SPRINGFIELD — The Springfield Police Department is issuing an alert to residents about an increase in cryptocurrency scams, highlighting a concerning trend where individuals are directed to a cryptocurrency machine to transfer funds to scammers.
Authorities have received multiple reports of scammers contacting residents, demanding payments in cryptocurrency or bitcoin.
The police urge anyone who receives such a call to immediately hang up and report the incident.
In response to these scams, the Federal Trade Commission has provided several tips to help individuals avoid falling victim to crypto fraud.
The FTC emphasizes that legitimate businesses do not demand cryptocurrency as payment, and any such demands are a definite red flag for a scam.
Furthermore, the commission warns against trusting individuals or entities that guarantee profits or big returns on cryptocurrency investments, labeling these promises as classic signs of fraudulent activity.
The FTC also advises caution with online relationships, particularly when investment advice is involved.
Scammers often use dating sites and apps to lure unsuspecting individuals into cryptocurrency schemes.
If a new romantic interest online suggests investing in cryptocurrency or asks for crypto transfers, the FTC stresses the likelihood of a scam.