South Brunswick Residents Lost $250K In Cryptocurrency Scams: Police

SOUTH BRUNSWICK, NJ - Over the past several weeks, South Brunswick residents have suffered a combined loss of over $250,000 in cryptocurrency scams, police said.

The suspects in these cases employed various scams including impersonating technology companies, hacking and mimicking corporate emails, soliciting investments into fraudulent companies, and impersonating law enforcement agents, police said.

Each cryptocurrency scam is aimed at getting an unsuspecting victim to convert their money into cryptocurrency and send it to the suspect.

The South Brunswick Police Department has urged residents to remain vigilant as cases of cryptocurrency scams are on the rise.

“No legitimate company or agency ever requests payment in the form of Bitcoin, gift cards, or any cryptocurrency,” Det. Sgt. Timothy Hoover said. “The frauds have targeted victims of all ages so everyone needs to stay alert.”

Here are some steps residents can take:

• Be sure that the websites you are visiting are the official websites for the company you intend to do business with.

• Confirm any requests regarding change in payments via contacting the requester’s trusted telephone number or doing so in person.

• Understand that law enforcement agencies will NEVER ask for money over the phone to settle outstanding warrants or vacate charges against a person.

• If you do wish to make a transaction using cryptocurrencies you must confirm that the intended recipient is aware and trusted as these transactions are irreversible.

• Treat all requests to pay via cryptocurrency with the highest level of scrutiny.

Any individuals who believe they have fallen victim to a similar scam involving cryptocurrency are encouraged to report it to the Federal Bureau of Investigation’s Internet Crime Complain Center (IC3): https://www.ic3.gov/

For more information regarding cryptocurrency and common scams, visit: https://consumer.ftc.gov/articles/what-know-about-cryptocurrency-and-scams

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