BELLBROOK — A local police department is warning residents about an increase in Bitcoin scams.
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The Bellbrook Police Department wrote in a social media post that the likelihood of recovering lost money is extremely low.
Scammers typically transfer funds to overseas wallets instantly, which prevents police from retrieving the currency once the transaction is completed, according to the department.
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Bellbrook Police offered these safety tips:
- Do Not Use Crypto ATMs for unknown people: Never deposit cash into a kiosk to transfer funds to someone who called or texted you.
- Use Secure, reputable exchanges: Only use well-known, regulated platforms to purchase or store crypto.
- Never Use Bitcoin for Payments to Unknown Parties: Legitimate businesses, government agencies, or tech support will never demand payment in cryptocurrency.
- Verify Wallet Addresses Carefully: Scammers use “address poisoning” by sending tiny amounts of crypto to make a similar-looking address appear in your history; always verify the full address directly from the recipient.
- Avoid “Guaranteed” Returns: Promises of high, quick returns are always scams.
Contact the Bellbrook Police Department at (937) 848-8484 if you believe that you fell victim to this scam.
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