Gloucester Twp. Seniors Lured Into Crypto Scams: Police

GLOUCESTER TOWNSHIP, NJ — An "alarming" number of Gloucester Township senior citizens have fallen victim to scams, police said, with one of the latest ploys involving cryptocurrency.

During such scams, the victim gets lured into paying the perpetrator in cryptocurrency at Bitcoin ATMs or similar machines, police said.

Cryptocurrency (or "crypto") is a digital currency that typically only exists electronically. It can typically be bought or exchanged through a phone, computer or cryptocurrency ATM. Bitcoin and Ether are well-known cryptocurrencies, but there are many others, with new cryptocurrencies continually developed.

"Only scammers demand payment in cryptocurrency," says the Gloucester Township Police Department. "No legitimate business is going to demand you send cryptocurrency, especially if they claim to be from Medicare, Tech Support, Geek Squad, Norton Antivirus, Amazon, or a financial institution."

Here are a few things people should know, according to the Federal Trade Commission (FTC):

• No legitimate business or government will ever email, text or message you on social media to ask for money. And they will never demand that you buy or pay with cryptocurrency.
• Never click a link from an unexpected text, email or social-media message, even if it seems to come from a company you know.
• Don't pay anyone who contacts you unexpectedly and demands payment with cryptocurrency.
• Never pay a fee to get a job. If someone tells you to pay upfront for a job or says to buy cryptocurrency as part of the job, it's a scam.

Visit the FTC's website to learn more about crypto scams and how to avoid falling victim.