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in Crypto Investment Scam
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Inside Edition
· 2024-12-11
A Miami doctor's photos were stolen and used in a "pig butchering" romance scam to fraudulently lure wealthy single men on dating sites, resulting in victims losing hundreds of thousands of dollars. The doctor discovered the identity theft when strangers began sending flowers to her workplace and showing up in person, prompting her to publicly warn others on social media about the sophisticated scheme.
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KTVB
· 2024-12-16
"Don't Click December" is an awareness campaign aimed at protecting consumers from online fraud during the holiday shopping season, when scammers exploit increased internet usage for gift purchases and charitable donations. U.S. Attorney Josh Hert advises consumers to be cautious of suspicious emails, text messages, and popups that use fear tactics to trick people into clicking malicious links or providing personal information.
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TV360 Nigeria
· 2024-12-17
In a major enforcement operation in Lagos, Nigeria, the Economic and Financial Crimes Commission arrested 792 suspects involved in cryptocurrency investment fraud and romance scams, including 148 Chinese nationals and citizens from the Philippines, Kazakhstan, Pakistan, and Indonesia. The foreign perpetrators operated from a facility disguised as a corporate office, where they trained Nigerian accomplices using scripts to conduct romance and investment fraud schemes while using the Nigerians' identities to carry out the crimes.
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WION
· 2024-12-17
Nigerian authorities arrested 792 suspects, including 148 Chinese and 40 Filipino nationals, in a raid on a luxury office building in Lagos operating as a cryptocurrency romance scam hub. The operation targeted victims primarily from America and Europe through social media platforms like WhatsApp and Instagram, using fake romantic relationships to lure people into fraudulent cryptocurrency investment schemes. The EFCC seized computers, phones, and vehicles during the raid and is collaborating with international partners to investigate further links to organized crime.
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KHON2 News
· 2024-12-18
The Better Business Bureau identified 12 common holiday scams, with misleading social media ads and imposter websites being the most prevalent. The list includes phishing emails, fake charities, puppy scams, unsafe holiday apps, and counterfeit product sales. To protect themselves, consumers should avoid interacting with unsolicited messages, only shop from trusted businesses, verify website authenticity, report scams to the BBB and financial institutions, and contact local law enforcement if money is lost.
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PBS NewsHour
· 2025-01-04
Pig-butchering investment scams have cost victims worldwide an estimated $75 billion over the past four years, with Americans alone losing $4.6 billion in 2023, through fake romantic relationships that manipulate targets into investing in cryptocurrency on fraudulent platforms. The scams typically begin with a wrong-number text leading to conversation with a fake attractive persona who builds trust over 90 days before pressuring victims to invest increasingly large sums until they lose their life savings. Beyond the financial victims, the scammers themselves are often human trafficking victims forced by Asian organized crime syndicates (primarily Chinese, but including Yakuza and Korean groups) operating from compound cities built specifically to run these
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WGN News
· 2025-01-07
The Better Business Bureau released its top 10 local scams of 2024, with online purchases through fake websites ranking as the #1 threat, followed by phishing scams, employment scams, debt collection scams, and social media shopping scams involving counterfeit products. Consumers are advised to verify companies through the BBB before providing personal or financial information, avoid clicking suspicious links in emails or social media ads, be wary of unsolicited urgent requests, and recognize that legitimate debt collectors must notify in writing before taking action.
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Irish Independent
· 2025-01-14
Romance scams (also called "pig butchering") are surging in Ireland, primarily targeting middle-aged women through dating apps where scammers build emotional relationships over time before requesting money for bills, fees, and expenses. Detective Superintendent Michael Crry of Ireland's National Economic Crime Bureau explains that these online fraud schemes rely on social engineering, manipulation, and exploitation, with recent arrests highlighting law enforcement efforts to combat the crime, which is particularly prevalent during vulnerable winter months when people seek connection.
