By KENNEDY GRIFFIN
(Franklin County, MA) Law Enforcement agencies are warning residents of cryptocurrency scams that recently cost two Franklin County residents and a Hampshire County resident lost thousands of dollars.
The details of the scam vary, but usually involve a caller claiming to be a law enforcement officer or a business representative asking the victim to send funds through a cryptocurrency kiosk to fraudulent account. 3 local residents have lost between $9,000 and $14,000 each.
According to the Northwestern DA’s Office, it is “unclear if the victims will be able to get their money back because cryptocurrency payments are not reversible and are difficult to trace.”
“Before last May, I hadn’t heard of any cryptocurrency scams involving kiosks inside convenience stores, and now I’m working with law enforcement on three separate investigations,” said First Assistant Northwestern District Attorney Steven Gagne. “Because these scammers so often target elderly residents, I urge families to talk to their elder loved ones about reaching out for help if they receive communications from anyone urgently asking for or demanding money.”
The Federal Trade Commission (FTC) found that scammers have taken an estimated $133 million in cryptocurrency from victims since 2021. The FTC also reports that while senior citizens are often targeted by scams, those ages 20 to 49 were “more than three times as likely as older people to report losing money to a cryptocurrency scam, often focused on a fake investment offer.”