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Cryptocurrency. (Shutterstock)
GILLETTE, Wyo. — Gillette police are investigating after a woman said she lost nearly $9,000 through a scam regarding cryptocurrency, a police official said this morning.
A 40-year-old woman reported at 2:27 p.m. Aug. 25 from Gillette that she lost $8,785 after a female suspect recommended that she invest in cryptocurrency through a website called Elite Capitals Live, which appears to be fraudulent, Gillette police Capt. Jason Marcus said Aug. 28. The woman’s money was transferred to a broker and when the woman attempted to withdraw money, they asked her for additional money, which she believed to be fraudulent.
Gillette police detectives were notified.
According to the Federal Trade Commission, cryptocurrency, a type of currency that typically only exists electronically, is held in an account is not insured by the government. Some scam artists are targeting people through situations that involve cryptocurrency, like an “investment manager” scam. In that scam, an “investment manager” contacts an individual, promising to grow their money if the person buys cryptocurrency and transfer it into their online account.
“The investment website they steer you to looks real, but it’s really fake, and so are their promises. If you log in to your ‘investment account,’ you won’t be able to withdraw your money at all, or only if you pay high fees,” the FTC’s tip pages said.
The FTC’s other tips for consumers to avoid cryptocurrency scams include the following:
- Only scammers will guarantee profits or demand people pay in cryptocurrency.
- Anyone on a dating site or app who is giving advice on how to invest in crypto or asks for crypto is likely scamming the fellow dating site user.
- Scammers might impersonate businesses, government agencies, romance partners or celebrities.
- Anyone who makes an investment should ask questions about where their money is going, as honest investment managers or advisors want to share that information.
- Search for the name of the company or person and the cryptocurrency name and terms like “review,” “scam” or complaint” to find out more.
- If a company has begun using cryptocurrency, there will be widespread reports about that new business practice.
- Free money promises are fake.
- Scammers might try to recruit people to sell or mine cryptocurrency or help convert cash to crypto, if the person pays a fee in cryptocurrency.
- Don’t click a link from an unexpected text, email or social media message.
- Never pay a fee to get a job.
- Anyone who receives a threat saying someone has embarrassing or compromising photos, videos or personal information about them and threatens to publicize those items unless they’re paid in cryptocurrency should report the incident to the FBI immediately.
To report fraud and other suspicious activity involving cryptocurrency, contact the FTC at ReportFraud.ftc.gov, the Commodity Futures Trading Commission at CFTC.gov/complaint, the U.S. Securities and Exchange Commission at sec.gov/tcr, the Internet Crime Complaint Center at ic3.gov/Home/FileComplaint and the cryptocurrency exchange company that was used to send the money.
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