Springfield Police are warning the public about cryptocurrency scams.
Police say they received 53 reports of crypto-scams last year and with victims losing over 1-million dollars.
The Financial Crime Unit has recovered over 100 thousand dollars.
Springfield Police say people should know the signs of a scam.
- 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.
- Urgent demands, limited time offers or pressure to act fast: Scammers create artificial pressure to rush decisions that prey on emotions.
- Requests for advance payment or fees: Especially when payment is requested in cryptocurrency like bitcoin.
- Unsolicited messages from unknown contacts: These may come via text, email, social media, or dating apps.
- Instructions to keep the interaction secret: Isolation is a common tactic used in fraud.
- Impersonation of government agencies, businesses or romantic partners: Fake identities are frequently used to build trust.
- Unfamiliar platforms that block fund withdrawals: Scam platforms may simulate investment growth but prevent access to funds.
- Requests for sensitive information: Never share wallet credentials, remote access, account information or private keys.