Michigan State Police Warn Residents of Bitcoin Scams

Government Agencies Will Never Request Payment in Cryptocurrency

Michigan State Police issued a cautionary message to residents about the increasing prevalence of bitcoin-related scams. They emphasized that no governmental organization would demand payment for fines or tickets in cryptocurrency or gift cards. Cash payments in person will always be an option.

Remain Vigilant and Contact Authorities Directly

If approached by individuals claiming to represent a government body seeking payment in cryptocurrency or gift cards, individuals are advised to reach out directly to the respective agency. Recently, Northville Township Police reported a scam where a resident fell victim to a $300,000 loss.

Rise in Cryptocurrency Scams Nationwide

Nationally, over $5.6 billion was lost to cryptocurrency scams in the preceding year, a substantial surge from previous years. The FBI documented that Michiganders alone lost $79,894,360 to cryptocurrency scams in 2023. Michigan Attorney General Dana Nessel has issued warnings and guidance on avoiding phone scams, available on their website.

Consumer complaints can be lodged on the Attorney General’s website, and further information on recognizing and reporting scams is accessible via the Federal Trade Commission’s website.

Protect Yourself Against Financial Scams

It is imperative to remain cautious and informed about financial scams. By staying vigilant and educated on the tactics used by scammers, individuals can protect themselves from falling victim to fraudulent schemes.

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