NY State Police, IRS Warn of Sophisticated Crypto Scams Targeting US Investors

U.S. authorities have issued urgent warnings about two separate cryptocurrency scams targeting American investors. The New York State Police and IRS Criminal Investigation have separately alerted residents to potential threats.

The NYSP advisory warns of con artists cold-calling individuals, building rapport before steering them toward fraudulent platforms that mimic legitimate investment sites. Once a relationship is formed, the scammers promote investments in cryptocurrency or precious metals and direct victims to a counterfeit website engineered to look like an authentic trading platform.

When individuals enter their banking credentials into these fake websites, their entire savings become vulnerable to theft. Authorities recommend hanging up immediately and dialing 9-1-1 if the caller attempts to sell cryptocurrency while requesting financial details.

The IRS has also issued a warning about counterfeit Internal Revenue Service letters designed to drain digital wallets and bank accounts. The letters include a QR code that directs victims to a website resembling the official IRS.gov, where individuals are prompted to provide personal information or exchange login credentials.