Secret Service Issues Cryptocurrency Warning to Texas

Secret Service Issues Cryptocurrency Warning to Texas

( – Since cryptocurrency came into existence over a decade ago, Americans have been trying to wrap their heads around this strange digital form of money. However, cybercriminals are now using citizens’ lack of knowledge about currencies like Bitcoin and Ethereum to scam them, leading to millions of dollars in losses each year according to the Secret Service and FBI.

On Thursday, March 24, the Better Business Bureau hosted a news conference with Secret Service Resident Agent William Mack and an attorney from the Federal Trade Commission. During the event, Mack told listeners cybercriminals are targeting people specifically in East Texas with romance scams, tech scams, and arrest warrant scams.

These professional scammers start by building a relationship with their victim, often an elderly person, then using the relationship to demand money, often using love or fear as a motivating factor. NAORCA Worldwide (National Anti-Organized Retail Crime Assn) dedicated to helping businesses reduce theft, shared more about this warning on Twitter:

To protect yourself against such scams, it’s essential to keep your digital wallet secure. To do this, ensure the company you purchase cryptocurrency from is legitimate and don’t pay for any products using cryptocurrency. Be careful about anyone who claims to have a get-rich-quick cryptocurrency scheme, as these are often misleading or false. Remember, you’re the first barrier of protection when it comes to keeping your wallet safe.

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