A Keystone, Colorado resident recently fell victim to a sophisticated cryptocurrency scam, losing over $6,000 in Bitcoin after fraudsters posing as law enforcement officials threatened arrest for missed jury duty. The Summit County Sheriff’s Office reported that an additional $4,000 transfer was in progress when deputies intervened to prevent its completion.
The scammers also obtained sensitive personal information from the victim during the call. The Summit County Sheriff’s Office reiterated that law enforcement agencies would never request payments to clear arrest warrants via gift cards, wire transfers, or cryptocurrency.
Rise in Crypto Scams Targets Colorado Residents
Similar scams have appeared statewide. In Denver, a woman lost nearly $5,000 in Bitcoin to scammers posing as police officers, who convinced her she had missed jury duty. Believing the claims, she followed instructions to “resolve the warrant” by making a Bitcoin payment through an ATM. When she later contacted the Denver Police, she discovered the scam, though the chances of recovering her funds were slim.
In another incident in Keystone, bank staff successfully stopped an $8,000 crypto transfer after a resident received a similar fraudulent call. Scammers commonly use number spoofing tactics to make calls appear to originate from law enforcement agencies, adding a layer of legitimacy to their deception.
Crypto Crime Surge in Colorado
Colorado has seen a surge in crypto-related scams, with state investigators recording over 1,300 incidents and $81 million in losses in 2023 alone. Ranking 15th nationally in crypto crime cases, Colorado has become a significant target for fraudsters. Earlier this year, the FBI Denver issued a warning about token impersonation scams, highlighting a case where scammers posing as a pastor and his wife misappropriated $3.2 million in cryptocurrency from their Christian community through a fraudulent token, INDXcoin.
Scammers in these cases often adopt aggressive tactics and exploit the irreversible nature of crypto transactions, making it difficult for victims to reclaim their funds once transferred. While most crypto transactions remain immutable, researchers from Stanford University are exploring reversible options for platforms like Ethereum, which could offer some protection against fraud in the future.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
Source: https://changelly.com/blog/colorado-resident-falls-victim-to-bitcoin-scam-via-fake-jury-duty-call/
