Some consumers have lost thousands of dollars in these scams.
Complicating efforts to catch perpetrators of these scams is the fact that it is easy to transfer cryptocurrency to a crypto wallet that is not easily linked with an individual identity.
Attorney General Rokita advises Hoosiers to follow these tips before engaging in any cryptocurrency payments in exchange for products or services:
– Exercise caution. If it sounds too good to be true it probably is.
– Be wary of social media advertisements for real estate listings.
– Only send cryptocurrency to trusted third parties. Search for publicly verifiable reviews or articles involving the recipient.
– Watch for grammatical errors and spelling mistakes in communications or on websites. Many scammers operate scams from overseas while pretending to be based in the United States.