(WBRE/WYOU) — AARP Pennsylvania is issuing a warning to consumers about the growing number of cryptocurrency scams.
According to the Federal Trade Commission, consumers lost more than $1.4 billion to cryptocurrency scams in 2024 alone.
AARP says many of these scammers contact consumers through text, email, or social media and promise victims quick profits, romance, or threaten legal trouble.
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The scams often direct victims to deposit money into Bitcoin ATMs. After the funds are deposited and a QR code is scanned, the money is effectively gone.
AARP encourages individuals to look out for red flags such as pressure to act immediately, messages claiming to be government officials asking for cryptocurrency, and unsolicited crypto advice.
AARP says consumers can protect themselves from these scams by researching the individuals requesting payment, contacting their bank or someone they trust if they feel pressured into a transaction, and never sharing sensitive personal information.
