Bitcoin Scam Costing Folks Millions, Warns Northampton Twp. Police

RICHBORO, PA — The Northampton Township Police Department is warning residents to beware of bitcoin scams now making the rounds.

When you see the words "investment opportunities" in the Facebook Marketplace or in an email, ignore it and delete the message. "These 'investment opportunities' have recently been wiping out bank accounts," police said.

"The next time you see an ad or message asking you to withdraw money and deposit it into a BITCOIN ATM, delete the message and thank us later," police said in a Facebook posting.

Over the past few months, police said the department has taken reports totaling millions of dollars in losses. "Victims were sold on the idea that if they contributed, they could double, if not triple their initial investment.

"Generally, the scammers will ask you to withdraw money from your bank and then send you a QR code," police said. "The QR code is a crypto wallet address that they want you to send the money to. They will instruct you to go to a gas station or a local convenience store that has a BITCOIN ATM and send the money to the address. Once the money is sent, it is very difficult, if not impossible to get it back," police said.

Usually, the targeted audience is the senior population, police said. "So we are asking that when you talk to your mom and dad, grandmom or grandpop, or even your neighbor, share this information," police said. "Many who fall victim to the scam are in denial, thinking they will get their investment back and then some, but as the saying goes, 'If it's too good to be true, it
probably is,'" police said.

For any other questions, call the police department at 215-322-6111. "We would rather take a
few minutes and explain the scam rather than having you fall victim to it," police said.