Americans lost somewhere between $6.5 billion and $9.3 billion to cryptocurrency scams last year. That’s according to a public warning this week by the Johns Creek Police Department.
What’s Happening: The Johns Creek Police Department put the numbers out as part of a broader push to warn residents about how these scams work. The department was blunt about one thing: once the money is sent, it is almost always gone.
What’s Important: Police identified three ways scammers typically make their move. They pitch “investment opportunities” with promises of fast profits. They reach out through messages, either as a stranger or pretending to be someone the victim already knows. Or they ask the victim to move money into cryptocurrency to supposedly “protect” it. Spoiler: there is nothing to protect against except the scammer.
How This Affects Real People: The department offered three rules of thumb. Never send money to someone you have not met face to face. Treat any “guaranteed return” as a guaranteed scam. And when something feels rushed or too good to be true, stop and verify before doing anything.
B.T. Clark is an award-winning journalist and the Publisher of The Georgia Sun. He has 25 years of experience in journalism and served as Managing Editor of Neighbor Newspapers in metro Atlanta for 15 years and Digital Director at Times-Journal Inc. for 8 years. His work has appeared in several newspapers throughout the state including Neighbor Newspapers, The Cherokee Tribune and The Marietta Daily Journal. He is a Georgia native and a fifth-generation Georgian.
- B.T. Clark
- B.T. Clark
- B.T. Clark
- B.T. Clark
