KIRKSVILLE, Mo. – Cryptocurrency are digital dollars that aren’t backed by any government.
With few regulations, fraudsters are constantly using it to scam people out of money.
The FBI describes it as one of the most prevalent and damaging schemes in the United States today.
The Missouri State Highway Patrol announced they’ve noticed a growing number of cryptocurrency fraud cases throughout the state.
“It doesn’t matter whether you’re located in a very rural area or a metropolitan area,” said Public Information Officer Sgt. Bradley Germann, with the MSHP. “Cryptocurrency fraud pretty much targets anybody. I believe in 2024 there was over $5 billion lost and there estimating 2025 to be upwards of $17 billion so we’ve seen a considerable increase in the last year alone.”
From email to texts and social media, Sgt. Germann says scammers use a lot of tactics to target victims.
“We see that quite often where individuals that are on dating sites are contacted, befriended on social media,” Sgt. Germann continued. “I know that a lot of us have received those text messages about toll roads or missed court dates or jury duty. Those are all common tactics utilized and there are no legit agencies that are going to accept payment via cryptocurrency.”
Sgt. Germann says if you get any unsolicited messages about cryptocurrency that should be an immediate red flag.
“Know the trends, know the warning signs, just know that there is a legitimate risk out there every time you send money, especially to somebody you don’t know,” Sgt. Germann said. “You shouldn’t be sending money to people you don’t know without verifying what these funds are going to be utilized for.”
Immediately report crypto fraud to law enforcement when it happens.
Sgt. Germann said the longer you wait, the harder it will be for officers to recover the lost funds.