A new scam is making the rounds, targeting people who may not be familiar with cryptocurrency. Scammers claim they bought Bitcoin or another cryptocurrency on your behalf—sometimes even years ago—and that it has grown in value. They say they’ll transfer it to you, but only if you first send them money for “fees” or “access.”
One of my clients recently received such a message:
“Someone ‘purchased’ bitcoin for me through Coin Market Cap without my knowledge and has let it grow until now. He tells me he did it to start a trust fund for my son, but I know nothing of bitcoin. He tells me now that if I pay him some money, he’ll tell me how to access it.”
This is a scam! No one can secretly buy cryptocurrency for you and hold it on your behalf without your knowledge. Crypto wallets are tied to specific accounts and private keys – you must know about it and have access from the start.
How to protect yourself from crypto scammers:
- Never send money to someone who promises to release funds to you afterward.
- Remember that legitimate investments require your knowledge and consent.
- If something sounds too good to be true, it probably is.
- Report suspicious emails, texts, or calls to the FTC or your local consumer protection agency.
Stay safe! Your best defense against scams is awareness.
