Elmhurst Business Victim Of Crypto Scam: Cops

ELMHURST, IL – An Elmhurst business lost money last week because of a cryptocurrency scam involving a warning that the firm's power would be cut off, local police said.

The police blotter identified the business as Waxthetics Beauty Lounge, 381 N. York St.

On Friday, Elmhurst police were told that the business got a phone call from a person falsely claiming to be a ComEd representative. The business was informed that the electricity would be turned off unless the business sent $780 in bitcoin immediately, police said.

Police said the business sent the cryptocurrency to the scammer; such transfers cannot be saved from loss.

Scammers regularly contact victims on the phone and online, scaring them into sending cryptocurrency. Elmhurst police said they have seen losses in the thousands of dollars.

"The scams sound dire: a loved one stuck in jail needing bond, an unpaid utility bill, an online love interest in need of funds, a too good to be true investment opportunity," the police department said in a news release. "Bottom line, if someone you don't know reaches out by phone or online requesting an immediate payment through a cryptocurrency like Bitcoin, then it's a scam. Don't fall for it!"

Any legitimate payment can be paid through a credit card. But scammers know the victim can cancel and dispute such transactions, so they want their money in cryptocurrency because it's irretrievable, police said.