. To the maximum extent permitted by law, BTC Markets will have no liability for any loss or liability of any kind: (i) arising in respect of the information contained (or not contained) on this page; or (ii) arising from a person relying on any information or statement contained on this page. The information provided is only intended for recipients in Australia. This information cannot be reproduced without our prior written permission.