Nevada's Crypto Scam Epidemic: A Warning from the Front Lines
A recent federal jury in Las Vegas convicted businessman Brent Kovar of running a scheme that took $24 million from at least 400 investors. Prosecutors said his company promised returns of 15 to 30 percent and claimed to have hundreds of millions of dollars in Crypto reserves, but it did not.
In the past year, Nevadans reported more than $205 million in Crypto-related losses in 2025, according to the FBI. The state's attorney general and U.S. marshals have also issued warnings about scammers posing as deputy marshals and demanding Bitcoin payments to clear fake warrants.
The scams look different, but the lesson is the same: Once the money is gone, getting it back can be extraordinarily difficult. To avoid falling victim to these schemes, residents should have uncomfortable conversations with family members about financial scams before a crisis occurs.