Gold Extortion Scam Alert: Scammers Forcing Victims to Buy and Ship Gold

- August 28, 2025 -

A dangerous new scam is making its way through the gold buying industry — one that uses fear, intimidation, and technology to pressure victims into sending large amounts of gold to scammers.

At Jack Hunt Gold & Silver, we’ve learned of multiple cases where scammers are successfully exploiting victims through a disturbing scheme:

This scam first came to our attention when we began receiving multiple phone calls from retail customers requesting kilo gold bars; a product rarely purchased by individuals. In just a few months, four separate inquiries of this unusual kind signaled that something was off, helping us identify the pattern behind the scam.

How the Scam Works

1. Computer Takeover Claim: The scammer contacts a victim and claims they have control over the victim’s computer.

2. Extortion Demand: The scammer demands that the victim purchase and ship large quantities of gold as payment.

3. Threats of Harm: If the victim refuses, the scammer threatens to:

•  Steal sensitive personal data
•  Infect the computer with harmful material (such as illicit content)

4. Compliance Under Pressure: Many victims, unaware that this is a scam, attempt to protect themselves by buying gold and shipping it to the scammer; resulting in significant financial losses.

Why This Scam is So Effective

• Fear of exposure: Scammers exploit victims’ fear of losing privacy or having their devices compromised.
• Urgency: The threats create a sense of panic, leading to quick compliance without verification.
• High-value target: By demanding gold, a universally valuable asset, scammers can quickly convert stolen goods into cash.

How to Protect Yourself

• Do not comply with extortion demands. Scammers rely on fear to force quick action.
• Disconnect and secure your computer. Run a trusted antivirus scan and, if needed, seek professional IT support.
• Contact authorities immediately. Report attempted extortion to your local police department and the FBI’s Internet Crime Complaint Center (IC3).
• Verify before you buy. If you receive an unusual or urgent request to purchase gold, pause and confirm legitimacy.

 Word From Jack Hunt Gold & Silver

“Scammers are masters of preying on victim’s emotions. Often those preyed upon are those who can least afford it. It’s shameful. Awareness is the first line of defense.”

-Scott Hunt, President

We urge our customers, industry partners, and the public to stay alert, educate loved ones (especially seniors), and report suspicious activity.

Jack Hunt Gold & Silver will continue to share updates as new scams emerge to help protect our community.