Reports of romance scams and cryptocurrency-based frauds are surging, Nebraska Attorney General Mike Hilgers said Thursday.

The Attorney General’s office has received reports of six-figure losses to cryptocurrency scams, Hilgers said.. Cryptocurrency scammers are encouraging Nebraskans to make small initial investments through fake trading platforms and apps. Then scammers create fake bank statements and documents to convince victims that their investment is growing, enticing them to invest more.

Hilgers said sometimes, scammers first build up a romantic relationship with the victim online, harming them emotionally as well as financially. Once the relationship is established, scammers ask the victim to invest in cryptocurrency.

Individuals in all age groups have been affected, he said. Seniors have been especially targeted.

To avoid crypto scams, never send money to someone online that you have not met in person. If someone asks you to discuss your investment on an encrypted app such as Telegram or WhatsApp, or an unfamiliar website, it is likely a scam.

Crypto scammers will likely promise rewards that sound too good to be true, with little risk.

“These scammers are devastating Nebraskans and, at times, stealing someone’s entire retirement or life savings. I urge Nebraskans to take caution with crypto investments that promise high returns with little risk,” Hilgers said.

 If you are concerned that you have been in contact with a scammer, promptly notify your bank and/or the cryptocurrency exchange provider to try to freeze or trace funds if possible. And, report the scam to the FBI’s Internet Crime Complaint Center (IC3) at ic3.gov.

For more information, contact the Attorney General’s Consumer Affairs Response Team at 402-471-2682 or ProtectTheGoodLife.Nebraska.gov.

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