Troy Police warn locals about a rise in cryptocurrency scams causing significant financial losses. Officers are distributing warning signs at kiosks to prevent further victimisation. Typical scams involve unsolicited communications claiming debts, leading victims to unwittingly deposit money into cryptocurrency machines, often leading to irretrievable losses. Residents are urged to contact police if they suspect scams.
The Troy Police Department is alerting residents about a surge in cryptocurrency scams that have led to significant financial losses. Officers are deploying warning signs at cryptocurrency kiosks to mitigate further incidents, aiming to protect individuals from becoming victims. Lt. Ben Hancock emphasised the department’s commitment to halting these scams before they can affect more people.
On Tuesday, Lt. Hancock and Detective Carlo Pizzorni distributed informational fliers near cryptocurrency machines linked to scams where victims were coerced into large deposits. The prevalent scam tactics involve unsolicited messages alleging government debts or fines, misleading victims into depositing money into cryptocurrency machines.
Victims receive varied forms of communication, including texts, emails, or phone calls, insisting they owe fines or bonds. These messages direct individuals to cryptocurrency kiosks for payments instead of verified government channels, ultimately leading to financial losses that can jeopardise their personal savings and investments.
In the Troy area, reports indicate a troubling trend, with two to three victims per week falling prey to these scams. Once funds are deposited into cryptocurrency machines, the money is rapidly transferred beyond tracing, sparking concern amongst local authorities. A recent incident highlighted a victim losing $12,500, which was never recovered.
Business owners with cryptocurrency kiosks have also witnessed these alarming occurrences firsthand. Ghazwan Abdal from Troy Original Buscemi’s reported several customers who have succumbed to scams. He supports the installation of police warning signs that ask potential victims crucial questions to help them identify scams before making transactions.
Police urge anyone suspecting a scam to contact them directly for assistance. Lt. Hancock confirmed that officers can either provide in-person verification or offer assistance over the phone to ensure the legitimacy of the transactions.
To protect the community, residents are encouraged to remain vigilant against undue pressure during cryptocurrency transactions.
