Scammers Increasingly Demand Cryptocurrency to Carry Out Money Transfer Scams

Cryptocurrency is the preferred payment method for scammers carrying out money transfer scams.

Scammers pose as law enforcement or government agents, claim your accounts show criminal activity or fraud, and tell you to move your money to protect it.

They provide Bitcoin ATMs or QR codes to deposit money, but cryptocurrency offers no actual protection and they steal your savings.

Never move or transfer money in response to calls claiming your accounts are compromised or money is at risk.

Verify caller credibility directly with your own bank, broker, or advisor using official contact info, not numbers provided by the caller.