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Denver7
· 2025-01-20
The City and County of Denver issued a warning about a text message scam falsely claiming recipients had unpaid parking invoices. The scam messages, which appeared official with Denver logos and branding, attempted to collect personal and financial information from residents; Denver's Department of Transportation and Infrastructure confirmed it only notifies residents of unpaid parking tickets by mail, never by text.
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FOX 7 Austin
· 2025-01-27
According to a 2024 Better Business Bureau report, Texans lost over $10 million to scams, with the top five being: cryptocurrency investment scams (averaging $4,600 loss, primarily affecting ages 55-64), employment scams ($1.6 million total loss to ages 25-34), online purchase scams ($1.5 million in losses), phishing scams ($550,000 in losses), and additional unreported scams on social media. The report highlights that different age groups face different fraud risks, with older adults targeted for investment schemes while younger adults are more vulnerable to employment-related fraud.
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FOX 2 St. Louis
· 2025-02-06
Romance scams are prevalent and increasingly sophisticated, with the Better Business Bureau reporting a median loss of $6,000 per victim. Scammers create fake profiles on dating sites and social media to build trust over weeks or months before requesting money or pushing cryptocurrency investment schemes, and they now use AI to generate realistic photos and communicate with multiple victims simultaneously. To protect yourself, verify profile photos using reverse image search, trust your instincts if something seems too good to be true, independently research any investment opportunities, and avoid clicking links or sharing financial information provided by potential romantic contacts.
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Eyewitness News ABC7NY
· 2025-02-07
Romance scammers are targeting people seeking relationships online, with the FTC reporting these scams cost Americans $1.3 billion annually. Scammers employ "love bombing" tactics, building emotional connections over months or even a year before requesting money, increasingly through cryptocurrency to remain untraceable. One Connecticut woman lost nearly $1 million to this type of fraud.
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WFMY News 2
· 2025-02-08
Romance scams cost victims over one billion dollars last year according to the FTC, with scammers typically requesting money from online dating prospects around Valentine's Day. The Better Business Bureau notes that victims lose money and experience emotional harm, as scammers are skilled manipulators who build trust before revealing their deceptive intentions. The key to protection is awareness that online romantic interests may not be who they claim to be and vigilance against requests for money from people you have not met in person.
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KFOR Oklahoma's News 4
· 2025-02-15
**Summary:**
Romance scams increase around Valentine's Day, with scammers creating fake online identities on dating apps to build trust and manipulate victims into sending money via gift cards or cryptocurrency or stealing personal information. The Better Business Bureau warns that older adults and lonely individuals are particularly vulnerable targets, and advises people to be suspicious of quick relationship progression, requests for financial help, and unusual payment methods, while encouraging people to check on vulnerable loved ones.
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PBS NewsHour
· 2025-02-16
Online romance scams target victims across all demographics through psychological manipulation, with perpetrators using fake profiles to convince people to invest money, often via cryptocurrency. Investigative reporter Cezary Podkul notes that victims have lost billions of dollars annually, with some individuals losing over $1 million, and that many scam operations are run by Chinese cybercriminal gangs that recruit trafficked individuals. To protect oneself, people should watch for red flags like unsolicited contact offering investments, seek second opinions from trusted friends, and report suspected scams immediately to local police, the FBI Internet Crime Complaint Center, and the U.S. Secret Service to aid law enforcement in tracing funds and identifying additional
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WTRF
· 2025-02-16
Scammers are targeting dating app users by building romantic relationships and requesting money or personal information to invest in cryptocurrency, with the Better Business Bureau reporting approximately $500 million lost to romance scams last year alone. Red flags include requests to convert cash, checks, or gifts into Bitcoin or other cryptocurrencies, and scammers typically delete their accounts and block victims once money is obtained. Experts recommend immediately stopping contact with suspicious individuals and reviewing personal finances for any unauthorized transactions.
