Ohio Authorities Warn of Rise in Crypto Scams Targeting Older Adults – Cryptopolitan
The Ohio Narcotics Intelligence Center (ONIC) and the Ohio Department of Aging have issued a public warning regarding an increase in cryptocurrency scams targeting older adults. ONIC discovered these exploits while conducting drug-related investigations, prompting them to work with the Ohio Department of Aging to raise awareness of this issue.
Cryptocurrency is a form of digital currency that functions like coins and paper money, and fraudsters use it as a payment method or to send and receive money. Bitcoin and Ethereum are among the most widely used types of cryptocurrencies. Fraudsters usually establish constant communication with their targets, guiding them through the process until payment is made.
Older adults are particularly vulnerable to cryptocurrency scams. Scammers often use different tactics, including romance scams, government scams and grandparent scams. In romance scams, the scammer builds a relationship with the target either online or over the phone before asking for financial help.
In government impersonation fraud, the fraudster pretends to be from a government agency and threatens arrest if immediate payment is not made. Meanwhile, in grandparent scams, the scammer poses as the target’s grandchild and asks for immediate financial help.
Ohio Department of Public Safety Director Andy Wilson emphasized the danger of these scams targeting elderly Ohioans. ONIC’s analysts and digital forensics personnel are highly trained and experienced in helping law enforcement connect the dots in these complex cases. They recommend that anyone who believes they have been victimized by these scams should seek help and resources immediately.
Ohio Department of Aging Director Ursel J. McElroy urged older Ohioans and their loved ones to stay up-to-date on the latest types of scams, learn about their evolving tactics and share this knowledge with friends and family to help prevent them from being victims of such fraudulent schemes. She also advised checking your accounts regularly to ensure there are no unauthorized charges.
A key indicator of a cryptocurrency scam, according to McElroy, is when a legitimate business or government asks for money through cryptocurrency. She stressed that no legitimate entity would ever require customers to buy or pay with cryptocurrency, or email, text or message on social media to request money.
Also, if someone on a dating site or app tries to show you how to invest in cryptocurrency or asks you to send them cryptocurrency, that could be a warning sign of a scam. McElroy urged Ohioans to do thorough research online before investing in cryptocurrency, using keywords such as “review,” “scam” or “complaint” in conjunction with the name of the cryptocurrency and the company or person offering it.
