NYSP Warns of Growing Cryptocurrency Scam Targeting New Yorkers

New York State Police have issued a warning about a growing financial scam involving fraudulent cryptocurrency and the purchase of gold bars or coins. According to Trooper Lynnea Crane, scammers are using sophisticated tactics to convince victims to liquidate their savings, withdraw large sums of cash, or purchase gold with false promises.

The warning comes as cryptocurrency markets have seen significant fluctuations in recent years, with over $550 billion wiped from the total market capitalization in 2018. Scammers may be taking advantage of this volatility to target unsuspecting investors.

If you believe you've been targeted by scammers, Trooper Crane advises stopping communication and reporting the incident at www.ic3.gov. Contact New York State Police or a local law enforcement agency immediately for assistance.