A sharp-eyed store clerk and a well-timed police visit saved a local woman from losing $4,000 to a Bitcoin scam in South Hadley, Massachusetts.
The woman was stopped when the Cumberland Farms employee flagged the situation to a nearby detective, who intervened just as she was about to finalize the transaction.
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Crypto scams like this are on the rise, and because Bitcoin is nearly impossible to trace, it makes it a go-to for fraudsters.
So, how did she get tricked, and what can you look out for with similar scams?
Eagle-eyed clerk saves woman from fraud
According to the report by WWLP, the incident occurred when a detective entered the Cumberland Farms store and was alerted by a clerk who suspected the woman was being scammed.
The woman explained that she’d been on the phone with a man who instructed her to withdraw $4,000 from her bank and deposit it into a Bitcoin machine inside the store. The scammer had told her to tell anyone who questioned her that the money was for a trip.
The detective intervened just as the woman attempted to create a PIN on the machine. He advised her not to proceed, effectively preventing the scam. The South Hadley Police Department commended the store clerk for their vigilance and quick action in alerting authorities.
If the transaction had gone through, once funds had landed in the scammer’s wallet, it would have been nearly impossible to retrieve them thanks to the irreversible nature of cryptocurrency transactions.
According to the FBI’s Internet Crime Complaint Center (IC3), once a deposit is made, these ill-gotten gains are often moved quickly to accounts overseas, making recovery extremely difficult.
This incident highlights the growing trend of cryptocurrency scams, where fraudsters exploit the anonymity of digital currencies to scam victims. Which is why it’s even more important these days to stay vigilant and exercise caution when dealing with unsolicited requests for cryptocurrency payments.
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Crypto scams are everywhere: top red flags to look out for
Cryptocurrency might be an exciting investment for some, but it also gives fraudsters opportunities to scam unsuspecting people. The red flags are easy to spot if you know what to look for. Let’s break it down.
First: No legitimate company, government agency, or job will ever ask you to pay them in cryptocurrency.
If someone’s demanding you send Bitcoin or any other coin to “protect your account” or “finalize a purchase,” be suspicious. And those crypto “job offers” online? If they ask you to pay to apply or start working, be wary. Real jobs pay you, not the other way around.
If someone promises big returns or “easy money” with zero risk, especially in crypto, walk away. Whether it’s an “investment manager,” a fake celebrity endorsement, or a new mystery token, if it sounds too good to be true, it typically is. Real investing comes with risk, and nobody can guarantee profits.
Do your research. You can use a legitimate resource like Investor.gov to verify that the individual or firm is licensed/registered. You can also check websites like the RED LIST where you’ll find entities not listed with the Commodities Futures Trading Commission (CFTC).
A common thread with most of the crypto scams is that the fraudster will use high-pressure tactics to push you to make quick decisions. A legitimate investment opportunity would allow you to take your time to do your research and carefully consider.
Online romance scams are another way people are getting defrauded. They’ve evolved to where they’re asking you to “invest” in crypto together. If your new online crush is giving you financial advice or asking for cash, it’s most likely fraud.
Crypto scammers are great actors. They’ll pretend to be Amazon, your bank, the IRS, or even your local utility company. They’ll say there’s fraud, a legal issue, or an emergency, but the “solution” always involves sending crypto to some wallet they control. Sometimes they’ll stay on the phone and walk you through it, like the case at Cumberland Farms.
If you suspect you’ve fallen victim to fraud, report it to the U.S. Securities and Exchange Commission, the CFTC and your local law enforcement.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
