SPRINGFIELD, Mo. — Local police are warning the community about cryptocurrency scams that are becoming more widespread.
According to the Springfield Police Department (SPD), they received 53 reported cryptocurrency-related scams last year. The losses from those scams totaled more than $1.2 million, but detectives from SPD’s Financial Crimes Unit also recovered $109,389 throughout 2024.
SPD says residents should become aware of common warning signs and red flags associated with these crypto scams. Some of the red flags SPD noted include:
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Promises of guaranteed or high returns: If it sounds too good to be true, it probably is because legitimate investments do not promise risk-free profits.
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Urgent demands, limited time offers or pressure to act fast: Scammers create artificial pressure to rush decisions that prey on emotions.
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Requests for advance payment or fees: Especially when payment is requested in cryptocurrency like Bitcoin.
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Unsolicited messages from unknown contacts: These may come via text, email, social media, or dating apps.
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Instructions to keep the interaction secret: Isolation is a common tactic used in fraud.
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Impersonation of government agencies, businesses or romantic partners: Fake identities are frequently used to build trust.
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Unfamiliar platforms that block fund withdrawals: Scam platforms may simulate investment growth but prevent access to funds.
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Requests for sensitive information: Never share wallet credentials, remote access, account information or private keys.
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“Many victims feel ashamed for falling for a scam and will choose to quietly suffer,” said Financial Crimes Detective Mark Stewart in a news release. “Criminals are very good at what they do. Victims are not alone.”
Anyone who believes they were targeted by a cryptocurrency scam is encouraged to act quickly by reporting the issue at 417-864-1810 or visiting SPD headquarters at 321 E. Chestnut Expwy. from Monday through Friday from 7 a.m. to 5 p.m.
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