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BBB warns consumers about the growing trend of cryptocurrency scams

Erica Dilworth, Director of Operations with The Greater Cleveland Better Business Bureau, spoke about the type of crypto scams that we are seeing here in Ohio.

“We’re seeing that you know, in in a lot of the different scams that we are brought to our attention. Sometimes it’s romance scams, where the person pretends to be in a relationship with that person. We’re also seeing it in, imposter scams. So, someone claiming to be from the IRS or someone claiming to be from another government agency,” Dilworth said.

Although older adults are more likely to be a victim of one of these scams than younger adults, scammers are constantly finding new sophisticated ways to gain peoples trust and money.

“You know, there are certainly those ATM’s where you can go and do a transaction. And sometimes it’s as simple as that. Sometimes people are less kind of aware,” Dilworth said.

Another sign that indicates it is a scammer can be found in their responses. Scammers are often in constant communication with their targets, guiding them through the process until the payment is made.

Some prevention tips include:

• No legitimate business is going to demand you send cryptocurrency in advance of a purchase or to protect your money. If the individual does, this could be an indicator of a scam.

• If you meet someone on a dating site or app and they want to show you how to invest in cryptocurrency or asks you to send them cryptocurrency, this could be an indicator of a scam.

• Before you invest in cryptocurrency, search online for the name of the company or person and cryptocurrency name and also include words like “review,” “scam,” or “complaint” to see what others are saying.

• No legitimate business or government will ever email, text, or message you on social media to ask for money, and they will never demand that you buy or pay with cryptocurrency.

• Never click on a link from an unexpected text, email, or social media message, even if it seems to come from a company you know.

For local services and support for older adults and caregivers, call 1-866-243-5678 to be connected to the area agency on aging serving your community.

If you feel you’ve been the target of a scam, you can report it to the Ohio Attorney General’s Office. If you have lost money or feel unsafe because of a scam, please contact local law enforcement.

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