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KOBI-TV NBC5
· 2025-02-20
The Josephine County Sheriff's Office has reported a rise in Bitcoin scams targeting local residents, with scammers impersonating financial institutions, individuals in need, or law enforcement to trick victims into purchasing cryptocurrency at ATMs located in convenience stores. Scammers obtain personal information online and use it to pressure victims into transactions with digital currency that is difficult to trace. The Sheriff's Office urges anyone suspecting fraudulent activity to report it to the Federal Trade Commission and to hang up on suspected scammers.
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FOX 13 Seattle
· 2025-02-21
Tax scammers become increasingly sophisticated during tax season, using social media, texts, and emails to target taxpayers with false promises of faster refunds, claims of missed payments, or guarantees of larger refunds. To protect yourself, avoid clicking unrecognized websites, be wary of emails, texts, or calls claiming to be from the IRS (the real IRS does not demand urgent action with tight deadlines), and recognize that most tax-related offers on social media are scams.
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CBS TEXAS
· 2025-02-26
U.S. senators introduced legislation to combat Bitcoin ATM scams targeting older Americans, following investigations into the use of these machines by scammers. An 80-year-old victim lost $55,000 after falling for a "jailed son" imposter scam directing him to send cryptocurrency through a Bitcoin ATM; once the transaction completed, the funds could not be recovered. With over 4,000 Bitcoin ATMs operating in Texas alone, the proposed bill aims to establish safeguards and accountability measures to protect consumers from these increasingly common schemes.
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NBC Chicago
· 2025-03-01
Naperville police warned residents of scams targeting the community, reporting that residents lost $5.5 million to scammers in one year, with victims ranging in age from 15 to 91 years old. Common scams included cryptocurrency fraud, fake warrant phone calls, tech support scams, online retail scams, and phishing, with scammers often impersonating the IRS, Medicare, tech companies, or financial institutions and pressuring immediate payment via gift cards or wire transfers. Police advised residents to block unwanted calls, resist pressure to act immediately, consult trusted contacts before responding to strangers, and contact their bank and credit bureaus if they believe they've been scammed.
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National Geographic
· 2025-03-02
Investigative journalist Mariana Van Zeller explores cryptocurrency "rug pull" scams, where fraudsters create fake crypto tokens to steal investor money—a scheme that victimized people of nearly $3 billion in 2021 alone. The episode follows Van Zeller's investigation into young, wealthy scammers who exploit cryptocurrency's unregulated decentralized finance space, and features interviews with victims like Xavier, who lost money across multiple rug pull schemes with no recourse in the largely lawless crypto market.
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wgaltv
· 2025-03-06
The Better Business Bureau's 2024 Risk Scam Report identifies investment/cryptocurrency scams, employment scams, and romance scams as the top three riskiest scams based on exposure, susceptibility, and monetary loss. While the likelihood of experiencing a scam loss decreased 15% year-over-year, the median loss per victim increased 30% to $130, with seniors age 65 and older and young adults age 18-24 reporting the highest median dollar losses, and Publisher's Clearing House impersonation being the most common scam tactic.
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WBNS 10TV
· 2025-03-09
A Central Ohio man lost over $42,000 in a romance scam involving cryptocurrency investments after meeting a woman on Facebook who convinced him to invest in her crypto business. The scammer used fake investment screenshots showing growth to encourage continued payments before disappearing with his money, personal information, and Social Security number. The Better Business Bureau reports that crypto investment scams facilitated through online relationships are increasingly common in the Central Ohio area.
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19 News
· 2025-03-13
According to a 2024 Better Business Bureau report, cryptocurrency and investment scams ranked as the leading consumer fraud scheme, with victims losing anywhere from $5,000 to over $1.3 million in individual cases. Scammers exploit people's desire for easy money by posing as investment advisors and falsely promising tenfold returns on deposited funds. The BBB advises consumers to be cautious of anyone offering seemingly easy investment processes and recommends reporting suspected scams.
