Over $750K In Cryptocurrency Losses Reported Amid Scams In Naperville

NAPERVILLE, IL — Police in Naperville are urging residents to stay vigilant after they say they have gotten reports of more than $750,000 in cryptocurrency fraud since the end of February.

Four cases were reported in March as of Tuesday, involving residents between the ages of 43 and 83. According to police, scammers used different tactics in each incident, including hacking, romance scams, arrest scams and "sextortion."

"It’s unnerving to think about how convincing these scammers can be. They really play on people’s emotions, whether that’s love or fear or something else," Naperville Police Chief Jason Arres said in a statement.

Arres added, "I hate to suggest that people not trust others, but that’s exactly what you should do when someone you’ve never met in person wants you to send them money. No matter how convincing they are or how well you think you know them, if you haven’t met them in person, that should be a red flag."

Naperville police advise the following to help protect yourself against becoming the victim of a cryptocurrency scam:

• Avoid sharing personal information for unexpected requests
• Avoid acting immediately in response to requests
• Discuss potential scams with a trusted person before responding
• Avoid requests to pay solely with cryptocurrency, gift cards or wire transfers
• Police also suggest avoiding depositing an unknown check to give someone cash

Arres cautioned, "We want people to remember that if someone you haven’t met is asking or demanding that you immediately pay them with cryptocurrency, a wire transfer or a gift card, don’t do it."