SOUTH PORTLAND — In light of a dramatic increase in bitcoin-related fraud, the South Portland Police Department is raising the alarm and urging the public to inform vulnerable community members about the prevalence of cryptocurrency scams.
The FBI’s 2023 report revealed that nearly 70,000 people in the U.S. filed complaints about bitcoin fraud, marking a 45% surge from the previous year.
Victims have collectively lost an astounding $5.6 billion to these deceptive practices.
With South Portland experiencing a spike in such reports, authorities anticipate the 2024 figures will reflect an even greater escalation.
In an effort to prevent further victimization, the police department is emphasizing that government agencies will never solicit bitcoin for fine payments, use the threat of arrest to demand cryptocurrency, or instruct individuals to deceive their banks.
These tactics are hallmarks of scammers who, according to the department, are highly skilled and professional in their criminal pursuits.
The police also note the complexity of investigating these crimes, as most are conducted internationally and involve digital currency, which poses significant challenges in tracking and prosecuting the offenders.
The best tool against these scams, the department states, is proactive awareness.
Residents are encouraged to share this information with older family members and neighbors to build a community-wide defense against these predatory tactics.
The South Portland Police Department stresses the importance of staying informed and vigilant to protect oneself and others from falling victim to these sophisticated scams.
