Cryptocurrency scams are on the rise, according to a recent report. Detective Nezar Hamze of the Anderson County Sheriff’s Office (ACSO) has investigated 15 cases of cryptocurrency fraud. This is double the number of cases ACSO expects to see in 2023.

Hamze explained that these scams are becoming increasingly sophisticated, often starting with a phone call or pop-up message on a computer. The scammers’ ultimate goal is to get victims to withdraw money from their accounts and deposit it into a Bitcoin ATM or other cryptocurrency machine.

Once the money is deposited, it is gone in an instant, and there is no way to retrieve it. Hamze warns against falling victim to these scams and encourages people to only engage in legitimate business transactions.

The scammers, who are typically located in other countries, often pose as government officials and use threats of legal action or arrest to pressure victims into transferring their money. They are skilled at making their calls seem legitimate, and may even spoof their phone numbers to appear more convincing.

In some cases, the scammers claim that the victim has won a sweepstakes or other prize, but must pay taxes before receiving the full amount. They may also use pop-up messages on a victim’s computer, claiming that their account has been hacked and they need to withdraw their funds and convert them to cryptocurrency for security purposes.

Hamze advises people to hang up immediately if someone on the phone is requesting cash, and to report any suspicious activity to their local police or sheriff’s department. It is important to stay vigilant and not fall for these scams, as they can lead to significant financial losses.