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A new Spam Scam is circulating that appears aimed at millennials and those who do much of their shopping on Amazon. High Country Bank (HCB) is warning its customers that the rumors circulating that Amazon either has or is in the process of creating its own cryptocurrency are not true.

Cryptocurrency image. Photo by Art Rachen for unsplash

“There hasn’t been any confirmation from official sources that these rumors are true,” warns an e-message from HCB. “However, the truth hasn’t stopped cyber criminals from taking advantage of these rumors.”

According to HCB sources, including The KnowBe4 Security Team, and, cybercriminals are running social media ads that spoof well-known news sites such as CNBC and Yahoo! Finance. The ads claim that Amazon has opened presales for their “Amazon Token” and link to a fake Amazon website.

The convincing website even includes a roadmap outlining the release of the token, details about Amazon Prime integration, and a countdown to when the presale will end. If you try to buy an Amazon Token, you’ll be sending your money straight to the cybercriminals and receive nothing in return. None of it is true.

HCB is offering these tips to stay safe from similar scams:

  • Before clicking on an ad, hover over the link to preview where the link will take you. For example, one Amazon Token ad led to amz-token[dot]presale-tokens[dot]cc. This address is not a legitimate website, because it is not using the official Amazon[dot]com domain.
  • Watch for poor grammar and misspellings. While the fake Amazon Token website looked great, it had a number of errors, such as “TOKENS AVAILABLEN” and “You can contribute AMZ token go through Buy Token page.”
  • Cryptocurrencies have a range of different origins, structures, and intended uses. Before investing in a coin, do your research about that coin by reviewing multiple well-known and trusted sources.