Police in the U.K. have warned consumers of a scam targeting users of Vinted and other online marketplaces.

Durham Constabulary, based in north-east England, reported a warning from the North East Regional Organized Crime Unit (NEROCU), who said the fraud had so far cost victims in the region GBP2,600 ($3,263 U.S.).

“The scam involves victims trying to retrieve funds after a failed transaction,” cautioned Durham Constabulary in a Facebook post.

“They are then contacted by a fake ‘Vinted’ chatbot and advised to open a new Revolut account to resolve the issue. They are told to add money to activate the account so the previous amount can then be retrieved. Once the victim does so, the scammers then remove all the funds from the Revolut account.”

The police force advised consumers to “stop and take time to assess any situation that involves transferring money or giving personal information to anyone. No genuine site or agency will pressure you to make a decision or transfer money.”

It added, “If you have concerns or doubts, close the site or app and open it again from a trusted source to ensure you’re speaking to a legitimate person.”

Durham Constabulary urged victims to come forward to allow the police and their partners to work together to combat fraud. Consumers can find help and advice, and report fraud, at the Action Fraud website, it said.

“NEROCU officers also work with banks and community groups to educate staff and the public around spotting the signs and how to report it,” added the police.

The Vinted Group last week announced its first annual profit, reporting adjusted EBITDA of €76.6 million ($81.6 million) and a net profit of €17.8 million in 2023, compared to a net loss of €20.4 million in 2022.

Vinted was established in 2008 by Milda Mitkute and Justas Janauskas. With offices in Lithuania, Germany and the Netherlands, it operates in close to 20 markets in Europe, as well as in the U.S., and has more than 1,800 employees.

The Lithuania-based company has been expanding aggressively in Europe. However, in December, it announced that it would shut down its site in Canada, which had been launched in 2021.

In May 2021, Vinted closed an investment round that valued it at €3.5 billion. Investors in the company include EQT, Accel, Burda Principal Investments, Insight Partners, Lightspeed Venture Partners and Sprints Capital.

Print Friendly, PDF & Email

Related Articles