Bitcoin and other cryptocurrencies pictured here, on February 14, 2018 are plunging, and two of the world's biggest cryptocurrency platforms have restricted activity as the market meltdown continues apace.
Bitcoin and other cryptocurrencies pictured here, on February 14, 2018 are plunging, and two of the world's biggest cryptocurrency platforms have restricted activity as the market meltdown continues apace.
Dado Ruvic/Reuters
Hawaii Island police are warning the public about a cryptocurrency scam that is targeting individuals via text message.
According to police, some have received text messages from people claiming to be from their financial institution, falsely stating that their bank account has been compromised.
The text message urges the bank customer to transfer their account balance into cryptocurrency, such as bitcoin, until the fraudulent transactions can be resolved.
Customers are then directed to a bitcoin ATM and told to deposit their money, obtain a receipt, and send a picture of the transaction to the person claiming to represent the bank.
The information on the receipt contains account information that scammers can use to electronically steal money from the person’s bank account.
Hawai‘i Police Department want to remind the public that:
Cryptocurrency is 1) not backed by the government and is not an approved U.S. currency; and 2) crypto funds are not regulated and typically are not reversible once removed.
Any fraudulent text messages as described above should be reported to your financial institution, and the police department’s non-emergency line at (808) 935-3311.