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FOX23 News Tulsa
· 2025-03-17
The Better Business Bureau's 2024 Scam Tracker Risk Report identifies the five riskiest scams targeting consumers. Cryptocurrency investment scams rank first, with 80% of victims losing an average of $5,000 through pressure to trade or store funds on fake exchanges; other high-risk scams include employment fraud (fake job offers requesting personal information and payment for training), romance scams (where victims send money to fabricated relationships), and scams using fake checks or overpayment schemes. Scammers continually adapt traditional fraud methods with new twists to exploit victims.
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WWLP-22News
· 2025-03-21
Beverly police recovered $21,000 for three senior residents (ages 80, 83, and 90) who were victims of Bitcoin ATM scams, after obtaining warrants to seize the machines used in the fraud. Police Chief John Leecher emphasized that quick reporting was critical to the recovery, as these machines are typically emptied daily, and noted that another officer recently prevented an elderly man from losing $4,000 in a similar scheme.
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CNBC Television
· 2025-03-25
Tax season is a prime time for fraud, with Americans losing $9.1 billion to tax fraud and financial crimes in 2024 according to the IRS. Scammers target individuals filing taxes to steal identities, usernames, passwords, and access to financial accounts and tax prep software. To protect yourself, the IRS recommends setting up an identity protection PIN, using strong unique passwords, enabling two-factor authentication, and regularly monitoring or freezing your credit.
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WIRED
· 2025-03-28
A WIRED article examines romance scams through the story of a victim who lost $300,000 after meeting someone on the dating app Hinge who posed as a cryptocurrency entrepreneur and convinced her to invest her savings and IRA funds. The piece explores how scammers use dating platforms to build trust over weeks or months before exploiting victims financially, and notes that romance scams are among the most personally and financially damaging online fraud schemes, with perpetrators constantly evolving their tactics.
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Eyewitness News ABC7NY
· 2025-03-28
**Cryptocurrency Scam Awareness**
Scammers stole approximately $9.9-$10 billion in cryptocurrency in 2024, exploiting the 72 million American crypto users through low-tech methods including phishing (impersonating trusted firms), romance scams (building fake relationships to encourage crypto investment), and rugpulls (fraudsters promoting fake tokens then disappearing with funds). Understanding these common scam tactics helps protect investors from becoming victims.
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ABC15 Arizona
· 2025-04-01
During tax season, scammers employ three main tactics: fraudulent text messages falsely claiming stimulus check eligibility and requesting personal information through fake links; misleading social media posts offering illegal tax advice to "beat the system" using W-2 forms; and imposter "offer in compromise" schemes that charge fees to help people avoid tax debt, when the IRS program is actually free. Consumers should be aware that the IRS never initiates contact via text, all stimulus payments have been issued, and legitimate tax relief assistance does not require upfront fees.
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KETV NewsWatch 7
· 2025-04-04
Two brothers in their 70s in Lancaster County lost $1.3 million in a cryptocurrency online trading scam, while another victim lost nearly $50,000 over six months in a similar scheme. Law enforcement reports multiple cryptocurrency scams in the area this year resulting in substantial losses, with funds often transferred overseas, making recovery unlikely. Officials recommend exercising caution when investing online, particularly with unfamiliar people or platforms, and suggest consulting the FBI's website for more information.
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WLWT
· 2025-04-11
A 73-year-old Delhi woman lost $41,000 in a cryptocurrency scam that began with a pop-up warning claiming her computer was hacked. The victim called what she believed was Microsoft support but was actually a scammer who convinced her to withdraw cash and convert it to Bitcoin at an ATM. After she reported the fraud, investigators were able to freeze the transfers and recover $35,000 of the stolen funds.
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KPAX-TV
· 2025-04-11
A Helena, Montana resident nearly fell victim to an impersonation scam when a caller posing as a sheriff's office representative threatened arrest for missed jury duty and demanded $5,000 payment. The victim avoided losing money by contacting his bank, Opportunity Bank of Montana, whose employees verified the scam and confirmed the fraudster had spoofed the sheriff's department's phone number. The transcript emphasizes common tactics scammers use—fear and urgency—and recommends pausing to verify information before responding to suspicious communications.
