Cryptocurrency Scams Worry State Police: Older Adults Targeted

State Police in Livingston County are warning residents, particularly older adults and their families, about a growing financial scam involving fraudulent cryptocurrency investments.

According to a news release from police, scammers are using increasingly sophisticated tactics to convince victims to liquidate savings or purchase gold with the false promise that it will be converted into cryptocurrency or invested on their behalf.

The scammers' methods include convincing victims to withdraw large sums of cash or invest in gold bars or coins, claiming it will be converted into cryptocurrency or invested for them.