IRS warns crypto holders of fake letters from scammers

The U.S. Internal Revenue Service is warning crypto holders that scammers are mailing counterfeit letters to some taxpayers to steal their digital assets or data. The letters may instruct taxpayers to register for a non-existent "Digital Asset Compliance Portal." The IRS advises against scanning QR codes or responding to calls requesting payment. While phishing scams are common in the crypto industry, the use of physical mail is a new tactic. The IRS has previously communicated with taxpayers about digital assets, and confusion arose last year due to a surge in notices related to crypto reporting. The IRS now requires taxpayers to disclose crypto activity on their tax returns, making its correspondence more familiar. Crypto-related scams remain widespread, with Blockaid reporting that crypto projects lost over 1000000000 dollars to hacks in the first half of 2026, marking it as the most hacked half-year on record. Additionally, physical schemes like "wrench attacks," which involve extortion to obtain crypto, have been reported, with over 50 incidents occurring in the first half of this year, primarily in Europe.

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