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Al Jazeera English
· 2025-04-18
Romance scams are rising significantly, with the Federal Trade Commission reporting that approximately 70,000 people across the US fell victim to fake virtual romances in 2022 alone, resulting in $1.3 billion in losses. Scammers use fake profiles with AI-generated images to pose as attractive individuals on social media platforms like Facebook, targeting victims emotionally before requesting money. Gen Z is among the biggest targets of these scams, yet victims are often blamed and reluctant to speak openly about their experiences.
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CNA Insider
· 2025-04-19
Chinese exchange students studying abroad have become targets of a "cyber kidnapping" scam in which scammers send fake images of tied-up or injured victims to families and demand ransom payments—sometimes exceeding $1 million—while threatening to harm or sell the student's organs. The scam uses internet-based psychological manipulation rather than physical abduction, and has affected multiple Chinese international students globally, including cases like 17-year-old Kai Chuang who went missing in Utah in December 2023. Law enforcement warns that these crimes are difficult to prevent or resolve, as scammers operate with little accountability and families face impossible decisions when unable to verify their loved one's actual location or safety
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NBC New York
· 2025-04-29
A Queens man lost more than $123,000 in a cryptocurrency romance scam after being contacted by someone posing as "Angela" who built a romantic relationship with him via text over two weeks. The scammer convinced him to invest in cryptocurrency through a fake trading website that falsely showed growing returns, gradually persuading him to wire transfer increasing amounts ($500, $20,000, $38,000, $46,800, and $18,000) before he became suspicious. Cryptocurrency romance scams are identified as one of the fastest-growing fraud schemes targeting victims through romantic manipulation.
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Dayton 24/7 Now
· 2025-05-13
Millions of elderly Americans fall victim to financial scams annually, with the most common targeting seniors being investment/cryptocurrency scams, home improvement scams, romance scams, and online purchase scams. Phone fraud is also prevalent, where scammers impersonate government agencies or bank officials, using either polite or threatening tactics to manipulate victims into sending money. To protect seniors, awareness of these common scam types and verification tactics is essential.
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News 5 Cleveland
· 2025-05-19
According to FBI figures, scammers defrauded seniors of $4.8 billion in 2024. The Mentor Police Department in Northeast Ohio is increasing scam prevention outreach through workshops at senior centers and assisted living facilities in response to rising fraud targeting older adults. One victim, Jack Hines, nearly fell for a phishing email scam but caught himself before losing money.
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NBC10 Boston
· 2025-05-23
Massachusetts consumer protection officials warn residents to stay alert against increasingly common scams, noting that older Americans lost nearly $5 billion to fraud in the past year. Key red flags include social media scams that create urgency, unsolicited phone calls, tech support scams, romance scams, and cryptocurrency schemes, with protective measures including ignoring unknown callers, using two-factor authentication, and regularly changing passwords.
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CBS Evening News
· 2025-06-01
A 26-year-old U.S. Navy electrician named Thomas Xiao admitted to passing sensitive military documents to a Chinese intelligence officer who posed as an investor and researcher on the Chinese social media app WeChat between 2021 and 2023. Chinese intelligence operatives are increasingly using social media and virtual contact to recruit U.S. military personnel and extract classified information, as traditional in-person espionage has become more difficult.
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WFRV Local 5
· 2025-06-03
The Wisconsin Better Business Bureau warns that investment and cryptocurrency scams are the most prevalent frauds targeting adults 55 and older. The BBB recommends being cautious of phone fraud with spoofed caller IDs, avoiding pressure to act immediately, and verifying unusual claims by calling official sources directly rather than trusting the caller's information.
