Cryptocurrency - The Latest Scam!
Cryptocurrency investment scams involve sophisticated, yet phony investment options.
To get you started, those that invest see fantastic returns on their money. This encourages the investor to deposit more money to generate higher returns, that keep going up. In some cases, the victim investor is permitted to withdraw the earnings. This subtle ploy makes them feel comfortable with the phony options and invest more and more money.
Please be cautious and look for these Red Flags:
- Random texts or emails from someone you don't know
- Texts or emails that encourage you to respond - that's the goal!
- The "new friend" avoids phone or video conversations
- Conversations quickly turn to investments - the "new friend" boasts about their investments and how much they have earned
- The "new friend" boasts about houses in several places, expensive cars and exotic vacations
- The "new friend" tells you that you'll be able to do the same with all the money you'll make
- Urges you to invest before it's too late
If you think your account is in jeopardy or you have any questions, please call us!
Tips to stay safe
- Do not respond to suspicious text messages. Don’t even reply by messaging “STOP” or “NO.” Doing so signals that your phone number is active, and your number could be sold to other criminals.
- If you think a text might be legit, contact the purported sender using a phone number you know to be legitimate. Keep in mind that scammers often spoof phone numbers — including in texts — by making it appear that the texter is local or from a legitimate entity so you might be more likely to respond. ·
- Do not click on hyperlinks or attachments in suspect messages. If a friend sends you a text with a suspicious link, check with the acquaintance to determine if he or she has been hacked.
- Take steps to filter unwanted messages or block them before they reach you. Several mobile phone providers allow you to block a sender by forwarding unwanted texts to 7726 (“SPAM”). Check with your provider about this and other blocking options available on your phone, through your wireless provider or using a call-blocking app.
- Never share personal or financial information by text, email or phone call.
My Credit Union.gov
Home Page | MyCreditUnion.gov
AARP Fraud Watch
Learn More About the AARP Fraud Watch Network
Consumer Financial Protection Bureau
Fraud and scams | Consumer Financial Protection Bureau (consumerfinance.gov)