Kaua‘i Police Warn Public of Cryptocurrency Scam
LĪHUʻE – The Kaua‘i Police Department (KPD) is warning the public, especially kupuna, about a fast-growing cryptocurrency scam.
In this scam, victims are first contacted by scammers posing as friendly individuals, often through social media, phone calls, or text messages. Over time, the scammers build a relationship with the victim and eventually convince them to invest in cryptocurrency, promising high returns. However, the investment is fake, and once the victim transfers their funds, the scammers disappear with the money.
This type of scam, known as a “pig butchering” scam, involves scammers building trust over time to emotionally manipulate victims into making financial decisions.
Family members and caregivers are strongly encouraged to review the following warning signs and safety tips with elderly loved ones.
Warning Signs:
- Unsolicited contact from a stranger, often posing as a potential friend or romantic interest.
- Promises of easy, high returns through cryptocurrency investments.
- Requests to act quickly or keep the matter secret from others.
- Pressure to send money or use unfamiliar cryptocurrency platforms, apps, or machines.
How to Protect Yourself:
- Do not send money or cryptocurrency to someone you’ve only met online.
- Be skeptical of unsolicited messages, especially those from people you don’t know personally.
- Avoid downloading unfamiliar apps or clicking on suspicious links or QR codes.
- Consult with family members or trusted friends before making any financial decisions.
KPD urges all residents to remain vigilant and take the necessary precautions to protect themselves from this ongoing scam. Report any suspicious calls or messages to KPD Dispatch at (808) 241-1711.
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