Bitcoin Blackmail Scheme Targets Princeton Resident: Police

PRINCETON, NJ — A Princeton resident has come forward as a potential victim in a Bitcoin blackmail scheme, police said on Tuesday. Scammers prey on a victim's fear, imagination and guilty conscience over past transgressions if any.

In exchange for not telling the victim’s spouse, children or extended family about their alleged morally compromising behavior, scammers demand thousands of dollars, the Princeton Police Department said in a Facebook post.

The payoff is handled using the crypto-currency, Bitcoin and is virtually untraceable. Scammers demand their blackmail currency via a professionally written, 4-page letter that alludes to the misdeeds and includes instructions on how to purchase Bitcoin online to complete the transaction.

“Please share this information and be sure to contact police upon your receipt of any suspicious letters as described above,” police said. “Stay safe, Princeton.”

Photo credit: Shutterstock/Julia Tsokur