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CTV News
· 2025-06-26
A Manitoba senior lost his entire life savings of $2 million in a cryptocurrency investment scam involving a fake website called "Fargo Investor" created using artificial intelligence. Scammers, reportedly operating from outside Canada, used social media ads featuring celebrity endorsements to promote the unregistered investment opportunity, which the Manitoba Securities Commission warns is part of a rising trend of fraud targeting seniors.
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CTV News
· 2025-06-26
A Manitoba senior lost $2 million in a Fargo Investor cryptocurrency scam, prompting a warning from the Manitoba Securities Commission. The fraudulent scheme operated by showing the victim fake returns on his investments over time, creating the illusion of legitimate gains before the scammers converted his money to cryptocurrency and moved it overseas.
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FOX 4 Now
· 2025-07-11
Active duty military members in Florida reported 50% higher losses to scammers in 2024 compared to other Americans, affecting approximately 62,000 service members in the state. Scammers primarily target military consumers through online purchases, fake job postings, cryptocurrency investments, home improvements, and vacation deals, exploiting vulnerabilities created by frequent relocations and deployments. Protective measures include avoiding unsolicited links and attachments, being skeptical of deals that seem too good to be true, and using secure payment methods while avoiding cryptocurrency transfers.
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CTV News
· 2025-07-17
A Calgary senior lost over $300,000 in a cryptocurrency scam that began in 2022 when a scammer impersonated her grandson claiming he needed bail money for a car crash and drug charges. The fraudster, working with a fake lawyer, instructed the victim to make more than 300 deposits into Bitcoin ATMs over a six-week period before she became suspicious and reported it to police. Calgary police's cybercrime unit identified and arrested 34-year-old Jeremy Ratray of Quebec in connection with the scheme.
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19 News
· 2025-07-23
A 66-year-old woman from Mentor, Ohio lost over $400,000 in a sophisticated cryptocurrency investment scam after being contacted by a scammer posing as an online friend offering investment advice. The scammer displayed fake returns to lure her in, then demanded six-figure fees to withdraw her funds—a classic fraud tactic. The victim is one of nearly 30 people across multiple states targeted by this same scam operation.
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Forbes Breaking News
· 2025-08-01
Senator Kirsten Gillibrand highlighted that elder abuse and neglect significantly impacts older adults in communities and long-term care settings, with only one in 24 cases reported to authorities, indicating the problem is far more widespread than realized. She emphasized that community programs—including long-term care ombudsman programs, protection advocacy agencies, and adult protective services—are essential systems that must be strengthened and protected to combat elder abuse and financial fraud. Gillibrand called for Congress to ensure these programs remain available to seniors and to empower law enforcement in preventing financial abuse as scams continue to evolve.
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CBS Sunday Morning
· 2025-08-10
Steve Wozniak, Apple co-founder, discovered that scammers were using deepfake or edited videos of him on YouTube to perpetrate a Bitcoin fraud scheme, promising to double any Bitcoin sent to a provided address. Victims, including Jennifer Marion who lost $59,000 worth of Bitcoin, received nothing in return, and Wozniak sued YouTube for failing to remove the fraudulent videos despite repeated requests from his legal team.
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WREG News Channel 3
· 2025-08-11
Unable to provide accurate summary. The provided text appears to be a garbled or corrupted transcript with significant OCR errors and incomplete segments that make the actual content indecipherable. While the title mentions "tariff scams" involving fake government and shipping messages that trick people into paying fees, the body text does not contain coherent information about this scam. To create an accurate summary for the Elderus database, please provide a clean, readable version of the article.
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FOX 5 Atlanta
· 2025-08-20
Peach Tree City Police identified cryptocurrency ATMs as the leading cause of fraud in their jurisdiction, with victims losing $2 million in just eight months of 2024. Scammers deceived residents into depositing cash into cryptocurrency accounts via ATMs located in stores and gas stations, often wiping out life savings and retirement accounts. Police emphasized that any unsolicited request to use a crypto or Bitcoin ATM is a scam, and warn this problem is occurring in communities nationwide.