Crypto scams are on the rise, and scammers are getting more clever. They're targeting people with promises of high returns — don't fall for it!
If someone you don't know contacts you with an investment opportunity, it's likely a scam.
We'll never call or reach out to you about an investment opportunity.
How Crypto Investment Scams Work
Scammers often use social media, online ads or fake articles to promote their tricks.
They might claim to have a way to make you rich quickly or promise high returns with little to no risk. They'll pressure you to act fast, saying that the opportunity is limited or that your earnings are about to rapidly increase.
Warning Signs
- Beware of taking investment advice from strangers.
- Avoid requests to buy cryptocurrency at an ATM.
- Resist pressure to act quickly without verifying information.
- Question promises of high returns or guaranteed investments.
- Check for fake investment platforms.
- Be on the lookout for fake websites that look like your financial institution. Always double-check the URL to see if it’s suspicious.
You wouldn't hand $10,000 to a stranger on the street, so why would you send it to someone you don't know online?
Protect Yourself
Always verify an investment opportunity before agreeing to it. We recommend you follow these steps to stay safe:
- Meet with a certified financial counselor or investment advisor to review the opportunity.
- Research the investment.
- Be wary of investment advice from unknown sources.
- Don't invest money you can’t afford to lose.
- Keep your personal and financial information private.
What to Do If You've Been Scammed
- Contact your financial institution: If you act quickly, they might be able to get help and stop the transaction. If your account with the Credit Union is impacted, please call us at (800) 462-8328.
- Update your passwords: Make sure your payment applications and Online and Mobile Banking accounts are secure with a difficult password.
- Contact the FBI: Submit a report to the Internet Crime Complaint Center (IC3).
- File a report: Contact the Federal Trade Commission (FTC) to report the scam.
- Connect with your local police department: For immediate help and reporting, we recommend you contact your local law enforcement.
Stay aware of these scams and take the right steps to protect yourself from losing money to scammers. Stay alert and stay safe.