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The Missouri State Highway Patrol’s Division of Drug and Crime Control is warning the public about a growing number of cryptocurrency fraud cases reported across the state. Investigators have seen a considerable increase in scams often targeting older adults and other members of the public, resulting in significant financial losses.
Criminals are using the internet, social media, email, dating sites, text messages, end to end encrypted messaging apps and phone calls to convince victims to send money through cryptocurrency, such as Bitcoin, or other virtual currencies. These scams are designed to appear legitimate and frequently rely on urgency, fear, or promises of guaranteed returns. Many times, the victim will be groomed and have established mutual trust with the bad actor before money is requested. If you believe you have fallen victim, or someone suspicious has reached out to you, please notify local law enforcement as soon as possible. Timely reporting can increase the likelihood of prosecution and the possibility of recovering assets.
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Below are a few common warning signs of fraud involving cryptocurrency:
- Pressure to act quickly or claims that immediate action is required to avoid arrest, financial loss, or legal trouble.
- Requests for payment in cryptocurrency, gift cards, wire transfers, Bitcoin ATM (or kiosk).
- Unsolicited contact from individuals claiming to represent government agencies, financial institutions, tech support, or investment firms.
- Promises of guaranteed profits or “risk-free” investment opportunities.
- Instructions to keep the transaction secret, including requests not to tell family members, friends, law enforcement or bank employees.
- Online relationships (romance schemes) that quickly turn into requests for money or investment assistance.
- Requests for personal or financial information sent through email, text message, or social media.
Important Reminders:
- Legitimate government agencies and law enforcement do not request payment in cryptocurrency, gift cards, or wire transfers.
- Time is crucial—report cryptocurrency scams immediately to assist in the recovery of funds.
- Scammers frequently impersonate trusted organizations or individuals to gain credibility with a potential victim.
- If you own cryptocurrency, never share your wallet’s seed phrase—legitimate platforms will never ask for it.
- Always confirm the legitimacy of websites and apps before logging in to your cryptocurrency accounts.
- If someone asks you to withdraw cash and deposit it into a Bitcoin (BTC) kiosk, pause and read the kiosk’s disclaimers carefully, they often include fraud warnings. Make sure the transaction is legitimate before proceeding.
What can you do?
- Take time to verify requests for money or information.
- Talk with a trusted family member, friend, or financial professional before making financial decisions.
- Report suspected fraud immediately to local law enforcement and the Missouri State Highway Patrol.
- Use two-factor authentication (2FA) on all crypto accounts.
- Keep your devices updated and use strong passwords.
The Missouri State Highway Patrol encourages families and caregivers to discuss these scams with older adults and help them recognize the warning signs. Awareness and communication are key to preventing online fraud. The Patrol also encourages anyone who believes they have been targeted or victimized by a scam to contact the Attorney General’s Consumer Protection Hotline at 800-392-8222 or file a complaint online at the Attorney General’s website.
For more information or to report suspected criminal activity, contact your local law enforcement agency or the Missouri State Highway Patrol.
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